Experts Speak is an exclusive forum for youth to get advice from industry experts. If you have questions concerning internships, careers, entrepreneurship and start-ups, this is where you can get your answers.
If I want to start a business, do I need to have work experience in the same field? Will my experience in related fields suffice?
Experience will help, but it is not a must. If you have identified an unmet customer need, you can definitely jumpstart your venture. The starting point of success is the customer for any business.
Is it true when people say “Do what you love and money will follow”?
Absolutely! When you love what you do and your passion/hobby becomes your work/profession, you will enjoy it. You will need to learn to be patient and give yourself the time and space to help you stand out from the crowd. Otherwise, just following your passion may not make you financially successful.
I recently set up my own venture. An angel investor is looking at a majority ownership in my company. Is this a typical scenario?
At the outset you need to ensure the investor is the right fit for your business. It is difficult to generalise on ownership structures. For each company the stakeholders, their experiences, requirements and involvement vary.
I wish to be mentored. How do I find an appropriate entrepreneur for that? What can I offer in return?
A mentor need not be an entrepreneur. At different stages of your entrepreneurial life, you will require different levels of mentoring. A true mentor will not expect things in return in a purely transactional format. A true mentor is one who believes in the motto — the more you give, the more you get (although it may not be from the same source).
The writer is an angel investor in start-ups from around the world.
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