Have a great business idea in your mind? Waiting for right time to start up? Should you start early or late? Frankly there are no rules and even if there was any rule, there are always exceptions to it.
When you are very young, you do not have any experience of how a business is carried out. You are so raw that people might not believe in you at first. Money is also important. All in all, I must say that if you are just out of college, then you must spend some quality time with some industry so you are familiar with it. You can also accumulate some money so you have some seed money. You also get some time to think more on it and can plan a few things before playing out.
On the other hand if you are more than 40-45, then you are sufficiently experienced and have seen industry from close quarters. If you have been planning for the same, you also have time in which you can accumulate seed money by keeping your lifestyle below what you can afford & by investing in assets which can be liquidated in needy times. At the same time, it is also tricky. Since you have grown senior in your company, you might be getting fat salary and your family has grown big now. If you start up, your salary will stop & your expenses will be pretty high. You must plan so that your savings are there for about 1 year or so.
But if you are in 25-35 group, then time is great for you. Your family is small so you can spend more time with company. You have experience as well as low expenses. Your salary might not be that high when compared with what you might have got after 10 year. I consider this as golden period.
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