Hey there! I’m Akiva Mensh, a junior at MTA and a passionate entrepreneur of four companies—small construction services, luxury watches, mobile car detailing/cleaning and waitering for small events. I have a mission to inspire others to chase their entrepreneurial dreams. I want to share with you why starting a business is a journey you can begin at any age—whether you’re a teenager like me or someone with more life experience.

Even though I am 16, I’ve started several companies while still managing school. It’s still a learning experience, but that’s what it’s all about, gaining knowledge that you can use in your adult years.

Last time, we talked about how a hobby can turn into a full-time job and the birth of a business. Starting a business can happen at any moment, whether you are young or old. What truly matters is acquiring the necessary knowledge and training to become an expert in your industry. When you start a company, it’s brand new and doesn’t have many referrals. Regardless of your age, beginning a business means starting with a clean slate. Your goal should be to maintain a stellar reputation to stay in business and achieve success.

The best part about starting a business today is the abundance of readily available resources at our fingertips. You don’t have to wait until you’re “grown up” to begin. Why wait? Build your knowledge now and start when you feel comfortable. That way, you’ll be years ahead of the game compared to anyone else. On the flip side, it’s never too late to start a business. There are instances where people prefer to hire more experienced professionals. As you get older, you’ve experienced things that young adults have not, translating into better business acumen. Often, older individuals with significant experience in a trade hesitate to start a business because of their age. In reality, they have a wealth of knowledge in their field, which means they know what they’re doing and can more easily please clients by delivering excellent work.

There are many pros and cons to starting a business young versus starting one later in life. Let’s dive into some of them:

• Starting a business at a young age has several advantages. One major benefit is having fewer responsibilities. As a teenager or young adult, you typically have fewer obligations compared to someone in their late 40s. This gives you the freedom to take risks and focus on your business. Additionally, young entrepreneurs often have lower expenses, allowing them to reinvest more of their profits into growing their businesses. Youth also comes with energy and a fresh perspective, which can be incredibly advantageous in a business environment.
• However, starting young also has its challenges. One of the biggest drawbacks is the lack of maturity and life experience, which can lead to impulsive decisions. For instance, young entrepreneurs might be tempted to spend profits instead of reinvesting them into the company. Furthermore, without proper time management and balance, young entrepreneurs might overwork themselves and experience burnout.
• On the other hand, starting a business later in life brings a different set of advantages. Older individuals bring a wealth of life experience and knowledge to their business, making decision making easier and often more sound. Over the years, they have likely built a strong network of contacts who can provide support, advice and opportunities. Additionally, older entrepreneurs might have more financial stability, allowing them to invest more in their businesses from the start.

In conclusion, starting a side hustle or a full-fledged business has never been more accessible, no matter your age. The key is determination, hard work and the willingness to continuously learn and adapt. Whether you’re young or old, now is the perfect time to start. Build your network, leverage your strengths, and create something amazing. The entrepreneurial journey is challenging, but the rewards are worth it. Remember, it’s never too early or too late to chase your dreams.

Keep chasing your dreams!

Akiva Mensh is a junior at MTA and is the CEO of four businesses; if you’re looking to start a business/side hustle please feel free to reach out to him for advice or guidance at [email protected].