Guest Post: Young Entrepreneurs and the Economy by Cristian Dorobantescu

Crisitan manages entrepreneur-interviews.com. Here is his guest post:

It’s difficult to believe the economic crisis might be an opportunity for entrepreneurs. I’ve written articles on this subject and after a while I realized it’s a concept that is hard to swallow, especially for people that have been hit by unemployment or for entrepreneurs that struggle to survive. Still there is one thing that gives me hope: young entrepreneurs.

My position as a blogger puts me in a fortunate position to do a lot of interviews with young entrepreneurs. And guess what? Not only are NOT afraid of the crisis, but they are excited about the prospect of growing while everyone else is complaining or not doing anything at all. What also becomes evident from the interviews I post on entrepeneur-interviews.com is that young entrepreneurs have a unique set of advantages:

  • Young entrepreneurs are fearless as compared to their more experienced counterparts. They take the current situation as being the “de facto” environment for doing business and don’t just wait for things to become “better”.
  • They’ve got family support. As the “opposites” of older entrepreneurs that have to be themselves a pillar for their families, young entrepreneurs get plenty of support from family, school, coaches.
  • They don’t have a history of failure or debts. They start fresh and the crisis makes them pay more attention to their business environment. This helps them develop more efficient business models.

I’ve recently had to overcome something you could call an “entrepreneurship failure”. I’ve sold my shares in the company I founded 4 years ago. This year I will be 32. I’m almost double the age of the entrepreneurs I interview. Of course if you got the entrepreneurship bug then you will start a new business in no time. Only God knows how much I envy these young entrepreneurs that start early and have more time to fail and learn. And I’m also missing the innocence to dive headfirst into the crisis. And that’s my confession.

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2 Responses

  1. Insightful post, Cristian. Thanks again for your contribution. I agree with your point about younger entrepreneurs being at an advantage because they have family support. But I respectfully disagree in the sense that it gives them a strategic advantage over older entrepreneurs, which seemed to be implied.

    The challenge young entrepreneurs often face is that their network and support structure is fragile, if not non-existent. Seasoned entrepreneurs obviously have had time to establish a stronger support structure. I also think that entrepreneurial failures can be advantageous, not necessarily prohibitive. We learn most when we fail. Fail young and fail fast. Learn from your mistakes quickly and move on. So don’t sell your own “failure” short. It could be the greatest thing that’s happened to you!

    Keep up the good work! I look forward to reading more of your blog.

    Jacob

  2. Thanks Christian. Great post. I may be a bit older than those you interview, but I’d like to think I’m still at an advantage, particularly given my limited experience thus far.

    I do find myself, however, falling into that trap of waiting for things to “get better”. You’re right: if only we’d operate as though this is the environment business thrive in, then when things do improve, we’re in a far stronger position for it. Assuming there is a hey day on the horizion, I hope we young entrepreneurs can take it in stride and not lose our heads with unaccustomed success.
    Thanks again!

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