5 Lessons I Learned From Starting a Company at 19 Years Old

I didn’t intend to create my own software company. I was almost forced into it. It’s funny to think that I was a YouTuber full-time a few years back. It was all going well until my channel was demonetized. This means I was losing $0 to the ads that were placed on my videos.

My channel was getting between 2 and 3 million views per month, but I didn’t get a single penny. To bounce back from that low, I put my entire life savings ($5,000), into starting a creator economy startup. I quit college to start my SaaS business full-time. I learned many valuable lessons along the journey. These are five of the most important lessons that I have learned thus far.

Similar: How to Start & Grow a Business: A Digital Guide For Young Entrepreneurs

1. Perfect is better than perfect

I had no experience in coding — let alone creating and growing a startup. Despite all these obstacles, I was 100% confident in my idea. My proof of concept was my foundation. I was prepared to do anything within my budget to make my SaaS dream a reality.

With persistence and a clear vision, I was able find a great developer abroad that fit my budget and believed in my vision of Trend Watchers.

We continue to work together today. Although the first version of Trend Watchers was horrible, it became more user-friendly over time. My journey was not one I would have chosen if I had been a software developer. There were so many setbacks. Although I should have given up at the beginning, my team and vision combined with the desire for success enabled us to persevere.

It doesn’t matter how difficult a task might seem, it is better to be done than perfect. Many times, perfection is achieved through the many mistakes made along the way.

2. Data collection is vital

Good data collection is something that I started early. What is data collection? Data collection has a poor reputation due to scammers and large corporations abusing it to make quick buck. There is a positive side to data collection. Data collection can be used for better marketing decisions. Data can also be used for determining what users like or don’t like.

There are many ways to collect data, but I found two very useful methods of collecting data: asking questions about our signup process and using a session recording program that records how long users spend on each page and what they click. These data-collecting techniques have allowed me to make the right decisions about software updates and help improve the user experience.

Similar: The Complete, 12-Step Business Start-up Guide

3. Before you start building, get a proof-of-concept.

For those in the back, I will repeat my mantra: Get a proof-of-concept before you start building. In the early 2022s, I thought it would make sense to create a Trend Watchers marketplace. Marketplaces are great, and when used right they can be a great growth engine for startups — but no one wanted that. They wanted to see trends that could be used online.

I decided to build it instead of listening. Not only did it cause a lot more problems, but it also cost me a lot of money and time. It was a learning experience that I use to conduct surveys before I add any new features.

4. Tell your story

It was already difficult enough to start a software business at the age of 19 with my own money. Next, I had to ask myself how I was going to market the thing with a $10 marketing budget.

As a child, I was a great storyteller. In my spare time after school, my books were always my own creations. I would go into our home office, grab a few sheets of paper from the printer, fold them in half, staple them together, and boom — I had a book.

I used my early skills to build a loyal following that would help me gain traction for Trend Watchers. Instagram and the leveraging press were my two main platforms to document my progress. This wasn’t an overnight success. To get my brand’s story across, it took lots of writing, documentation, pitching, and perseverance. It is now starting to pay off.

An interesting thing I found about my paying customers was that they stay longer when they feel their money is being invested. Many of my customers pay me via my Instagram or email to follow my story for weekly updates.

You should document your journey to growing your startup. Not only will you have a journal to keep track of your progress, but you’ll also be able find loyal customers.

5. Every opportunity is a gift.

The most important decisions I have ever made were those that were time-sensitive. Opportunities to travel, buy into programs and make my schedule flexible to attend events were some of these opportunities. These opportunities were almost 90% random and each time I took one it greatly helped me in my business growth.

Related: 6 Tips to Build a Scalable Software Company.

Most people are aware that starting and growing your business can be difficult, especially for someone just starting out. Although reading books and viewing YouTube videos can be extremely helpful and informative, experience is far more valuable. The skills and lessons I’ve acquired through my experience have helped me grow exponentially, and hopefully, these five lessons above can help other entrepreneurs — young or old — grow their businesses as well.