When most think entrepreneur, many think some aspiring twenty-something looking for an investor in some venture-capital startup. Sawyer Howitt breaks both expectations. Having just completed highschool, Sawyer both represents and subverts the demographic of ‘young entrepreneur’, both for boasting the title of ‘Project Manager’ of the already established Meriwether Group and doing so before becoming a legal adult. And he’s not alone.
Seeking to encourage and aid other young entrepreneurs like himself, he has conveyed his experience in five principle tips for success for any entrepreneur, young or old, to use.
Don’t wait. Many seek to bide their time for the perfect moment that never comes and will never act because of it. Unless the obstacle is one of legality, e.g. licensing, don’t wait!
Match Employees and Work Environment
When hiring an employee, their happiness should be as big a consideration as their credentials. Unhappy employees are always less productive. So make sure the environment for them is a match for their personality. An uptight environ will drive the more free-spirited employee mad, and a lax setting may grind against that of a “type A” personality. Otherwise, you may not find the productivity you may otherwise achieve.
Shifting your focus to the latest, greatest idea you just had is an almost surefire way to lose whatever potential profitability you may have had, especially in the startup phase of a company. Set your goals and focus on them. Document ideas that may come to you, but unless your business is well established to where you can let someone else be delegated the major responsibilities, hold off on those until later.
Watch the Numbers
While cash flow is the most salient of things to watch and is largely a given, there’s other metrics that may be a better tell of where your business is heading. Key Performance Indicators are defined by the business as quantifiable metrics to determine how well your business is doing, potentially providing better metrics for diagnosing possible problems along the way.
Get talking to people, be they investors, vendors, employees, or even just your next networking opportunity. If you can’t do it or aren’t a people person, find someone you trust who can step up. Networking is the backbone of entrepreneurship and recognition. Without it, your business is dead in the water.