The world needs new young entrepreneurs. These create jobs, improve the quality of life, have new technology to society and keep the competition alive in the market. Starting a business is difficult and it is crucial that the next generation has the greatest possible quantity of ammunition.

All we trust you for you to continue with the tradition of innovation. As CEO of a successful startup, with decades of experience launching major companies, I know what it takes to achieve it. If I could turn back time and give me some advice to my 20 years about starting a business, start with these seven tips:

1. Passion: You fail. It’s part of the game. Your failures will lead to success if you get involved with something you create. Starting a business without any particular reason you will saturate and take you to where you started. Choose an interest with which you can be passionate. Unite charity with a traditional business model may be a good way to combine the things you and your potential customers care more.

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2. Define your market: You have heard this before. It is one of the most common mistakes entrepreneurs make. Opting for something that makes sense for your business. If you are a small startup and you keep studying, you can stay in one place or focus on students. The internet gives us an infinite range, but it is vital to reduce your market to a realistic number and to keep those who have a reason to be interested.

3. The price point: Taking risks is important in any business. Consider offering your product or service at a basic level. A small investment from the start can hook new customers / donations before risking more money. Your defines the ideal price target. Survey your market and make adjustments. You can always reevaluate your prices as you grow.

4. be honest: This advice is applicable to you, your employees and your customers. Be honest about what you can commit to your business. It does not do anybody any good to exaggerate the truth if you do not have the money or the ideal compromise for the project. Be honest about who your partners can expect from you and what you expect you back.

5. Use, but not excessively, your social networks. Young people are always eager to make the jump to social networks, that’s not bad but it is important to think carefully before putting your information on various platforms. Social networks are powerful tools. Focus them in your business can let you know quickly and economically. That said, be careful not to put all eggs in the online basket. Experiment and measure results, then evaluated constantly and decides what is working and what you waste resources.

6. Do not forget the public relations. The relations of traditional and online media can give greater coverage to last a lifetime and not cost as much as advertising. Think about what makes your new product interesting and relevant. Then he talks about it in the net. Maybe you obtain good feedback or show up in news segments. Many newspapers have sections dedicated people doing new things. Until an article in your college can be a source of advertising.

7. Search mentors. The principle of adventure can be exciting, frustrating, liberating and terrifying at the same time. Remember, though younger generations know more about technology than those who have spent years in business, there are some basic principles that are achieved through the experience. Many communities offer opportunities for networking for old and young entrepreneurs. Take advantage of this and maybe surprised by the amount of knowledge that your colleagues have to offer.

These tips will not get success, but a lot of knowledge you can gather before starting your entrepreneurial career to avoid serious mistakes.

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The world needs new young entrepreneurs. These create jobs, improve the quality of life, have new technology to society and keep the competition alive in the market. Starting a business is difficult and it is crucial that the next generation has the greatest possible quantity of ammunition. All we trust...