Starting a business has never been more relevant — or more accessible. Today’s young professionals know that a single employer for life is a thing of the past, and many are choosing to bet on themselves instead. Whether you want financial freedom, flexibility, or simply work that reflects your values, entrepreneurship could be your path.
But getting started requires more than just a great idea. Here’s what you need to think about before you launch.
Is Your Idea Actually Viable?
Before anything else, you need to know if people will actually pay for what you’re offering. This is where market research comes in — understanding your potential customers, competitors, and industry trends.
Start simple: survey friends, run social media polls, and analyse how competitors price and market their products. Focus on identifying the specific problem you’re solving or the gap you’re filling.
Take Ishaan Bhimjiyani, a 20-year-old education content creator who started making revision videos on TikTok. He initially earned through brand deals, but quickly spotted a bigger opportunity — helping other education creators do the same. “Those of us talking about education had the perfect audience of 13–25 year olds, and brands would pay for access to them,” he explains. Today, his talent agency TapLab represents education creators and brokers brand partnerships on their behalf. His advice? Stick to what you know: “I just wouldn’t know what I was doing with beauty content creators.”
Get Your Pricing Right
Pricing is where many first-time entrepreneurs slip up. Before setting a price, calculate every cost involved — materials, packaging, shipping, and your time. Underpricing is a common and costly mistake.
Lola Wolfreys, who launched her jewellery brand LolaVeraWolf at 21, learned this the hard way. She initially priced based on what she personally would pay — without factoring in the time required or retailer commissions, which can be as high as 40%. She eventually moved into silver jewellery to justify a higher price point and now ensures every production cost is reflected in her final figure.
Market Where Your Customers Are
Young entrepreneurs often have a natural edge here: they already understand the platforms their customers use. Identify which social media channels, communities, or events your target audience frequents — and show up there consistently.
Wolfreys batches her marketing work, dedicating a couple of days to shoot, edit, write, and schedule content in one go. She also sends free pieces to micro-influencers (those with 10,000–50,000 followers) in exchange for tagged posts — a cost-effective way to build credibility and reach.
Build Your Network
Networking isn’t just about collecting contacts — it’s about building genuine relationships over time. Successful entrepreneurs consistently point to their networks as a source of customers, collaborators, and investors. Help others, share ideas, and build a reputation. The returns may not be immediate, but they compound.
Don’t Ignore the Admin
The less glamorous side of entrepreneurship — registration, taxes, licences, and record-keeping — is non-negotiable. Requirements vary by country, but your government’s official website is usually the best starting point. Getting this right from the beginning saves you from expensive mistakes down the line.
Starting a business doesn’t mean you need to aim for global domination. It can simply mean creating a career on your own terms — one that’s flexible, fulfilling, and financially rewarding. The key is to start with a clear idea, do your research, and build thoughtfully from there.
