Lol was about to disagree with your title but I take that back. Young entrepreneurs are real, successful ones are very very rare. I'm 25 and I've been building my brand and haven't made a cent. I have 6 failed businesses behind me, and this current beer related one is picking up. It takes fucking patients and will to do as people may want to give up after 6 failed businesses lol. That's why soo many people just come out of the gate with a scam because they want to avoid said tribulations
Normal is overated. BUT Gary Vee says that "50 is the new 40". Don't worry about it if you're not successful by 40, you still have plenty of time... Note: success is relative, you define what success is, to you.
i gave my 3 year old the choice of $100k now or $10k a year for 10 years. He said "life is short, and a lump sum provides greater opportunity for investing in myself." I knew i raised him right.
A lot of this is because of school. School says you have to succeed every 3 months again and again. In reality, 18-24 months is quite fast to learn a skill, or even 36-48 months. That’s just fine.
I think a huge problem is just the fact people think they NEED to form a unicorn company. You can make 6 figures detailing cars with no start up cost. It’s just not as glamorous.
Yes yes yes yes yes and yes. Dude, I just saw a guy today that sells rugs. RUGS!! I think a lot of people also forget about plumbers, electricians, etc that make some preeeety good money
@@colin8302 I think the point is that. Working a job likely won't necessarily move you far ahead (incline higher) and will just stagnate your progress. Preparing to invest would help out in the long run due to money increasing through percentages instead of a near flat rate.
Having spent a few years in the San Francisco startup scene, I know quite a few people who cracked under the pressure of trying to build a unicorn in their 20s. They tried to found their own startups right out of college, when they should have slowed down and worked for other people's companies first to ride the learning curve. Instead, so many people I know burned through their cash, their networks, their reputations, and left the city with only heartbreak to show for their years of effort. The "young tech founder" media narrative has real world consequences. Don't let yourself get caught up in that game. Success takes time.
This is true, but if you have the opportunity then you should probably take it if you're ready. There's a good reason people do this when they're young and have fewer responsibilities and time for their work to compound. I know of 4 people off of the top of my head (only mutual friends with them) that ended up starting companies out of school and got a little bit of funding. One dude ended up selling their company for like low 7 figures, other two got low 7 figures of funding and are still grinding it out I think. Last one did it in the early 2000s and sold for low 7 figures. Paul Graham essays are actually pretty good on this stuff I think, better than anything I can write. No doubt you know more than me quincy, but follow opportunity my dudes, whatever your age. Definitely don't do it if you want to be a lambopreneur con artist or just the fame. At the end you will have hopefully earned or at least learned a lot
hmm. but at least they learned some lessons when it comes to being an entrepreneur or managing stuff. Yeah, its pretty risky but that comes with the practical knowledge you gain. And, at the end of the day, there's not much to lose when you're in your 20s... yeah 30-40k or even more dollars for startups, but you get in return knowledge and took the risk as early as possible rather than at +30 yrs old which considering at that time, you might put yourself and your wife and kids at risk. As in regard to working for other people's companies - yeah you can always find jobs even after +30 years old and play the cards the safe way... That's good for some people who want to take no challenges and live a "boring" life in a cubicle. If someone really loves being an entrepreneur and doing something that he loves even considering that the odds are not really in its favor, I think most young people should go ahead and just try it. I'm not saying to be deluded but prepare to put in the hours and face all the obstacles.
As a business owner, I didn’t start my business until I was in my mid 30s. I held sooo many different types of jobs in government, retail, IT, etc. You need to work for people for a while so you can learn what to do, what not to do, fail, study, and grow without worrying about losing your house. I can’t tell you how many 20 year olds I work with and mentor who want to earn 6 figures instantly having zero experience. Have patience and remember that you should be learning from each job you have.
Yes... but you held 5 minimum paying jobs until you were ready. I’m not saying you can’t be an entrepreneur at 20 but it’s rare to see one that goes on to make the kind of money that they think they will make without learning hard financial lessons.
I think the biggest part everyone leaves out is that most young entrepreneurs come from rich families (at least the ones that build huge companies) so they don’t have to work and can focus solely on their business/startup
Most millionaires inherited their money and almost all billionaires had millionaire parents (or straight up billionaires). But mass media sells the american dream because it's paid by those same millionaires and billionaires who want people to believe that they deserve their money. Also, most of them are incredibly inept when put into real scenarios where their expertise would make or break a company. Just look at Zuckerberg and Musk, both stumbling down the Forbes rating after taking a risk because they overvalued their own intelligence.
Most of the unicorns went ivy league schools and come from relatively well off families. Not taking anything away from them but they had "rich" social networks for support, connections, and money. Which are things every entrepreneur has to build up
"Most of the unicorns went ivy league schools and come from relatively well off families." Of note, the 2nd factor matters WAY more than the 1st. Ivy league education being better, at least for tech, is just as much a myth as that of the young entrepreneur. The best technical schools are not Ivy.
@@kgoblin5084 true , a lot of people think Ivy schools and their education is better , when its simply not. its just a label of being "elite" and coming from a well off families at this point
@@miguelrodriguez-pe1ss I tutor senior citizens in the use of technology by visiting their homes. I just love helping these people. But you've got to love whatever it is that you do to be any good at it.
People also then to negate privilege correlating to a “young” entrepreneur’s success. Your success at that age also depends on the family background you come from and the wealth you come from.
Yep, most of these "self made" young business owners or entrepreneurs have rich or at least well off parents. Sure some have come from nothing, but I'd bet most had a cozy fallback if their business fell through.
Facts... Background matters! Access to connections, capital and capacity support is a game changer. The narrative of Gates, Zuckerberg, Dell etc dropping out of college or creating a dorm room startup ignores one big fact....from which college did they drop out? Which dorm room did they start off in? Harvard etc.. Who goes to Harvard? Elites..
The edge people from successful families have? An ability to comfortably present themselves to wealthy investors or clients. A different mindset of what is realistic/normal. Growing up with very different expectations of them. These are not trivial differences - they are huge.
@@Carthodon I don't doubt they earned access by merit. And my comment isn't a criticism of them. I'm simply demonstrating the fact that access and privilege does give an advantage... that's an undeniable fact. Hardwork, innovation and the rest is necessary to grow and sustain the success but privilege opens doors that give a head start. Some VCs for example will only take meetings or accept proposals from "recommended" people. So to even get access one must know someone influential. If you aren't in those circles thats automatic exclusion whether your business has great potential, whether you work hard and you're innovative and creative. You are excluded! No grudges against anyone with privilege, it's a gift of birth and may they use it wisely. But, lets acknowledge the fact of the head start privilege gives.
This is a great video with a really great message. Young men are constantly bombarded with unrealistic, unachievable images of success at preposterously young ages. At one time, it was just rock stars and actors, but now there's this whole "tech CEO" archetype as well. The most important insight you noted was that even AMONG young tech founder-types, they often don't actually make their big world-changing moves until they're 40+.
It also destroys people's sense of happiness or even self esteem. Expectations are being pushed WAY too high, especially when considering that the whole world is going through a rough time. I'm not even going to up how these expectations are effecting relationships as that would be another whole story to go in.
The thing is most successful young entrepreneurs like Mark Zuckerberg and Bill Gates are heavily backed up by a bunch of old successful investors. Some of them even have support from their parents, college and professors. So, it is very disingenuous to solely attribute their success to their genius right from the very start.
I always thought I was just a late bloomer because I didn’t have the discipline, experience, or confidence to really pop off in my career or my endeavors until I hit 40. To all those people who think life ends at 30, you’re going to have your mind blown in the best way!
This whole „you‘re old at 30“ pisses me off to no end tbh. The fuck are you on about? 35 is LITERALLY when „middle age“ BEGINS. It just means we‘re no longer widdle babbies or something, I dunno. If my children ever try to pull that on me there will be words. Probably better chosen than in a heat of the moment YT comment, but still. The internet is pure poison when it comes to ageism. What started as a joke (gosh, I feel old) began to be taken too literally (you‘re old!) and turned somewhat self-affirmatory (I just turned 30, I‘m old now). Real-life begins somewhere around 22-25, when you finally get to leave school. Reminder: You started school at 6. Your entire LIFE has been nothing but school.
These VC's better watch out they will be left with a bunch of people that look like George Santos and Elizabeth Holmes. Yes these two who faked their lives to get the attention of VC's voters, donors and lobbyists so they can be "Early Success"
A 22 year old who has occasional anxiety attacks when thinking "what the hell do I do I'm already in my 20s and I don't know what I should be doing" "Should I start a business" "Should I go beyond my Bachelors?" "Should I do both?" "CAN I balance both successfully?".... This brings me a lot of relief
Very true. Out of the big founders which are always talked about, (Bill Gates, Steve Jobs, Mark Zuckerberg, etc) the only one who didn’t really have very well off parents or industry connections was Steve Jobs. And even then he was lucky enough to be born in Palo Alto right when the tech boom was happening.
I see that most entrepreneurs (the real ones) don't call themselves that, they identify themselves with their product. Examples: I do steel, I do crypto, private equity
The youth founder myth is brutal and only exists so that Angel and VC investors can play the numbers game to find a unicorn company. Youth founders are easy to control and give investors what they want.
I was going to write something similar. Someone who's more "street wise" probably won't accept investment unless they really need it or it'd be beneficial in the end. Why would you give away a big piece of the cake when you don't need to right ..
As I saw more and more technolgies being developed for the financial world and with the ability to get information in a matter of seconds I tought investors would become more rational but It turns they just became more emotional and risk adicted, this young entrpeneur archetype for example Is a reflection of how succes Is stereotyped even at the big leages since there are massive funds throwing money at companies only because they claim to be tech and have an out of the box young leader (like Softbank with WeWork)
@@renegarcia2857 So far as the financial world goes, the problem I think is that the 'big leagues' relies less on smarts and more on big established enterprises that can afford to bumble around and prosper by sheer mass. Big enterprise corporate culture has NEVER been smart. That's why we see startups able to run circles around them so often.
I just turned 44. Will be launching my first startup early next year. Going to revolutionize the construction industry. Took a lot of struggle, a lot of difficulty, success, and failure as a contractor to understand the business and see where tech could make a difference. It takes time to mature. Stay patient, humble, and hungry.
As a musician, one of the things that created this misconception is the fact that most "successful" creative people, such as musicians, actors and so on, start usually at a young age. What is often forgotten is that these people most often have other people much older and experienced than them dealing with other parts of the business.
Forgets to say his mom was an IBM exec, which I'm sure had nothing to do with Microsoft landing its first contract to build IBM's OS before they had a working prototype...
45 is actually younger then I thought but make total sense. 40s you can still have young energy and the experience and wisdom of an established professional.
You have also most likely be trying for some time, made a bunch of mistakes, learned from them and are humble enough to be paranoid about learning and improving rather than displaying the arrogance of a 19 year old that thinks they know everything.
