Open-source software can reduce or eliminate the need for consultants and tech support.

When Annie Wang, 21, co-founder of HerCampus.com, wanted the articles on the site to rotate in a slide show, she didn't hire a Web designer. She found a free online resource and spent a day teaching herself how to create the slide show.
Being a young entrepreneur means coming up with creative ways to fill your knowledge gaps, says Eric Bahn, 29,dell xps m1330 battery a council member and founder of BeatTheGMAT.com, an M.B.A. applicant community that generates close to seven figures in revenue. Mr. Bahn, who does not have a technical background, found a free resource on the Web and taught himself HTML to build his site.

Most of the business owners who belong to the council did not need much physical space to start their companies.Dell vostro 1000 battery For the person who wants to start a restaurant, a bakery, an exercise studio — or any other business that requires renting or owning property — the barriers and expenses are still high. Mr. Gerber warns that anyone starting a brick-and-mortar business still faces the same cost barriers they always have — including high rent. He advises young people to start a business that does not require expensive space.

BUT start-ups do need some financing. So Mr. Gerber is also starting the Gen Y Fund, from which young entrepreneurs can seek funding. Council members will have the option of investing in the fund starting next year.

Still in debt, Mr. Gerber considered his career options. His mother kept encouraging him to get a "real"job, hp pavilion dv2000 battery , hp pavilion dv6000 battery the kind that comes with an office and a boss. But, using the last $700 in his bank account, he decided to start another company instead.
With the new company, called Sizzle It, Mr. Gerber vowed to find a niche, reduce overhead and generally be more frugal. The company, which specializes in short promotional videos, was profitable the first year, he says.

Mr. Gerber, now 27, isn't a millionaire, but he's paid off his loans and doesn't have to live with his parents (he rents an apartment in Hoboken, N.J.). And he thinks his experience can help other young people who face a daunting unemployment rate.

In October, Mr. Gerber started the Young Entrepreneur Council "to create a shift from a resume-driven society to one where people create their own jobs,"he says. "The jobs are going to come from the entrepreneurial level."