By Moses Baguma
The longer you stay in employment, the less capable you become for self employment. You see, establishing yourself in entrepreneurship requires a special hustle and resilience. That hustle is best endured between a specific age, beyond which it might be hard for one to carry on.
Young people have a wider room for mistakes. They can make numerous mistakes and correct them. Business journeys in their nature, are fraught with errors, from which an individual learns for better subsequent decisions. For obvious reasons, a 40 year old must not commit so many errors!
However, if you go into private business past the age of 35 years, you can still succeed — on condition that you put dynamics under careful control, partner with honest people who have a very sharp acumen and mitigate your expectations for a long while.
The bad thing is that you miss some important lessons – because you may not start small. Starting small has it’s own unmatched benefits. The course of growing a business from a very low worth to a mega one is packed with very solid lessons — which immensely improve your quality of decision making, the most important thing when a business is fully established.
When a business outgrows the challenges of capital, production capacity, quantity and quality of labour, the paramount thing shifts to management — of which decision making is very key.
Making accurate decisions is something one learns best during the formative stages of any business.