Big Red Car here. Ahhh, the ATX — going to be 70F today and sunny for the next ten days.
So The Boss is still in Steamboat Springs skiing. Bad habit, snow is good and The Boss just doesn’t come home. He has to be home by Christmas, right?
Being an entrepreneur and acting upon your entrepreneurial leanings is an important inflection point in your life. So the conversation turns to when are YOU ready to become an entrepreneur, to unlock that world changing mojo?
The simple answer is that you will be ready when you are ready.
Different timing for different folks
There are some folks who are ready to step out and embrace their entrepreneurial instincts before they are even ready to go to college. OK — works for some folks but not for everybody.
There are other folks who, having learned their craft as an employee, are only ready to go when they have laid a firm foundation.
The real answer is that you never really know when you are ready to unleash your entrepreneurial nature. It is a scary decision. It is a life changing decision.
Listen to your inner voice. Negotiate with yourself. Do it.
There are many different paths to the launching pad. There are stepping stones and there are pot holes.
1. Work for a startup and get an idea of the craziness that is being an entrepreneur. Know what you are getting into. Do it gradually and incrementally.
2. Meet with and get to know other entrepreneurs. [Pro tip from the Big Red Car: “Successful” entrepreneurs, Old Sport? Haha, funny Big Red Car. Very funny. Now STFU and get on with it.]
3. Read extensively about the nature of entrepreneurial endeavor and particularly within the industry that you have targeted.
4. Understand the nature of developing a Vision, Mission, Strategy, Tactics, Objectives, Values and Culture for launching a new enterprise. Do this BEFORE you jump out of the plane. Have a plan. Run it by some other folks. Let it marinate a bit and give it a taste from time to time as you continue to perfect it.
5. Begin to identify a team with which to work. It is tough being a sole founder and it reduces the probability of successfully tapping into funding. Too much risk for some in a one man band.
6. Save enough money to be able to afford your lifestyle — hey, Raman noodles are not free, Grasshopper — for at least 12 months. Streamline your lifestyle to make your money go further.
Age is not really a factor
Many folks are tempted to think that the typical entrepreneur is a young brash individual. Youth is not a necessity to be an entrepreneur and in many instances is an impediment to achieving success.
What is important is good judgment, experience and wisdom. Some folks have enough at age 20. Some may not feel comfortable until later in life. Some may never get there.
Good judgment, the product of experience.
Experience, the product of bad judgment.
Wisdom the product of experience with both success and failure.
Sometimes success is created because one did not really know better. We are often not intimidated by what we don’t know we don’t know. That is the fickle nature of life.
Will you ever really be fully ready?
No. Sorry, Grasshopper.
Do think about it a bit. Do prepare yourself a bit. Do blow on the dice before you roll them. Get a lucky Silver Dollar and carry it with you everywhere. It should be dated 100 years before your birthday.
Good luck. Godspeed.