Michael Saltzstein: Young and Entrepreneurial

Age is just a number when it comes to success in business, according to Michael Saltzstein. The proof lies in the stories of entrepreneurs like Vera Wang, who didn't become a couture mogul until the age of 39. Then there's Reid Hoffman, who founded the world-renowned job placement site LinkedIn when he was 35. And how about Ray Kroc, who opened the first KFC at the ripe age of 51? These legends demonstrate no expiration date for achieving great things in business. With determination, grit, and a passion for their work, anyone can succeed regardless of age.

It's never too late to chase your dreams and become successful, but if you start early can certainly give you a head start. The benefits of beginning at a young age are numerous when starting a business. For one, you'll have more energy and enthusiasm to pour into your venture since you'll have fewer responsibilities and obligations. Additionally, you'll have more time to learn from mistakes and build up your skills and experience. Plus, starting young means, you'll be able to establish yourself and your brand earlier on, giving you a wider window of opportunity to grow and expand your business. So, if you're passionate about entrepreneurship, why wait? The sooner you start, the sooner you can reap the rewards.

For starters, you have more time. This time can be spent learning more about the craft, gaining priceless experience, and making and learning from your mistakes. Michael Saltzstein emphasizes mistakes as the biggest brands profited in the billions after straightening out a series of mistakes.

Another reason you should start a business early is that the stakes are much lower. Imagine putting all your savings into an egg business when you are 55. Michael Saltzstein points out that recovering will be extremely difficult if that fails and you lose everything.

Entrepreneurs who do the same at half that age still have plenty of time to recover from the losses.

Finally, younger entrepreneurs can focus on building their businesses rather than their CVs. A great resume can land you a great job, but a business can potentially set you up for life.

According to Michael Saltzstein, building your brand can be a slow, daunting process. However, at the same time, if you ever need to go back to corporate work, having a background in business will look great on any CV.

Thank you for reading.

Michael Saltzstein spearheads global risk services, financial structures, multi-line claims, and strategic planning and enterprise initiatives. For more on Michael and his insights, click this link.