In the world of business, one of the biggest sins you can make is to compare yourself to others. If you belong to the group of Gen Y entrepreneurs, chances are you’re feeling the pressure of being successful just like your more senior and experienced counterparts. What’s interesting is the fact that young entrepreneurs tend to follow how older entrepreneurs do business. On the other hand, older company leaders are almost not interested in knowing how the younger ones run business. Well, this is a big mistake they’re doing. You will understand why after learning what advantages young entrepreneurs have over veterans.

They get to enjoy their freedom. Older entrepreneurs generally have more responsibilities and financial burden compared to the younger ones. As a result, they can’t afford to open a business that can’t guarantee profitability for at least a couple of years. In addition, their time is divided between their business and their families. They have no choice but to spend their free time not thinking of better business ideas, but with their loved ones.

Meanwhile, young businessmen have more free time and not much financial burden. And so, they needn’t be in a hurry when making a business plan and they have enough time to create a business idea, do extensive research, and even look for funding. This thorough planning is actually what enables them to develop a business that is bound to succeed.

They are so open-minded. What makes younger people special is their ability to produce unique and interesting ideas through observing and learning from others. Their open-mindedness allows them to absorb more information, which they later on use for their own purpose. In the world of business, there’s a tremendous need for creative people. Companies are continuously searching for ways to make their products or services attractive to the public, and this is where a young entrepreneur is usually very effective in.

They tend to be impatient. Entrepreneurship is always exciting for younger people, especially right after they finish school. Their aggressiveness and impatience push them to do things in a hurry, which is definitely a necessity in running a business. If you want to stay ahead, you have to be on your toes in terms of what you can offer in the market. Young entrepreneurs also don’t mind breaking the rules. As a matter of fact, they even have the guts to make their own rules. As a result, they are able to dictate what the public would or wouldn’t need.

They are usually stubborn. Young people don’t like being told what and what not to do. They often feel they are smart enough to make big decisions in their lives. This is good in running a business. If you want to succeed in your field, you shouldn’t let people dictate who and what you are going to be. So, whatever they say, you are the one in control of your own career pathways and success.

Author's Bio: 

Cecile Peterkin is a certified career and retirement coach, and a registered member of the Career Professionals of Canada and the International Coach Federation. She is also the Founder and Senior Career Strategist at Cosmic Coaching Centre, provider of career and life management services for middle managers and mid-career professionals across Canada, United States and Europe.