What's the best age to start your own company ?
I've been thinking about it for 19 years before making the jump. But there was always a problem:
- not a good enough idea
- a mortgage to pay
- young kids to raise
- the banking job was still exciting (or was it ?)
Only to find that what I only needed was a gentle push to make the leap of faith.
43 is actually a great age to start a company.
According to HBR, The Average Age Of A Successful Startup Founder Is 45:
- first and foremost, you have a network - your most important asset
- you might have debts: but you have credibility (credit in latin)
- you may have a family: they will be your best support
- you have management experience: people, but also business
- you have life experience and a thicker skin
All things you don't have when you start a business fresh out of university.
Your network is your most important asset.
It's not enough to have a terrific idea. It has to be tested, it has to be challenged, it has to be refined or entirely redone, it has to be funded, it has to be sold.
All of these crucial steps involve a solid interaction with people that trust you: your network.
When I left my comfy job I thought I had a hell of an idea.
It turned out that my network, built over 19 years in finance, was much better than my idea:
- they destroyed it: I ran 100s of interviews and found out that the concept was fuzzy and not suited for B2B as initially planned.
- they spent time giving me feedback about their real pain points: I would like to quickly get an overview of my interactions with my contacts! I would like to connect my notes, my events, my topics, my network! I would like to understand the hidden links between actors of my world! Forming the basis of what Weavit is today.
- the biggest risk takers agreed to support us and we raised 1.2m$ through an angel friends seed round.
- and at launch time, the word that several thousands of contacts can spread is an invaluable gift.
My best career decision so far !
As scary as it can look, it's probably when you are the most comfortable in your professional life that you should go for it. Make the jump. Take the risk.
So if you are not a fresh grad or a gen Z, if you think it's too late, too risky or you are too tired, go for it: now is the right moment!
Weavit has not yet been launched (still a few weeks to go), we are not making money, but these past year has already been over rewarding. Go for it !
good piece!