5 Reasons Why Being A Young Entrepreneur Sucks

From : http://www.stanleytang.com/2009/01/18/5-reasons-why-being-a-young-entrepreneur-sucks/

This is the follow up post to why being a young entrepreneur rocks. This time, I’ll go over 5 reasons why being a young entrepreneur sucks:

1. You are faced with legal issues & age restrictions. You can’t get a bank account, you can’t get a Paypal account, you need to pay tax etc - many of those issues teenagers haven’t faced in their lives. You must ask your parents for permission for so many of those things which can become an obstacle.
2. You can’t network with other entrepreneurs. It’s difficult flying half way across the world by yourself and attend events with a bunch of adults. Most of the networking usually happen at a bar and you must be over 21 (in United States) to enter.
3. You have less credibility. Your customers, prospects and partners will not pay you with the same amount of respect simply because you are a teenager. You come across as less trust worthy and can potentially loose a lot of business as a result.
4. You sacrifice your social life. Honestly, teenagers should do what teenagers do - play. By running your own business, you are sacrificing your life as a teenager and missing out on a lot of the stuff. You have to balance your life with your business (which is why I’ve been doing so little with my business recently. The only thing I’m doing nowadays is blogging and twittering; I’ve pretty much stopped working on affiliate marketing, list building, information marketing, joint ventures etc side of things so that I can actually focus on school and enjoy life)
5. You have less experience. Not only in business but also in life. You are more likely to make mistakes and poor decisions. You are less mature in the way you do things and may get involved in immature arguments. The lack of experience can potentially lead to the entire downfall of your business (which is why you need to get a mentor. Don’t think you know everything cause you dont’)