It`s most likely the result of averaging all those people because there are people who start their business really young and they pull down the average considerbly. If you get 1 person at age of 18, 1 at the age of 27 and 5 at the age of 55 your average would still be around 45. If you look at the median instead the age would probably be well into the 50s. 55 in this example.
My thoughts: - Patience is a virtue - There’s no rush but remember life is only temporary - Stop comparing yourself to others whether they have what you don’t or do what you want to do - Stop living your whole life based on trying to create a $1B unicorn startup at any age - Aim for something more achievable and realistic - whether it be an internet or physical business - Have lots of employable skills and a backup plan to fall back on
That's exactly what I've realised a few months ago. With the increase of 20 yo college dropout so called 'Internet millionaire', it felt like college is a waste of time. To start a business and become a millionaire by 25 is the best way. What I've realised it's that we must have patience and that there is no need to hurry, what's much more important in early 20s is to gain imp skills, understand how world works and build long term relationships. Everything will get figured out along the way. Life is a marathon, not a 2 year sprint. We need people like you in the mainstream, who talk sense, backed by statistics.
It's survivorship bias on steroids. College isn't the meal ticket it used to be BUT, it's still way more reliable than dropping out and or never going. The number of college drop outs who are millionaires is infinitesimal when compared to the numbers who never become millionaires.
Also at some industries you need a graduate degree or MD prior to being a success story. Biotech Industry is one of these industries since I majored in Biology in college is one of them and I am aware that this group do not become a success story until we are close to 50 years old.
@Anon If all you do is fail and you learn something from those failures, then you’re not a loser, you are wise. Loser is he who sees failure as the end.
@Anon Picking the safest route every time likely leads you to a life of mediocrity. Sure if that's enough for you nothing wrong with it I guess, but I respect people who take calculated risks rather than always picking the safest option. It's funny cause your type of people not only discourage other people from taking risk, but you also absolutely hate everyone whose risk taking paid off. I mean if that's not loser behavior, I don't know what is.
People are going to be afraid of failures because of this concept known as "risk tolerance" If you fail and that means you are going to be evicted and have your health insurance drop, you might be afraid of failure. People born into parents who have some ownership of property have higher risk tolerance because their failures don't mean they become homeless.
Colonel Sanders was 65 when KFC took off and Ray Kroc was in his 50s when McDonalds became a national franchise. Henry Ford was 40 when he started Ford Motor Company.
These are exceptions though, most entrepreneurs have to start young, I’m quoting someone who actually was a billionaire in his book, a guy called Felix Denis.
@@TkevTV That much is true, but you must start young so you have the energy to do so. In the case of Ray Croc he did actually start older as did Ford, but they are definitely exceptions.
Thank you so much for making this. I'm a 36 year old serial entrepreneur. I started at 19, and I have yet to be successful at anything that I've tried. As I approach middle age, I have learned the hard way that big success in your twenties or early thirties is rare. The fact that I have not found it yet does not mean that I'm a failure, it just means that I'm normal. Older Millennials have been beat over the head with this notion that they are failures if they don't have a few million by 25. As we start to age, it weighs on us more and more - even though it shouldn't. We really need to correct this false narrative because it is needlessly effecting a lot of peoples self esteem.
As long as it's fulfilling and profitable, you need to be making tons of money. At the end of the day, whatever business you're in providing value to your customers and making a profit or not no matter how small is worthwhile.
I just turned 39 and I'm in the same boat. I started my first business when I was 23 and have just now begun to see something that resembles "success". If it was easy, everyone would do it.
@@realRichHunting ditto, most people don't have the grit to make it... minus the survivor bias most people struggle before finding their way. Ironically 10 years into a project i was seeing some great success and then the pandemic hit in 2020... set me back, but i used the time to create a new project that is now gaining traction. If living your dreams was easy, everyone would be doing it...
Honestly, a lot of these entrepreneurship gurus you see online, the giant share of their income comes from UA-cam or classes they sell online... Not from their 'business' or 'hustles'.
I am 29, almost 30. I had to work most of the time in part time mediocre jobs so I just finished my MSc a few months ago. Don't get drawn out by this artificial pressure to be successful by the time you are 30! Besides being successful is a different thing for everyone. Others focus on career and money and others find happiness in a stable life that will give them a chance to have a family! Don't make choices that are not your own because of stereotypes that just want you to exhaust yourself.
I started my first business at 24... I’m 28 now and I’ve just had my first million in revenue..... it’s a grind, there’s no lambo’s and private jets, it’s not flashy while you build a company.
@R L so what? That is something he achieved and is proud of. You can’t compare peoples achievements. He/she/etc is proud of what they have achieved, let them have their moment. 🙄
" it’s a grind, there’s no lambo’s and private jets, it’s not flashy while you build a company." => let's be honest, it CAN be flashy... but it's usually a red flag for a poorly managed venture capitalist vanity project destined to pop like a bubble.
Honestly man, thank you for this video, I’m 18 ever since middle school I been stressing about my future and how I’m going to get this money, but I didn’t realize how many options and time I still have. 🤞🏼🤘🏽🙏🏼
You'll be fine as long as you don't waste too much time on chasing romance, video games and partying. Getting good skills takes time and dedication, something I wish I had started working on earlier instead of hanging out and getting a mostly useless university degree. The people with successful businesses that I personally know are indeed in their forties - fifties but they all had a very impressive portfolio of skills with which they could start their own ventures, a network of personal connections that helped them gain funding and their first customers and also quite a bit of luck. Many people fail to gain such skills or are simply unlucky so there is no shame in being an employee instead of founding your own company. Becoming self-employed is always a huge financial risk and most ventures go bust in their first year, it's a statistical fact.
This video is pretty spot on, but at the same time it is a paradox. Without the pressure of feeling behind, you can fall into the trap of being lazy. Urgency is important
Just don't get "too comfortable". Just to share, I'm turning 27 this month. I was always the honor student back then and thought I had it all figured out but boom. Life happened. I won't go into specifics but money was hard and my plans changed because I only got to college because of an engineering scholarship. I never failed a subject either but I dropped out because I just couldn't handle the pressure of school and work then. I even found out I hated electronics engineering (I still understand some concepts though and it's useful at home) Ended up in dead beat job, hot depressed but after that terrible job and a low paying job I loved, I ended up getting a good paying job. I found I love IT so I enrolled in online learning (which wasn't common in my country before the pandemic so it's funny in an ironic way) to sharpen my skills more. I recently got promoted and once I finish my course, I'm planning to take some freelance work first before even considering starting an actual business. I'm not felling you not to think about your future; you should. I honestly think I'm here too because the discipline I got from school and at home helped BUT I had to teach myself not to be too hard on myself. Depression and burn out are real and will set you back in more ways than one. So I didn't finish college; I found what I liked. So I didn't have the same advantage some of my college friends had; I had to figure things out through experience and failure. I don't have the answers and I'm still confused most of the time. I still get bothered sometimes because of the obligations life threw my way and I will inevitably end up questioning myself on other days. It's fine. Take care of yourself, put yourself out there, be alert and mindful but don't panic about it. TLDR: It's okay to not have all the answers or get it all right.
I am 31 and do well for myself...The best pieces of advice I can give you in your 20s is to not be afraid to pivot, always say yes to new opportunities even if you are worried you are not good enough and don't stress, most of us who appear to have their shit together are just winging it... life has its ups and downs and, trust me, things always work out, even if at the time it seems like they never will...
@@alterSchwede46 what do you have against romance, video games and partying? If that makes someone happy that's great and I'd argue being happy better than being succesful
I was watching a documentary about "teenage successful entrepreneurs" who claimed to be self made while living with their parents rent free and getting allowance. Try to start a business with a full time job, kids, mortgage, student, stress, divorce, and health issues.
At 26 I've really felt pressured to make to have a functioning company by now and its been giving me anxiety . This video is just what I needed to bring me back to reality
Fr I’m only 20 and I’ve been having bad anxiety to since I feel like I’m not “successful” yet and sometimes I try to remind myself that there’s no need to rush things
Same here I’m 18 currently and would definitely say the same. My problem is that I’m so passionate about my ideas but I lack the ability currently to have a solid plan I guess. I’ll definitely do my best to relax and take my time
People that are in their 40s+ also have had more time to accumulate resources to start a business, more time to network and make connections, try and fail at other businesses, etc.
I’m 35 and I literally just learned about my fixed mindset vs the ability to learn new skills. I’m just starting out in growing and improving and I couldn’t be any happier.
My issue with the message in this video is that some people may interpret it as "you can relax until you're in your 40s". Keep in mind that these guys that are highly successful business owners, have been grinding their craft and their business(es) ever since they were a young age and persevered UNTIL they become very successful. If you decide to start your FIRST business when you're 40, there's a good chance that the business won't succeed. But lets say if you have experience starting businesses and you genuinely try your best starting from a really young age, then chances are you will have many failures throughout your journey but perseverance and working hard and smart will be the thing that will eventually turn you into a successful entrepreneur at a later age.
Even the young people who are successful when they're young usually burn out early. There's very few successful people that have stayed successful since day 1. Buffett is really the only guy who had it and held it his whole life.
well like he mentioned in the video, if you work in an industry til youre 40, you probably do indeed have a very high likelihood of being able to start a successful business around it in some way shape or form if you so desire and have the mindset. i do see what youre saying as well. but i feel like ive seen plenty of older folks who worked in industries for a long time come out with an app or a product that helps people enough to hit a critical mass and they become successful. he also specifically said that hes not saying to wait until youre 40 to start a business.
I'll agree that a brand-new, outsider voice isn't likely to break into an industry and succeed as an older first-time entrepreneur. However, most late starters have spent years in their industry as W-2 Employees in management, leadership, and quality, identifying where the opportunities and gaps are before they branch out on their own. They essentially incubate their ideas, their business models, and their network connections, under the safety net of a stable salary. It's a big mistake to act as though the whole of someone's journey before they become an entrepreneur is wasted effort.
@@THICCTHICCTHICC Completely false. You're only Focusing on top 0.04% what about remaining who have achieved at small scale? Also, how about Elon Musk, Jeff Bezos, etc.?
@@armada70 Musk and Bezos were not successful their whole lives. Amazon lost nearly 90% of its money at one point. Buffett was a successful investor since he was a literal child.
My mom left my alcoholic dad with my older sister, ended up fired from her job and we lived in our grandparent’s basement for years. She took her severance and decided to start a company in that basement. And she was 36. 30 years later she now has 4 companies, 52 employees and now handing it to me and my sister to run. It’s been a crazy ride.
No, like I said I'm finally getting there so I'm definitely not qualified to give anyone advice. The only thing I can confidently say is if you can't function under stress dont go into business.
