They are popping up everywhere and they know something that their older more established counterparts have forgotten. Jess Mouneimne takes us through the biggest challenges and triumphs that startups are facing in 2016
We are agile, more resilient, make bolder decisions and we can adapt to technology and change. But this doesn’t mean that we know it all – I have huge respect for entrepreneurs who have paved the way for the millennial generation.
- Cash flow. This is always a tough balancing act, particularly if you organize events. If you are getting into this industry, remember that your cost of sales for booking venues can eat away at your cash flow. You have to have systems in place to deal with difficulties such as 60-day payment terms.
- Confidence. I did presentation and voice training through The Voice Clinic to increase my confidence. When you are sure of yourself you make people comfortable and the perceived negativity around your age is no longer an issue.
Advice to People Thinking of Getting Started?
- Find a mentor. An important PR mentor to me has been industry stalwart Marcus Brewster who was doing PR even before the Internet and cellphones became central to the industry. I can’t imagine running my business without this technology, yet he did it so successfully.
- 2. Consult a business coach. This is essential for every young business owner. My business coach Kathi Clarke is my sounding board in areas of my business where I lack experience.
- Be a leader, not a boss. I don’t believe in hierarchical leadership. I sit with my team and we get our hands dirty together. Leadership style and growth opportunities are what attract and keep good talent.