No College, No Problem: 7 Business Lessons for Young Entrepreneurs

1. Don’t be afraid to go your own way (and my advice to parents)

I did online high school while building CMG Landscaping and never went to college. More so than ever, young people are seeing opportunities for pursuing stable, rewarding careers in services and trades. But I know many Gen Z who feel pressured to pursue traditional education or college.

This pressure is not personal. It’s a part of our culture.

2. Hiring friends and family might work, but not in the long term

The biggest hurdle in a small, growing business is your team. When I was 17 and I needed employees, I hired friends—they were my network, and they wanted to work with me. But when you’re a young entrepreneur, you’re not the best person to find and hire hardworking and reliable employees. Eventually, my friends would stop showing up for jobs or slowly lose interest. I’m not saying you should never hire your friends or family, but recognize that it won’t always work out in the long run. 

Instead, hire friends and family for seasonal or temporary work. This way, you can employ them, work together on seasonal jobs, and they can go on to work elsewhere when they want to move on. As I grew the business, this support from family and friends helped me get bigger and bigger jobs until I could afford to hire experienced landscapers later on.

LISTEN: How to overcome hiring challenges

3. Experienced people are the best teachers (and coworkers) 

In the early years of building my business, I learned the most when I started landscaping for another company on slow days. I was paired with Wes, an experienced landscaper, and from him I quickly learned about spring cleanup, mulching, drainage, and tree work. He also taught me things you couldn’t learn on YouTube—years later, I find myself completing tasks just as he taught me to do them back then.

As I expanded our services at CMG Landscaping, Wes went to work for a large company for a few years. Eventually, he reached out to me to share his frustrations with his current job, so we struck up a deal to work together again on the weekends with his compact tractor. That winter was our best yet. We made over $65,000—just me, Wes, and a tractor. 

After that amazing season, I asked him to join the team. He was obviously hesitant, especially because I was only 19 and he would be our first employee. But after several midnight conversations—and figuring out how to set up things like worker’s compensation and benefits—he became our first project manager.

All the success that’s come since then wouldn’t have been possible had I not been open to working with experienced people and learning from them. It also took a lot of trust from Wes, who saw the potential of CMG and leaned into the unknown. You can learn a lot from YouTube, but nothing compares to learning from experienced people like Wes.

4. Understand your overhead and budget accordingly

I started my business with a few thousand dollars from mowing jobs and selling a dirt bike. I used that money to rent equipment—leasing saved me the hassle of ongoing maintenance and saved me money during the off-season. It was more cost-effective at the time.

Now, when I’m buying a truck or a piece of equipment, I’m thinking about my yearly overhead and our project deposit account. Most folks who run project-based businesses get their springtime deposits and then go wild with spending. Then, when thousands of dollars in materials are charged to their business credit card, they regret how they’ve been spending. Don’t do this.  

Instead, collect your deposits and put them directly into a project deposit account. Don’t spend that money until that job is completed. Once the job is completed and all materials are paid for, you can go and buy that truck, equipment, or offer payroll bonuses. 

In your small business, you need to understand your budget. In the beginning, it’s a struggle, and you’ll go through a learning curve. But once you understand your yearly and daily overhead, you can make wise decisions on your savings, investments, and profits. They all have a place in your budget.

READ MORE: The best budget-friendly service businesses to start

5. Don’t go viral, market to your audience where they are

Don’t underestimate the power of traditional marketing and word-of-mouth. I’ve built my business on flyers, EDDM (every door direct mail), and yard signs. Folks come up to me all the time and say, “We saw your sign in our neighborhood.” Those leads often become actual sales, whereas online paid ads haven’t worked. Direct marketing does. 

Now, those tactics don’t work for every small business. Finding leads is challenging, but so is going viral or paying for Google or Instagram ads. Do your research and know your audience. Marketing works, but what works for some businesses might not work for yours. Try things, experiment, and be creative. Often, simplicity is best, but you should always try for yourself. 

6. “Your network is your net worth” 

Don’t underestimate the power of networking. I joined a business networking group at 18 and met forty local business owners—some of whom I have lasting relationships with to this day. I’ve also created an online presence for myself and CMG Landscaping. But all that doesn’t stop me from showing up to local events or striking up conversations with people at coffee shops. 

Casual conversations will lead to referrals for your work. Or connections with other small businesses will lead to the new hire you’ve been looking for. I also encourage you to find trusted mentors for advice on important business decisions. Your network is the most valuable thing you have as a young entrepreneur.

7. Start building generational wealth right now

If you want to build a business you could sell one day, you need to become good at money management and investing in the future. I own a multi-million dollar landscaping business, and I’m building wealth by investing in real estate. These are pretty secure assets that help with taxes and cash flow in the short term, and usually hold or increase in value in the long-term. 

I’m also frugal, and I live below my means. I put 85% of my net income back into our business savings, or into real estate, retirement, or stocks. So, whether I reinvest in my business or eventually sell, I’ll have more financial options in the future. That’s how I’m creating generational wealth. 

Whether you decide to reinvest in your business or something else, being frugal is always a good approach. Get a business financial advisor. Get into a community with other business owners. And plan for the future you want. 

LISTEN: Learn how to build generational wealth