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10 Tips for Young Entrepreneurs

10 Tips for Young Entrepreneurs from Successful Entrepreneurs

Spring 2019 marks the 10 year anniversary of the IDS (Information Technology, Design, and Startups) program at the iSchool. To celebrate the 10 years of innovation, the iSchool is launching its first ever podcast next week!

I got to chat with 10 of the most successful companies that arose from this program and then created little podcasts from each of the conversations. InfoSpace will be sharing these podcasts with you over the next 10 Wednesdays. While our first release isn’t until next week, I have compiled a list of tips from each of the 10 founders I spoke with about what it takes to actually start a business. If you enjoy this, make sure to look out for our launch next week!

1. Just Do It, Even If It Fails

Jacob Tanner, Digital Hyve

“It’s not easy to start, I want people to realize it does take a lot of work but people need to take more action. People get stuck in that learning phase and they actually need to just do it, even if it fails because they’re going to learn way more than just planning and reading and waiting.”

2. Share Your Ideas

Kevin Rieck, Ravle

“You don’t have to hide your ideas from the world. Nobody is trying to steal them. Share them, spread them to the world and see how people react. That is the best way you’re going to find customers and get the best feedback.”

3. Develop Passion Early

Scott Friedberg, Gilded Social

“When you’re starting out you have an advantage of not knowing how hard it is going to be, so use that time to get passionate about your idea. And then,  once you realize how hard it’s going to be, hopefully that passion you’ve developed then can push you through the tough times. That naiveté starting out is really important.”

4. Think Outside the Textbook

Danny Goldberg, Golden Gear

“Entrepreneurship can’t be taught out of a textbook. In fact, a lot of business can’t be taught out of a textbook. You can study business theory all day but ultimately starting your own business is about the grind and being scrappy.”

5. Have Others Help You Be Strong

Brandon Eng, ExPrep

“Build a really strong team, and then a really strong support system as well. Having a strong team will make your life so much easier. You’re already wearing so many hats, so having people that are smarter than you and are able to work really well together is so important. Also, starting a business, no matter what you’re doing is really tough, so having that support system really helps get through the tough times.”

6. Jump into the Fire

Charlie Preuss, Imajion

“Don’t let negative feedback hold you back from starting. The best thing to do is start and figure out solutions to your problems later. But the longer you wait, the harder it’s going to be. Just jump into the fire.”

7. Do It for the Right Reasons

Patrick Ambron, BrandYourself

“Make sure you really know what you’re getting into and that you are doing it for the right reasons. A lot of people try to start companies because it seems really exciting to be on your own and run a business. And it can be, especially if you find success. But the other side of the coin is you really need to think about if you’re willing to prioritize a business over everything else and sacrifice things like personal life and time indefinitely, with the likely outcome that you have nothing to show for it.”

8. Measure by Days, not Weeks

Andrew Farah, Density

“Measure things in days, not weeks, in the beginning and show the product to users in your first three weeks starting, don’t wait until the product is done. And read anything Paul Graham has ever written.”

9. Trust Your Gut

Rachel Renock, Wethos

“Trust your gut. There are a lot of people who have a lot of advice, and a lot of vultures, and a lot of people who are condescending, and a lot of people whose intention it is to make you doubt yourself. I’ve been there and all the decisions I’ve made where I didn’t trust my gut, I have regretted. At the end of the day, you know your business better than anyone else.”

10. Be Obsessed

Luis Romo, Purple Sun

“If you’re not obsessed with your idea, and you’re not completely all in, and you’re not in love with what you’re doing, you’ll never make it. You have to be obsessed, and if you’re missing that it’s extremely easy to quit.”

Alexandra Archambault

Alexandra Archambault

I graduated from Syracuse University in 2018 with a dual major in Newspaper and Online Journalism in the Newhouse School and in Information Management and Technology in the School of Information Studies. I have worked in a variety of professional environments including non-profits, publications, and private businesses. I am now working towards getting my master's degree in Information Management at SU.

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