If you are between 17 to 29.
I wish someone would have told me this.
Here is the thread ๐งต
I wish someone would have told me this.
Here is the thread ๐งต
Every week, while doing many offline events, many young people come up to me and tell me how I am inspiring them & they want to start their startup at the age of 17, 18, 20, 22 & so on.
Please stop getting hyped by the media.
Everyone wants to build a startup
Please stop getting hyped by the media.
Everyone wants to build a startup
But to build a successful startup, you need:
- Experience
- Resource to attract talent pool
- People wanting to work with you
- Money
- Right Tech
- Understand how Marketing & Sales work
- Learning Operations & Process
and much more.
- Experience
- Resource to attract talent pool
- People wanting to work with you
- Money
- Right Tech
- Understand how Marketing & Sales work
- Learning Operations & Process
and much more.
More importantly, you need to know what problem you want to solve without thinking about raising capital.
Most youngers are so fascinated by the media-hyped news that they focus on building a product for investors & not end customers.
Most youngers are so fascinated by the media-hyped news that they focus on building a product for investors & not end customers.
This is where the problem begins.
While I have only built companies my entire life so far, did entrepreneurship my whole life. I wish I was 12 years younger & I would have never started a company but instead, this is what I would have done:
While I have only built companies my entire life so far, did entrepreneurship my whole life. I wish I was 12 years younger & I would have never started a company but instead, this is what I would have done:
From the age of 19-22:
Work for a bootstrapped company directly under the guidance of a founder. Put in extra hours if you can because you have zero responsibilities or liabilities on your shoulders.
Work for a bootstrapped company directly under the guidance of a founder. Put in extra hours if you can because you have zero responsibilities or liabilities on your shoulders.
When you work with a bootstrapped founder, you learn how to optimize business for margins.
This is the most critical part of building a profitable business.
This is the most critical part of building a profitable business.
From the age of 23 to 26:
Work for a funded startup - preferably to someone who has just raised Series A because you will learn how to spend on growth & optimize business for growth.
You will learn scalability, which is critical to building a bigger business.
Work for a funded startup - preferably to someone who has just raised Series A because you will learn how to spend on growth & optimize business for growth.
You will learn scalability, which is critical to building a bigger business.
From the age of 27 to 30:
Work for a GIANT corporate - preferably someone like ITC, Reliance, HUL, etc. You will make a ton of money, build corporate connections & possibly find your future co-founder in a higher position.
Work for a GIANT corporate - preferably someone like ITC, Reliance, HUL, etc. You will make a ton of money, build corporate connections & possibly find your future co-founder in a higher position.
Invest the money you are making so that it compounds & gives you the capital in the future to build your startup.
When you spend 10-12 years doing this, not only will you have the funds in the bank to seed your startup, but you will also have the connections, network & reputation that will help you to raise capital in the future if you decide to take that path.
In these 12 years, you will learn & make mistakes with other people's money & life is too short to be making mistakes with your funds.
The average age of a successful founder is above 40, so if you are a teen or in your early twenties, follow this advice, put in hours when you have zero responsibilities, then start.
Not only will you increase your chances & probability of success, but you will increase the chances of being able to raise capital successfully, possibly from your previous boss or managers themselves.
I wish someone would have suggested me this during my teen.
Be logical & rational with your thinking.
If you have learned even 1% then make sure to retweet the original tweet
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