How to be a young entrepreneur: the honest truth, from Shatterbox

By: Russ | Published: August 16, 2010 | Filed under: About small businesses, Shiner blogs, Small Business Advice

Sunshine Suites’ Shiners shatterbox make it their mission to motivate youth to action. With their forums, videos and events, Shatterbox brings a passion for Do It Yourself ethos to young people that’s wildly contagious. As such, we approached them for hints and tips for kids and teens who might see the work of, say, Gary Vaynerchuk, or our own managing partners Cheni Yerushalmi and Joseph Raby, and wonder how they, too, can become self-made successes. In their own trademark voice, shatterbox presents, exclusively for Sunshine NY blog readers, their tips for young entrepreneurs.

So you want to be an entrepreneur? Be your own boss. Create your own path. Work your own hours. Sounds sexy and exciting, and indeed it is. But it’s not without a lot of elbow grease and tough love. At shatterbox, we believe that everyone can and should do what they love. So we decided to go out there and meet those people – motivated young professionals who are making their mark across all industries. We compiled some useful advice from New York’s best and brightest entrepreneurs.

1. Become an ‘Everything’ Expert – Maia Josebachvilli, CEO of Urban Escapes

“I call entrepreneurism just a crash course in every single industry possible. When I started I became an insurance expert, a legal expert, a search engine optimization expert, a web design expert, a hiking expert. It’s just you so you literally have to take everything into your own hands….”

As the head honcho of your company, it’s crucial to understand all aspects of your business, from finances to building websites to marketing schemes. No matter how mundane, knowing how each facet of your idea operates shows that you can walk the walk and is the best way to find out the most important needs and costs moving ahead. Outsourcing and delegating work is often helpful, but you’ll have to know who’s right for the job and what’s right for your mission.

That leads us to…

2. Build Your Community – Mike Karnjanaprakorn, co-founder of All Day Buffet

“You are the average of the five people you spend the most time with. So I’m always seeking out really smart, positive and brilliant people to surround myself with.”

Your tribe of friends, peers and mentors are your most important source of support when developing your idea. And with a virtual networking playground at your fingertips it’s easier than ever to build relationships with like-minded go-getters. Find them on Twitter, industry-related blogs and comment boards. Contact them. Take them out for coffee. Pick their brain. Even if it’s the CEO of your favorite start-up, just ask. Motivated and intelligent people love telling their story and sharing advice. Trust us, game changing relationships will be more precious than the $4.50 for their latte.

3. First, Get Your Feet Wet – Emily Doubilet, founder of Sustainable Party

“I wanted to be an entrepreneur since college, so I knew that I was going to jump into it. It was great to work with an entrepreneurial and established business right out of college. I worked really closely with the CEO and founders, so I could really have a top level view of an already established, functioning company. And they were really my mentors, so I think it’s important to have that experience of looking at how a business does operate…I think that’s really important, to either have a job, mentors or internships. You have to see how other people are doing it.”

Before Emily Doubilet teamed up with Jessica Holsey to create Sustainable Party, she worked for an eco-friendly countertop company and learned the ins and outs of a successful business. She then built her eco-conscious party supply company with the knowledge and network built at a company she respected. Oftentimes, entrepreneurs tell us that their corporate experience before starting a business was an important step towards taking the plunge. So don’t turn your nose up at a 9-5, it could be the launch pad into a killer venture down the line.

4. Be Honest and Transparent – Marie Forleo, founder of Rich, Happy and Hot

“I think that now more than ever, people respond to honesty and transparency. Part of what I didn’t like about the corporate world, we talked about having to get dressed up everyday or looking a particular way. I know for me, I curse a lot. I have a terrible mouth, I’m from New Jersey and it just happens…My clients tell me they trust me because they know I’m the real deal. I’m not trying to keep it all buttoned up and pretend that I’m perfect…I know if I’m looking to hire someone in any kind of capacity, you can just feel whether or not someone’s real. You can feel whether or not they’re putting on the sham-wow, trying to sell you. Just say, ‘Hey, I have this expertise, I’d love to help you, let’s see what we can do.”

Know yourself and your strengths and challenges. Use them to your advantage. People who respond well to your real self are the ones you want to work with- just like in dating! Know when to ask questions and be a novice and also when to flex your muscles. And always keep it honest, because it’s easy for clients, investors and even your mother to figure out your bottom line (and your whereabouts) with the click of a mouse. Gone are the days of wanting to keep everything close to cuff with home phones and those floppy disks we use as drink coasters. Don’t have anything to hide.

5. “Don’t Hope” – Ben Lerer, co-founder of Thrillist

What? Might be your reaction, it was certainly ours. However, the enthusiastic CEO for the top city guide for guys makes an excellent point.

“Don’t wait for someone else to do the work for you or hope that you can do something half-ass and that it becomes an overnight sensation. We slogged through the mud for a long time. We still slog through the mud, that’s how this stuff works. You make your own luck. If you want to get to here you have to understand that there’s sort of a process of getting there and you have to be willing to put the work in.”

Lerer and his partner, Adam Rich, didn’t wait around to watch their idea pass them by. They took the initiative and started small. From neighborhood to neighborhood, they wrote restaurant reviews and e-mailed them to their network of friends. The restaurants they wrote about saw a boost in revenue and they soon realized there was indeed a market for their idea, so Thrillist.com was born. (Stay tuned for Ben’s shatterbox story!) Don’t ever think the title of CEO instantly means cushy office and eager receptionist. You may be bruised and battered from day one but eventually, like a proud parent, you’ll watch your company grow and succeed if you put in every ounce of work and passion possible.

We’re barely scratching the surface, but it’s a good start to get you motivated in the right direction. Everyone has the potential to find career-fulfillment and we want to help you get there. Give us a shout, anytime.

Yours truly,

The shatterbox team