@@charlesmccarthy6664 someone actually doing it saying he doesnt think he’s qualified enough to give tips and then you got 18 year old “EnTrEpreNeurS” selling 997$ courses for their mastermind blueprint lmao. Your a good man
Started at 19 and got HELLA lucky that my idea worked and can make a good living off it right now but I am nowhere close to successful. It takes a shit ton of time
I wouldn't say "relax" because successful people have a certain drive and determination. I would say don't think it's over when your 30 it's only just begun.
Getting rich slowly over time sucks!!! If you are in your 20's being 30 is something you can not even conceive yet . Being 40 sounds like a near death experience. When you're so young you never understand how much of life you truly have ahead of you. This misunderstanding creates an artificial pressure on people who wish to be known as extraordinary and that's a huge problem.
@@Gaius_Julius_Caesar_Augustus Then why not actually working on becoming a millionaire or billionaire? I don't see the logic to be against becoming a millionaire or billionaire.
The average like expectancy is 70. Yeh sorry I have no time to loose. Start a business as soon as you can. So you can fail young. Learn off your mistakes young and enjoy ur life of freedom young
@@dreisiglps2451 You're not just gonna "become a billionaire", that's ridiculous. You don't become part of the elite class by hard work, and no one should want to either. They're the enemy.
@@viktorthevictor6240 Ok, then through smart and hard work. Little to no luck involved. The worst enemies are the politicians who let the atrocities of Corporations happen, because they care more about getting paid a lot of money by those Corporations than about your wellbeing. Maybe I should become a politician. Then I can exploit my people so much I want and be unaccountable, no matter how much suffering I would cause. I'm still young, so I have time.
This whole trend of you have to be a young millionaire/billionaire entrepreneur just adds a lot of unnecessary pressure. A lot of us simply don't have the resources and expertise to make this a possibility in our 20's.
IMO if you get into entrepreneurship for recognition you are in it for the wrong reason. Great entrepreneurship comes from having great ideas, not just "grinding" and hating the idea of a job. There are a lot of very rich and successful "workers".
Experience grants you access to a strong network of highly skilled people. In order to start and run a successful business you need good people around you. No matter how skilled you are, you cannot run a business all by yourself. All these ultra rich and highly successful people have an amazing team.
True...Experience makes you humble and sober minded aswell. Humility makes you comfortable hiring people smarter than you and listening to their advice. When you're younger and naive you think you know everything! And your risk assessment ability is usually poor!
People mix up "trying to succeed" or "faking until you make it" with entrepreneurship, while 99% of those under 25 never studied entrepreneurship, business modeling, and not even basic finance. Experience, skills, and knowledge are the trio that every entrepreneur should have.
This is a really important video. I spent my 20s learning from others, my 30s experimenting with my own ventures and at 40 I am a little below a 7-figure business with a shot at an 8-figure business by the end of this year.
Must be nice. I wasted my life making minimum wage, getting myself into deep debt going to college, only to continue to make minimum wage. My life was over before it began.
Only if you think with a money mindset. Many people are happier than most capitalists will ever be because they don't care about money, but about the people they love. 😊
I think the biggest problem is the inability to accept failure among young people. They are pressured to be rich at a younger age and success is only shown one way, with money. I would never trust someone who just graduated college to be a CEO because I know how I was when I graduated college, I didn’t know anything about running a business and it’s not easy as naive people will make it sound, or MLM reps. It’s a massive commitment and uphill battle. I’m now in my 30s, worked and have a much better idea how a corporation works as well as gained value skills in accounting that college didn’t teach me. But even then I would never want to start a business now I wouldn’t even know what I could bring to the market. In my own investing I trust older companies that have a proven track record not a start up by a college drop out.
Something people don't seem to get is, if the media covers something, chances are they're doing it bc it's rare and striking. Even if they cover it a lot.
I was working in Silicon Valley in my late 20s and I felt like such a failure just counting down the few years I had to make it into the 30 under 30 list. It felt like everyone around me was on it. I hope everyone in the world sees this video.
my boss started up his own company in his 40s, i wont say he is dripping rich, but he is doing pretty well, the company is doing well. compared to my friend, who started his company in his 20s, the exact same industry, same company size and everything, i can see clearly the difference in how they handle money and their expenses. longer life experience does make a huge difference.
I’m more surprised that this mentality surprises people in our instant gratification culture. It actually fits perfectly into today’s standards. We can have food delivered in 10 minutes, binge watch entire seasons of our favorite shows in one night, get ripped bodies in 30 days, rich in even less time and buy now pay later for everything we are brainwashed to think we need. And even that has same day delivery.
Well she had the attributes or abilities to sell that idea to the right people at the right time. But that could have just been luck of the draw. But yeah it's wild how simple it can be sometimes. My dad's first boss who he worked with until he was 30, built a few businesses with, always told him "Mike, at a certain point, not really sure where, it's far easier to go into a bank and get a $1 million loan than to get a $10,000 loan." That's basically what that means. There's a lot taken for granted when you're viewed as high class, intelligent and have a good idea. And it can actually be oddly easy.
Underrated video. I worked at a non-profit VC firm for a couple years and I saw PLENTY of founders in their 40’s come through the space. These guys were always the most knowledgeable too which added a layer of trust that you can’t find in younger founders.
Thank you so much. I needed this right now. As a 33 year old entrepreneur whose business was wrecked by Covid - I was always thinking that “these are my last legs”. Your video gives me the pragmatism to keep on keeping on. After watching your video, I realize that I am not behind the curve despite feeling like it - but I actually still have a good 10 years of development before meaningful peaking. Your video grounds me and gives me hope. Thank you again.
How many of these "30 under 30" wunderkinds are still at their companies and still growing and not disgraced fraudsters who are probably going to prison?
When I was 16, I never imagined I would still be trying to figure out what I'm going to do now at 22. I thought 100% I would be rich by this age. Every year, I've felt like, well I didn't make a lot of money like I planned to, but I did learn a lot, so maybe next year it will happen. This coming year will be the first year that my goals are growth based, (this year I want to learn about x y z), instead of results based. (This year I want to make/have x y z amount.)
Dude you are really learning the most important thing and that is- information/ knowledge/ experience is the most important thing you can have. I have failed at 2 businesses and my cousin just asked me what do i regret the most in my life. I said not having enough knowledge to take a good decision.
Always remember that the internet exaggerates. These teenage TikTok ‘entrepreneurs’ are not normal, reasonable, or even particularly desirable goals. 22 is still a very young age to be starting your own business. 30 is still young. Most success you see on the internet is lies, deceit, or someone else’s money. Just focus on being secure and happy with your own life choices and business decisions. There’s still a lot of wisdom in the saying “slow and steady wins the race”
I really appreciate this video man. I’m 26 and still a w-2 civil engineer with aspirations of owning my own RE development company. Social media and other outlets made me feel so far behind and honestly a little embarrassed to still be working for someone else. I know now I can relax and I’ll get there once I’m ready. I’ll work towards my goals everyday but I’ll take it one step at a time and enjoy the process along the way. Thanks man!
I hate our cultures obsession with youth as I have aged I have realised how much experiencing certain things are important as compared to just taking knowledge. Honestly late bloomers are way more inspirational to me than prodigies .
A lot of knowledge can't be taught in a classroom. You can teach business all day long but nothing beats experience. The only thing that beats experience is education+experience!
These people better watch out or more George Santos type people start showing up conning their way to success if we keep having an obsession with youth having early success.
@@heyasmusic7553 true, but you know how you point them out? It’s the ones who call themselves gurus. A genuine master of an art would not call themselves a guru, they would only be given that title from others.
What bothered me is that those advocates of young entrepreneurship usually disdain education and promote anti-intellectualism. It is not ironic; it is hypocritical when tech unicorns downplayed the importance of tech
"usually disdain education and promote anti-intellectualism" I thought that they actually touch here the third rail by pointing out that formal education instead of being silver bullet making everyone smart and providing him with stable middle class job, actually is showing clearly diminishing returns and has highly varied relevance pending on field.
@@useodyseeorbitchute9450 I admire people that learn. I learned about being a good mentor when I was broke at the University of Hawaii from a store manager, as well as many people that didn't have a diploma. Many of them made a good living by doing what they are good at. They are not those shameless self-made gurus that told you education is useless and kissing their asses will give you financial freedom. Even a real estate or a stock broker will have to start with something small, learn to hang out with clients as well how their market works. They will put in as much time and energy as pursuing a school degree.
Jobs are underrated. I saved alot into my 401k in my 20s and early 30s I can probably try entrepreneurship in my 40s after I gain enough skills and a client base.
I have though about that as I will be a multimillionaire in my 40s but at that point, why risk it. I can easily retire in my 60s with around 15 million. Why risk that future to try and make a startup. if anything, I would prefer to find someone else who has the good Ideas and invest in them for a small cut percent ownership.
I'm 28 years old, I'm trying to finish med School right now and I know it's a long career and I'm grateful to have my parents support, but there's days when i feel like I'm a failure, touching 30 years old and still relying on my parents, many of my friends have graduated and have their own place and family now. I don't have an income of my own and don't have spending money. All i want to do is finish school so i can move on with my life and not feel so trapped.
True plus health care and biotech success does not happen until we are 50 years old. I did the same not by Med School but by getting two bachelor's degrees related to each other like Biology and Biotechnology.
My 30 year old advice to 20 year olds is that you truly don't know yourself as much as you think you do. I had a major breakthrough... sort of a second puberty at the age of 26 where my brain exploded with new cognitive abilities that really allowed me to know myself in ways I could literally not understand when I was 20. Therefore literally dont settle on anything in life just as yet, because you have no idea who you are and what you actually like in life as yet. Dont focus on your friends as much because 99% of them will not be there in 5 years. Dont focus on relationships or atleast try not to take them too seriously because as much as I hate to say it ... theres about a 99% chance you dont know yourself enough to even know what you want from a relationship and what a genuinely good relationship requires of you or a partner. Im 30 and im willing to accept that even now after deep exploration, I may truly still not know these things. I'd appreciate any advice from a 40 year old or even a mid 30s man who is an intuitive deep thinker who has explored himself in depth as I see myself becoming you one day. Thanks in advance. :)
My dad was literally just telling me the same thing last night and I didn’t listen. I’m embarrassed that I didn’t think he knew what he was talking about.
Hey Coffeezilla. I needed to see this. Thank you. I Have been trying to crack this nut since I was in my mid 20s (+-7 years ago). I'm 31 now, have failed a few times, and have wondered if I'm just bad at being my own boss. This video has made me realize I'm not useless and I should stop watching UA-cam and feeling bad. In the greater scheme of things, I'll only start worrying in 9 years. I agree with getting experience before taking this plunge. I would've been nowhere had I not had some corporate, marketing, and sales experience. Cheers!
Call it opportunity, or call it luck: a lot of successful people work hard, but they happen to have the right opportunity appear. Could be the right time, or right person, or right place, or all (e.g. Steve Jobs met Woz, in Silicon Valley, at the exact right time). Lots of people work very hard but don't make it. They're not doing anything wrong.
