Angel Investing, Entrepreneurship & Learning

I just read a very interesting article in the Seattle Times that talks about young (in their twenties) CEOs. Supposedly, many VCs are seeking out young talent because they are well aware of the internet market. Here is an example quote:

“Twentysomethings have their pulse on the sweet spot of the Internet, much better than others,” says Mark Kvamme, a venture capitalist with Sequoia Capital, which has invested in several companies with young founders. “They are able to put together a product or service that speaks better to that generation — and do it without enormous amounts of capital.”

To me, this brings up a very good question: Which is better — energy or experience?

Of course, I am a young entrepreneur, so I would take the energy side — under certain circumstances.

1. First of all, the young entrepreneur must be teachable. The last thing you want is a know-it-all inexperienced youngen. On the other hand, an ambitious high-energy businessman who is willing to learn from his/her mistakes and the mistakes of others will be a valuable asset to any team.
2. Secondly, (going along with being teachable) the entrepreneur must dedicate herself to learning. How much time do you spend each day learning new things? Are you reading the latest news, blogs, magazines, and books? If you do, this will help you to be experienced beyond your years.
   People often ask me if I am planning to attend graduate school and the response I give is: “I don’t know.” The reason that I will even consider not attending graduate school is because I am enjoying the every-day learning experiences that I am currently having. (the graduate school controversy is another topic entirely ). I imagine that if I come to a point in my entrepreneurial career that I am not constantly learning — I will go to graduate school.
3. A young entrepreneur must surround herself with experienced mentors. There is (almost) nothing that can replace experience. I am very grateful for the many mentors that give me help and advice on a daily basis — including, but not limited to the Junto Mentors, BYU Business Professors, Paul Allen, and each one of my brothers. One of the most appealing parts of Greg Warnock’s Junto Partners program is that he has put together an amazing group of experienced mentors in each area (legal, strategy, marketing, sales, etc.).
4. Finally, the entrepreneur must use their energy to their advantage. Sometimes the only thing that will cut it is good ol’ fashioned hard work!