Yes, it’s a skill you develop. Also you get into a better position as you gain experience. When you’re young, you have less skills, know less people, haven’t learned anything the hard way. When you take action and have been in business for a few years you’ll know more about different industries, have more money to put into ideas, have experience in business in general, have more skills, have more friends who are in a good position to help you, etc.
For example now I have more people to connect with if I need help with starting something. I have more skills and can test ideas super quick. I can whip up a brand, website, logo, advertisements, etc all in an afternoon and test my ideas. I’d have a better time raising money. I have experience with hiring, managing, customer service, creating systems, etc. I’m better at 500 things compared to when I was starting. So even if we have the same ideas I can execute them a bit better. Imagine the guys here who are 45 that have 25 million to throw at a business or can raise funds at that level.
As you gain experience in business you start looking beyond the ‘visible’ businesses and start looking more ‘upstream’.
You might look at a construction company and see one business but I see dozens. There’s a company that sells the job scheduling software that they use. There’s a company that repairs their machinery. There’s a company that builds the machinery. There’s a company that supplies the rebar they use. There’s a company that manufactures the rubber hoses that goes into the machinery they buy. There’s a company that makes the paint that goes onto the hard hats they’re wearing. There’s consultants that get paid to come into this giant construction company and get paid $20 million to tell them how to run things better.
All of those companies were started by someone who saw a way to make money.
For example now I have more people to connect with if I need help with starting something. I have more skills and can test ideas super quick. I can whip up a brand, website, logo, advertisements, etc all in an afternoon and test my ideas. I’d have a better time raising money. I have experience with hiring, managing, customer service, creating systems, etc. I’m better at 500 things compared to when I was starting. So even if we have the same ideas I can execute them a bit better. Imagine the guys here who are 45 that have 25 million to throw at a business or can raise funds at that level.
As you gain experience in business you start looking beyond the ‘visible’ businesses and start looking more ‘upstream’.
You might look at a construction company and see one business but I see dozens. There’s a company that sells the job scheduling software that they use. There’s a company that repairs their machinery. There’s a company that builds the machinery. There’s a company that supplies the rebar they use. There’s a company that manufactures the rubber hoses that goes into the machinery they buy. There’s a company that makes the paint that goes onto the hard hats they’re wearing. There’s consultants that get paid to come into this giant construction company and get paid $20 million to tell them how to run things better.
All of those companies were started by someone who saw a way to make money.