[ The Money Side of Lifeā„¢ ]

Thoughts from a Young Entrepreneur

By Brett Klasko on November 1st, 2003 •

Brett Klasko is founder and creator of Investor's Alley Corporation. He is another young entrepreneur and has been featured in USA Today, The New York Post, Dow Jones Newswires, and CNN's Talk Back Live. Although still in his early twenties, Brett shared some of his thoughts on being an entrepreneur. For fun, compare his comments to Steven Sperry's Tips to Being a Successful Entrepreneur on page 28.

  • When you start young, the only way to do it is to learn as you go.
  • Find others who can help you grow. In my case, my father was a big help.
  • People are generally willing to help, but you have to ask questions. I was constantly on the phone talking to other business professionals.
  • Startups never have enough money--learn to do it yourself.
  • Being a good negotiator is essential.
  • Pay attention and learn to manage your money. More money going out than what's coming in doesn't work.
  • Make sure you have a plan--long or short doesn't matter--it just needs to be well thought out.
  • Learn how to manage your time. It is really surprising how much time we waste every day.
  • The lessons you learn early will make future endeavors much easier.
  • Success is not always measured by the bottom line.