Sunday, October 24, 2010

Startups are less risky when you are younger (and cheaper)

Forming a startup is much less risky when you are younger.  After mentioning that I was in high school, almost every person I talked to between sessions said it’s a great idea to start young.  Now that I think of it, in some situations there is zero risk involved in starting a startup, in which case it becomes purely a learning experience.  This is what they told me: starting young will help you gain a better sense of what type of team is needed for a successful startup in the future or the inevitable ininsanity involved in starting those one-person startups.  Additionally, a number of speakers stressed the importance of doing things NOW:  Don’t wait if you have an idea. Quit now if you are failing and don’t be afraid to fail.

Get involved at a startup. Almost all of the venture capitalists and angel investors that talked on stage said the best way to approach them is through someone they already know.  It almost seems to be a reoccurring pattern that some of the most successful startups today came from people with experience working at other startups.  This made me really realize the importance of getting out there and really networking with people in the startup scene.  Keeping this in mind, It’s probably far more worthwhile to intern at a startup than an established company.

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