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5 tips for twenty-year-olds

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At 20, the world seems full of extraordinary opportunities to realize our dreams. We acquire skills, make friends, look for a job we love, and strive to succeed. But wouldn’t you like to know a little more about this world – so that you don’t waste time and realize all your plans?

Tip #1: see problems as opportunities

Today, many twenty-year-olds want to work for themselves. But where to find an idea for starting your own business? You need to develop entrepreneurial thinking and learn to see the relationship between problems and opportunities.

For example, Stanford conducted such an experiment. Teams of students received a task: to come up with a business idea and earn as much as possible in 2 hours with a starting capital of $ 5. Most people focused on how best to use this money. However, this amount is almost nothing, so it was better to apply observation and identify problems that can be quickly solved without any money at all. 

One of the teams succeeded. The students identified a problem typical of many campuses – hopelessly long lines at restaurants on Saturday nights; they split into pairs and book tables at several restaurants. When the time for reservations approached, they sold them – up to $20 per reservation. Customers were happy to avoid the exhausting wait, and they didn’t even need any start-up capital 🙂

Useful insight 

Anywhere and anytime you can come across problems that need to be solved – just look around. An entrepreneurial person is one who will not avoid any problem that can be turned into an opportunity and will find creative ways to effectively use limited resources to achieve the goal. 

Tip #2: Break the rules

We are constantly faced with other people’s instructions: do not enter this specialty – it is not profitable; do not reinvent the wheel – there is already a proven way; this idea will not work – trust me. And most often we do listen to people who have more experience. But sometimes experience causes what is called “problem blindness” – when the status quo becomes so entrenched that people stop noticing the obvious flaws in a situation and ignore possible improvements. 

For example, did you know that the idea to create ATMs initially failed in focus groups? Potential users were offered to withdraw money using a machine, not through a bank teller, but they could not even imagine such dramatic changes and rejected the idea. But now it is hard to imagine modern life without ATMs.

Another example is a casino, many people think that it all is on the black market and illegal, but it’s not true, and 400 bonus online casino is an alive example of that.

Useful insight

The traditional way is only one of the possible ways. You can always follow the recipe, take the main road and follow the footsteps of those who go before you. But if you want to challenge traditional ideas and can free yourself from your own and other people’s expectations, endless new opportunities will open up for you. 

Tip #3: take it and do it

Has it ever happened that you have a brilliant idea, and someone (or even your own brain) immediately “breaks” you? Like, it is not up to you, you lack expertise, not enough connections, or something. Does it sound familiar? 

In fact, the world is divided into people who allow themselves to do what they want and those who wait for others to give them permission. Find motivation in yourself, do not wait for a push from the outside. Expertise will come with practice.

Useful insight

Many studies prove that people who are willing to push the boundaries of their skills and are not afraid to take risks are much more likely to succeed than those who are convinced that they have a stable set of skills and innate abilities, which ultimately only limit these people. 

Tip #4: don’t be afraid to fail

We often refuse to try something new because we are afraid to fail and be judged by other people. In our society, it is customary to keep silent about your failures, so everyone wants to seem successful and avoid mistakes at all costs.

Failures are a sign that you tried to solve the problem and they enriched your skills. Many successful people are also convinced that if you do not fail, you are not doing enough and not taking enough risks.

First of all, we need to change our attitude towards failures, as they are part of our experience and growth – especially when we push our limits, do something for the first time or take risks.

If something is going wrong in your life you can easily find a way to relax. For example one of the ways is 2 deposit casino uk sounds of gambling machine is relaxing and calming.

Tip #5: quit unsuccessful projects

Many people are hesitant to quit a job that hasn’t been satisfying for a long time or to abandon an idea that doesn’t bring results. The syndrome “I have done too much to give up like this” kicks in. We make excuses for the time, effort, and even suffering devoted to a certain cause, and we convince ourselves and others that there is something worthwhile and important in it, otherwise, we would not have come this far. 

But you should not become a prison guard, chaining yourself to a place where something goes wrong. If you leave, it will 100% open up new opportunities for you. And let this be a reminder to you that you are in control and you can leave whenever you see fit. 

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Emma Drew

Emma has spent over 15 years sharing her expertise in making and saving money, inspiring thousands to take control of their finances. After paying off £15,000 in credit card debt, she turned her side hustles into a full-time career in 2015. Her award-winning blog, recognized as the UK's best money-making blog for three years, has made her a trusted voice, with features on BBC TV, BBC radio, and more.

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