Entrepreneurship: From Side Hustle
to Mainstream Income

If you’re unwilling to work at a “typical” job but desire to be financially independent, entrepreneurship might be right for you. At its core, according to HCU, an entrepreneur is responsible for “creating, developing, and managing a new business venture to make a profit. It involves identifying a need or opportunity in the market, developing a product or service to address that need, and building a sustainable business around it.” Although this may sound easy, it is not just a company that needs to be regulated but a full-time hustle.

 

Entrepreneurs always take risks and spend most of their hours working on their business. They are often driven by creativity and the desire for problem-solving–although that is not always the case. Usually, this career requires a tremendous amount of effort and hard work, an individual must be able to adapt to changes in the market, technology, and sponsorships rapidly to stay relevant in the eyes of the consumer. According to Kelsey Miller, a marketing specialist and contributing writer for Harvard Business School Online, here are some characteristics found in successful entrepreneurs:

 

1. Long-Term Focus: While many can start a business, sustaining the launch’s early stages depends on securing funds and investments.

2. Innovative Thinking: Many start selling a product entirely created by themselves, however, most startups have taken modern products and improved them. Some examples of reselling are drop shipping and selling at a thrift store. Many also work in real estate, Airbnb, and digitally through social media platforms like Pinterest, Depop, TikTok Shop, etc.

3. Persistence: It is crucial to become comfortable with failure, however, take this as an opportunity to grow and develop, not to retire.

4. Curiosity: This allows you to seek further opportunities that will contribute to the success of your business, developing a growth mindset is an important life skill that creates a positive impact.

 

Where Do I Even Start?

 

One aspect of entrepreneurship that drives many to initiate their business ventures is that there is no age limit or requirement for qualification. To start, you may want to consider the following:

 

1. Find a profitable business: Ask yourself, is this a trend or a growing product? Usually, trends can be lucrative, however they are not sustainable. Sell something that is reasonable in price and attracts customers. 

2. Develop a product: You have the option to craft products yourself or hire a manufacturer/vendor for assistance.

3. Validate your product: It’s time to market your product and learn about others’ thoughts towards your product.

4. Write your business plan: Try creating a portfolio, mission statement, or theme for your business.

5. Secure funding: It is crucial to reinvest profit back into the business, make sure you don’t start empty-handed.

6. Launch: Set up a website and organize marketing strategies for sales.

7. Manage the business: Continue to stabilize your business!

 

Can I learn about this in College?

 

As high school students considering entrepreneurship might wonder what major would be best in college, the answer is, that there is no limit but several options that prioritize different aspects of business. Here’s how to decide what category will be right for you:

 

Business Administration or Business Management: A classic choice for individuals interested in learning the basics of operating a business. You’ll learn about leadership, marketing, finance, operations, and strategic planning.

 

Marketing: If you want to delve deeper and understand how to market products and learn about consumer behavior, branding, digital marketing, social media, and public relations for advertisement.

 

Finance or Accounting: Every entrepreneur needs to learn how to manage finances, whether it’s personal or business accounting. This will teach you how to track stocks, and budgets and make resourceful decisions.

 

The best part about entrepreneurship is that you don’t need to specialize in a specific business major, in fact, there are many ways to pursue this passion. For example, if you’re an expert at making art, you could sell your crafts online through means of digital marketing. There are many small businesses, podcasts, and websites out there that might need assistance with cover images and design. For example, Neil Patel, an online marketing genius, started at the age of only 16 by working for small companies in need of promotional assistance. His expertise gradually developed, becoming a New York Times Bestselling Author, one of the top 10 marketers on Forbes, and the co-founder of CrazyEgg and KissMetrics!

 

Who could I look up to?

 

You probably have heard of the word resilience, right? A popular term in the dictionary for successful people. To conclude the critical information required to become a successful entrepreneur, let’s dive into a young, successful entrepreneur’s journey who struggled during his childhood and business philanthropy.

 

Iman Gadhzi, the owner of Grow Your Agency is someone who epitomizes determination–his net worth of $30 million including his digital marketing enterprise and education-based online ventures supports his efforts. Born as South Russian in 2000, family matters caused him to move to London at the age of five; his mom worked multiple jobs to sustain a costly living. Unfortunately, the situation only severed when his stepfather refused to financially support them. Despite these hardships, Gadhzi never gave up, starting with buying and selling on Instagram while also pursuing his love for fitness.

 

As time progressed, his breakthrough in business came when he secured his first agency client, gaining more clients and eventually dropping out of high school. He further prospered by mastering the art of Facebook ad services and understanding the works of delegation.

 

Gadhzi’s success story didn’t just stop there. He recognized his potential to share his experience with others and embarked on the journey to educate others in building their agencies. With the launch of his program, Six Figure SMMA, he facilitated a community of over 1,100 students seeking to navigate the complexities of the digital marketing world, transforming the education system by empowering young people with expertise.

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