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3 Important Lessons I’ve Learned From Starting A Business At Age 12

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Why did you start your business? Was it because you wanted freedom? To escape from a boring desk job? Maybe you wanted to start living the “Rockstar” lifestyle of Richard Branson?

All of us have our reasons for becoming an entrepreneur and doing it alone. For me, it was because I wanted a drum set.

My dad played the drums, so naturally I wanted to follow in his footsteps. I asked my mom and stepdad if I could get a new acoustic kit, and their response was that I could only get it if it earned it myself. This was upsetting at first, but I am so glad for the way things turned out, because it changed my life.

Did I mention that I was only 12 years old? That’s kind of important considering I couldn’t legally get a job. I had to figure out how to make this happen on my own, and I was determined.

Since I couldn’t work for someone else, I decided to start a lawn-care business. I learned so much from this first venture into the world of entrepreneurism, and these lessons have been invaluable to the 6 businesses that I have started since then.

Here are three things I’ve learned about starting a business:

1. Starting up is often the hardest part

I knew I needed to make roughly $700 in one summer while the grass was growing and I was out of middle school. I calculated that if I cut roughly one lawn every day left in the summer for about $10-$15 a piece, I would have the drum set by summer’s end.

My first obstacle? I didn’t even have a lawn mower. Like I said, we lived in a duplex, so the land lord was the one who cut the lawn with his own lawn mower.

If you’re starting a new business, it’s often those steps that come after that great idea that are the most perilous. This is when you start to see the reality of what you are up against, and it is really easy to quit and say “this won’t work.”

Not having a lawn mower was discouraging, however my stepdad made me an offer that was a pivotal moment in my life. He told me that if I could go door to door and get 10 people to sign a sheet of paper saying I could come back in a week or two to cut their lawn, he would front me the money for the lawn mower.

I went out that night, pounded on doors, and got told “no” a lot. I think I got around 8 signatures or so that night, and my stepdad was impressed enough that he bought me the lawn mower.

The hard part was over, and I was now in business! I have learned through several businesses that if you can quickly get past this very first obstacle, it is comparatively smooth sailing from thereon out.

“Problems are not stop signs; they are guidelines.” – Robert Schuller

2. Cold-calling is a painful, unforgiving, numbers game

Cold calling was essentially what I was doing at age 12 knocking on those doors. And I learned quite fast that it is a numbers game.

You knock on doors, you get a percentage of people who say yes, and then a percentage of those people actually follow through and do business with you.

I didn’t know about that last part, so when I returned to my list of signatures and knocked on their doors, I was disappointed to be greeted with either no answer or an “I changed my mind” from a big portion of them.

So I knocked on more doors, and more doors, until finally I started to get my first real customers (and cash in hand). What I learned from this long cold-calling process was that I hated knocking on doors. It was nerve-wracking and it really sucked to get rejected. There were times where I wanted to just quit and go home to play video games.

But each time, right when I was on the brink of quitting, I would get a “yes,” and that $10-$15 would suck me back in. I repeated this process for a while, but then I got smart. I asked myself: Why was I knocking on doors?

Looking back, I was inadvertently doing exactly what is commonplace in online business today, I was building a list.

So my 12-year-old self looked at my list and determined who would be most likely to pay me. My answer? My existing customers! I was spending so much time knocking on doors (lead generation) that I wasn’t properly following up with the people who already liked me. After all, grass grows fast in the summer. I would only need 3-5 regular customers paying me every week in order to hit my goal.

Just like the lawns I was caring for, I needed to be just as good at caring for and nurturing my customer relationships. So that’s what I did. I focused 100% on providing great service, doing more than was asked of me, and always asking if people had neighbors they were friends with who could use my services.

That was when I stopped cold-calling forever and started focusing on customer-nurturing and building a referral network. These things are always at the forefront of my mind today, even as my techniques and marketing knowledge have become more sophisticated.

 

3. A “burning so hot you think you might die” desire

If I didn’t dream of having that drum set and following in my father’s footsteps, playing my favorite songs, and maybe even starting a band…If I didn’t yearn for this every time I stepped into my room and looked at the spot where I would place that kit…there is no way I could have done it.

I would have quit by the 10th “No” I got while knocking on doors. I would have quit when I had a valuable regular customers drop my services in exchange for their nephew.

Willpower is a finite resource. But dreaming of that drum set kept me going. It’s what pushed me along when things got tough and I wanted to give up.

If there is any lesson I have taken away from my first business, it is, you can’t do amazing things if you don’t have an amazing reason for doing them. You only have so much willpower. If you don’t have that burning desire constantly nagging you, you will just give up. I can guarantee it.

