Aspiring entrepreneurs receive advice from successful start-up founders: 'Be true to your uniqueness'

Aspiring entrepreneurs receive advice from successful start-up founders: 'Be true to your uniqueness'
Aspiring entrepreneurs receive advice from successful start-up founders: 'Be true to your uniqueness'
  • According to a CNBC-SurveyMonkey poll, young adults are more likely than older cohorts to consider owning their own business as crucial to their financial security.
  • Business leaders from Denver shared their experiences of founding a company with students, in collaboration between CNBC and Junior Achievement.
  • Entrepreneurs who achieve success work through obstacles, rapidly learn from setbacks, and associate with individuals who encourage them.
Gen Z's key to financial security

High school students can discover their career paths and create a plan to achieve their goals at the Junior Achievement Free Enterprise Center in Greenwood Village, Colorado, which aims to motivate the next generation of entrepreneurs.

Entrepreneurship is a common goal for younger people.

A recent survey by CNBC and SurveyMonkey found that over 50% of Gen Z adults believe they would be happier running their own business than working a typical job, with 770 Gen Z respondents aged 27 and younger included in the poll of 5,993 U.S. adults in the workforce conducted in early April.

"According to Robin Wise, president and CEO of Junior Achievement Rocky Mountain, discovering your purpose involves observing others' actions and understanding your own desires."

CNBC, in collaboration with Junior Achievement, hosted a gathering of business leaders in Denver to discuss their experiences in establishing a company. These leaders imparted five crucial pieces of advice to the students present.

'Embrace what makes you different'

In 2015, Darian Simon founded the clothing company Be a Good Person with the goal of promoting positivity. He encourages young people to celebrate their individuality by embracing their uniqueness.

At 28, Simon was diagnosed with autism and ADHD. Now 30, he views the "disorder" part of the diagnosis as his superpower and rejects it.

"My greatest strengths are my neurodivergence because I have less inhibitive space in my brain, which allows me to ideate better," he said. "As a result, the box doesn't exist in the same ways."

Value adaptability

In 2013, Under Armour acquired Robin Thurston's digital fitness technology start-up for $150 million. Currently, Thurston is the founder of Outside Interactive, a network of media brands focused on endurance sports, the outdoors, and healthy living.

Starting a business is like going on a difficult hike, and it's important to remember that things won't always go as planned. You'll need to embrace the unknown and work through inevitable difficulties, as advised.

"Great entrepreneurs are resilient and work through challenges, Thurston stated."

Recognize challenges 'as opportunities'

In 2020, Camila Uzcategui established Vitro3D, a company that employs 3D printing-like technology in advanced manufacturing settings. Her background in physics and passion for experimenting with technology have taught her the significance of failure.

Uzcategui stated that he views all challenges as opportunities to either change direction or gain a better understanding.

Expect excellence from your team

During the Great Recession in 2009, Mowa Haile founded Sky Blue Builders, a construction company. He emphasized the importance of surrounding oneself with people who share one's passion and always expect excellence from them.

As an entrepreneur with a team, your role is to coach, lead, and encourage them, he stated.

Surround yourself with the right people

In 2000, Lara Merriken established Larabar, a business that produces vegan, gluten-free, and plant-based bars, following a career in social work.

"She remembered how many people were naysayers, saying things like "why would you do this? Why would you get into an oversaturated category?""

Identifying and working with trusted confidants who were supportive and encouraging were critical to the company's success, as she sold Larabar to General Mills in 2008 for about $55 million.

"Inspiration is necessary every day even for successful entrepreneurs, as Merriken pointed out," said another recipe for success.

Financial freedom can be achieved through Money 101, an 8-week online course that is delivered weekly to your email inbox.

by Sharon Epperson

Investing