Being a young business owner has its ups and downs, but I wouldn't trade it for the world.

However, after turning 30 and continually learning, maturing and correcting mistakes, I've learned that there are a few small business lessons that both young and old aspiring entrepreneurs should pay attention to:

1. If You're Not Setting Goals and Relentlessly Pursuing Them, You're Not Moving Forward - I've been lucky to achieve a great deal in my early professional life. Part of the reason is that I continuously set goals for myself, each harder to reach and more complex than the last.

I've learned that if you're not setting constant goals for yourself, time can waste away and so can a business.

2. The More Bridges You Burn, the Harder Your Fight - Learning how to deal with people is priceless. Looking back, I was a little too aggressive upon chasing after things that I wanted and I failed to think about the perspective of others.

Dealing with people takes a certain finesse and, until you cultivate that skill, you are going to have trouble forming relationships with the people who are beneficial to your professional life - and the life of your business.

3. Virtual and Home-Based Offices: Great for Starting Out, but Not Feasible in the Long-term - As an entrepreneur, it is imperative that you start out at home, but aim to get an office.

Having a physical location is more important than most young entrepreneurs credit. My firm's revenue saw over a 30% increase the year after moving from my home office, and this in the midst of the Great Recession.

4. Anyone Has the Potential to Open a Successful Business - I have little doubt that all aspiring entrepreneurs can create a successful business. Hard work, dedication and creativity make up for any current lack of experience or intelligence.

5. No Employee is Perfect, They Become What You Make Them - Entrepreneurs will never get the perfect employee. Nobody will because the perfect employee doesn't exist.

Employees are what you make them. As the CEO, it is imperative that you show patience with your hires and give credit where credit is due.

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