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3 Tips from a Twenty-Something Entrepreneur
MITCH MATTHERS: So, could we move our bikes out of the hallway, so when you guys are doing it, then we can just kind of take a break and whatever? That'd be great. It’s like we're with you guys! Power to people! Huh yeah. Nervous about that.
MITCH MATTHERS: I'm Mitch Matthews, and in 2006 one of my big dreams was on the ropes. I was ready to give up. I wanted to walk away. But instead my wife and I decided to host something we call the Big Dream Gathering. The idea was simple. Invite some friends to our house and have everyone write down some dreams and goals on sheets of paper — that we could put up on the walls.
MITCH MATTHERS: Then we went we looked at each other's dreams, to see if we can help give us through an idea, a suggestion or a connection. Now my dream team and I get to go all over the country hosting Big Dream Gatherings and meeting with people who have gone after dreams big and small. I'm gonna invite you to be a part of this. Think about it.
On screen: BIG DREAM MOVEMENT, Fueled by American Family Insurance
MITCH MATTHERS: what if you gave yourself permission to join us what if you gave yourself permission to dream big?
MITCH MATTHERS: So, we are in the beautiful Salt Lake City Utah today for our big dream gathering at the University of Utah tonight. We're gonna head over to campus in just a little bit. But before we go there we're gonna spend some time here at Rideologie. This is a big dream of a 24 year old entrepreneur she got hit with the idea back in college.
MITCH MATTHERS: And she's taken the steps to make this indoor cycling studio a reality. we're gonna talk with her about her dream journey and she's invited us to be a part of a spin class. I can tell you I'm excited to hear about her story and I'm nervous about taking my first spin class. Ever. So, let's get to it.
On screen: Ali B, Rideologie
ALI B: So I started getting a bug for it from The U, and after graduating in May, I moved to Southern California and I got inspired by some really successful studios that are there. And I just started to think, “I think my hometown would really like this.”
MITCH MATTHERS: So, you you went out, you got inspired by other people you met
with them —
ALI B: Yes.
MITCH MATTHERS: You learn from that
ALI B: But, relationships with them — they were generous enough to let me, kind of, into their life and to see how it goes a day to day and all that it takes. Also learning from people's mistakes is huge, so you shouldn't be afraid to ask for help or some guidance sometimes because that's ultimately what can get you there.
ALI B: Here's the part where we're clipping in into the bike. So, I'm gonna come around — jump — all right let's have this foot go here. Here. Yep. And step into all right hop it on the saddle.
MITCH MATTHERS: I am locked in.
ALI B: Awesome.
MITCH MATTHERS: This is that part where you said I can't get out. I can't.
ALI B: you are locked in. This is where you add to the right, it's gonna get heavy.
MITCH MATTHERS: Okay.
MITCH MATTHERS:You turn it up. Also where you taking off to the left — mix it up.
MITCH MATTHERS: Sure I think this is a — great class — I really enjoyed it is a lot easier than I expected actually.
ALI B: Killed it. Best part of class.
MITCH MATTHERS: Hello University of Utah. Yeah that's what I'm talking about. Would you reach over and give somebody a high five next to you? And say well done! Well done. When we came here, we actually found out about a University of Utah graduate — Ali B — and she actually started something called Rideologie.
MITCH MATTHERS: And one of the first things I asked her was alright — so what's something that's gotten in the way — what was something that got in the way of you pursuing the dream at least initially? She's like myself.
MITCH MATTHERS: I struggled a lot with self-confidence. You can say I care too much of people thought and it did push me back. That was a huge challenge for me. To really be okay with my dream. To let people in. And to let people see what it could be. I kind of kept it to myself but I worked through it and overcame a lot and I've grown so much
MITCH MATTHERS: By pushing through it
ALI B: By pushing through and not thinking what people care about. Like just believing in yourself and just going with what you believe
MITCH MATTHERS: What I loved about her story was she pushed through that fear. That fear of what other people might think and that also gave her permission to start asking for help and that opened doors. Now I don't know what dreams you're gonna write down tonight. But my hope is that you'll be inspired by Ali’s story.
MITCH MATTHERS: Because I'm guessing with at least some of them — as you start to write them down — some fears might come. It's why I encourage you to push through and say what if you gave yourself that permission to just push through that fear and just ask for some help?
MITCH MATTHERS: Alright thanks for spending some time with us today. I'm hoping the stories and these dreamers and inspire you to think about some of your own dreams. So go after them! And hey come see us at a Big Dream Gathering soon.
On screen: BIG DREAM GATHERING, Fueled by American Family Insurance
Many of us have big entrepreneurial dreams right out of college, but having the confidence to actually pursue for them? That’s another story. The obstacles to actually starting a business can seem insurmountable, no matter what your age. But when you’re fresh out of school and thrown into the real world, you start to ask yourself questions like, ‘do I have any way of getting the money?’ ‘Do I have the necessary experience?’ ‘Is my idea even sustainable?’ ‘Will anyone take me seriously?’ And, overwhelmingly, we begin to tell ourselves ‘no.’
But what if you gave in and instead said ‘yes’ to your dream, regardless of any uncertainties?
That’s just what 24 year-old Ali Babcock did. Now the founder of the indoor cycling studio Rideology in Salt Lake City, Utah, Ali knows what it takes to pedal towards a big dream at a young age — and hers is a story we can all learn from.
“I tried applying for different jobs after graduating but nothing was quite working out as planned,” says Ali. “That’s when I kept going back to my original dream. And I knew that if I didn’t act on it, it would never happen.”
So she went for it. And so should you! Here are Ali’s top three tips to getting your entrepreneurial dream off the ground and running.
Find your confidence. First and foremost, it’s important that you believe in yourself. And although confidence doesn’t come easily to most, Ali found that it can be learned, and that it’s one of the most crucial traits to have when pursuing a dream. “I used to be insecure and concerned with what my friends and family would think about me starting a business, but you would be amazed at the kind of power that comes from having self-confidence,” stresses Ali. “Confidence will emulate and give off the professional image that one needs when owning a business. And if you believe in and have passion behind your dream and yourself, then you can’t fail.”
Learn from others. Being a young entrepreneur, Ali says she’s learned a lot from the successes and failures of those around her, and suggests that you also find your inspiration from someone who knows what it takes. “My father is an entrepreneur himself and has been building his company over the last twenty years,” she says. “I’ve seen him have errors and successes with his company, and that has helped me know the rights and wrongs with opening a business. And anyone who has managed to grow their business through hard times — like the Nike’s or Amazon’s of the world — is a good example. They all started from somewhere not knowing what the future would hold.” So do some research on the CEO’s of your favorite companies or reach out to small business owners in your community to learn more about the joys and hardships of running your own show. It can’t hurt to turn to the experts!
Give it your all. Remember those oh so common questions about money, experience and sustainable ideas? Ali recommends pushing them aside, just getting started and learning about and gaining the resources you need along the way. “I didn’t have all the resources when I started, and it took networking and researching to get what I needed,” she explains. “But I think that if you prevent yourself from starting a business just because you don’t have everything you need, then you’re unnecessarily halting your dream. So don’t let fear or negative thoughts prevent you from getting your dream in motion. Just know you can do it and learn all you can to make it happen!”
Starting a business may not be easy, but living your purpose and doing work you truly enjoy makes all the difference in life. And if you’re still skeptical about taking the plunge, just remember Ali’s final words of encouragement, “You can’t fail if you do everything in your power to keep it going.”