Many of us would like to own our own businesses but few of us know how to go about doing it. While we may have some idea, the uncertainties make going out into the market an intimidating task. Fortunately for us we have others that we can look to for advice and inspiration; we do not need to make our own mistakes if we can learn from and gain experience from others.
Michael Hagele is something of a poster child for the value of experience. In a recent interview he shared many of his tips for gaining experience as well as staying sharp in business.
Most notably, Michael Hagele gained most of his experience as an investor. By investing in high technology companies he was able to quickly get a feel for many different environments and management styles. He is able to see just what works and what does not, all while not being completely locked into the business. As an investor you can be on the outside looking in, which provides a greater degree of versatility. For more updates, Follow Michael on Medium
Another important piece of advice is to follow the reports put out to investors. These reports are available even if you are not currently invested in the company. These reports can provide a great deal of insight into what strengths and struggles diverse companies can have, even if they all share the same industry or compete against one another.
From here, Michael Hagele recommends daily exercise and fitness. There a proven scientific link between physical activity and mental activity, meaning a physically stimulating mid-day break can also be a mentally stimulating mid-day break. He finds that some of his best insights and approaches to client issues occur during these times. This fresh outlook is critical to his success in corporate council, which otherwise would have gone missed if he had been simply grinding through the day waiting for it to end.
All in all experience in business can come from your own hard work or the hard work of others. The information detailing the work done by others is abundant and freely available, and it should be a focus for any entrepreneur looking to gain an edge in their respective industry.