Know When to Start Your Business

Know When to Start Your Business

“Am I too young to do this? Am I too old for this?”

These are some questions some people might ask themselves when they start to plan on having a business.

But here is one thing I can assure you. There is no age limit in starting your dream business.

According to Dileep Rao, who teaches high-performance entrepreneurship and venture financing at Florida International University, Stanford University, University of Minnesota and INCAE, "The key to know when to launch your business on a full-time basis is to match your skills, talent and experience with the opportunity and with your competitive advantage."

You have to assess yourself if you are ready for this kind of commitment. Your skills and experience should be aligned in what kind of business you wanted to pursue.

Now if you're in your 30s, and are considering taking the plunge, here are some good reasons to do it now:

1. You're more mature than you used to be.

No more puberty things and mood swings at this age. You have more control of your emotions and you don’t make impulsive decisions. Your mindset is matured and is now on the “adulthood” level of thinking.

2. You've gotten enough experience on the field.

By this point, you have made the right connections. You may also have encountered a lot of challenges in your previous job, and now you are able to solve conflicts based on those experiences.

3. You're still adaptable.

In a world that’s ever changing, it may be hard to keep up with the trend and to learn a lot of modernized things but take this as a challenge for you to be flexible. You can study your environment and how things work now and from there, you can adjust your business operations and marketing strategies accordingly.

4. You have enough time to start over, if you ever have to.

According to this article, “Not all ventures succeed, and very few entrepreneurs get it right the first time. Launching a business is almost the same as shifting careers, so there will be a lot of trials and errors and maybe even a major blowout from time to time.” Starting a business at the young age will be a good advantage for you. You can learn from these “trial and errors” when you decided to start again.

5. You've had time to save for the future.

When you start your business early, you can start saving early for your retirement. We start doing business for us to be financially stable and secure, and for us to sustain our necessities in life

At the end of the day, your success will be determined on how much you worked hard for it and how much you wanted it to work. You can start now or start tomorrow, or maybe in the next month. If the opportunity is already knocking at your door, let it in. Opportunities come and go. But of course, you have to check to yourself first and ask, “Am I ready for this?” if your answer is yes, then go thrive and prosper and don’t think about if it’s too late or too early.

Reference :

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