Is it too late for your start-up ?
Rewind by 10 years, and imagine opening the newspaper in the morning with a cuppa in hand. How many articles about start-ups would you have seen?. Next to none. Cut back to today, you can see leading dailies in the country cover start-ups with a vengence, some of them dedicating even 1 or 2 pages of prime real estate to start up stories.
1 — Should I or should I not ? 2 — When is the right time to start ?
This is a clear indication of the exponential increase in interest in our eco system and favorable conditions for start-ups in the country. Many successful start-ups in the recent past have also played their role in creating new possibilities.
Many of my friends and industry colleagues keep asking these questions,
Circle 1 — What are you good at ? Circle 2 — What are you passionate about ? Circle 3 — Is there a big enough market for it?
In this post, I attempt at addressing these questions to my best.
I would ask you to consider the 3 areas in this Venn diagram
If your answer to all the questions is “yes”, your venture falls in the shaded portion, the perfect space to start. You have high probability of your start-up working. Even in case it does not work, your passion will carry you through the lows, in particular.
If you answer “yes” to 1 and 2 and “No” to 3, you are pursuing an expensive hobby.
If you answer “yes” to 1 and 3 and “No” to 2, you will only go as long as things are fine, you might not have the energy to go through the lows.
If you answer “yes” to 2 and 3, and “No” to 1, you are experimenting like a foot ball player trying to attempt cricket for a living. You would be wiser then to choose a team or a partner who would fill your gap.
It takes a bit of soul searching while answering these questions. The more authentic you are, the better prepared you would be.
Does success have a deadline ? If so what is the best age to succeed.
You would have heard of (or experienced) “mid life crisis” hitting between the ages 35 and 45, there is a new one on the block now called the “quarter life crisis” seemingly between ages 20 and 25.
The bottomline is there is no age bar to cross the finish line. It is the age of the mind. You can be of any age, if you are starting now, you are the 20 something today. If this looks too abstract, here are some data points of companies started by their founders with their age groups. Pick yours. If your age does not appear here, you are the creator.
It is never too late and never too early …
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Originally published at https://www.linkedin.com on June 17, 2015.