But if you figure out what your burning desire is, and keep it at the forefront of your mind at all times. If you write it on post-it notes and put them everywhere. If you allow it to push you and even stress you out a little bit, you will surprise yourself with how your work ethic changes and how you will start to focus on the right things that will help you reach your goal.

And once you reach that goal and all of that hard work pays off, you become addicted to that feeling of achievement and success. I was able to purchase my drum set that summer (I still have it today), and I never did stop “opening up shop” to achieve my goals.

“Desire, burning desire, is basic to achieving anything beyond the ordinary.” – Joseph B. Wirthlin

What lesson have you learned from starting your business? Please leave your thoughts in the comment section below!

Collin is a serial entrepreneur and founder of the The 20 Something Entrepreneur, which is a blog and podcast dedicated to helping the young and the young at heart find more success in their businesses by learning from other young entrepreneurs who are still “in the trenches” figuring things out.

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Startups

5 Strategic Power Moves to Successfully Build Your Empire

Transitioning from idea to empire is a journey of strategic planning, execution, and constant evolution

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how to build your empire

The journey from a fledgling idea to a thriving empire is both exhilarating and daunting. The Startup Launchpad is not just a process but also a strategic framework that enables visionary entrepreneurs to become market leaders. This framework comprises five power moves, each a critical steppingstone in building a successful business.

These moves—Ideation, Business Plan, Online Presence, Strategic Marketing, and Launch and Growth—are the blueprint for turning aspirations into achievements. (more…)

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How to Avoid Startup Clichés and Buzzwords When Pitching Investors

Using jargon can make you sound like you’re trying to fill space instead of providing meaningful data

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How to pitch investors better

Entrepreneurs frequently seek startup funding through a variety of channels. Yet, none seem as challenging as successfully pitching to experienced investors. After all, investors are pressed for time and eager for opportunities. These characteristics make it challenging to motivate them, especially if you’re bombarding them with a pitch full of jargon. (more…)

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From Idea to Empire: 5 Power Moves for Your Startup to Thrive in Today’s Market

As an entrepreneur, I’ve learned that understanding market dynamics and choosing the right business model are crucial

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How to thrive in the startup market in 2024

As an entrepreneur, I’ve learned that understanding market dynamics and choosing the right business model are crucial.

A few months into the startup, I was quick to gauge why it is necessary to go beyond the nuances of operational efficiency and the art of sustaining a business amid growing competition.

Collaboration is key.

The HR and the recruiting teams work with departments to foster a culture of collaboration, but what’s indispensable to business performance is the sync between the marketing and sales teams. What we’d consider as entrepreneurs is the need to ensure seamless collaboration to predict and achieve business goals together. In turn, this will help secure long-term recurring revenue for the business.

Besides, entrepreneurs need to focus on revenue as they gear up to take their startup from $0 to $1 million. The journey is filled with critical decisions, from identifying your target customer base to choosing the right funding strategy.

So, what next?

Read on… because here are five practical, results-driven strategies that you as a founder can implement to make a mark in their industry.

#1. Embrace the Lean Methodology

What is lean methodology?

It is all about pivoting resources to create more value for customers with fewer resources. 

This principle encourages you to be more agile and allow rapid iteration based on customer feedback rather than spending years perfecting a product before it hits the market.

Want to implement it?

Here’s what you can do.

Build “Measure-Learn” Loop: What I did was develop a minimum viable product (MVP), a simple version of the product. You can do the same since it allows you to start the learning process as quickly as possible. After launching MVP, measure how customers use it and learn from their behaviors and feedback.

Here’s what I can recommend here:

  • Identify the core features that solve your customers’ primary needs and focus solely on those to develop your MVP.
  • Know the feedback channels where early users can communicate their experiences, suggestions, and complaints.
  • Analyze user behavior and feedback to make informed product development and iteration decisions.

#2. Focus on Customer Development

Let’s talk about taking our startup to the next level. 

It’s not just about getting customers – it’s about really getting to know them. We need to dive into their world, understand their struggles, and see how our product or service can make a difference in their lives. 

It’s like we’re detectives, piecing together the puzzle of our business hypothesis by actually chatting with our customers

What would you ideally do here?

Understand Customer Segments: I’d say, start dividing your target market into segments and develop a deep understanding of each segment’s demographics, behaviors, needs, and pain points. The idea is to get into their shoes and really feel what they feel.

Ensure your Product Clicks: When starting up, think of what you offer and consider whether it clicks with what our customers need. My thought was “Does my product solve their problems? Does it make their day better?” Put yourself through a tough grilling session to show customers the value proposition and ensure that the product’s promise matches what our customers are looking for.