The best 'Young Entrepreneurs' in my country at least (Australia) are the plumbers, electricians etc. who get their trade by age 20-ish and by their mid 20s have their own trade business. I'm late 20s and my business is just starting to get there. I'm not a tradie though, I'm a trader/investor lol.
You need to make more videos like this. Telling stories and sharing knowledge at the same time is entertaining to watch, and you're naturally good at it. I bet this video is going to be a 1/10 on YT studio. Please make more videos on life advice, because I believe you have a lot of wisdom you can share with us. And don't stop when you hit 1M subs, push for 10M. I know you can do it!
I think it's extremely important that people, especially us who are in our 20s or even younger come to fully accept the fact that it's okay to not be a giga-grindset monster or someone who leaves a big mark. It's perfectly okay to be just some person who works at some place, as long as you're happy it doesn't matter. And it's hard to do trust me, sometimes still I get the creeping dread that I need to start rushing because most people I know are getting married or starting families or things like that; but it's important to realize that life isn't a race. Take it at your own pace, comparing yourself to others like that will only lead to misery.
As someonw who started a biotech company in my mid20s and failed after 4 years I felt the pressure that I had failed at my one shot to become a succesfull entrepreneur and that all that I will do afterwards will be in the shadow of my past "success" but I'm 30 and having economic and emotional stability for the first time in many years and I'm great! I'm going back to college to do a masters and probabbly will launch another venture in a couple of years in my mid 30s and hopefully not burn it to the grounds, and it's ok ...
If someone wants to go into "entrepreneurship" that already seems like a mistake. Wouldn't it be better if someone with a specific skill set and knowledge base wanted to take those skills and knowledge and use them to create new products and services that benefit potential customers? The idea that "entrepreneurship" is good in and of itself smacks of the same silliness (and often evil) of people who want to get into "finance" where all they care about is ROI and don't give a damn about employees, communities, or customers.
@@auraguard0212 No. What I'm saying is that you should have something to bring to the table before creating a business around it. Just wanting to "be your own boss" or "be wealthy and successful" should not be anyone's watch words. Being able to contribute new and useful products or services to the community and getting rich and successful as a byproduct is a better way to go.
@@springinfialta106 you just defined what an entreprenuer is. they contribute to society by creating something new with a set of skills and use it to build their own success.
Ironically the "young entrepreneurs" are typically insufferable to work or collaborate with. One wonders how they'll "change the world" when no one's there to help them do it. Humility might be the kryptonite of young entrepreneurs, which is a shame.
Whew I needed this !I was feeling a lot of pressure because a girl I know, who is younger than me, just got a huge investment in her company. I'm 30, and want to be an entrepreneur someday. My parents didn't have a lot of money, and my first years of working were spent at startups where I made very little money and learned a lot. Now I have a well-paying job and I am saving up for when I'm ready, but today I was asking myself what I'm doing with my life. Now I feel more confident to keep going with my plan!
Good stuff! I used to literally be angry with myself for having not achieved millionaire status by 30. That is, until I did some very similar research, and realized that very few people actually do what it is that I was trying to accomplish. I also realized that where I got the idea from that I'm supposed to be rich by 30 came from the self-help, dream-selling gurus.
I'm 33. I've always wanted to own a business but I've never had the money to. I'm finally coming up on some money and it's awesome to hear that it's not even close to too late to start thinking about owning a business.
You don’t have to build a million dollar company but in this age, we definitely need to start a business in order to live comfortably. Without going into crazy debt for a college degree, you’d never be comfortable working for someone else. They just aren’t willing to pay enough for you to live comfortably.
Depends what comfortable living is to you. A 60K salary (what professionals usually make) with a simple lifestyle and proper investment ability goes farther than people think. The problem is many Americans are addicted to spending, and so the idea of having $3500-4000 a month sounds like nothing to people who are probably going to drain over $500 each month on a depreciating car, spending $1500 on a 1 bedroom apartment and blowing the rest of their money on eating out, buying so many things they don’t need and more.
@@hiphipjorge5755 not a lot of people can actually land a job working for someone else making that much money, and yes that is a perfectly reasonable salary. However, at least for me, no one is willing to pay that much for someone without a degree (and a mound of debt at that). So I had to make my own way. I don’t make six figures but I make more than any employers would pay for my time. And I work less than they would make me work for that salary. Most people in my economic class will have to start a business if they ever want to see salaries over 40k/yr. Not all, but a lot of us.
Many young entrepreneurs misunderstand cash as income. There are also unqalified expenses that you entrepreneurs claim as bona fide business expenses. They get in trouble often with general lack of business accumen. I also see this media trend where young entrepreneurs assume they have life wisdom and get suckered or commit fraud.
I decided to start a Video Production Company right after turning 21, while still deep in study, AND making UA-cam Content. I don't know why but I feel pressured to keep working my ass off because of the standards displayed by the media. This video massively changed my mindset, thanks.
I'm 25 and have been working on my venture for 5 years. I didn't go to college cause I thought I'd be the one to make it. Thankfully I haven't failed but I do really wish I finished college or actually went to the military and traveled a bit. But the past is just that. Keep moving forward. Hopefully all goes well, best of luck to all.
This thing is actually more motivating than all the get-rich-quick videos or even motivation podcasts. It simply shows you that hard work pays and you should run your business, even when young, based on some sort of rational thought and not just try to go for easy profits.
Thanks for shedding light. I've left my 20's behind and I like to think I'm more capable of starting a company now than I was 5 years ago and that it has a better chance at success now than it did.
You're not a failure if you didn't build a unicorn by 25, you're normal.
People don't check the data :/
Lol was about to disagree with your title but I take that back. Young entrepreneurs are real, successful ones are very very rare. I'm 25 and I've been building my brand and haven't made a cent. I have 6 failed businesses behind me, and this current beer related one is picking up. It takes fucking patients and will to do as people may want to give up after 6 failed businesses lol. That's why soo many people just come out of the gate with a scam because they want to avoid said tribulations
I'll have you kno, my unicorn-focused genetic engineering trials are on track to finish by the time I'm 25... in dog years
I needed to hear this. 😂😂
Normal is overated. BUT Gary Vee says that "50 is the new 40". Don't worry about it if you're not successful by 40, you still have plenty of time...
Note: success is relative, you define what success is, to you.
"It's all about sacrifice and a long term mindset." - Timmy, age 11
😂 When did he start 'knowing' about this long-term mindset? Or is he repeating someone else?
He started developing a plan before he came to earth? 😂
"Freedom has a price, and the price is money." - Timmy, age 11
i gave my 3 year old the choice of $100k now or $10k a year for 10 years. He said "life is short, and a lump sum provides greater opportunity for investing in myself." I knew i raised him right.
What the media won't tell you is that Timmy owes most of his success to his two fairy god parents.
ad a £3000 donation to Brian Rose at London Real
People overestimate what they can accomplish in the short term but underestimate themselves in the long term.
That's a wonderful quote.
Pretty sure heard this somewhere on a certain book
@@mildlycurious8333 that quote is in alot of books.prob in a habit based self help book
This comment is underestimated
A lot of this is because of school. School says you have to succeed every 3 months again and again. In reality, 18-24 months is quite fast to learn a skill, or even 36-48 months. That’s just fine.
I think a huge problem is just the fact people think they NEED to form a unicorn company. You can make 6 figures detailing cars with no start up cost. It’s just not as glamorous.
@Paya Chinglish what do you mean
Exactly.
Yes yes yes yes yes and yes. Dude, I just saw a guy today that sells rugs. RUGS!! I think a lot of people also forget about plumbers, electricians, etc that make some preeeety good money
You don’t earn 6 figures starting a unicorn, you earn 9. You can earn 6 figures doing just about anything
@@sticklebacketienne not in latin america tho, selling online however is a possibility for latin american players
Dudes on Instagram invest $5 in the stock market one time and be like "Your 9 to 5 won't make you wealthy, your mindset will."
Ah ah
They aren't wrong tho, working doesn't make you money
@mynamepedro prove that 'working doesn't make you money'
@@colin8302 I think the point is that. Working a job likely won't necessarily move you far ahead (incline higher) and will just stagnate your progress. Preparing to invest would help out in the long run due to money increasing through percentages instead of a near flat rate.
@@Ace-Ace1 still you can’t make it anywhere without hardwork
Having spent a few years in the San Francisco startup scene, I know quite a few people who cracked under the pressure of trying to build a unicorn in their 20s. They tried to found their own startups right out of college, when they should have slowed down and worked for other people's companies first to ride the learning curve. Instead, so many people I know burned through their cash, their networks, their reputations, and left the city with only heartbreak to show for their years of effort. The "young tech founder" media narrative has real world consequences. Don't let yourself get caught up in that game. Success takes time.
This is so true. Thanks for sharing.
This is true, but if you have the opportunity then you should probably take it if you're ready. There's a good reason people do this when they're young and have fewer responsibilities and time for their work to compound.
I know of 4 people off of the top of my head (only mutual friends with them) that ended up starting companies out of school and got a little bit of funding. One dude ended up selling their company for like low 7 figures, other two got low 7 figures of funding and are still grinding it out I think. Last one did it in the early 2000s and sold for low 7 figures.
Paul Graham essays are actually pretty good on this stuff I think, better than anything I can write.
No doubt you know more than me quincy, but follow opportunity my dudes, whatever your age. Definitely don't do it if you want to be a lambopreneur con artist or just the fame.
At the end you will have hopefully earned or at least learned a lot
its the American Idol myth that "Anyone can do it, all you have to do is start!"
You name sounds familiar ;)
hmm. but at least they learned some lessons when it comes to being an entrepreneur or managing stuff. Yeah, its pretty risky but that comes with the practical knowledge you gain. And, at the end of the day, there's not much to lose when you're in your 20s... yeah 30-40k or even more dollars for startups, but you get in return knowledge and took the risk as early as possible rather than at +30 yrs old which considering at that time, you might put yourself and your wife and kids at risk.
As in regard to working for other people's companies - yeah you can always find jobs even after +30 years old and play the cards the safe way... That's good for some people who want to take no challenges and live a "boring" life in a cubicle.
If someone really loves being an entrepreneur and doing something that he loves even considering that the odds are not really in its favor, I think most young people should go ahead and just try it. I'm not saying to be deluded but prepare to put in the hours and face all the obstacles.
As a business owner, I didn’t start my business until I was in my mid 30s. I held sooo many different types of jobs in government, retail, IT, etc. You need to work for people for a while so you can learn what to do, what not to do, fail, study, and grow without worrying about losing your house. I can’t tell you how many 20 year olds I work with and mentor who want to earn 6 figures instantly having zero experience. Have patience and remember that you should be learning from each job you have.
Another interesting find by Harvard: most successful entrepreneurs had previous jobs in the industry they enterprised.
