Learning From Young Employees
I mentor a couple of young entrepreneurs and sometimes I think I get more out of the time we spend together than they do. There’s no need to worry because their start-up is in another industry. But if it wasn’t, you’d have a formidable competitor to contend with.
Like the CE and appliance industries, they’re entering a highly competitive field. They’re the new kids on the block in a market that’s known for high failure rates. They’re undercapitalized, are having a difficult time finding an affordable location, and haven’t turned a profit or earned paychecks since they started eighteen months ago.
What they lack in experience and monetary resources they make up for in ambition, moxie and enthusiasm. Most importantly, they have a real passion for what they’re trying to do.
Unable to find a site, these young guns are selling their wares—in this case food—from a truck. They’ve invested every penny they could raise, mainly from friends and family, so they could create a first-class, organic, delicious eating experience for their customers. They may be selling food on a stick at fairs, parks and concerts, but their zeal keeps them focused.