Entrepreneurship: Young people take more risks

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Entrepreneurship: Adults and young people take risks

But, young entrepreneurs are riskier than adults

While on a constant search of our individual economic progress, we have been forced to look for different methods to find a way of financially sustaining ourselves. Formerly, starting a business was something that very few dared to do; nowadays, this working option has become one of the most appealing and profitable alternatives in the work market.

Adults and young people are becoming new entrepreneurs. However, young entrepreneurs are the ones taking all the risks today. If we look at it from an age perspective is easy to understand an adult’s point of view when deciding not to take risks and keep doing what they have until now. The entrepreneur’s question is always the same: What can I lose if I take the risk?” An adult, whose experiences have been greater, is more fearful of failure, of having to start from zero, of losing it all and having to stand up again in a world that doesn’t stop for anything. Young people, on the other hand, know that even if they lose everything, because of the time they have, they will be able to start over one more time. They are also more optimistic when thinking of taking risks. When things are taken into consideration, experience and sometimes the “realism” adults have, make them think that there are more possibilities of them failing than succeeding. A young person, hasn’t experienced as much and therefore shows a more positive vision towards the future.

Entrepreneurship Adults and young people take risks
Entrepreneurship Adults and young people take risks

As the years begin to pass, comfort takes over older people. It’s easier to stick to what they have than risking their economic situation worsen if they make the wrong decision. Right or not, it’s a valid and respectable way of seeing things. Either way, many accept that we need to take risks in order to move on. Progress is not generated with stability, but with a constant movement of variables.

There are also cultural agents that explain the behavior of adults and young people. Today, there are several entities that offer support and motivation to start your own business. Before, it was even hard to be hired, education in many places was little and aspirations were lower than what they are today.

3 motivations of youth entrepreneurs to be riskier than adults

  • They will be their own boss: It’s the main reason everyone wants to start their business. Most of the people would love not to take orders from anyone and be able to make decisions in a company; and even if a business takes a lot of responsibility, there are many advantages to it, for example, setting up schedules, determining procedures, and of course, having a good salary.
  • Working in what they love: The fact that they make money from doing what they love is something that really motivates them. It’s the potential transformation of a job to a hobby.
  • Choosing who they work with: It’s a reality that a hostile work environment can make people stressed, pressured and be in a bad mood. Having the possibility of making a personal recruitment is a total perk when starting a new business.

Clearly, the list can be much longer and it will depend in every person. But, those are three of the main causes that explain why young people are willing to take risks and choose different and unconventional ways of dealing with their business. Optimism in the face of uncertainty is definitely one of the powerful reasons to take and know how to deal with risks.

 

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