Top Tips For Young Entrepreneurs
Orange Sky laundry is currently raising funds to launch a van in Townsville, and are just $40,000 short of their target. To donate or to volunteer for Orange Sky Laundry, head to orangeskylaundry.com.au
Nick and Lucas have more experience than most when it comes to the challenges of entrepreneurship – their charity ‘Orange Sky Laundry’ has been a day-by-day adventure, ranging from broken washing machines on the first day of operation, to turning up to their launch in Melbourne in singlets and boardies in the middle of winter. Today they manage 1,000 volunteers in 17 cities across Australia, with 20 vehicles washing 6.5 tonnes of laundry and providing 150 showers every week. Here they give us their top 10 tips for young entrepreneurs just starting out.
1. Just start!
You may have the best idea in the world, but unless you put it out there you won’t know if it will work or not. And it might not, but you’ll never know if you don’t try.
2. Do something you are passionate about.
Small business owners and entrepreneurs work long hours during the initial set up of an idea, and you don’t want to be working 100 hour weeks doing something that you don’t love.
3. Don’t take yourself too seriously.
Learn from your mistakes, don’t be disheartened by them, mistakes are an opportunity to learn, grow and improve for the future.
4. Be authentic.
It’s important to show people the real you, and they will connect more closely with what it is you are trying to achieve. This is particularly important in charity, when seeking out volunteers, if people are giving up their time to help others, they want to know that the people in charge are genuine about what they’re doing.
5. Persevere. Be bold. You don’t know if you don’t try.
If you have a setback, tackle it head on. Problems don’t fix themselves and if you want to succeed, you need to be aggressive about achieving your goals and never giving up.
6. Listen to people’s advice.
This is one thing I would go back and change if I could. It’s something particularly hard to follow given the nature of human beings to want to learn from their own mistakes.
7. Build, trial, learn, repeat.
Always be seeking continuous improvement. Look to your customers and staff for feedback – you may think that you have perfected your business but the people on the ground may have some fantastic ideas to improve efficiency and effectiveness. Don’t be afraid to ask!
8. Challenge yourself.
Look for ways of doing things differently. Be innovative and embrace change.
9. Outsource what you need to.
Don’t try and do everything yourself. Specialists are just that – they are experts in their field. We aren’t accountants, we aren’t lawyers, we aren’t computer technicians, if we try to be and do those things ourselves we are wasting time that could be better spent doing what we are best at.
10. Have a strong support network around you.
Times can get tough, and you need allies around to reassure you that you’re on the right track. With the right support network, the tough times aren’t so tough, and the wins are awesome.