Today, Exeleon tackles the age old debate concerning the experience of successful entrepreneurs. Does the old trump the youth when it comes to running a successful business? Is the start-up utopia merely a concept and not a soon to be reality?
Gear up SME leaders and readers, as we take you through a quick run of how experience can work both as a key component and also a demotivator for businesses. You can find various other such helpful topics related to SMES and other business and tech news on our website.
Why is Experience Important?
An experienced business and an experienced parent are very much alike. The first time’s always a fumble, but once you had the experienced of nurturing one you can nearly perfect the next. Or in a long enough timeline you can even perfect the former one without having to go for a second option. The right kind of experience in the hands of a businessman can be a better tool than even the strongest HR manager or AI analytics.
But there are downsides
Experience makes one cautious, sometimes overtly so. And to stay on top of this highly competitive world one needs to take a few risks. Often, experience is the primary factor that stops business leaders from entering into new ventures.
This is why the start-up boom was possible. Suddenly there existed a new class of business owners who were ready to take every possible risk and ensure success in the end. But one needs to keep a reminder that many of them did not last in the long run due to lack of oversight.
So what if you don’t have it?
The ones who made it and the ones who didn’t, all started out raw somewhere back in the day. Irrespective of the experience of successful entrepreneurs, the key here is to ensure that you keep the right people closer and constantly have the mindset to accept criticisms and learn.
What is more important than experience itself is gaining experience; the right kind.
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