26
May
11

Start a company when you are young

I met a partner at a top VC firm in India who told me that I should get a job instead of starting up because according to him average age of the founding team of funded startup was 34-37 and thus I would never be able to raise investment. I think about this now and laugh because I think GharPay’s team has beaten the average by 10-12 years. The odds are definitely stacked against a young Indian entrepreneur but there are some tremendous advantages of being young.

1. You and your team doesn’t have kids to feed or a loan to pay off. GharPay’s entire top team of five people take as much as an average 27-28 year old would be earning after working up the corporate ladder. And these are very best people that I know. I doubt I would have been able to recruit only the best from my friends had I been 30, when most of them would never be able to take a serious pay cut.

2. You are on the path to success very early. The best musicians, dancers and scientists started off really early. To really build a blockbuster company, you need to be really good at starting and running companies, which comes from real world experience only. Better to start early.

3.  You are foolish enough to tackle a big hairy complex problem because you have no clue about the real world. And you become seriously successful only if you solve a big hairy complex problem. When it comes to entrepreneurship the only experience you need is the experience of having run a business previously. Domain knowledge helps but you can always spend a few months to a year understanding everything you need to run your business.

These are some serious advantages young people have, and its upto you to exploit these and fast!

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