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Being Young
Very first investor pitch I ever did could be an all time worst investor presentation. Straight out of school. Didn’t have a subscription agreement. Didn’t know what pre-money was. Didn’t even answer all the basic questions. I just had enough confidence to do the pitch. -MJ
Couldn’t identify his target market. Showed up on the wrong day. Kept calling the investor daddy-o. Wasn’t wearing any shoes… the kind of performance that wouldn’t just deny you seed capital, but that could get you arrested in 16 states.
If you are a VC or angel, and have a weak heart, do not watch this video! However, if you are fresh out of school, and looking to launch a startup… proceed with caution.
Coming out of school is a perfect time to get a start up going
When your young, you have an inevitable feeling of immortality. From the first time you ride a wheelie on your bicycle, to jumping off the jungle gym, you inherently know that everything is going to be okay. It’s only natural for the thickness of this bubble of invulnerability to wane over time, until it is finally gone and you become scared of even the minor risks.
“Being Young is a Fault That Improves Daily.” - Swedish Proverb
In the world of entrepreneurship, one of the greatest time spans you will have to take a risk is during your youth. Your adult enough to make your own choices, yet young enough to have little to lose. Your smart enough to understand that great risk can lead to great reward, and stupid enough to push in all your chips instead of folding.
Most young entrepreneurs make the mistake of thinking it’s an old professionals game. While this is true it some circles (especially investments and funding), for the most part you will never be more hard working or enthusiastic about your venture than at this stage in your life. Professionals can see this in you, and it is the best quality that you will never be able to put on a resume.
Simply put, being young and driven is better than being old and experienced. There are perks to being an expert as well. You may get better financing choices, and you certainly have more contacts, but being an entrepreneur is tough work that sometimes requires tough choices.
Show investors a great idea, enthusiasm, and Ramen Noodle receipts for the last four years - and they will see someone that can get an idea off the ground and knows how to live frugally.
Young entrepreneurs also are more likely to burn the midnight oil, travel relentlessly, and entertain prospective clients - then get up and do it again. Entrepreneurs don’t give up easily. When they are successful it’s called perseverance. Before they succeed, or if they fail, it’s called stubborn, bullheaded, arrogant, or foolish. Take advantage of this concept while your young. Arrogance is similar to confidence in your youth, but old stubborn people are a dime a dozen.
May 14th, 2008 at 10:33 am
[…] Being Young […]
May 24th, 2008 at 9:35 am
pretty awesome advice, i’m still in my teenage years (only just though
Nice to know that young age may actually be useful in this business.
MJ do you have a book or any mire advice i could get my teeth into?
May 26th, 2008 at 9:45 am
Hey Callum,
Glad you found the blog/video useful.
I have a list of about 30 books I considered to be transformative to me… Happy to share if you would find it interesting. However, there is nothing better than just sinking your teeth into “a business”. Anything, really. The point is to “do”. For me: I found taking action + reading to be a combo that worked well. I find just “doing” or just “reading” doesn’t work as well
Note: my 1st business was selling used video games/comics. I’d buy a box of comics from a kid just wanting to dump, then sell them one-at-time. Not sexy. But, it worked.
May 26th, 2008 at 10:59 am
Thanks so much for the reply!
I’d love to check out the books. I seem to always come up with ideas but have no business knowledge to execute them. I’ve always been trying to make money where i can. 4 years ago, when i was 14 i was busy selling stuff on ebay that i bought at car boot sales, until my mum found out! i had made just under£200 until i was made to delete my ebay account! I know its not a business but it was quite an experience!
Over the past couple of years I’ve been experimenting with e-commerce, making websites, and just generally searching the web for the next “big” thing. Nothing I’ve done of yet has been like a proper business.
However I’m thinking of starting my own blogging company. (low cost, low risk, selling advertising space - just doing it for the experience really) I want to do it properly, like set it up like a proper business. With a business name ect, i suppose i need to look into how to do that! Anyway I’ve been putting it off for a while now but i think i will probably doing after my exams ( the next two weeks!) so i can finally get my teeth into a proper business!
once again cheers for the reply, I will be off-line until June 7th because of exams but if you have a chance to email the books you recommend that would be great.
June 22nd, 2008 at 5:05 pm
Young…schmoung! I am 57 years ancient and still feel invincible, immortal, ageless and timeless. It was young that blew up and popped the great Internet bubble of the nineties by offering pure Internet companies with no idea of when they would or if they would turn a profit. I was there on Wall Street in the offices of the big bucks and watched the whole thing blow down. I said it: “Guys, you’re getting away from the core values that make the blue chips what they are. Practical ideas with adequate funding! Earnings! Breakeven!Profit! Minimized risk! Value! But noooooooooo! They had to have young! Pure internet! The best thing possible for ‘young’ right now is to study how to create companies that stand the test of centuries, like GE, Westinghouse, Zenith, Edison and the like. Add that to young and you’re on and poppin’! Whoever wrote that one must really be, well….young!
November 16th, 2011 at 9:37 pm
thanks for the great help and advice will surely follow it.your diet plan is also good what kind soups do you have ?also what exactly do you have for dinner etc do continue updated.
February 8th, 2012 at 2:09 am
http://qurandansunnah.wordpress.com/2009/07/17/janganlah-mencela-makhluk-allah-subhanahu-wa-taala/
February 8th, 2012 at 1:41 pm
Im a facebook fan! Great products.