5 Tips for Young Entrepreneurs

April 1, 2020

Written by: Chloe Corona Yan | October, 2018

Today, the younger generation is entering the workforce. We’re leading the next generation of businesses, whether Generation X or the Baby Boomers like it or not. As we’re at the start of our careers, it comes as no surprise that millennials often struggle to be recognized and taken seriously.

1. Never give up. 

 It’s competitive out there. We’re surrounded by emerging technologies and other young entrepreneurs striving for success, which means it’s never been easier to get burnt out. Be careful with yourself - know when you need a break, but keep moving. Continue working, even if it’s 20 minutes per day. Seek inspiration to keep your motivation going. Keep pushing towards your goals. A common misconception I hear a lot by older generations is that millennials ‘have it easier.’ Yes, we have the advanced technologies, but easier is far from true.

Technology has its benefits, but all the while has made the world more competitive. To stand out from the pack, you need to work even harder. Everyone is distracted by their own algorithms. Millennials are shaping the future. It’s vital that we continue to strive and work towards change for a better world. If not, who else will?

2. Learn to handle failure. 

Part of the learning process is failing. As a rule of thumb, if we learn from our mistakes we will be better -prepared next time, and will avoid making the same mistakes. It adds to our experience and within time, failure develops our wisdom and judgement. 

In my opinion, the best way to handle failure is acknowledging what went wrong, and accepting it. No matter how old you are or how many years of experience you have, you are always growing and learning. Nobody’s perfect and you’re only human. Mistakes are going to happen along the way.

3. Take advantage of technology. 

We live in an ever-changing world that is extremely different than the world our parents lived in. Technology is the most notable culprit, thanks to the advancements and new inventions emerging all around us. The reality is that our society relies on technology, to the point that we can’t function without it. 

The benefits and effects it can provide has made it into a powerful social marketing tool for many organizations and institutions. As millennials are the demographic most associated and knowledgeable with technology, it’s vital to use technology to the most of your advantage. Technology has made everything more competitive, and many businesses are starting to catch on, so it’s important to get a head start when you can. 

4. Don’t lose sight of your goal. 

Sometimes it can be hard to only focus on one thing, as life happens and it can be overwhelming when so many things are happening at the same time. But no matter how many distractions you may have or how many extra tasks you decide to juggle, try not to forget your main goal. It’s okay to feel tired sometimes, since it can get exhausting achieving your goals. 

Rest and take breaks, but remember the reason why you’re working so hard in the first place. In order to attain your goals, you should have a clear mental focus, and visualize success. Of course there will always be obstacles along the way on your road to success, but focus on your goal and keep moving forward so that you’re one step closer to it. If you don’t continue to seek out your dreams, you’ll eventually lose sight of it.

5. Be original.

Keep it authentic and make sure your brand doesn’t lack originality. In this industry, it’s hard to stand out nowadays. Be confident and don’t feel discouraged by what others are doing or have achieved. Focus on yourself and building your brand identity.

Social media is a powerful staple to businesses nowadays, as it is the main method for businesses to communicate with clients and build strong connections. Brands rely on social media to tell their story and engage with consumers, and the connection is strongest when the brand is authentic in their storytelling.

Platform
Price
Pro’s
Con's
Anchor

Free

  • Easy to use
  • Automatically distributes your podcast to major platforms.
  • Embed media player.
  • Great if podcasting is a
    side hobby
  • Very basic editing
  • Since it’s a free tool, you don’t have full control over the monetization of your podcast.
  • Not the right platform for people taking podcasting seriously
Buzzsprout

Free for 2 hours of content per month

$12 for 3 hours per month

$18+ for 6 hours and up

  • Very user-friendly
  • Caters to both long term and beginner podcasters
  • Advanced analytics
  • Easy distribution of your episodes
  • They measure their size requirements to hours not megabytes
  • Bonus: get a free $20 Amazon gift card when you sign up for any paid hosting plan!
  • Advanced features like dynamic ad insertion need some work
Libsyn

$5/month for Monthly Storage 50mb

  • Oldest podcast hosting site.
  • Easy distribution to major platforms and great for scaling once your podcast gets bigger.
  • Hosted over 35,000 podcasts.
  • An iTunes Podcast partner.
  • Allows you to publish your podcast to specific directories.
  • Embed media player.
  • Price is based on storage
  • 50mb storage for $5 won’t be enough if you are publishing weekly so you’ll end up with a higher price point
Podbean

Unlimited audio package: $9/month

Storage space:

Unlimited

  • Great support & customer service features
  • Unlimited audio.
  • Pages are easy to customize
  • Can schedule podcast release dates.
  • Easy to use.
  • Uploads and changes to podcast titles and/or descriptions are automatic to Spotify.
  • Embed media player.
  • Simple Analytics
  • Analytics aren’t as advanced as other platforms
  • Upload and changes to podcast titles and/or descriptions take a day to change on iTunes.
  • Not an iTunes podcast partner.
  • The process to send a podcast to iTunes is more tedious. But, you will still be able to get on the platform.
Blubrry

Classic

$5/month

Monthly Storage

50mb

  • Podcast Wordpress plugin and management.
  • If you want to record a new introduction or conclusion, add in a sponsored ad or upload a new version of a podcast, it doesn't count towards your storage usage per month.
  • Blubrry allows a 25% storage overage each month
  • Prices are based on storage.
  • Usability is okay.
SimpleCast

Starting: $15/month

Recommendation: $35/month

Monthly Storage: Unlimited

  • Hosts your audio files no matter what the size!
  • Dynamic insertion for podcast ads or edits.
  • Incredibly detailed analytics including number of episodes completed and listener location tracking.
  • Embed media player.
  • Easy to use.
  • Great distribution! Easy access to all major podcast platforms.
  • Customizable podcast
    website.
  • Prices are slightly higher than other platforms, but well worth it especially if you have a branded company podcast!