Most people who would like to start to put up their own business may not have the courage on how to start. The first question that would probably pop up in their minds is, “When is the best time to start?”. You may feel at lost not knowing when and where to go, But, this would just really mean having to sit down and take some time thinking of what your reasons are for starting your own business.
I grew up with parents who are both government employees. So, practically, seeing them gone the whole day when I was a kid, I had no idea how a business would go. Although I have seen my mom sell a few things at her office whenever she comes from Hong Kong or when my dad comes home from Japan, still, it wasn’t enough for me to have that urge to be in business when I grow up.
As I grew older, my mind was more focused on being a doctor. However, life didn’t lead me to that path. I got married at a young age and really didn’t know what or how to start a family. Although both my parents and in-laws were very supportive of us, still, I wanted to have my own money to spend on things that I want – not exactly just for my personal needs, but for my husband and son, as well. Fortunately, my in-laws were into business, and that is probably where I was encouraged to start my own.
To cut the story short, I have started with several businesses when I was in my mid-20’s. However, they were not as successful as I hoped that they would be. And now, 20 years later, I have realized that more than just wanting to earn, I should have truly understood how to handle the businesses better.
The Different Stages of Earning and Learning
I have read from one article which was related to a video of Jack Ma, the Alibaba genius, that one should start to really be out there to learn how to earn and support for his needs as early as in his 20’s. Why? This is because, at this age, a person has all the energy and enthusiasm to learn from learning from other seasoned entrepreneurs. Keep in mind that even if you have the resources to put up your own business, it does not end there. You need to equip yourself with enough knowledge on how to run the business and develop strategies that can help increase your revenue. So, before you even start jumping on an idea to start your own business, think, think, think.
Some would say that when you reach your 30’s, you are old enough to start your own business. Why? Because of the experiences that you have had for the past years may be enough for you to use in starting your own. And by the time you reach 40, you should have made a great improvement with the business that you have started with and be able to at least be making twice as much or even more than you used to. Not bad, right?
But, is it as easy? The answer is both a yes and a no.
Yes, because if you truly put your mind and heart into something, you will find ways and have the time to look into everything to ensure that you’re going in the right direction. No, because, life is not perfect. Even if you seem to have made a perfect business plan, there are unavoidable circumstances that can happen along the way that can affect your plans, thus giving a different end result.
With this, again, you must not feel discouraged. Never see yourself as a failure. For some time, I have thought of myself as one since I was not able to put up a stable business. But I have realized that it truly takes two to tango. If you are single, it is unlikely for you to encounter many difficulties in making decisions for the business. But if you are married or in a relationship, seeing things differently would never make a business succeed. Although you have the same goals, not being able to come up with a common strategy may become a hindrance.
I have heard some people in their 50’s that are starting to become slowly inactive with the things that they have started. Giving the younger people the chance to do the work is a great way of helping them as well as giving time for the older people to slowly pass on the baton. By the time they reach their 60’s, most people have already retired. But some self-made businessmen are still on their toes working like a log. Is it good or is it bad? For me, I think this is good since they have all been accustomed to being busy and being surrounded by people, doing a lot of work, they can still keep themselves busy. However, the time that they spend in their businesses should be lessened – of course, for health reasons.
So, when is the right time?
There truly is no exact time when you should start your own business. It depends on one’s needs and skills. Example, you are single in your mid 20’s, this may be an ideal stage on when to start your own business since you can be more focused with your business and would have fewer worries about your family. So practically, starting with a clean slate is far better than starting later in life when you have to worry more than the daily needs of your family – kids’ education, mortgage payments, and so much more.
You need to have a mindset that would enrich yourself into becoming the next successful entrepreneur. Most entrepreneur’s goal is to be on the list of top entrepreneurs of the world. It may not just be a dream after all when you truly put all your efforts and ensure that you choose a path that only leads to one direction- UP!