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Business Lessons for Young – and Older – Entrepreneurs

The saying, “Youth is wasted on the young,” holds true for people who want to wish time backward. Getting older can be difficult, physically and mentally, and making money becomes even more crucial with retirement looming. Listed below are some business lessons that everyone, young and old, can learn to help them forge ahead for a brighter future.

  • Time is as valuable as money. Or, as it goes, “time is money,” and no truer words have been said. Be aware that this works on a daily and yearly level. Starting a project now means that you have, from this moment on, an abundant amount of time to generate profits. Also, there are only so many (24) hours in a day and how you utilize them is a clear correlation to how successful you are and will be in the future.
  • Perfection is your enemy. Perfectionists like to take their time (see tip #1), which is the opposite of making progress. Being able to be flexible and work with people and ideas is key. That doesn’t mean you should do shoddy work, not at all, it means that progress also means learning from your mistakes.
  • It’s okay to fail, because you will. Failure is a part of life. Everyone’s life. If not for failure, there would be no learning, no adapting. The most important aspect of failure is learning from it, and accepting it because it’s inevitable.
  • Recognize people who share your vision. They do exist. And the opposite exist, as well. When you learn to recognize and keep in contact with people who share your vision, you are setting yourself, and your business, up for success.
  • Never stop learning. Just when you think you’ve learned all you can about an industry, there is more to learn. Everything is always changing, evolving, especially the world of business. Read journals, blogs, everything you can to stay on top of the trends.

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Published on: December 23rd, 2016