{"id":5569,"date":"2020-08-18T10:29:26","date_gmt":"2020-08-18T10:29:26","guid":{"rendered":"https:\/\/www.rbc.com\/en\/thought-leadership\/just-do-it-eight-tips-for-making-it-as-a-young-entrepreneur\/"},"modified":"2025-03-26T03:35:29","modified_gmt":"2025-03-26T03:35:29","slug":"just-do-it-eight-tips-for-making-it-as-a-young-entrepreneur","status":"publish","type":"rbc_tl","link":"https:\/\/www.rbc.com\/en\/thought-leadership\/disruptors\/just-do-it-eight-tips-for-making-it-as-a-young-entrepreneur\/","title":{"rendered":"\u201cJust Do It&#8221;: Eight Tips for Making It as a Young Entrepreneur"},"content":{"rendered":"<hr>\n<p><iframe loading=\"lazy\" height=\"200px\" width=\"100%\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https:\/\/player.simplecast.com\/3401eb09-52ad-427a-a159-f230533194cd?dark=false\"><\/iframe><\/p>\n<p>Listen on <a href=\"https:\/\/link.chtbl.com\/WqJxzQiQ?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Apple Podcasts<\/a>, <a href=\"https:\/\/link.chtbl.com\/4Os8MeK3?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Google Podcasts<\/a>, <a href=\"https:\/\/link.chtbl.com\/QVwVVwQ1?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Spotify<\/a> or <a href=\"https:\/\/link.chtbl.com\/Gdvm1L5x?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Simplecast<\/a><\/p>\n<hr>\n<p>Twenty years later, as we reel from a global pandemic, it\u2019s almost 30%. <\/p>\n<p>On a day meant to recognize young people, it might not feel as though there\u2019s much to celebrate. The COVID crisis has battered economies worldwide, and it\u2019s hit youth especially hard. Graduating in a recession can have long-term impacts on the careers of young people, including slow wage growth and stunted progression up the ladder, as noted in a <a href=\"https:\/\/thoughtleadership.rbc.com\/the-recession-roadblock-the-long-term-career-consequences-of-graduating-into-a-downturn\/\">2019 RBC Economics report.<\/a><\/p>\n<p>But as we rebuild our economy, we\u2019ll need the energy and creativity of young people to reimagine what\u2019s possible.<\/p>\n<p>In an RBC Disruptors podcast from September, 2019, we spoke with two 20-something entrepreneurs who pursued their own ambitions. They share how they dove headfirst into their ventures, while also navigating the barriers of being young entrepreneurs.<\/p>\n<hr>\n<h4>Not many young adults in Canada imagine themselves as the next Elon Musk: only 1.7% of the country&#8217;s entrepreneurs are under 30.<\/h4>\n<p>The Internet and record low interest rates have made entrepreneurship more accessible than ever, and yet the rate of young Canadians starting their own businesses has been relatively flat since the 1980s. The shine of the start-up world diminishes when placed in the context of rising student debt levels and unaffordable housing in major cities.<\/p>\n<p>At our recent RBC Disruptors conversation, we heard from two 20-something CEOs who nevertheless joined this tiny minority\u2014and haven&#8217;t looked back.<\/p>\n<p>Braden Ream is the founder and CEO of VoiceFlow, a software platform making creative tools for voice interface designers building on Alexa and Google Home. Julia Kirouac is the founder and CEO of NudFud, a company producing sweet and savoury snacks with a focus on nutrition.<\/p>\n<h4>Ream and Kirouac shared 8 tips for starting your own business\u2014and why your 20s might be the perfect time to do it.<\/h4>\n<p><b>1. Just Do It<\/b><\/p>\n<p>When you&#8217;re young, you can dive in headfirst, full of energy and free of responsibilities. The risks are lower in your 20s\u2014you can live on little, and people won&#8217;t judge you for gaps in your resume.<\/p>\n<p><b>2. Don&#8217;t Focus on Your Age<\/b><\/p>\n<p>Young entrepreneurs may struggle to be taken seriously. Ream suggests not bringing up your age\u2014it&#8217;s not what&#8217;s important anyway. \u201cYou don&#8217;t want to be the best 22-year-old CEO in Canada; you want to be the best CEO, period.&#8221;<\/p>\n<p><b>3. Ask Questions<\/b><\/p>\n<p>On a fundraising trip to Silicon Valley, Ream was getting frustrated after dozens of rejections. When he started asking questions, he learned that his presentation wasn&#8217;t speaking to investors. People wanted to hear more about the voice tech market, and less about his particular product. He tailored his presentation\u2014and started landing investors.<\/p>\n<p><b>4. Find Mentors\u2014plural<\/b><\/p>\n<p>You&#8217;ll need go-to people for different things. (Don&#8217;t complain to your investors about your product&#8217;s failings!) Find someone who can giving you financing advice, someone else knowledgeable about your industry and someone else you can rant to when things aren&#8217;t going right.<\/p>\n<p><b>5. Learn as You Go<\/b><\/p>\n<p>Everyone fails\u2014and it&#8217;s an important experience. Particularly if you lose money, it&#8217;ll be a lesson you don&#8217;t forget. \u201cFailure teaches you how resilient you are. Either it&#8217;s going to break your spirit, or make you come back even stronger,&#8221; Kirouac said.<\/p>\n<p><b>6. Be a Sniper, Not a Machine Gun<\/b><\/p>\n<p>Starting a business will definitely be a grind, but you can maximize your output by staying focused: prioritize your time effectively, and work on the right things. As Ream put it: \u201cYou can either be a sniper or a machine gun.&#8221;<\/p>\n<p><b>7. Take Care of Yourself<\/b><\/p>\n<p>Self-care isn&#8217;t talked about enough among entrepreneurs. It can become a competition, how little sleep you&#8217;re getting by on. That&#8217;s going to catch up to you. Get a good night&#8217;s sleep, eat well, and lean on your network. \u201cDon&#8217;t be an island, definitely reach out,&#8221; Kirouac said.<\/p>\n<p><b>8. Pave the Way For Others<\/b><\/p>\n<p>It can be tempting to move to the U.S. But every company that decides to stay in Canada, like Shopify has, paves the way for more success stories. According to Ream, \u201cIt may be tougher, but we can pay it forward to future generations of entrepreneurs.&#8221;<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Young entrepreneurs, Braden Ream and Julia Kirouac, shared with RBC Disruptors tips for starting your own business\u2014and why your 20s might be the perfect time to do it.<\/p>\n","protected":false},"author":209,"featured_media":5570,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"disable_focal_point":true,"featured_image_focal_point":{"x":0.5,"y":0.5},"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"rbc_tl_category":[109,100],"rbc_tl_tag":[104,105,103,118],"class_list":["post-5569","rbc_tl","type-rbc_tl","status-publish","has-post-thumbnail","hentry","rbc_tl_category-disruptors","rbc_tl_category-innovation","rbc_tl_tag-entrepreneurship","rbc_tl_tag-skills","rbc_tl_tag-technology","rbc_tl_tag-youth"],"acf":[],"yoast_head":"<!-- This site is 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