Want to start a company? Here’s the best time to do that.
This is going to be really simple. Want to know the best time to start a company?
NOW
That’s right.
If you start a company now, there is a 100% chance you’ll start a company. If you don’t start a company now – you need to do more market research, you need more savings, you need more nods of approval from your friends, you need to wait for that end of year bonus, you need more <insert excuse> – then the chances of you starting a company goes down every single day.
Life only gets more complicated. You’re not going to ever be in a better position to start a company. You might think you will, but you won’t.
Begin the begin!
I tell this to would-be-entrepreneurs when I talk to them and ask why they haven’t done the idea they’re vetting with me. A great deal of people want to start companies and most of them never do. Know why? BECAUSE THEY NEVER DO!
I had a minor debate with David Moeller when we both spoke about this at the Founder Institute last week. He made some good, logical points, and we came at it from different views as he decided to start a business after thinking it through (again, logical) whereas I just jumped in when I was 21 and figured it out as I went. His way was smarter, for sure. But I believe my way gets the job done. In fact, I’ve done some research and 100% of people who started a business today actually started a business. The rest of the people who wanted to start a business today but didn’t, I can guarantee less than 100% will ever start a business. My way gets the job done!
But wait, some people shouldn’t start a business, so don’t push them into doing it! Really? How do you know who will make it and who won’t? If I piled up my, Raj’s and Danny’s experience before we started Spunlogic in 1998, an ant could jump over it. No one would have bet on us to have the success that we had.
Take the plunge, start your business and deal with the consequences if it doesn’t work out. Life is too short for regrets.
On the flip side, just because you have an idea doesn’t mean you should start a business as sometimes the idea sucks and you might suck as an entrepreneur too. On the positive side of this, at least you will find out sooner than later, even if you have to the hard way!
Exactly my point, Dave. At least you’ll find out if the idea is viable.
But I’d push on the idea of an idea that “sucks”. Jeff Bezos was told by everyone that Amazon was a dumb idea. Jobs was initially considered crazy for creating the iPod. So its hard to tell if an idea is good or not until its given a real shot to make it.
Just read this and worth thinking through and reading carefully before going at it on your own as it is a wild ride financially, emotionally and psychologically and doesn’t always end well! https://www.inc.com/magazine/201309/jessica-bruder/psychological-price-of-entrepreneurship.html?cid=sf01002
Good point. And I’m not saying entrepreneurship is something everyone should do. I’m really talking to the person who knows they are going to start a business, or wants to so badly they think about it all the time, but are “waiting for the right time”.
Wait, If I start a business today, and a tree falls in the woods, who is on first?
Raghu, of course.
[…] I generally think that the best time to start a company is always right now, here is the advice I’d give to a 20-year-old who wanted to one day start a […]
[…] Most people can’t get past the start. It’s the hardest part. It’s why I say to entrepreneurs all the time that the perfect time to start your business is NOW. […]