Are we losing our edge as we grow older?

Dear Mr Kumaran,

I'm Haikal from the Tampines Junior College Hat Programme.Thank You very much for the inspiring speech during our Annual College Day.Its good to hear that you are doing well in business.I would like to ask you some questions sir.You mentioned that you were mentored by bankers when you were starting up your business.I really wondered how are you able to do that as not many people have the privilege to be mentored by a banker when they are starting out.Secondly,to be a successful businessman,how long do you think we should work in order to gain expertise and knowledge before we venture into business.Thank You very much for your time.I look forward to your reply soon.

Warmest Regards,

Haikal Mohd Noh

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Hi Haikal,

As it turns out, I am also a good sales man and very successful people have an uncanny ability to convince people to do things for them.

The thing is, starting a company is a risky business and it is hard to predict which one comes to you first - fame or fortune. If you get fortune, you are lucky and if you get fame followed by fortune, you are lucky twice. But, rarely do entrepreneurs start a business solely for the reason of making money, they usually start cos they want to make a difference to the world. Fame and fortune comes as a by-product.

A mentor doesn't suffer from the consequence of bad advice - the mentee does! Even though I had a privilege of being mentored by a top-banker, I suffered a great deal from his bad advice and I paid the price for it. Anyway, he is still a good friend of mine and he also parted some words of wisdom along the way... This brings me to my first opening remarks, which is, you are your own architect. While the mentors can show you the way, you will still need to choose the path that you want to take.

There is no fixed formula for number of years you need to work before starting a business. Some of the successful businesses were founded by very inexperienced people. After 1 or 2 years in the industry would give you enough exposure to start getting your feet wet. Start young cos if you do fail, you'll have plenty of time to recover from your failures. Ironically, older people bring their own set of baggages from their experiences and tend to be over cautious and risk averse - they are the tamed ducks!!! To tell you the truth, I take lesser risks today than 10years ago.

Good luck in your endeavours, Haikal. I'm glad you found the speech inspiring.

Have a good weekend.

Regards,

Kumaran