Agreed... Especially the first three until six months running a business, there will be a lot problems
Yes... but you held 5 minimum paying jobs until you were ready. I’m not saying you can’t be an entrepreneur at 20 but it’s rare to see one that goes on to make the kind of money that they think they will make without learning hard financial lessons.
@Jaquan Kelsor THANK YOU!
Cause you baby boomers sold us a dream not our faults
I think the biggest part everyone leaves out is that most young entrepreneurs come from rich families (at least the ones that build huge companies) so they don’t have to work and can focus solely on their business/startup
@@pinviewapp8908 you can edit your comment by pressing on the three dots in the corner of the comment :)
Yeah. It's carefully curated marketing to come across as being a rags to riches story.
Most millionaires inherited their money and almost all billionaires had millionaire parents (or straight up billionaires). But mass media sells the american dream because it's paid by those same millionaires and billionaires who want people to believe that they deserve their money.
Also, most of them are incredibly inept when put into real scenarios where their expertise would make or break a company. Just look at Zuckerberg and Musk, both stumbling down the Forbes rating after taking a risk because they overvalued their own intelligence.
@@crix_h3eadshotgg992 wut happened
@@greenchimney8388 just a spelling mistake
Most of the unicorns went ivy league schools and come from relatively well off families. Not taking anything away from them but they had "rich" social networks for support, connections, and money. Which are things every entrepreneur has to build up
"Most of the unicorns went ivy league schools and come from relatively well off families." Of note, the 2nd factor matters WAY more than the 1st. Ivy league education being better, at least for tech, is just as much a myth as that of the young entrepreneur. The best technical schools are not Ivy.
@@kgoblin5084 true , a lot of people think Ivy schools and their education is better , when its simply not. its just a label of being "elite" and coming from a well off families at this point
@@neel.KAITH2005Ivies are great if you want to work in wall street or consulting in a prestigious firm like Mckinsey/BCG/Bain .
Also, rich family connections means that they have a "golden airbag" to cushion the blow legally & financially if their business goes bust.
Agreed too.
I'm 54 and started my current business when I was 45. It has grown slowly into a reliable source of regular income.
What business did you start Dave?
Congrats! That's what it's all about, it's never too late
@@miguelrodriguez-pe1ss I tutor senior citizens in the use of technology by visiting their homes. I just love helping these people. But you've got to love whatever it is that you do to be any good at it.
Nice to hear! All the best, cheers
Congrats that is true if you work at some industries where the average successful person is between 45-54 you did it!
Important message. Statistics and common sense are good to have so you know when you’re being sold a dream.
I sware that line is in his theme song
Not Always 50 %
Generally speaking Ignore statistics. I keep it in mind and learn from mistakes then proceed.
@@Name-mi7bx so true, common sense is also vague.
There are 3 kinds of lies.
Lies, damned lies, and statistics.
People also then to negate privilege correlating to a “young” entrepreneur’s success. Your success at that age also depends on the family background you come from and the wealth you come from.
Yep, most of these "self made" young business owners or entrepreneurs have rich or at least well off parents. Sure some have come from nothing, but I'd bet most had a cozy fallback if their business fell through.
Facts... Background matters!
Access to connections, capital and capacity support is a game changer.
The narrative of Gates, Zuckerberg, Dell etc dropping out of college or creating a dorm room startup ignores one big fact....from which college did they drop out? Which dorm room did they start off in? Harvard etc..
Who goes to Harvard? Elites..
The edge people from successful families have? An ability to comfortably present themselves to wealthy investors or clients. A different mindset of what is realistic/normal. Growing up with very different expectations of them. These are not trivial differences - they are huge.
@@Carthodon I don't doubt they earned access by merit. And my comment isn't a criticism of them. I'm simply demonstrating the fact that access and privilege does give an advantage... that's an undeniable fact.
Hardwork, innovation and the rest is necessary to grow and sustain the success but privilege opens doors that give a head start.
Some VCs for example will only take meetings or accept proposals from "recommended" people. So to even get access one must know someone influential. If you aren't in those circles thats automatic exclusion whether your business has great potential, whether you work hard and you're innovative and creative. You are excluded!
No grudges against anyone with privilege, it's a gift of birth and may they use it wisely. But, lets acknowledge the fact of the head start privilege gives.
@@-Jason-L so true. Nepotism helps people get through the front door faster.
This is a great video with a really great message. Young men are constantly bombarded with unrealistic, unachievable images of success at preposterously young ages. At one time, it was just rock stars and actors, but now there's this whole "tech CEO" archetype as well. The most important insight you noted was that even AMONG young tech founder-types, they often don't actually make their big world-changing moves until they're 40+.
It’s nice to see you here JJ
It also destroys people's sense of happiness or even self esteem. Expectations are being pushed WAY too high, especially when considering that the whole world is going through a rough time. I'm not even going to up how these expectations are effecting relationships as that would be another whole story to go in.
The thing is most successful young entrepreneurs like Mark Zuckerberg and Bill Gates are heavily backed up by a bunch of old successful investors. Some of them even have support from their parents, college and professors. So, it is very disingenuous to solely attribute their success to their genius right from the very start.
I wouldn’t say unachievable but definitely very very rare like gambling sometimes you just win big out of nowhere but it’s super rare
If you think you're going to be a rock star just because you saw a rock star then that's on you. Not society.
I always thought I was just a late bloomer because I didn’t have the discipline, experience, or confidence to really pop off in my career or my endeavors until I hit 40. To all those people who think life ends at 30, you’re going to have your mind blown in the best way!
100%
This whole „you‘re old at 30“ pisses me off to no end tbh. The fuck are you on about? 35 is LITERALLY when „middle age“ BEGINS. It just means we‘re no longer widdle babbies or something, I dunno.
If my children ever try to pull that on me there will be words. Probably better chosen than in a heat of the moment YT comment, but still.
The internet is pure poison when it comes to ageism. What started as a joke (gosh, I feel old) began to be taken too literally (you‘re old!) and turned somewhat self-affirmatory (I just turned 30, I‘m old now).
Real-life begins somewhere around 22-25, when you finally get to leave school. Reminder: You started school at 6. Your entire LIFE has been nothing but school.
🙌🙌🙌
These VC's better watch out they will be left with a bunch of people that look like George Santos and Elizabeth Holmes. Yes these two who faked their lives to get the attention of VC's voters, donors and lobbyists so they can be "Early Success"
💯💯💯💯💯💯
A 22 year old who has occasional anxiety attacks when thinking "what the hell do I do I'm already in my 20s and I don't know what I should be doing" "Should I start a business" "Should I go beyond my Bachelors?" "Should I do both?" "CAN I balance both successfully?".... This brings me a lot of relief
16 but same here
You've got a whole life ahead of you, mate. No need to figure it all out so soon.
@@thecatherd thanks man, I needed to hear that.
Honestly, you sound exactly like me.
I‘m 36.
Go figure. 🤷♀️
Get over yourself bro
They almost always have parents or family with connections. But we're sold a story about how they are self made
Very true.
This right here
True. Which is part of the reason why starting older tends to be better because you're already in the industry and have connections yourself
@@MA-go7ee Exactly
Very true. Out of the big founders which are always talked about, (Bill Gates, Steve Jobs, Mark Zuckerberg, etc) the only one who didn’t really have very well off parents or industry connections was Steve Jobs. And even then he was lucky enough to be born in Palo Alto right when the tech boom was happening.
It’s sad that the word “entrepreneur” is losing its meaning just like the word “influencer” these days.
Huh, that's true. I no longer thing of entrepreneur as "business owner" i think of some Instagram dimwit flexing behind a lambo
Accurate 📌
Entrepreneur can normally be substituted for wantrapreneur ...
@@ninjablack4347 I will never think of those people as Entrepreneurs, I think of them as conning dumbass scum mostly.
I see that most entrepreneurs (the real ones) don't call themselves that, they identify themselves with their product. Examples: I do steel, I do crypto, private equity
The youth founder myth is brutal and only exists so that Angel and VC investors can play the numbers game to find a unicorn company. Youth founders are easy to control and give investors what they want.
YESSS!!!
I was going to write something similar. Someone who's more "street wise" probably won't accept investment unless they really need it or it'd be beneficial in the end. Why would you give away a big piece of the cake when you don't need to right ..
As I saw more and more technolgies being developed for the financial world and with the ability to get information in a matter of seconds I tought investors would become more rational but It turns they just became more emotional and risk adicted, this young entrpeneur archetype for example Is a reflection of how succes Is stereotyped even at the big leages since there are massive funds throwing money at companies only because they claim to be tech and have an out of the box young leader (like Softbank with WeWork)
Well said.. I noticed this while working as a VA for a young startup CEO..
@@renegarcia2857 So far as the financial world goes, the problem I think is that the 'big leagues' relies less on smarts and more on big established enterprises that can afford to bumble around and prosper by sheer mass. Big enterprise corporate culture has NEVER been smart. That's why we see startups able to run circles around them so often.
I just turned 44.
Will be launching my first startup early next year.
Going to revolutionize the construction industry.
Took a lot of struggle, a lot of difficulty, success, and failure as a contractor to understand the business and see where tech could make a difference.
It takes time to mature.
Stay patient, humble, and hungry.
All the best! 🎉
How's it going Ryan?
As a musician, one of the things that created this misconception is the fact that most "successful" creative people, such as musicians, actors and so on, start usually at a young age. What is often forgotten is that these people most often have other people much older and experienced than them dealing with other parts of the business.
Remember kids, Bill Gates, one of the worlds richest people dropped out of school! (Forgets to say that he dropped out of Harvard)
And that he never really had a rags to riches story.
@@bluz1864 hes a riches to more riches story. Which is the story of most rich kids i guess.
@@Daniel-tx2vt
No. More like a well off to riches story.
@@Daniel-tx2vt nah he went from riches to literally richest lmao
Forgets to say his mom was an IBM exec, which I'm sure had nothing to do with Microsoft landing its first contract to build IBM's OS before they had a working prototype...
45 is actually younger then I thought but make total sense. 40s you can still have young energy and the experience and wisdom of an established professional.
You have also most likely be trying for some time, made a bunch of mistakes, learned from them and are humble enough to be paranoid about learning and improving rather than displaying the arrogance of a 19 year old that thinks they know everything.
It is the average. You can see the big spike from 30's to 50's.
@Biology Discussions yeah well 45 is the average like someone else mentioned so a lot are probably 50 - 55
It`s most likely the result of averaging all those people because there are people who start their business really young and they pull down the average considerbly.
If you get 1 person at age of 18, 1 at the age of 27 and 5 at the age of 55 your average would still be around 45. If you look at the median instead the age would probably be well into the 50s. 55 in this example.
This really took a ton of anxiety off my shoulders at 40 years
I'm 31 with a ton of anxiety for my future. I cant imagine how you feel brother.
