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	<title>YFS Magazine - Startup, Small Business News and Entrepreneurial Culture &#187; young entrepreneurs</title>
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	<itunes:summary>Young, Fabulous &amp; Self-Employed</itunes:summary>
	<itunes:author>YFS Magazine - Startup, Small Business News and Entrepreneurial Culture</itunes:author>
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	<copyright>&#xA9; 2013 - 2015 YFS Magazine</copyright>
	<itunes:subtitle>Young, Fabulous &amp; Self-Employed</itunes:subtitle>
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		<title>YFS Magazine - Startup, Small Business News and Entrepreneurial Culture &#187; young entrepreneurs</title>
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		<title>Business Plan Competitions: 3 Things Small Business Owners Can Learn From Young Entrepreneurs</title>
		<link>http://yfsentrepreneur.com/2012/11/08/business-plan-competitions-3-things-small-business-owners-can-learn-from-young-entrepreneurs/</link>
		<comments>http://yfsentrepreneur.com/2012/11/08/business-plan-competitions-3-things-small-business-owners-can-learn-from-young-entrepreneurs/#comments</comments>
		<pubDate>Thu, 08 Nov 2012 13:00:34 +0000</pubDate>
		<dc:creator>Shauna Mackenzie</dc:creator>
				<category><![CDATA[Getting Started]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[business plan competitions]]></category>
		<category><![CDATA[teen entrepreneurs]]></category>
		<category><![CDATA[young entrepreneurs]]></category>

		<guid isPermaLink="false">http://yfsentrepreneur.com/?p=13845</guid>
		<description><![CDATA[Here are three things every small business owner can learn from young entrepreneurs.]]></description>
			<content:encoded><![CDATA[<p>Recently I attended a <a href="http://www.nfte.com/" target="_blank">Network for Teaching Entrepreneurship</a> (NFTE) National Youth Business Plan Competition. Two local students, who competed and won at the regional and state level, participated in the NFTE event. I attended to support them and to see what &#8216;younger&#8217; entrepreneurs are up to these days.</p>
<p>While, the two students I supported did not make it to the finals, they both won rounds to the semi-finals and gave the presentation of lifetime.</p>
<p>The business  plan competition was strong among the 34 student startups that participated. Everyone in attendance could see that these young entrepreneurs were the best of the best. It was incredibly inspiring to watch young entrepreneurs in action.</p>
<p>After reflection on the event I realized that while age and experience separate us from younger entrepreneurs, they certain can teach us a thing or two.</p>
<p><a href="http://www.personalbrandingstudio.com" target="_blank">Mark my words</a>, here are three things every small business owner can learn from young entrepreneurs:</p>
<p><strong>1. Practice equals poise.</strong></p>
<p>What really separates a good business presentation from an inspiring one? Practice, practice, practice.</p>
<p>Most adults can&#8217;t stand in front of a room of people and give a presentation with the poise I saw these student entrepreneurs bring to the table. I was absolutely blown away by their <a title="Build your Small Business through Public Speaking" href="http://yfsentrepreneur.com/2012/05/05/become-an-expert-build-your-small-business-through-public-speaking/" target="_blank">public speaking</a> skills.</p>
<p>Passion and excitement certainly plays a role, but what was so impressive is that you could tell these students had practiced their pitch till they were blue in the face.</p>
<p>Lesson? As entrepreneurs in varying stages of business development, we need to spend more time rehearsing. Whether it be sales calls, workshops, keynotes, or investor pitches, somehow along the road we&#8217;ve forgotten the importance of the dress rehearsal.</p>
<p>Athletes and musicians spend thousands of hours practicing for the hundreds of hours they spend actually &#8220;doing their craft.&#8221; Why, as entrepreneurs, do we neglect to build in some practice time? A strong and practiced presentation made all the difference (in terms of like-ability and advancement) when it came to judging these youth entrepreneurs; the same can be said of your business.</p>
<p><strong>2. Remain open and receptive to constructive criticism.</strong></p>
<p>Does age and experience make us less receptive to constructive criticism?</p>
<p>&#8220;If your first reaction is to lash back at the person giving the criticism, or to become defensive, take a minute before reacting at all. Take a deep breath, and give it a little thought,&#8221; said Leo Babauta the creator of <a href="http://zenhabits.net/how-to-accept-criticism-with-grace-and-appreciation/" target="_blank">Zen Habits</a>, a site that aims to help others find simplicity in the daily chaos of their lives.</p>
<p>&#8220;Instead <a title="How to Deal with Critics in Business" href="http://yfsentrepreneur.com/2012/06/11/startup-golden-rules-5-smart-ways-to-deal-with-haters-in-business/" target="_blank">take criticism with grace and appreciation</a>,&#8221; he says.</p>
<p>Even at the point where these young entrepreneurs probably felt that their pitch and business plan were perfected they were still able to positively acknowledge criticism of the judges. And they wanted more!</p>
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		<title>Bright Young Things: How to Overcome Age Bias in Business</title>
		<link>http://yfsentrepreneur.com/2012/06/26/bright-young-things-how-to-overcome-age-bias-in-business/</link>
		<comments>http://yfsentrepreneur.com/2012/06/26/bright-young-things-how-to-overcome-age-bias-in-business/#comments</comments>
		<pubDate>Tue, 26 Jun 2012 12:00:06 +0000</pubDate>
		<dc:creator>YFS Small Business Contributors</dc:creator>
				<category><![CDATA[Getting Started]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[young entrepreneurs]]></category>

		<guid isPermaLink="false">http://yfsentrepreneur.com/?p=10881</guid>
		<description><![CDATA[Here are five ways to overcome age bias as a young entrepreneur and let your youth and capabilities shine.]]></description>
			<content:encoded><![CDATA[<p>Ageism is something that happens to older people right? Sure. But, there are plenty of younger people who can attest to their age being problematic when it comes to business.</p>
<p>Studies have shown that young people feel they are discriminated against in various ways. And at times, as a young entrepreneur, you may feel the odds are stacked against you when you’re doing business with older people in your industry.</p>
<p>So how can you overcome age bias as a young entrepreneur? Here are four ways to let your youth and capabilities shine.</p>
<p><strong>1. Finance your startup</strong></p>
<p>Young entrepreneurs often find it difficult to get startup capital in the first place, partly because of traditional financial institutions’ perceptions and partly because of a lack of credit history.</p>
<p>But don’t let this deter you. Think outside of the box for funding. Do you have friends or family willing to fund you? Can you go outside your immediate family circle with your business plan?</p>
<p>You may wonder why they would agree to invest in you but keep in mind opportunity is usually found in the unlikeliest of places. For example, the founder of Atlantic Records, the American record label best known for its rhythm and blues, rock and roll, and jazz recordings, landed a loan from his family dentist.</p>
<p>You may have to be willing to go to several private investors or “angel investors” as they could be more comfortable with a smaller investment because of your lack of experience. But don’t give up – there are plenty of options.</p>
<p><strong>2. Dress the part.</strong></p>
<p>Now I’m not saying you have to wear a suit and tie every day, particularly if your startup is within a creative industry. But you still need to look professional when you’re doing business with business partners, suppliers and customers.</p>
<p>You may already have obstacles to overcome given your age, so there is no point in building your own barriers by presenting an unprofessional image. Look at how the people in your industry you admire dress and emulate them.</p>
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