I’d recommend the following actions here:

  • Talk to them – through surveys, interviews, or even casual chats. The goal? To gather real, raw insights about what they need and expect.
  • Use the collected data to create detailed profiles for each type of customer. This way, everyone on our team really understood we were serving. I think this should help your startup as well.
  • Try out different versions of our product with a few customer groups. It’s all about feedback here – understanding if you’re hitting the mark or if we need to pivot.

#3. Foster a Data-Driven Culture

The digital world is highly data driven since it fuels key decisions in a startup. 

I believe it’s essential for us to build a data-driven culture. This means, you’ll move from making decisions based on hunches or assumptions. Instead, the focus should be on data analytics and insights to guide our strategies and improve our outcomes.

What can you do?

Use Data Analytics Tools: You should be using these tools to gather, analyze, and interpret data related to customer behavior, market trends, and our business operations. Here, consider the adoption of pipeline forecasting that leverages AI to find patterns in marketing data. 

In turn, you’ll get areas for improvement since it can analyze historical data and predict the outcome for you to plan your.

Action Items:

  • Pinpoint key performance indicators (KPIs) that align with your business objectives and ensure they are measurable and actionable.
  • Next, you can consider training your team to understand and use data analytics tools. This might involve workshops or bringing in experts to build a data-savvy workforce.
  • Once everything is in place, regularly review data reports and dashboards. This gives us a clear picture of a startup’s health and helps adjust your strategies and predict future trends.

#4. Strengthen Your Financial Acumen

A good grip on financial skills is important to steer your business towards growth and making sure it stays on track. For this, you’ll have to understand the money side of things, which helps you manage your cash flow. Think of figuring out smart investment moves and sizing up any risks that come your way.

Here’s a tip on how you can get savvy with your finances.

Maintain Rigorous Financial Discipline: I’m really focused on cultivating a strong company culture, one that truly resonates with our mission. So, I’d suggest fostering open communication and encouraging a sense of ownership and collaboration among everyone in the team.

Action Items:

  • Get to know your financial statements inside out – I’m talking about the income statement, balance sheet, and cash flow statement. These are like the vital signs for your business’s financial health
  • Use financial forecasting that helps predict your future money moves. With this, you will have a heads-up on upcoming revenues, expenses, and how much cash you’ll need. Also, research on the available financial forecasting tools that can make predictions spot-on.
  • Don’t go at it alone. Regularly touch base with financial advisors or mentors. With them by your side, you’ll have a fresh perspective on your financial strategies to ensure you’re on the right path to hit your business goals.

5. Prioritize Team Building and Leadership Development

It is crucial to focus on building a solid team and developing strong leaders. This means putting our resources into the people who are going to propel our company forward. 

What you’ll aim for here?

Creating a culture where everyone collaborates and every team member has the chance to emerge as a leader.

What I would do:

Cultivate a Strong Company Culture: This culture should mirror our mission and foster open communication. It’s important that it encourages everyone to feel a sense of ownership and work together.

Invest in Leadership and Team Development: As founders, we’ll have to make way for opportunities for teams to enhance their skills, face new challenges, and grow in their careers.

Some concrete steps that you should consider taking:

  • Begin with clearly communicating your startup’s vision, mission, and values so that every team member is on the same page.
  • Conduct regular team-building activities and workshops to boost skills and strengthen a sense of unity and collaboration.
  • How about starting a mentorship program within our organization? The more experienced team members could guide and support the growth of newer or less experienced folks.
  • Alas… encourage feedback at all levels. We should keep striving to create an environment where open, honest communication is the norm and everyone feels safe to speak up.

I know it’s one thing to get your head around these ideas and quite another to actually make them a part of your everyday business life. But that’s where the real magic happens, right? It’s all in the doing. 

As a startup founder, this means more than just being a big dreamer. How about rolling up your sleeves to be the planner who pays attention to the smallest details. Ultimately, these tips and more tactics around it will help carve a leader in you who listens and cares and the learner who’s always ready to adapt

So, as you’re either starting out or moving forward on this entrepreneurial adventure, keep these practical tips right there.

May these be your guiding lights, helping you steer through the wild and exciting world of building a startup that’s not just a dream, but a thriving reality.

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12 Things I Learned in 12 Months of Working on My Startup

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Image Credit: Unsplash

A few weeks ago I launched my startup. It took exactly 12 months from the initial idea until the moment I saw my app in the App Store. And these were some of the most challenging, fun and exciting 12 months of my whole life. (more…)

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