Many people have the thought that they want to start their own business someday because they know the fact that working for others is a bad idea if they want to live their desired lifestyle.
Are you thinking the same? Are you still working for others? Do you have a business plan already?
Most of the people don't have the idea of what kind of business they want to do even though they know clearly that getting a 9-5 job for lifetime is not their choice.
In fact, this issue is critical if you want to build a successful business, knowing what you don't want is not enough, you must know what you want.
To know this, you need to connect your inner self to find your genuine desires. Ask yourself, what kind of business you want? How does it look like after 5 years? And why you must build your own business?
By knowing what business you WANT and WHY you want it will allow you to think HOW to achieve it. Therefore, you'll be able to set actionable goals and manage your time in order to build a successful business.
However, this article is not focus on how to build your business or other business related issue, it's about what's the ideal age for you to start a business.
The answer is really not a constant answer, it depends on the type of your business and your situation. But I have personal opinion that you should start and succeed your business before you reach 30.
I have several points of view to support my idea that you should build a successful business before you're 30. Basically, there're total 5 point views.
5 points of view of why you should start your own business before 30
1. Your money after expenses is not much.
Many people thought that after graduated they want to get a high salary job in a big company to work. Some of them never think of building their own business, some of them do.
However, they decide to work several years first before starting their own business to gain experience and save capital for business.
In my opinion, thing is not going to work this way, especially in nowadays economic environment. Lets talk about the gaining experience first. Most people don't get a job that's related to their education in college/university because job opportunity is not many available in market.
Most of the times you are not able to select a job you like, you can only select what's offering to you. Therefore, if you are not able to choose the kind of job you want, how could you get a job that gives you the experience you want?
Besides, many people thought they should work in a company first before starting their own business to save the capital for startup. However, your salary is not high if you've only worked for a short time.
Saving money for starting your own business by working for others is not an ideal way because after minus out the expenses your salary left not much. If you want to save capital through only your paycheck I can guarantee that you'll spend very long time.
After turning 30, you'll have much more monthly expenses need to pay such as car loan, rental fee, insurance, etc. As a turn out, you may work for years but not gaining the experience you want, not able to save your capital for startup, and you don't have enough income to support your monthly expenses because your monthly expenses increase but your salary don't.
2. Can't quit the job even though they know working for others is a bad idea
After turning 30, your monthly expenses is higher than before you graduated. All these expenses are needed expenses, you aren't be able to cut them down.
Therefore, you need to guarantee your monthly income is stable so you don't run out of money. Most people at this age have lots of debt, even though you don't spend money for luxuries item, you're still not able to save money.
This resulting in you can't quit your 9-5 job even though you know working for others is sucks. If you quit your job and start your own business after 30, you can't bear your monthly expenses without saving because before a brand new business enables to help you earn money, it needs time to grow and operate well. There's almost no business can earn much money through the first day it launched.
That's why a lot of people don't have the courage to start their own business after 30 because they are afraid of the huge monthly expenses and debts, if they stop working, who pay the expenses?
3. You're not alone
Normally after 30, you're not alone. What I mean is you're not only responsible for yourself after 30, you also responsible for your families.
Your parent may be retired when you're 30, they need your help for their monthly expenses because they don't have income. You may also get married, and have 2 kids, you have your own family need your income to sustain their lifestyle.
That's why you can't bear the risk of starting your own business. What if you fail your business? What if you loss money in your business? You could not to eat, but how about your parents? Your wife? Your kids? They need to eat.
You can't quit your job easily and simply say you want to do business because if you lose, you lose your whole families. You must have preparation for your families because this is not something only about you, it's their issue too.
4. Adapt to do mediocre work
Working a 9-5 job in a company will nurture you to be a mediocre people because you could adapt to do mediocre work. Most people work in a company find that, there's less work for them to do even though the working hours are long.
Therefore, when there's a work assign to them, they'll do the work slowly otherwise their working life is so dry and boring. When their boss is pass through, they'll act busy as there're many work to do and they're so hardworking.
Or other case is they have many work to do, and they're really busy for working, so they always work overtime. To finish their work fast, they will speed up their working speed but less quality compare to their normal working state, so their output is mediocre.
Therefore, working for others in a company will nurture you to be a mediocre people. This mediocre habit will harm you to be a business owner because you'll not do your best. See also:jobs VS passive income
5. Created limiting beliefs
Many people don't do their business due to their limiting beliefs around money. They have limiting beliefs that make them don't believe in themselves they have the abilities to handle their own business, therefore, they choose to work for others and think this is safer and better choice.
Why I say you better start your own business as soon as possible is because in working environment of a company has lots of people have limiting beliefs of doing own business.
If you always stay around with them, you'll be influenced by them and eventually install the same limiting beliefs with them in your brain. We always heard of if you want to be successful, around yourself with successful people. This is exactly what I mean.
If you stay with mediocre people, you could be mediocre people too. They may complain to you about this and that, and eventually you believe what they say is right. If you don't acquire correct mindset, it's hard for you to build a successful business.
From my point of view, the earlier you start your own business, the better. If you are still studying, try to do a business in your college life. If you are in 20s, don't wait until over 30 to start your own business.
You still can afford the failure when you are young, don't stay in your comfort zone, go and push your limits, your limits will expand. Even if you don't succeed, you gain experience that your peers don't have, and this will help you in your future.
Rio Yee is the Founder of WealthyLoveLife and is super passionate about helping people change their mind and take action to improve your important areas in life such as dating & relationships, personal finance and productivity.