I'm 7 years old and I already have a 8 figure company. About to drop out of primary school and buy a Lamborghini. You loser
@@dopemusic6414 🤣🤣🤣🤣
Nah 40 you are fucked my dude
There’s a great book called Late Bloomers that came out a couple of years ago. I think you’d find a lot of benefit from it
My thoughts:
- Patience is a virtue
- There’s no rush but remember life is only temporary
- Stop comparing yourself to others whether they have what you don’t or do what you want to do
- Stop living your whole life based on trying to create a $1B unicorn startup at any age
- Aim for something more achievable and realistic - whether it be an internet or physical business
- Have lots of employable skills and a backup plan to fall back on
Wish we could apply this in real life but the environment does not allow that to happen.
That's exactly what I've realised a few months ago. With the increase of 20 yo college dropout so called 'Internet millionaire', it felt like college is a waste of time. To start a business and become a millionaire by 25 is the best way. What I've realised it's that we must have patience and that there is no need to hurry, what's much more important in early 20s is to gain imp skills, understand how world works and build long term relationships. Everything will get figured out along the way. Life is a marathon, not a 2 year sprint.
We need people like you in the mainstream, who talk sense, backed by statistics.
It's survivorship bias on steroids. College isn't the meal ticket it used to be BUT, it's still way more reliable than dropping out and or never going. The number of college drop outs who are millionaires is infinitesimal when compared to the numbers who never become millionaires.
Also at some industries you need a graduate degree or MD prior to being a success story. Biotech Industry is one of these industries since I majored in Biology in college is one of them and I am aware that this group do not become a success story until we are close to 50 years old.
Be patient, don't be afraid of failures.
@Anon If all you do is fail and you learn something from those failures, then you’re not a loser, you are wise. Loser is he who sees failure as the end.
@Anon Picking the safest route every time likely leads you to a life of mediocrity. Sure if that's enough for you nothing wrong with it I guess, but I respect people who take calculated risks rather than always picking the safest option. It's funny cause your type of people not only discourage other people from taking risk, but you also absolutely hate everyone whose risk taking paid off. I mean if that's not loser behavior, I don't know what is.
@Anon if all you do is fail you're doing the wrong thing
@Nope Leave Me Alone
If you always failed and never progressed then you should move on to something new.
People are going to be afraid of failures because of this concept known as "risk tolerance"
If you fail and that means you are going to be evicted and have your health insurance drop, you might be afraid of failure.
People born into parents who have some ownership of property have higher risk tolerance because their failures don't mean they become homeless.
Colonel Sanders was 65 when KFC took off and Ray Kroc was in his 50s when McDonalds became a national franchise. Henry Ford was 40 when he started Ford Motor Company.
These are exceptions though, most entrepreneurs have to start young, I’m quoting someone who actually was a billionaire in his book, a guy called Felix Denis.
@@fidelio9301 but I guess the OP wasn't about starting young, but rather that through long time, entrepreneurship gets successful, was it?
Christian Bale and Tom Cruise were in their mid 30s when they got their big breaks. Most big actors did.
@@TkevTV That much is true, but you must start young so you have the energy to do so. In the case of Ray Croc he did actually start older as did Ford, but they are definitely exceptions.
@@TheXabl0 True of some, not true of others.
Thank you so much for making this. I'm a 36 year old serial entrepreneur. I started at 19, and I have yet to be successful at anything that I've tried. As I approach middle age, I have learned the hard way that big success in your twenties or early thirties is rare. The fact that I have not found it yet does not mean that I'm a failure, it just means that I'm normal.
Older Millennials have been beat over the head with this notion that they are failures if they don't have a few million by 25. As we start to age, it weighs on us more and more - even though it shouldn't. We really need to correct this false narrative because it is needlessly effecting a lot of peoples self esteem.
^^^^^^^
Hey you... yeah you... wishing you much success bro. Keep grinding it out champ.
As long as it's fulfilling and profitable, you need to be making tons of money. At the end of the day, whatever business you're in providing value to your customers and making a profit or not no matter how small is worthwhile.
I just turned 39 and I'm in the same boat. I started my first business when I was 23 and have just now begun to see something that resembles "success". If it was easy, everyone would do it.
@@realRichHunting ditto, most people don't have the grit to make it... minus the survivor bias most people struggle before finding their way.
Ironically 10 years into a project i was seeing some great success and then the pandemic hit in 2020... set me back, but i used the time to create a new project that is now gaining traction.
If living your dreams was easy, everyone would be doing it...
Honestly, a lot of these entrepreneurship gurus you see online, the giant share of their income comes from UA-cam or classes they sell online... Not from their 'business' or 'hustles'.
I wish coffeezila would investigate this!
I am 29, almost 30. I had to work most of the time in part time mediocre jobs so I just finished my MSc a few months ago. Don't get drawn out by this artificial pressure to be successful by the time you are 30! Besides being successful is a different thing for everyone. Others focus on career and money and others find happiness in a stable life that will give them a chance to have a family! Don't make choices that are not your own because of stereotypes that just want you to exhaust yourself.
I started my first business at 24... I’m 28 now and I’ve just had my first million in revenue..... it’s a grind, there’s no lambo’s and private jets, it’s not flashy while you build a company.
@R L so what? That is something he achieved and is proud of. You can’t compare peoples achievements. He/she/etc is proud of what they have achieved, let them have their moment. 🙄
what business? meth?
Proud of you!
Any advice I’m starting my first company now too.
" it’s a grind, there’s no lambo’s and private jets, it’s not flashy while you build a company." => let's be honest, it CAN be flashy... but it's usually a red flag for a poorly managed venture capitalist vanity project destined to pop like a bubble.
Honestly man, thank you for this video, I’m 18 ever since middle school I been stressing about my future and how I’m going to get this money, but I didn’t realize how many options and time I still have. 🤞🏼🤘🏽🙏🏼
You'll be fine as long as you don't waste too much time on chasing romance, video games and partying. Getting good skills takes time and dedication, something I wish I had started working on earlier instead of hanging out and getting a mostly useless university degree. The people with successful businesses that I personally know are indeed in their forties - fifties but they all had a very impressive portfolio of skills with which they could start their own ventures, a network of personal connections that helped them gain funding and their first customers and also quite a bit of luck. Many people fail to gain such skills or are simply unlucky so there is no shame in being an employee instead of founding your own company. Becoming self-employed is always a huge financial risk and most ventures go bust in their first year, it's a statistical fact.
This video is pretty spot on, but at the same time it is a paradox. Without the pressure of feeling behind, you can fall into the trap of being lazy. Urgency is important
Just don't get "too comfortable".
Just to share, I'm turning 27 this month. I was always the honor student back then and thought I had it all figured out but boom.
Life happened. I won't go into specifics but money was hard and my plans changed because I only got to college because of an engineering scholarship. I never failed a subject either but I dropped out because I just couldn't handle the pressure of school and work then. I even found out I hated electronics engineering (I still understand some concepts though and it's useful at home)
Ended up in dead beat job, hot depressed but after that terrible job and a low paying job I loved, I ended up getting a good paying job. I found I love IT so I enrolled in online learning (which wasn't common in my country before the pandemic so it's funny in an ironic way) to sharpen my skills more. I recently got promoted and once I finish my course, I'm planning to take some freelance work first before even considering starting an actual business.
I'm not felling you not to think about your future; you should. I honestly think I'm here too because the discipline I got from school and at home helped BUT I had to teach myself not to be too hard on myself.
Depression and burn out are real and will set you back in more ways than one.
So I didn't finish college; I found what I liked.
So I didn't have the same advantage some of my college friends had; I had to figure things out through experience and failure.
I don't have the answers and I'm still confused most of the time. I still get bothered sometimes because of the obligations life threw my way and I will inevitably end up questioning myself on other days. It's fine.
Take care of yourself, put yourself out there, be alert and mindful but don't panic about it.
TLDR: It's okay to not have all the answers or get it all right.
I am 31 and do well for myself...The best pieces of advice I can give you in your 20s is to not be afraid to pivot, always say yes to new opportunities even if you are worried you are not good enough and don't stress, most of us who appear to have their shit together are just winging it... life has its ups and downs and, trust me, things always work out, even if at the time it seems like they never will...
@@alterSchwede46 what do you have against romance, video games and partying? If that makes someone happy that's great and I'd argue being happy better than being succesful
This entrepreneurship myth has made people wary of getting their hands dirty. Which you cannot escape if you truly need some experience.
I was watching a documentary about "teenage successful entrepreneurs" who claimed to be self made while living with their parents rent free and getting allowance.
Try to start a business with a full time job, kids, mortgage, student, stress, divorce, and health issues.
At 26 I've really felt pressured to make to have a functioning company by now and its been giving me anxiety . This video is just what I needed to bring me back to reality
Fr I’m only 20 and I’ve been having bad anxiety to since I feel like I’m not “successful” yet and sometimes I try to remind myself that there’s no need to rush things
Same here I’m 18 currently and would definitely say the same. My problem is that I’m so passionate about my ideas but I lack the ability currently to have a solid plan I guess. I’ll definitely do my best to relax and take my time
I'm 15 and not even a millionaire yet 😫
@@mcjesus5603 ideas are worthless in business lol
Move out of the city and just live your life
My parents purchased a convenience store at 40 and they have been in business for 18 years. Matches up!
People that are in their 40s+ also have had more time to accumulate resources to start a business, more time to network and make connections, try and fail at other businesses, etc.
A lot of kids need to hear stuff like this, the pressure today is crazy!
I’m 35 and I literally just learned about my fixed mindset vs the ability to learn new skills. I’m just starting out in growing and improving and I couldn’t be any happier.
My issue with the message in this video is that some people may interpret it as "you can relax until you're in your 40s". Keep in mind that these guys that are highly successful business owners, have been grinding their craft and their business(es) ever since they were a young age and persevered UNTIL they become very successful. If you decide to start your FIRST business when you're 40, there's a good chance that the business won't succeed. But lets say if you have experience starting businesses and you genuinely try your best starting from a really young age, then chances are you will have many failures throughout your journey but perseverance and working hard and smart will be the thing that will eventually turn you into a successful entrepreneur at a later age.
Even the young people who are successful when they're young usually burn out early.
There's very few successful people that have stayed successful since day 1.
Buffett is really the only guy who had it and held it his whole life.
well like he mentioned in the video, if you work in an industry til youre 40, you probably do indeed have a very high likelihood of being able to start a successful business around it in some way shape or form if you so desire and have the mindset. i do see what youre saying as well. but i feel like ive seen plenty of older folks who worked in industries for a long time come out with an app or a product that helps people enough to hit a critical mass and they become successful. he also specifically said that hes not saying to wait until youre 40 to start a business.
I'll agree that a brand-new, outsider voice isn't likely to break into an industry and succeed as an older first-time entrepreneur. However, most late starters have spent years in their industry as W-2 Employees in management, leadership, and quality, identifying where the opportunities and gaps are before they branch out on their own. They essentially incubate their ideas, their business models, and their network connections, under the safety net of a stable salary. It's a big mistake to act as though the whole of someone's journey before they become an entrepreneur is wasted effort.
