I had a friend from Taiwan, 36 years old, he is a venture capitalist. He once said, “venture now, or are doomed to failure. ”
For starters, whether age is a key factor, can distinguish a successful business?
In my opinion, as the so-called “venture capitalist” remarks based on a person’s age to judge its ability, is not a sign of maturity. Entrepreneurs of all ages have their own unique advantages. For example, young entrepreneurs have the advantage of more than 20 years, they have a lower opportunity cost, while market demand has a clear grasp of the younger generation. And for those who are in mid-career and age of entrepreneurs, they have the advantage, with more extensive personal connections, mature attitude, and the industry has a more profound understanding and adequate sources of funding. These advantages are especially applicable to the B2B market. As Yahoo General Manager Frank, has just set up digital advertising platform in the near future adGeek for example, proves this point.
Therefore, we can believe in: the success of an entrepreneur has nothing to do with a person’s age, but depends on the individual’s qualities, combination of preparation and objective environmental conditions.
In recent years, we are seeing more young people are entering the business field, this is a good trend.
But the core of the solutions, rather than blindly follow suit. Many young people in the case of preparations did not do, and began to create his own company, the conditions are ripe and circumstances, this will no doubt result in failure. Celebrity once said that failure is the mother of success. But in my opinion, only after the failure to find reasons and try to solve the problem, in order to be successful. In those early days, arbitrarily decided to act without thinking, are very stupid.
I encourage young people venture to seizing the moment. Most young people need training to improve their skills and gain enough experience, to foreshadowing success.
If you are under 25 years old, and want to create your own in the 3-5 company, the author is given the following five recommendations, for reference.
1. has a unique expertise
If you want to start your own company, expertise is very important, because knowledge is a wealth cannot copy invisible, unique knowledge will undoubtedly increase your competitiveness. Colloquially, entrepreneurial thrust with its closely integrated. For example, the ilovemilk Bootcamp alum Kung,Kung is a professional, the founder of veterinary surgeons to treat large animals, taking care of more than 6000 cows of his head, no one was a better understanding of Taiwan’s dairy farm ecosystem. So he found the milk delivery is a good business opportunity. More importantly, his expertise has gone far beyond the others in related fields.
In addition, my friend Mikaal experience also proves my point. Mikaal from Hong Kong, he set up a trading platform and financial management–8Securities. Before the establishment of the company, Mikaal has over a decade of experience in the field of electronic commerce, so he’s very understanding of the operation of the securities industry and customer needs, and how to create an ideal team. By virtue of his background and reputation in the industry to gain investors ‘ trust in production prior to the actual product, he raised $ 10 million (US $ 2 million in seed money + $ 8 million investment).
2. customer networks and team network
Networking is also a hard copy of the resource. Network refers to business partners, customers, and team.
Before the ALPHA Camp was established, the author once iClick served as product Director. (IClick new DSP Platform–Series-D from greater China’s largest investment of 60 million US dollars). IClick, Chief Executive and co-founder of Sammy, my colleagues work at Yahoo. After the Hong Kong Yahoo engine Sales Director position, he founded the iClick. With his solid business foundation in just six years, iClick from a small business into a big media companies could fetch over billion of dollars. Sammy has developed a number of Yahoo talent, and who later became the iClick employees at startup. By virtue of his reputation in the industry, he soon won a loyal customer.
Speedy networking is the best way for the community to contribute their own forces.
Participation in community activities also helped to set up their own networks. For example, our columnists, UX Designer Dix, in the PicCollage community for designers on a regular basis organize the party, and ALPHA ihower Web development Camp instructors are also actively involved in the Ruby on Rails community activities, and RubyConf Taiwan, and invited the famous speeches of the Ruby developer community events each year. They all contributed to the community through their own strength, along with a fast and reliable network.
3. observe and study human capacity
As an entrepreneur, you will have many opportunities to come into contact with all sorts of people, including investors, customers, partners, and even job seekers. A successful entrepreneurial thinking, compared to most people there will be a lot different. They can in a matter of seconds can determine whether the person they are talking to a trusted, and whether they are suitable for their entrepreneurial culture. For example, many companies will talk with the candidate, with only a few questions to determine their suitability for this position, while talking, can understand the candidate’s personality, values, preferences, etc. Therefore, entrepreneurs should also be the same as the interviewer, and improve their own powers of observation and insight. However, raise insight of people takes time to hone, sales, business development and human resources work tends to have more opportunities to develop this skill.
4. adequate initial funding
For most entrepreneurs, business revenue and profits are not usually sufficient to support its business operations. At this point, the current proposal is Chief Executive of Y-Combinator, entrepreneurs should reduce unnecessary spending to overcome a harsh period of funding needs that early venture.
If you do not have enough initial funds, you probably will not have enough money to support their parents, you will probably have to rely on your partner to provide you with financial support. Long-term fiscal pressures will be spiritual impact on entrepreneurs. Although every entrepreneur faces this problem more or less, but if you have prepared, you can minimize the financial strain caused by the negative impact. In the case of guaranteed basic living standards within a year, can raise enough initial funds to guarantee the conduct of its business. Big resolution Transition of physical retail channels
5. understand their interests, expertise and ambition
Many people start a business the first aim is profit. But to be honest, is not the best way to make money because of its risks and costs are very high, (only a few entrepreneurs to personal health, finding a balance between family and work). Always aim to start a company to make money, rather than entrepreneurial passion, usually soon encountered obstacles, because only passion will allow entrepreneurs to grow.
However, education systems in Asia, passion in the hearts of young people is almost exhausted. Conversely, to work hard and get into a good high school and College is their ideal. Therefore, even when they enter society, still do not know what they should do. Many people living in other people’s expectations, as if they were living for others, rather than their own.
Business in order to be recognized by others – many young people with which to start a business and entrepreneurial attitude, and not in order to follow the passion. Such an attitude and undesirable, and is doomed to failure.
Look for the key is, if we can consciously experience your life. To travel, for example. Many people travel to for themselves and pictures of scenic and some people travel to experience the life of local people, to understand different cultures. One is people living cycle, it kind of is a conscious experience of life, and if you don’t make a change, they will further widening of the gap. If you want to get out of the situation, to extricate themselves from a life of ease, to take on different challenges or have a different life, you will gradually discover, what is best for you, what is the most important thing to you. When you can create a better yourself when you will have more chances to find your passion.
Once you find the passion, you will find yourself able to affect the world, and the world can give. Only in this way can you hushed when when it comes to business pressures, remained without losing their positions and objectives, and calmly deal with.
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