Ft. In New Theory - 24 Tips for Millennial Entrepreneurs

Originally posted on New Theory: Scroll to tip #9 to read what Wine & Design's CEO had to say

New Theory Surveyed Top Entrepreneurs and Asked Them for Tips for New Millennial Entrepreneurs

Tip #9:

This younger generation enters the workforce eager to be their own boss. They’ve seen people finding great success at a young age in fields such as technology and they’re eager to replicate that success in other industries. Coming into this situation with only a few years in the workforce or directly out of college means they don’t typically have the savings or collateral a more experienced entrepreneur has, so they have to find creative way to start their business with less resources at their disposal. Franchising provides a better opportunity for them for a few reasons. Because they’ll need to get their seed money in the form of a small business loan or by borrowing from their parents, franchising presents a less risky investment than a traditional business started from scratch. An established franchise’s proven system means young business owners are more likely to succeed, which eases concerns from potential investors about their limited experience.

-Harriet Mills, CEO and Founder ofWine & Design

Tip #9 (tag team):

Check your ego at the door, please. This is definitely a killer. This is the narcissist, the “better than,” the “insulter” – you won’t be winning with this one under your belt. This is a red flag disaster that screams “run the opposite direction.” Or it were reminiscent of your six-year-old self who didn’t get that favorite toy and screamed endlessly. Tip: Please try and practice some self-compassion here. Realize you’re doing the best you can, and you can always choose differently.

-Dr. Neeta Bhushan who is an emotional intelligence advocate, www.neetabhushan.com

Don’t come off as being too passionate. When you’re caught up with what you’re offering to the world, you’re blind to the flaws and failure that inevitably crop up. And when you can’t see the flaws, you can’t improve.

-Ajit Nawalkha who is recognized by the industry as a powerhouse international investor, https://www.ajitnawalkha.com/