Great advice for the 25-year-old running a business for the first time

Mylen Fe Yamamoto
Jul 20, 2017 · 6 min read

If you’re reading this and you’re 30+, then please give ME the advice. Haha, but if you’re in your 20s, keep reading.

This is stuff I wish I knew back then.

I realize there’s a lot of advice blogs out there. This one is specifically for the mid 20-year-old that aspires to be running their own profiting businesses by the age of 30.

I’m 29. Turning 30 in October. I feel 25 at heart but the fact that I can’t eat 4 slices of pizza like it’s no big deal is a constant reminder that my body is older than what it thinks it is. Fact of life.

I got to fulfill my lifelong dream of becoming a teacher by first becoming a graduate teaching assistant by age 22. A university lecturer by age 25. And then finally a full-time clinical professor teaching entrepreneurship by age 27.

By age 28, I left it all to DO entrepreneurship full-time and even found myself pitching to Mark Cuban and friends on Shark Tank. Today I run a chopsticks business called Cropsticks and a talent management firm.

Looking back to my mid 20s, here’s the advice I SO wish I knew.

And if I knew, I’d probably be a millionaire right now:

1. Dump him.

Yes yes, I should be more specific here.

Dump him if he belittles you. Or doesn’t want to co-elevate. OR if YOU don’t co-elevate with him.

Co-elevation is when both parties build each other up for success. And success can mean, oh he’s had a long work day so I’ll cook dinner for us tonight. And you also know that your partner is willing to do that for you too.

Dump if you are solely relying on him for happiness. That’s the fair thing to do. You need to figure out how to make yourself happy on your own first. It’s not going to get better until you do this first.

2. Save money.

Stocks are up…for now. But what happens if the economy crashes again? Learn to save money within your means. Learn what an emergency fund is. Check to see if your employer offers a 401k and maximize it. Don’t have one? Start a Roth IRA.

During your mid twenties, don’t spend your money on stupid unnecessary stuff. Let me give you an example. I bought a really nice, soft expensive bed when I was 23 thinking that it was important for my beauty sleep. Keep in mind I had roommates and we were renting so it wasn’t certain where my long term foothold would be. Less than a year later, I got a job in Japan. I tried to sell the bed on Craigslist and had no takers so I gave it away to a friend for free. Goodbye investment.

I could have gotten a cheaper bed paired with a decent foam mattress for much less.

Save your money..it’ll feel really good later on.

3. Invest wisely in social capital.

Social capital is “the networks of relationships among people who live and work in a particular society, enabling that society to function effectively”.

As a young professional, building your network and group of friends plays a very defining role for your current and future life. Especially at this age, it’s important to be giving. Give time, resources, your listening skills, invitations, etc.

The more giving you are, the more thriving your community will become. It’s a natural process.

But because building social capital, your friendships, your network, community, partnerships or whatever you call it can be demanding of your time and resources, be wise about who you’re sharing it with.

4. Invest in the stock market. Even if it’s just 1 share, that’s ok.

It’s ok because then you have an entry point into dinner conversations that are discussing the stock market. The price of 1 share is the price of stock education…for as little as $10.

I didn’t have stocks in my mid twenties. So I was left out of a lot of conversations surrounding the stock market. I didn’t know what they were talking about. It went over my head.

Now that I have a small portfolio, I’ve connected with my colleagues, CEOs of Fortune 500 companies, investors, my husband, and my Lyft driver about the stock market. It’s fascinating to hear different perspectives and stories of triumph and tribulation.

With platforms like Robin Hood that offer free stock trading and Charles Schwab who recently lowered their trade fees, it’s easier than ever for you to get in the game. Plus you really can make decent money if you’re willing to play the game.

5. Surround yourself with people smarter than you.

6. Understand why you’re seeking the experience.

I’m all about travel and experiencing delicious food with great company. It’s the very millennial thing to do..and yes, we get made fun of for it.

But whatever age you are, there are three types of experience seekers: 1. Experience for pleasure 2. Experience for perspective and 3. Experience to progress.

Let me explain.

  1. Experience for pleasure. That’s seeking instant gratification. It feels great in the moment. For example, taking a spontaneous trip with friends to Vegas because it’s only $39 a night. A delicious glass of wine by yourself. Netflix binge. Sometimes we need these types of experiences to refresh. That’s ok. But it’s important to recognize its short term effects.
  2. Experience for perspective. This one is a little confusing to explain as it can get mixed up with experience to progress. If a person is seeking experience to expand ones worldview, that is experience for perspective. For example traveling to a new country, taking up a hobby, reading The Wall Street Journal, discussing politics or a breakup over dinner is all for perspective. These experiences can enhance your mental and physical well being. It strengthens relationships. It’s important for life. But just because you’re experiencing for perspective DOES NOT always mean you are progressing.
  3. Experience for progress. This one is my favorite. Simply put, the experience adds to a “level up” in your life. Again, I need to remind folks that this advice post is for folks looking to build businesses so I define “level up” as a career move. Experience progress by organizing a community event or treat someone to lunch in exchange for an informational meeting or go to Vegas to pitch a potential client or go on a date to a financial literacy workshop. Every one of these activities enhance your life in a step towards career progression or financial freedom. It doesn’t have to feel so cookie-cutter either…especially when you can combine all different types of experiences into one.

When you can combine all three, life can be amazing! For example, you are required to go on a business trip to London last minute. The fares are really good so you invite your friends and husband (experience for pleasure). You get business done and close a significantly large deal. You celebrate with friends in London and sightsee on the hop on hop off bus (experience for perspective). It’s a lot of fun. You decide to stay a little longer to set up meetings based around your side hustle projects. 2 weeks later back in the US, you close more deals for your side hustle thanks to the meetings in London (experience for progress). It was all done in one amazing experiential trip. True story…it was the best trip ever.

Understand the experience you’re seeking and where it can lead you. If you can maximize the experience with pleasure, perspective and progress, you win.

7. Always have a side hustle.

That’s all I’m going to say. It’s so important. I think I’ll dedicate an entire blog to just this.

8. Say thank you. Show appreciation. Mean it.

Say it to your mom, your friends, your co worker, your boss, your associates, the person who held the door for you at Starbucks (obviously). In your mid twenties, know it’s ok to seek help. I’ve learned that as human beings, we will always need help in some shape or form. So be humble and thankful. That feeling will carry you through life.

If you like what you read, please leave a ❤. As my first ever Medium post, it would mean the world. Also leave a comment if you have more advice for those in their mid 20s. Pass on that wisdom and knowledge!

Thanks for reading. More on the blog at www.mylennial.com, a place for nice entrepreneurs to be nice to one another.

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Mylen Fe Yamamoto

Written by

A nice entrepreneur. Creator of Cropsticks who also runs a talent management firm. But mostly, a teacher at heart.

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