You get "a point" for having a significant other or a serious relationship? Well, what if your significant other (like my wife) is a very smart person you can bounce ideas off of, and makes enough money on their own to pay all your basic bills and living expenses (also canceling out your +1 for a mortgage drag point)?
And you get 1 point for every 5 years after 20? Maybe make 30 the baseline there, but really that whole calculation is just off. When I'm hiring someone at a startup I tend to cringe at the 25-and-under crowd with startup stars in their eyes and no experience. THEY are drag on the organization because the majority of them don't know how to work independently and don't know what the company is supposed to look like in 5 years, so they lack a lot of vision and understanding (sorry if this offends anyone reading this, but I've always advocated that people get some real-company experience BEFORE joining a startup).
I can see how the kids thing might cramp things a bit (in theory I guess, I don't have any kids, so no real experience there).
I also wouldn't recommend that someone rush into their next venture after something else winds down or blows up (as the author of this article did). That seems like a great formula for making poor decisions, fighting some invisible ticking clock.
Ugh. I hope nobody actually takes this article too much to heart.
It's easy to get used to structured work environments where lots of things are taken care of for you (not just the money). However, full-time work spent as a freelancer or self-employed would probably have less drag associated with it.
I am 26, and my professor was quite clear. He said you have maybe a couple of years when you can take all the risks and pursue your startup dream.
(Yes, my score is 1 and I am still close to failing. How about that...)
Would really appreciate sharing your accomplishments to inspire and give hope to people, telling youngsters they have more time than they think they do, and more experienced ones the push they might need to make that jump.
If you're going to wait before going on your own, just make sure you get the most out of your job. Avoid boring and routine stuff, venture out of your comfort zone, learn skills beyond your own specialty.
I am also doing everything myself, until this point at least. i do have a co founder, but he is a busy man (Department head of CS form my university.)
I am also doing everything alone, that too on the side (I had to start doing a job some 6 months after starting my startup, due to financial and immigrations issues).
So, here I am , a 26 year old, immigrant startup founder, who doesn't know how to get more people (or if I want more people).
I am getting to know and learn a lot more, and I am doing it very cheap. So successful or not, personally I think I will gain a lot.
My question really was due to the fact that I might be failing soon enough, and more and more I see my friends and they all SEEM to be enjoying more and relaxing more doign their regular jobs.
So, I am more afraid I might not be able to do more later on, and do any more startups if this one fails.
Somewhere in my head, at least I know one person who did it in his 40s. Gives me some level of confidence that it's not too late.
Also, hearing all these stats about younger guys doing it and succeeding, Zuck and the likes, doesn't boost confidence either. Quite few times, I end up thinking, maybe this is it, after I am old, I might not be able to do it, since not so many people seem to be doing successful statups, or at least we don't hear about them much.
Medical Issues: +1 to +inf points, depending.
i.e., I have migraines, 5+ docs to see about them, lots of pills and meds to buy, etc. Definitely getting good use out of my megacorp insurance plan & psuedo-unlimited sick leave.
Ignoring the migraines, I only have 1 point in his system, but there's no way I could do a startup right now... I had more sick hours than work hours last week.
Everybody has this idea that for a startup to be successful EVERYBODY must be thinking/working only on that business for the 4 hours a day that they are not asleep. I do not believe that argument.
This also means that a more experienced, successful, and wealthy man with a small family may too be old or have too many children to start his own company. Logic should suggest that its the perfect time, when you have 25 years of experience under your belt.
Personally, there should only be two real indicators of any size start up you take: 1) what do you feel you are capable of and 2) how far you are willing to go (whatever your priorities may be).
The formula is simple:
incomings - expenses = netflow;
if netflow > 0, you are good to go,
else if netegg/netflow > years-of-comfortable-living, you are good to go; otherwise get a job.
Seems like a 20-year-old's idealised conceptions of founding start-ups.