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Don't be afraid to pursue your business ideas, no matter your age

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Whether you are just out of college or have many years, jobs or careers behind you, it is never too early or too late to do what you love. Sure, there will be hurdles to jump, challenges to face and bridges to cross, but that is all part of it. As the famous author, Jack Canfield (best known for his Chicken Soup for the Soul books) once said, "Most everything you want is just outside your comfort zone".

The good news is that even though something is out of your comfort zone, it doesn't mean it is out of reach. Let's take a look at some young entrepreneurs who didn't let age or experience get in the way of their dreams.

The best of the best under age 30

Recently, Forbes magazine released its annual 30 under 30 article, which lists the brightest and the best young entrepreneurs under the age of 30 in 20 different industries. Some are celebrities, some are immigrants and some even began their entrepreneurial journeys in the confines of their tiny college dorm rooms.

For example, one featured entrepreneur, Rhonesha Byng, who is now 27, started Her Agenda, a digital media platform geared towards the millennial woman, from her dorm room at DePauw University. Another is immigrant Anurag Garg, age 29. He is the co-founder and CEO of Dattus, a company that transforms old manufacturing facilities into smarter factories.

Despite cramped quarters, a new country or even inexperience in the workforce, these entrepreneurs and many others pushed forward to realize their dreams. However, you don't have to be young to start a new business, just young at heart.

Famous entrepreneurs who became successful later in life

There are plenty of entrepreneurs and business owners who didn't even begin their journeys until later in life. For example:

  • Vera Wang did not become a fashion designer until she was in her 40s.
  • Henry Ford did not create the Model T until he was 44.
  • Taikichiro Mori didn't found his real estate investment company until the age of 51 (which later made him the richest man in the world in 1992.)

How do I begin?

Only you can decide what kind of business you want to create and when you are ready to start. Perhaps you have already begun your journey. If so, congratulations.

The road to launching a business is often an exhausting yet rewarding journey. There are so many questions you must find the answers to, such as:

  • Which type of legal entity will best meet my business and individual needs and goals?
  • How will the type of entity I form affect my individual and business tax obligations?
  • Who will draft and review the contracts and agreements I will need as a part of my business dealings with employees, customers and others?
  • What type of licenses, permits or registrations will I need in order to do business in California?
  • How will I protect my ideas, designs and unique products from copycats?

    Fortunately, there are professionals who can answer your questions. A skilled business lawyer can provide you with the guidance and advice you need to be successful. The law firm of Myers Berstein LLP can help.

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