Discussion Forum Forums Passive Income Entrepreneurship 3 Reasons to Start a Business In Your 20s and 30s

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    UncleSam
    UncleSam
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    Almost all of us think about starting a business at some point. The thought enters our minds when you see your friend starting their own business and became successful or when you are sick of your day job.

    In this post, I would like to share why you should start a business when you are in your 20s or even in your 30s.

    1) You get to do what you’re interested in
    When you are in your 20s or early 30s, chances are most likely you do not have commitments. So instead of being stuck in a desk bound job which is boring. Why not do something you are interested in and make money with it.

    2) Risk tolerance
    Starting a business means nothing until it becomes profitable and let’s face it, Not all business make it. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.

    Therefore the younger you start, the better you’re going to be able to tolerate that risk as you’ll have fewer commitments and more time to make up any losses that you incur.

    3) Long-term potential returns

    Unlike your day job. The amount of effort you put in will most likely determine how much you make. Therefore, it’s always best to strike it out yourself early in your career.

    “If you don’t build your dream someone will hire you to help build theirs.”
    ― Tony A. Gaskins Jr.

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