Dan Brinklin: “Don’t wait to get started. Or at least understand that if you wait, you may have less flexibility in making tradeoffs between the business and your standard of living. MBA students often ask me whether they should start a business right after graduation or wait until they have more experience. The answer depends on a number of factors, naturally, but I do warn them about the personal sacrifices they will undoubtedly face. All entrepreneurs must ask themselves whether they will be able to tolerate these sacrifices—and whether their families will be able to tolerate them, too. Granted, if you wait until you’ve been in the workforce for a few years, you’ll have more business experience and, let’s hope, money in the bank. But you will also have grown accustomed to spending more money; you may be faced with the terror of not being able to make a decision about the business because you can’t afford it. If you start early, on the other hand, both your appetite for creature comforts and your family responsibilities are not likely to be as great, and you will be able to make different choices.”
via Serial Entrepreneur.
Business Opportunities Weblog | The Only Constant is Change on October 21st, 2005 at 2:10 pm
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