Insights For Young Entrepreneurs

The Public Lecture series is an excellent way for me to reconnect with my academic roots after taking a break from lecturing in 2021. Recently, I was invited as a guest speaker to the “Small Business Management & Entrepreneurship” course at Epoka University. During this session, I shared insights on the entrepreneurial ecosystem in Albania, opportunities for new initiatives as alternatives to the traditional 9-to-5 job, the importance of pitching skills, and more, drawing from my extensive experience in the field.

Entrepreneurship education has become increasingly crucial as job opportunities shrink due to technological advancements, population growth, and other factors. Entrepreneurship is a significant career option that directly contributes to economic growth and generates numerous job opportunities. Therefore, I emphasized the importance of motivating young minds to start and develop their own business ideas.

Epoka University has already incorporated entrepreneurship into its regular curriculum, which has piqued students’ interest in pursuing personal business ventures and seizing upcoming opportunities to become successful entrepreneurs. When the floor opened for questions, the discussion was as enlightening as the talk itself. Students were keen to hear about my experiences in the UK and Israel’s entrepreneurial ecosystems and learn more about international experiences and startup support donors in Albania.

While many questions focused on financial support, I emphasized the following key points for future young entrepreneurs:

• Build a Skilled Team: Understand the value of assembling a trained team that shares your passion for the startup’s objectives and mission. Having the same goals and avoiding delusional optimism is crucial. Surrounding yourself with a professional and ambitious team is a winning combination.
• Value Mentorship: Mentors play a vital role in helping young entrepreneurs develop essential soft skills such as leadership, communication, and emotional intelligence. These skills are crucial for personal growth and handling future entrepreneurial challenges.
• Develop a Solid Business Plan: Never underestimate the importance of a well-developed business plan. It provides a clear vision and helps you get your startup off the ground.
• It’s Not All About Money: Even if you lack the necessary funds, you can attract investment by honing your pitching skills and effectively selling your idea to investors.
• Build a Strong Network: Networking is valuable even when you don’t have a concrete business idea. Recognize the potential value others can add to your startup in the future. Classmates’ friendly relations can transform into professional working relationships. Make the most of networking opportunities in university, internships, and even casual coffee catch-ups.

I left the Academic Building feeling motivated and reaffirmed my commitment to making a significant impact by helping the next generation of entrepreneurs.