High flyers or old timers?
7th September 2017
When launching a new business, you should look for two types of people to help you: the high flyers with proven track records who will be able to help and mentor you and your business in the early stages of launch. Also, the ‘old timers’ for want of a better phrase – by this we mean credible entrepreneurs who have plenty of industry experience and backgrounds in setting up businesses but who may want a quiet life operationally (leaving you to get on with the thrust of the launch knowing you have someone around as the ‘sage’).
If do choose to bring in a more mature entrepreneur it needs to be the right kind of person - someone who has kept up with modern times (if relevant to your innovation). The more experienced entrepreneur is more likely to be interested in money rather than shares in the business, whilst the younger ‘high flyer’ will want a piece of the action and would therefore need to be able to demonstrate proven and tangible success in the business world.
There are of course benefits to having the right market experience when you launch a new business because you don’t tend to make the same mistakes as everyone else starting out on a new path. But you do have to make sure you have the modern approach to the market covered (as well as the traditional).
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