Finding a job in this economy — even keeping one — is tough. Tired of the uncertainty, some twentysomethings are going from job hunting to job creating by starting their own businesses.
Generation Y entrepreneurs have a few advantages here: They’re seen as tech-savvy, enthusiastic risk takers with fresh perspectives. But they also tend to lack money, credit histories and managerial experience.
Some pointers if you’re under 30 and starting a business:
You may know your “great idea” inside and out, but you might not know as much about writing a business plan, incorporating a company, or managing employees. Reach out to more established business owners by tapping your college-alumni network or finding a support group such as Score, a group of about 11,000 volunteer business executives who counsel entrepreneurs in person or online at Score.org.
“I think the first challenge that I had was wondering where to start,” says Joel Erb, who started a Web design company at age 15 and has since expanded it to offer new-media marketing and communications services. Mr. Erb, now 25, taught himself computer coding but learned how to incorporate, finance and expand his company, named INM United, from his mentors.
