What I’ve Learned About Building a Successful Company by 24 Years Old

Building a company is never easy no matter how old (or young) you are. I started building my company when I was a 15 year old student and I found the learning curve to be steeper than anything I’d imagined. But there are some lessons every entrepreneur can learn from building a company from a young age. These are the lessons that I learned from building a company by the time I was 24.

Setting Goals Must Happen in the Right Way

You likely already know about the importance of setting goals. But there’s a right way and a wrong way to set goals. Your goals must be specific and every part of those goals should be defined in a quantified way. You must be as specific as possible.

For example, you need a concrete deadline. And when you have those parameters set you absolutely must stick to them. Never start lowering your targets or changing the goal just because you’re afraid of not reaching the original goal.

Adopt the Right Habits for Success

I believe that habits are key to your long-term success. Those who practice good habits daily are much more likely to succeed because they’re making small but regular steps towards their goals. Their habits are also ensuring that they’re being consistent and not simply making big jumps every so often.

I’ve adopted a few habits that I believe were key to me sticking to my guns and building my company. Some of them included taking care of my health, waking up early, reading regularly, and avoiding negativity. There were many more, of course, but I believe that habits are not just work-related they’re a whole lifestyle.

Consistency Will Always Win the Day

Students are not known for their consistency. This is something that many younger entrepreneurs struggle with at first. Success is not built on the big triumphs. It’s the little victories won every single day. A week of regularity builds momentum, and when you have that momentum things just happen. When you break that momentum, it kills everything that came before.

I truly believe that persistence is what sets the good entrepreneurs apart from the great entrepreneurs.

Reflection Reveals Key Truths

It’s easy for entrepreneurs to get carried away with everything. The reality is that a busy schedule can take over and consume you. It leaves no time for self-reflection. You need to set aside some time every single day to reflect on events in the past, in the present, and in the future. It’s the only way you’re going to achieve what you want to achieve.

Without taking stock, you’re never going to get that wide view you need to make good decisions. One thing I found valuable was to visualize myself achieving those goals. Thinking about what you want to do and how you want to do it can be extremely powerful.

Conclusion — The Lessons of Failure

These four lessons were all learned through failures and obstacles along the way. Failure can be one of the most positive things in your life. What do you think is the biggest lesson you can learn about entrepreneurship?