Entrepreneurs are not ready-made. They are built. And there is a right time when you should start your startup or business.
Building yourself as an entrepreneur requires passion, mindset, guidance, and much more things that work together, to give rise to an entrepreneur.
Although, entrepreneurship can be started at any age or stage of life, but not every time is perfect. There is a need to sync your mind, body, and the world to become a successful entrepreneur.
So, there is a right time to start a startup for the first time entrepreneurs.
This is what we will discuss in this article.
Motivated vs Mentored?
Motivation or inspiration – what matters more in entrepreneurship?
Budding entrepreneurs often seek motivation to get them started with their startup. But, if you need motivation, its better not to start.
A mind that is easily influenced by others words or action more than his own thoughts is not a perfect mind for entrepreneurship. As an entrepreneur, you need mentors more than motivators. You need guidance. You need expert and experience advice. You need knowledge, tools, team and investment more than words that excite dopamine.
Mentors don’t just motivate, they help you realize your inner strength and guide you to strengthen it. Mentor inspires.
Inspiration is an inner call. It’s an inner desire that keeps you going. You wake up early in the morning not because someone pumps you up but because you want to make it happen. Inspiration is a driving force while motivation is a pushing force.
However, there are some online businesses such as blogging that you can use to earn extra income even while preparing yourself for startup.
Pro Advice: Start your blogging business
6 Factors to Find your best time for startup:
Every startup begins at zero—for everyone. And every startup’s journey is unique. Therefore, the perfect time for starting a startup doesn’t just depend on one thing, but on multiple things.
Mentors realize this very well, and so they play the role of a personalized guide.
Note that these factors are pointed out for the best possible version of your startup’s success. There is still a high possibility that you can still achieve success even if you don’t fulfil some of these listed factors. But, the struggle and risk will be higher.
1. Your Knowledge & Skill Level
Knowledge is a possession of an individual, and according to the findings published in International Small Business Journal, knowledge based factors and self-efficiency of the entrepreneur have indeed a high impact on the success of small business.
Startups in the field of artificial intelligence, robotics, space science, etc., demand a good knowledge of the core subject. For example, Deepsync Technologies, a tech startup by Ishan Sharma and Rishikesh Kumar, who developed an artificial intelligence based technology that allows anyone to sync their voice and clones it.
We interviewed them, and found that they are expert in the field of deep learning, machine learning, computer algorithms, and related areas, which makes the backbone of Deepsync Technologies.
Therefore, no matter how hard a motivator pushes you to launch a startup, don’t do it without acquiring the right skills and knowledge. First make yourself efficient, empower yourself with the knowledge and then you are ready to launch.
2. Maturity Level
Maturity is an indication of how you act on a certain situation.
A lot of the tech-minded, young entrepreneurs, achieve a considerable level of success but their behavior is narrow due to their low maturity level.
This can be very harmful for their long-term success. Their immature mind makes them more likely to make silly mistakes. They may start prioritizing wrong choices, and acquire bad practices.
And therefore, I believe that maturity level should be a factor to check before launching their startup.
Simply, a childish adult cannot run a successful company for long, so first learn to make yourself emotionally and mentally a mature person, then put fuel to your startup dreams.
You need to talk to your mentors, teachers, parents, and evaluate yourself to find out how mature you are. That’s the most easy way, I guess!
3. Co-operate Experience Factor
Experience is the most powerful tool for an individual. When you know anything, the mind is aware of it, but when you experience something, your body knows it as well. Experience is learning by doing it.
Without experience, knowledge is like this:
So, what experience does a budding entrepreneur need? And, is it not possible to start without experience?
Here is a short list: –
- How does the corporate world work? Job experience for a year or more will help
- Experience in subject of your product or services
- Experience of business meeting and conferences (while in job)
- Experiencing the pain points as an employee so you could give better facilities to your employees.
So, before starting a startup, having a year (or more) of job in the same sector is found to be far more beneficial for your startup than starting it with zero experience.
And it’s not necessary. But you need to be a good learner; to learn quickly and early from the early experiences of your own startup.
4. Your Team work and Leadership
An entrepreneur is more a leader than a boss.
A startup is a venture where a lot of unpredictability and challenges exist. You can’t simply sit in an office and order your employees to look after those challenges.
Without having a leadership quality, you will fail to build a stream flow in your business. Your work-flow will turn turbulent and soon you will lose the direction.
Learn to be a leader.
Take it as a warning! Becoming a leader for your team is not easy as you might assume, where your order and members agree and follow your commands. Every member tries to work in their own way, you have to bring their individual effort to the streamline and build a powerful flow form little individual contribution of individual. You will also have to win their trust.
5. Balance Your Energy Level
Everything is energy!
This is the easiest answer to many of the philosophical questions humanity raises. We will not investigate this rather believing that we will continue to add our theory to it.
We absorb and release energy. As a child, we are naturally very vibrant with energy and so we actively release a lot of energy at the playground, among friends and a lot of our activity. But. as we grow our energy level decreases and we need to bring a balance to our mechanism.
As an entrepreneur, you need to learn to bring balance to your energy level. You need to have clear energy goals; where to invest and how much to invest so you can extract the best of possibilities.
6. Right Age for your startup
Is there any age criteria to be an entrepreneur?
Officially, there is no minimum or maximum age limit to become an entrepreneur. So, like those motivators I will also say; it’s never too late and never too early to be an entrepreneur.
But that doesn’t mean you should kill your childhood or burden your old bones at old age with entrepreneurship.
You have to do everything in that one life. Avoid messing up things and don’t miss out important moments of life just because you want to make more money or milestones. 27 is thought as the average age, perfect to get on entrepreneurship. This is the right time for startup; when you have experience, maturity, pleasant family, knowledge, energy and life-moments to support your startup dreams.
So, unofficially make it somewhere between 20 to 50 years of age.
Finally
A right decision at a wrong time is a wrong decision
Startup and entrepreneurship is always open for you. You are free to start your startup anytime.
But, you are not always ready. The right time for startup depends on few things, which you must check.
- You have enough knowledge and skill.
- You are mature enough to know what is wrong and what is right
- Have some co-operate experience
- Build leadership and team skills
- Learn to manage your energy
- You are at right age
There is no ideal time to start startup. If you feel confident, start without thinking too much. The only risk that it leads to is failure (which is nothing strange for successful entrepreneurs)
Brilliant ideas!!! Thank you! Very substantial and helpful 😇
Thank you for sharing! Eye-opener!
Very precise and details ..great write up
You really bursted many people’s bubbles as many speakers out there always preach that age is just a number and all that things but they never talk about it practically which you did brilliantly here.
Wow, this is a very helpful article sir.
Very informative and helpful.
Really helpful.