@@THICCTHICCTHICC Completely false. You're only Focusing on top 0.04% what about remaining who have achieved at small scale? Also, how about Elon Musk, Jeff Bezos, etc.?
@@armada70 Musk and Bezos were not successful their whole lives. Amazon lost nearly 90% of its money at one point.
Buffett was a successful investor since he was a literal child.
My mom left my alcoholic dad with my older sister, ended up fired from her job and we lived in our grandparent’s basement for years. She took her severance and decided to start a company in that basement. And she was 36. 30 years later she now has 4 companies, 52 employees and now handing it to me and my sister to run. It’s been a crazy ride.
Wow your mom is legendary!!!
I started at 25... I was clueless and got lucky. In retrospect I was a moron. I'm just finally getting there.
Any tips
No, like I said I'm finally getting there so I'm definitely not qualified to give anyone advice. The only thing I can confidently say is if you can't function under stress dont go into business.
Wise words
@@charlesmccarthy6664 someone actually doing it saying he doesnt think he’s qualified enough to give tips and then you got 18 year old “EnTrEpreNeurS” selling 997$ courses for their mastermind blueprint lmao. Your a good man
Started at 19 and got HELLA lucky that my idea worked and can make a good living off it right now but I am nowhere close to successful. It takes a shit ton of time
I wouldn't say "relax" because successful people have a certain drive and determination. I would say don't think it's over when your 30 it's only just begun.
No I would say relax. Even John D Rockefeller wasn't a workholic. He actually had a very balance life.
Getting rich slowly over time sucks!!! If you are in your 20's being 30 is something you can not even conceive yet . Being 40 sounds like a near death experience. When you're so young you never understand how much of life you truly have ahead of you. This misunderstanding creates an artificial pressure on people who wish to be known as extraordinary and that's a huge problem.
Underrated
@@Gaius_Julius_Caesar_Augustus Then why not actually working on becoming a millionaire or billionaire? I don't see the logic to be against becoming a millionaire or billionaire.
The average like expectancy is 70. Yeh sorry I have no time to loose. Start a business as soon as you can. So you can fail young. Learn off your mistakes young and enjoy ur life of freedom young
@@dreisiglps2451
You're not just gonna "become a billionaire", that's ridiculous. You don't become part of the elite class by hard work, and no one should want to either. They're the enemy.
@@viktorthevictor6240 Ok, then through smart and hard work. Little to no luck involved. The worst enemies are the politicians who let the atrocities of Corporations happen, because they care more about getting paid a lot of money by those Corporations than about your wellbeing. Maybe I should become a politician. Then I can exploit my people so much I want and be unaccountable, no matter how much suffering I would cause. I'm still young, so I have time.
This whole trend of you have to be a young millionaire/billionaire entrepreneur just adds a lot of unnecessary pressure. A lot of us simply don't have the resources and expertise to make this a possibility in our 20's.
IMO if you get into entrepreneurship for recognition you are in it for the wrong reason. Great entrepreneurship comes from having great ideas, not just "grinding" and hating the idea of a job. There are a lot of very rich and successful "workers".
Experience grants you access to a strong network of highly skilled people.
In order to start and run a successful business you need good people around you.
No matter how skilled you are, you cannot run a business all by yourself.
All these ultra rich and highly successful people have an amazing team.
True...Experience makes you humble and sober minded aswell. Humility makes you comfortable hiring people smarter than you and listening to their advice.
When you're younger and naive you think you know everything! And your risk assessment ability is usually poor!
People mix up "trying to succeed" or "faking until you make it" with entrepreneurship, while 99% of those under 25 never studied entrepreneurship, business modeling, and not even basic finance.
Experience, skills, and knowledge are the trio that every entrepreneur should have.
This is a really important video. I spent my 20s learning from others, my 30s experimenting with my own ventures and at 40 I am a little below a 7-figure business with a shot at an 8-figure business by the end of this year.
Mind sharing the category of business?
It took you 20 years💀
@@baderhabib6606 cope
Must be nice. I wasted my life making minimum wage, getting myself into deep debt going to college, only to continue to make minimum wage. My life was over before it began.
Only if you think with a money mindset.
Many people are happier than most capitalists will ever be because they don't care about money, but about the people they love. 😊
I think the biggest problem is the inability to accept failure among young people. They are pressured to be rich at a younger age and success is only shown one way, with money. I would never trust someone who just graduated college to be a CEO because I know how I was when I graduated college, I didn’t know anything about running a business and it’s not easy as naive people will make it sound, or MLM reps. It’s a massive commitment and uphill battle. I’m now in my 30s, worked and have a much better idea how a corporation works as well as gained value skills in accounting that college didn’t teach me. But even then I would never want to start a business now I wouldn’t even know what I could bring to the market. In my own investing I trust older companies that have a proven track record not a start up by a college drop out.
Honestly, these wild success stories, especially regarding wealth, can usually be explained away by survivorship bias, luck and family background.
Something people don't seem to get is, if the media covers something, chances are they're doing it bc it's rare and striking. Even if they cover it a lot.
If UA-cam had a superlike button, I would hit it for this video.
@Coffeezilla Almost got me on that one, until I looked at your account lol.
@Coffeezilla 😂😂😂 dayummm, I was about to drop a message untill I looked closely
Me too!!
It used to have that.
@@Tarik360 Really? I didn't know that.
I was working in Silicon Valley in my late 20s and I felt like such a failure just counting down the few years I had to make it into the 30 under 30 list. It felt like everyone around me was on it. I hope everyone in the world sees this video.
my boss started up his own company in his 40s, i wont say he is dripping rich, but he is doing pretty well, the company is doing well. compared to my friend, who started his company in his 20s, the exact same industry, same company size and everything, i can see clearly the difference in how they handle money and their expenses. longer life experience does make a huge difference.
I’m more surprised that this mentality surprises people in our instant gratification culture. It actually fits perfectly into today’s standards. We can have food delivered in 10 minutes, binge watch entire seasons of our favorite shows in one night, get ripped bodies in 30 days, rich in even less time and buy now pay later for everything we are brainwashed to think we need. And even that has same day delivery.
This might be the most inspirational video I’ve ever watched. It honestly feels like a weight has been lifted from my chest.
I just watched the doco about Elizabeth Holmes on Foxtel, I am just amazed how all she had was a story and that was enough to sell her idea.
She also had a masculine voice.
Well she had the attributes or abilities to sell that idea to the right people at the right time. But that could have just been luck of the draw. But yeah it's wild how simple it can be sometimes. My dad's first boss who he worked with until he was 30, built a few businesses with, always told him "Mike, at a certain point, not really sure where, it's far easier to go into a bank and get a $1 million loan than to get a $10,000 loan." That's basically what that means. There's a lot taken for granted when you're viewed as high class, intelligent and have a good idea. And it can actually be oddly easy.
@@kevindudson2344 her voice sounds like the one they usually use to protect someone's identity.
@@e4unow421 *Lel* True
@@e4unow421 because that's what it was. Her actual voice is more feminine, she put up an act with that masculine voice
Underrated video. I worked at a non-profit VC firm for a couple years and I saw PLENTY of founders in their 40’s come through the space. These guys were always the most knowledgeable too which added a layer of trust that you can’t find in younger founders.
Thank you so much. I needed this right now. As a 33 year old entrepreneur whose business was wrecked by Covid - I was always thinking that “these are my last legs”.
Your video gives me the pragmatism to keep on keeping on. After watching your video, I realize that I am not behind the curve despite feeling like it - but I actually still have a good 10 years of development before meaningful peaking.
Your video grounds me and gives me hope. Thank you again.
How many of these "30 under 30" wunderkinds are still at their companies and still growing and not disgraced fraudsters who are probably going to prison?
I actually know one who is the real deal.
@@jacklightner4851 who
When I was 16, I never imagined I would still be trying to figure out what I'm going to do now at 22. I thought 100% I would be rich by this age. Every year, I've felt like, well I didn't make a lot of money like I planned to, but I did learn a lot, so maybe next year it will happen.
This coming year will be the first year that my goals are growth based, (this year I want to learn about x y z), instead of results based. (This year I want to make/have x y z amount.)
Dude you are really learning the most important thing and that is- information/ knowledge/ experience is the most important thing you can have. I have failed at 2 businesses and my cousin just asked me what do i regret the most in my life. I said not having enough knowledge to take a good decision.
Always remember that the internet exaggerates. These teenage TikTok ‘entrepreneurs’ are not normal, reasonable, or even particularly desirable goals. 22 is still a very young age to be starting your own business. 30 is still young. Most success you see on the internet is lies, deceit, or someone else’s money. Just focus on being secure and happy with your own life choices and business decisions. There’s still a lot of wisdom in the saying “slow and steady wins the race”
@@Damesanglante yeah you are right.
Please keep this type of content coming. A vast majority of us prefer this content than the memes
Shut up stop scamming ^
I really appreciate this video man. I’m 26 and still a w-2 civil engineer with aspirations of owning my own RE development company. Social media and other outlets made me feel so far behind and honestly a little embarrassed to still be working for someone else. I know now I can relax and I’ll get there once I’m ready. I’ll work towards my goals everyday but I’ll take it one step at a time and enjoy the process along the way. Thanks man!
I hate our cultures obsession with youth as I have aged I have realised how much experiencing certain things are important as compared to just taking knowledge. Honestly late bloomers are way more inspirational to me than prodigies .
A lot of knowledge can't be taught in a classroom. You can teach business all day long but nothing beats experience. The only thing that beats experience is education+experience!
These people better watch out or more George Santos type people start showing up conning their way to success if we keep having an obsession with youth having early success.
Yes Late Bloomers have more of the experience part.
I'm an artist. I can asure no such thing as a self-made artist. You always have to work with people. "Self-made" people are mostly frauds.
@@Skoopyghost agreed and "Self-Made" people have a way swaying the Venture Capitalists in their favor.
"Those who cannot do. Teach." Applies to all gurus 🤣
I’m sure all teachers around the world would agree with that.
It's rather mixed really.
@@heyasmusic7553 true, but you know how you point them out? It’s the ones who call themselves gurus. A genuine master of an art would not call themselves a guru, they would only be given that title from others.
Applies to every college Professor
College teachers fit that description too
What bothered me is that those advocates of young entrepreneurship usually disdain education and promote anti-intellectualism.
It is not ironic; it is hypocritical when tech unicorns downplayed the importance of tech
Good ol’ Dunning Kruger!
Not to mention most of the technology they commercialize was developed in public research by ppl with formal educations.
"usually disdain education and promote anti-intellectualism" I thought that they actually touch here the third rail by pointing out that formal education instead of being silver bullet making everyone smart and providing him with stable middle class job, actually is showing clearly diminishing returns and has highly varied relevance pending on field.
