When to start a company?
A software developer wrote to me: “I want to be an entrepreneur and start my own software company. What is the best time for starting a company? Should I start when I was young or should I wait until I am older and have more experiences? Please advice.”
Answer: There is no good time or bad time to start a software company. The best time to start is whenever you are ready which means that you can devote all your attention to it. Starting a business is NOT something you do when you have time or when you like. It requires a lot of thinking, planning, validating, monitoring BEFORE you start your own company.
Somebody believes you can start a business when you are still working at a job. I do not agree with that because you cannot do two things at the same time. Starting a business is NOT a hobby when you can start and stop at anytime. Do not confuse between starting a business and working two jobs. It is possible for people to work two or even three jobs at the same time, assume that they have the energy. Starting a business is different; you have to be able to focus on it.
The best time for starting a business has nothing to do with how old you are. It is a matter of whether you are ready to accept the risks and willing to face the challenges. Many students start their company when they are still in school and being young is better because you still have the passion, the ambition, the motivation and the “burning fire” inside you to do something big. By the time you get older, you may be tied up with family and responsibilities and you may not want to risk your stable family life. Many successful entrepreneurs started their companies when they were in the early 20s or 30s such as Steve Jobs, Bill Gates, Mark Zuckerberg, Larry Page and Sergey Brin.
Sources
- Blogs of Prof. John Vu, Carnegie Mellon University
