This is part of our series of advice to young entrepreneurs. Selected Loan Mantra employees share commencement advice to new entrepreneurship graduates interested in starting their own businesses.
Hey Class of 2025,
Let me start by saying this: I was literally in your seat not long ago. When I graduated from the University of South Carolina two years ago, I didn’t exactly know what would come next. I had a degree in business and I knew I wanted to pursue a career in finance. During my time at USC, I’d fallen in love with Charleston and wanted to remain after graduation. Everyone told me I couldn’t have it both ways. If I wanted to work in finance then I couldn’t live in South Carolina. I had to move to a larger financial market. But, more on that later...
I bring this up to say that if you’re currently feeling overwhelmed, excited, and unsure, I’ve been there.
Real Talk: The Business World Feels Like a Lot Right Now
You’re graduating into a world that’s kind of a mixed bag. Interest rates are still high. Investors are picky. Loans can feel out of reach, especially for young entrepreneurs. Everyone tells you to “start your own business” or “be your own boss,” but no one tells you how to do those things. Your skills are green, but your bank account is probably not.
At Loan Mantra, I work on the inside of the small business finance world. I see what’s actually working. What I would tell you is that some of the best entrepreneurs out there are in their 20s. They're first-time founders. And even if they are learning as they go, some of them are killing it.
Also, for my fellow Darla Moore alums, here’s some information you should know: South Carolina has one of the fastest-growing rates of new business applications in the country. Likewise, it was recently ranked the 6th most sought-after state in the U.S. for small business growth, bolstered overwhelmingly by young entrepreneurs. That means people like you and me are stepping up and building the communities we love and care about.
Here’s What I’d Tell You Over Coffee
If any new entrepreneurship graduates were to ask for my advice, here’s what I’d say:
- Start where you are.
Remember how I worried that I wouldn’t find a meaningful position in finance if I stayed in Charleston. That turned out to be an unwarranted concern. You don’t actually need to move to NYC or Silicon Valley for your career to matter. Success stories are being written and industries are being disrupted from communities all over the U.S. You can be the the one to shake things up, regardless of where you are. - Use the tools available.
Our generation knows a thing or two about technology. In fact, we’re so inundated with tech options to the point that the sheer number of tools is sometimes the problem. One of my jobs is to help entrepreneurs get connected with capital—even first-time founders. There is capital available. You just need to know where to look. - Ask lots of questions.
No one expects you to know everything right now. But if you want people to show up for you and to be a potential mentor, you need to be hungry to learn and respectful of their time. - Don’t underestimate your voice.
Whether you’re pitching a product or contributing to your team meetings, the way you communicate is what will set you apart. Here’s an example: 96% of Gen Z consumers prefer financial technology for their personal and commercial banking and investing. This means I have insight into our core demographic that many of my team members don’t. They need my insight, and I am willing to give it. - Be patient with yourself.
You don’t need to be a CEO tomorrow but you could be one in a few years if you give yourself space to grow and learn along the way.
Final Word from Your Peer
You made it through some chaotic years including remote classes, economic curveballs, and more. That says a lot about you. If you’re dreaming about launching something, from a side hustle to a main hustle, go for it. You’ve got lived experience on your side and no shortage of technology to support your bold ideas.
Congrats, Class of 2025. Let’s build something amazing.