@@useodyseeorbitchute9450 lol, so did you get your financial freedom after you kiss the asses of those self-made gurus?
@@useodyseeorbitchute9450
I admire people that learn. I learned about being a good mentor when I was broke at the University of Hawaii from a store manager, as well as many people that didn't have a diploma. Many of them made a good living by doing what they are good at.
They are not those shameless self-made gurus that told you education is useless and kissing their asses will give you financial freedom.
Even a real estate or a stock broker will have to start with something small, learn to hang out with clients as well how their market works. They will put in as much time and energy as pursuing a school degree.
Jobs are underrated. I saved alot into my 401k in my 20s and early 30s I can probably try entrepreneurship in my 40s after I gain enough skills and a client base.
I have though about that as I will be a multimillionaire in my 40s but at that point, why risk it. I can easily retire in my 60s with around 15 million. Why risk that future to try and make a startup. if anything, I would prefer to find someone else who has the good Ideas and invest in them for a small cut percent ownership.
Yeah I'm planning to do the same just at a slightly younger age. Invest in my teens and 20s and probably do a start up in my early 30s.
@@tidus9942 Business is about the journey not the destination
@@tidus9942 Everyone sees things differently, but what guarantees you'll get to 60? I hope you love to 100 years but nothing is guaranteed
@@tidus9942 thank you!!!! You get my point. This is what I have been trying to say. You have built up savings over the year so really why risk it?.
I'm 28 years old, I'm trying to finish med School right now and I know it's a long career and I'm grateful to have my parents support, but there's days when i feel like I'm a failure, touching 30 years old and still relying on my parents, many of my friends have graduated and have their own place and family now. I don't have an income of my own and don't have spending money. All i want to do is finish school so i can move on with my life and not feel so trapped.
True plus health care and biotech success does not happen until we are 50 years old. I did the same not by Med School but by getting two bachelor's degrees related to each other like Biology and Biotechnology.
My 30 year old advice to 20 year olds is that you truly don't know yourself as much as you think you do. I had a major breakthrough... sort of a second puberty at the age of 26 where my brain exploded with new cognitive abilities that really allowed me to know myself in ways I could literally not understand when I was 20. Therefore literally dont settle on anything in life just as yet, because you have no idea who you are and what you actually like in life as yet. Dont focus on your friends as much because 99% of them will not be there in 5 years. Dont focus on relationships or atleast try not to take them too seriously because as much as I hate to say it ... theres about a 99% chance you dont know yourself enough to even know what you want from a relationship and what a genuinely good relationship requires of you or a partner. Im 30 and im willing to accept that even now after deep exploration, I may truly still not know these things. I'd appreciate any advice from a 40 year old or even a mid 30s man who is an intuitive deep thinker who has explored himself in depth as I see myself becoming you one day. Thanks in advance. :)
I guess they'd tell you the same thing. "You know nothing John Snow, keep learning."
Great advice!
I'm glad this video was made. Social media used to make me think I was running out of time to be successful even though I'm only 23 🤦♂️
My dad was literally just telling me the same thing last night and I didn’t listen. I’m embarrassed that I didn’t think he knew what he was talking about.
Usually when people becomes successful at their young age (especially in the acting industry), there's chances that will fall down in the future.
No it won’t lol. Successful young people with business will always be ahead of everyone else in terms of everything
Hey Coffeezilla. I needed to see this. Thank you.
I Have been trying to crack this nut since I was in my mid 20s (+-7 years ago). I'm 31 now, have failed a few times, and have wondered if I'm just bad at being my own boss.
This video has made me realize I'm not useless and I should stop watching UA-cam and feeling bad. In the greater scheme of things, I'll only start worrying in 9 years.
I agree with getting experience before taking this plunge. I would've been nowhere had I not had some corporate, marketing, and sales experience.
Cheers!
Call it opportunity, or call it luck: a lot of successful people work hard, but they happen to have the right opportunity appear. Could be the right time, or right person, or right place, or all (e.g. Steve Jobs met Woz, in Silicon Valley, at the exact right time).
Lots of people work very hard but don't make it. They're not doing anything wrong.
The best 'Young Entrepreneurs' in my country at least (Australia) are the plumbers, electricians etc. who get their trade by age 20-ish and by their mid 20s have their own trade business. I'm late 20s and my business is just starting to get there. I'm not a tradie though, I'm a trader/investor lol.
I don't know Steven, but you have just decrease many of the other youngers anxiety, it is truly giving impact.
You need to make more videos like this. Telling stories and sharing knowledge at the same time is entertaining to watch, and you're naturally good at it.
I bet this video is going to be a 1/10 on YT studio. Please make more videos on life advice, because I believe you have a lot of wisdom you can share with us.
And don't stop when you hit 1M subs, push for 10M. I know you can do it!
I think it's extremely important that people, especially us who are in our 20s or even younger come to fully accept the fact that it's okay to not be a giga-grindset monster or someone who leaves a big mark. It's perfectly okay to be just some person who works at some place, as long as you're happy it doesn't matter.
And it's hard to do trust me, sometimes still I get the creeping dread that I need to start rushing because most people I know are getting married or starting families or things like that; but it's important to realize that life isn't a race. Take it at your own pace, comparing yourself to others like that will only lead to misery.
As someonw who started a biotech company in my mid20s and failed after 4 years I felt the pressure that I had failed at my one shot to become a succesfull entrepreneur and that all that I will do afterwards will be in the shadow of my past "success" but I'm 30 and having economic and emotional stability for the first time in many years and I'm great! I'm going back to college to do a masters and probabbly will launch another venture in a couple of years in my mid 30s and hopefully not burn it to the grounds, and it's ok ...
Currently 24yo... for some reason I didn't think I needed to hear this. But now, I'm actually really happy I did. :)
If someone wants to go into "entrepreneurship" that already seems like a mistake. Wouldn't it be better if someone with a specific skill set and knowledge base wanted to take those skills and knowledge and use them to create new products and services that benefit potential customers? The idea that "entrepreneurship" is good in and of itself smacks of the same silliness (and often evil) of people who want to get into "finance" where all they care about is ROI and don't give a damn about employees, communities, or customers.
Dumbest thing I’ve heard
I am confused. Are you saying having your life course forever decided by a shrinking pool of bosses is better?
@@auraguard0212 No. What I'm saying is that you should have something to bring to the table before creating a business around it. Just wanting to "be your own boss" or "be wealthy and successful" should not be anyone's watch words. Being able to contribute new and useful products or services to the community and getting rich and successful as a byproduct is a better way to go.
@@springinfialta106 you just defined what an entreprenuer is. they contribute to society by creating something new with a set of skills and use it to build their own success.
@@manvelmkrtchyan8939 Unfortunately some people equate entrepreneurship more with the rewards of success than the benefits to customers.
Almost like being a successful entrepreneur requires a *lifetime* of experience and dedication.
Ironically the "young entrepreneurs" are typically insufferable to work or collaborate with.
One wonders how they'll "change the world" when no one's there to help them do it.
Humility might be the kryptonite of young entrepreneurs, which is a shame.
Whew I needed this !I was feeling a lot of pressure because a girl I know, who is younger than me, just got a huge investment in her company. I'm 30, and want to be an entrepreneur someday. My parents didn't have a lot of money, and my first years of working were spent at startups where I made very little money and learned a lot. Now I have a well-paying job and I am saving up for when I'm ready, but today I was asking myself what I'm doing with my life. Now I feel more confident to keep going with my plan!
This is one reason I like gary v. He continually reminds people of this. Most people his age would feel old. But he's literally just getting started.
Good stuff! I used to literally be angry with myself for having not achieved millionaire status by 30. That is, until I did some very similar research, and realized that very few people actually do what it is that I was trying to accomplish. I also realized that where I got the idea from that I'm supposed to be rich by 30 came from the self-help, dream-selling gurus.
I'm 33. I've always wanted to own a business but I've never had the money to. I'm finally coming up on some money and it's awesome to hear that it's not even close to too late to start thinking about owning a business.
You don’t have to build a million dollar company but in this age, we definitely need to start a business in order to live comfortably. Without going into crazy debt for a college degree, you’d never be comfortable working for someone else. They just aren’t willing to pay enough for you to live comfortably.
Depends what comfortable living is to you. A 60K salary (what professionals usually make) with a simple lifestyle and proper investment ability goes farther than people think. The problem is many Americans are addicted to spending, and so the idea of having $3500-4000 a month sounds like nothing to people who are probably going to drain over $500 each month on a depreciating car, spending $1500 on a 1 bedroom apartment and blowing the rest of their money on eating out, buying so many things they don’t need and more.
@@hiphipjorge5755 not a lot of people can actually land a job working for someone else making that much money, and yes that is a perfectly reasonable salary. However, at least for me, no one is willing to pay that much for someone without a degree (and a mound of debt at that).
So I had to make my own way. I don’t make six figures but I make more than any employers would pay for my time. And I work less than they would make me work for that salary.
Most people in my economic class will have to start a business if they ever want to see salaries over 40k/yr. Not all, but a lot of us.
The reason the miss prevails is because the media always highlights the prodigies such as Bill Gates or Steve Jobs or Mark Zuckerberg.
And the little piece of information that they seem to not put on purpose . Is that those people were extremely well connected
Look into “young entrepreneurs across America” the college painters scheme
Dang 😭
That's why I always liked Gary Vee's message whether he's a scam or not. He's always been preaching this.
Thanks for this Coffee!
Many young entrepreneurs misunderstand cash as income. There are also unqalified expenses that you entrepreneurs claim as bona fide business expenses. They get in trouble often with general lack of business accumen. I also see this media trend where young entrepreneurs assume they have life wisdom and get suckered or commit fraud.
I decided to start a Video Production Company right after turning 21, while still deep in study, AND making UA-cam Content. I don't know why but I feel pressured to keep working my ass off because of the standards displayed by the media. This video massively changed my mindset, thanks.
I'm 25 and have been working on my venture for 5 years. I didn't go to college cause I thought I'd be the one to make it.
Thankfully I haven't failed but I do really wish I finished college or actually went to the military and traveled a bit. But the past is just that. Keep moving forward. Hopefully all goes well, best of luck to all.
This thing is actually more motivating than all the get-rich-quick videos or even motivation podcasts. It simply shows you that hard work pays and you should run your business, even when young, based on some sort of rational thought and not just try to go for easy profits.
Thanks for shedding light. I've left my 20's behind and I like to think I'm more capable of starting a company now than I was 5 years ago and that it has a better chance at success now than it did.
I remember 10 years ago when word "entrepreneur" didn't exist and people actually tried to find work and not just scam.
Great video. I roll my eyes every time I see a UA-cam ad with someone that barely looks 19 showing me "his" Lambo.
When he makes videos like this, Stephen just seems like a wholesome dad.