If more and more people are enticed by entrepreneurial adventures, this is especially true for today’s youth. According to an OpinionWay survey conducted by France Active, almost half of young people aged 18 to 30 want to start their own business.
There are several reasons for this trend, starting with the desire for freedom and independence. However, the brakes still remain, especially the fear associated with funding. Here are some tips, especially from my experience, that might (maybe) help you.
Starting Young: Obstacle or Opportunity?
In recent years, entrepreneurship has become truly democratized. Now starting a business has become much easier even for the smallest. A generation of creative, daring entrepreneurs capable of innovation. Young people who also have more room to make mistakes, test, optimize, tune and find their cruising speed.
However, despite their great motivation, they still face many obstacles. Most importantly: lack of credibility and trust in an ecosystem often run by peers with more experience. On the other hand, lack of knowledge about the job and the various restrictions associated with starting a business are among the disadvantages that few people upstream are ready for.
Before you take the plunge, you must consider the 360-degree side of your (future) work. I’m talking specifically about human resource management and managing, operating and maintaining your professional network, acquiring and retaining customers.
How to succeed in removing barriers to entrepreneurship?
The hardest part is definitely the launch! When you start young, you start from scratch with no real professional experience. In this situation, the school curriculum can be a good element to move forward, especially when it’s one of the few real things that can be offered at this stage to convince investors…
But, above all, it is the ability to deliver a product, service, mission that will best be able to remove various obstacles to launch. A way to prove your skills in concrete terms. To do this, it is important to surround yourself well and feel free to ask for help, especially in the ecosystem you gravitate towards.
To unite around your project (teams, investors, etc.), you also need to know how to take a step back from your idea to prove its value in the target sector. This may require serious market research or even a small test that will demonstrate real interest in the identified problem. Feel free to ask yourself the right questions a few times: Why? How ? Which ?
Entrepreneurship in fintech: what are the benefits?
A sector under attack from all sides, the world of finance is still largely in the hands of traditional banks, most of which are reluctant to change. However, the growth of fintech in recent years has forced the sector to evolve towards greater innovation and flexibility, which is more in line with the expectations of today’s consumers. The main thing before you start your startup is to think carefully about its positioning and the idea of an innovative and differentiating service, especially in this competitive market.
Be careful. If you want to shake up this little world, you must be willing to work hand in hand with some of the traditional players in finance. Each needs the other to ultimately provide the best experience for their customers.
Before you start building fintech with both feet, you also need to be aware of the complexity of this highly regulated environment. It is very important that you are accompanied by a professional lawyer who can help you obtain the various permits and permits required for your business.
As you can see, finance is full of innovative projects for development. So, entrepreneurs of tomorrow, this promising sector is waiting for you!
This forum was written by a member outside the editorial board. Les Echos START does not pay him and does not pay for the publication of this text. Therefore, the choice for publication was made solely on editorial criteria.