10 reasons you should start a startup before turning 25

1. You have no fancy habits: I’ve never, or hardly, ever been spoiled by perks like a corporate car, four-star hotels on business trips, & unlimited long distance phone calls. My lifestyle is still the one of the student I used to be until June 07: in many ways very inexpensive. And I don’t mind spending 100 hours working-sleeping-living in a room with a bunch of brilliant minds eating pizzas. If you’ve recognized yourself in this pattern, then this is the first reason you should consider starting a company.
2. It is easier to raise business angel money: as a young entrepreneur, especially in Europe, raising VC money can prove extremely time-consuming and challenging. The venture capital crowd is an elitist herd that needs to show its limited partners (institutional investors providing them with the funds later invested in startups) a serious track record for the entrepreneurs they’ve bet on, just in case things turn wrong with their investees. Turning to business angels, whose decisions rely on a simpler governance since they invest their own money, is therefore the most viable option on the condition that you treat business angels like a VC - that is to say like a tough-minded, selective investor. By & large, there are two kinds of business angels: successful entrepreneurs, & successful executives who never found the time or will to start their own company. I regard being young when trying to raise angel money as a huge asset: angels want to have an impact, and the chance they’ll make the difference with a younger, more flexible mind is larger than with a seasoned former large-corp executive. Business angel are more likely to patronage youngsters than grey hairs.
3. You most of the time have no family to take care of: before turning 25, you should still have at least a couple years to go before having babies and all that jazz. So, from a personal risk standpoint, taking professional risks is not risky. On top of this, you don’t have too tight a deadline to start getting a decent salary. Last, at the end of the day, hunger seriously makes you bootstrap your butt off.
4. You face less social pressure: few of your former classmates but the entrepreneurs already make millions so you don’t feel like the tramp in the room at alumni reunions & events; today, you all eat pasta & rice, but when the time comes some of them will be reasonably wealthy (most probably those working in investment banking, market & risk finance & real estate), you’ll be the one with two exits on the tally.
5. You haven’t been corrupted by ill corporate habits taken from procedural organization: politics, unethical struggles for promotion, pyramidal hierarchies, etc. I don’t know anything (almost; for instance in my last corporate experience, I was told ‘white’ on the one day, and ‘black’ on the other: it’s okay except when it’s about your career. So I started wondering whether people really cared, and I want no one except myself to take care about my career anymore) about it and feel good about being certain not to reproduce such wrong behavioral patterns in my startup.
6. Ignorance is bliss…No fear, can-do attitude. That’s you. Same for us: we’re running for the next big thing: high risk, high return. We’re not there to play pussies & since the opportunity is huge, the chance that we have an impact on the world is significant. We deeply want to make of the world a better place. We’re embedding meaning in our quest. That may sound naive, but as Mahatma Gandhi once said: “Almost everything you do will seem insignificant, but it is important that you do it”.
7. You have no regret for a job as an apparatchik in a large corp, since you don’t know how comfortable it can be & how hard it can be to find the guts to say “good bye” to.
8. You have plenty of time to do it again: being an entrepreneur isn’t a job. It is a state of mind. Once you become an entrepreneur, you’re an entrepreneur for an entire lifetime. I can picture so many first time entrepreneurs who, in their fifties or even forties, know they’ll have time to build only one success story on their own - if not zero. This is a very frustrating situation because those who succeed most, financially speaking, are repeat entrepreneurs. Because repeat entrepreneurs learn not to repeat their mistakes and hence do things everyday better. As far as I’m concerned, I see starting young as a huge asset because I’ll have time to build a number of companies (say 5) over time.
9. Your cost of failure is zero, not to say negative; say you fail and don’t want to do it again (which is unlikely) then you’re off to the job market at a premium because everybody’s looking for entrepreneur-minded people. An experience, be it a failure or a success, as an entrepreneur is worth every MBA-trained strategy consultants altogether. Your cost of failure may, depending on your cost of opportunity & the necessarily small amount of money you invested in your own venture, actually even be negative: failed entrepreneurs are a scarce resource on the job market. Those with large corp experiences are largely commiditized against those with startup ones.
10. You will get rich faster than if you had worn dark suits because you’re working and hence creating value for yourself rather than for someone else.

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