Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time – Thomas Edison
90% of the startups close before their first anniversary, “one success takes you one step forward towards making it big and one failure takes you ten steps back”, as you have lost some money, zeal and time.
Working in an agile environment of the startup it is a massive transition, definitely requires more than a year of time and double the number of hours you usually work in a structured environment
I think the probability of success could be more if you start early
- Age 20 – 27 years- Fresh blood, lot of energy, can take max. Risk, unmarried, they have “no other choice” to make it successful, which is the best and the strongest feeling to have, something like we have it just before the exam if I don’t do it now, I would fail. I had an interesting conversation with my boss ten years back which changed me forever, I went to my boss and said that this is too much work, and can’t do it because I have no knowledge, and time is very less, my boss told me
You are an engineer and I think you might have never opened the book before the prepration leaves and you got a first class degree. Just put that effort today you will get there…
- Age 27- 40 years – This is the most difficult age group, they are married, they have responsibilities, they have EMI’s to pay etc. They are trained to do certain things but not all, they“have the choice”, they have the choice of returning to your job if the startup does not work. The right thing to do is to have a group that complements each others skillset.
If you can’t fly then run, if you can’t run then walk, if you can’t walk then crawl but keep moving forward – Martin Luther King
- Age 40 + years – This age group is more seasoned, have a good network, they were trained in managing people, they are more financial stability, they “have the choice” and can bring stability, maturity and scalability to a dynamic startup.
Anyone who has never made a mistake, is the one who has never tried – Einstein
These are my thoughts; please share yours in comments below..