What image comes to mind whenever you hear the word ‘Entrepreneur’? For many, it’s a guy in his 20s who is wearing a hoodie with blue jeans. This Mark Zuckerberg-esque idea of entrepreneurs often gets people questioning this: Have they passed the age of starting a business? Many of these individuals who think about this are either in their 30s or 40s. If you are among them then the answer is no! It is never too late to become an entrepreneur.
In fact, those who decide to launch a startup often become more successful as compared to the young wunderkinder. This is because they have years of experience that helps them steer their initiative in the right direction. Also, this is also one of the reasons why a staffing agency recruits such individuals so that their experience could help other businesses.
You Have the Experience
The first thing you need to know is that this vision of entrepreneurs being young is nothing but a stereotype. You would be surprised to know that a large number of people don’t launch their startup until they are 40. And some don’t even venture into their own business till they reach 50. And you know what, it is in fact a good idea to launch your startup a little later in life. Why? Well, because if you are a young individual who has just stepped into the business world then chances are that you know very little. You might as well be clueless about what you are doing. Moreover, you won’t be able to estimate your competition and will have less capital.
However, if you delve into the corporate world first then there are a lot of things that you learn. You will not only be able to communicate with investors but would also know about different business tactics. Plus, you would be saving some capital. You must have heard of a famous saying; People become wiser with age. This holds true for entrepreneurship. As you grow older, you would develop more wisdom that will help you make smart business decisions. With the years you spent in a corporate world, it would definitely pay off in a big way when you launch your own venture.
To explain this better, let’s look at the example of Ray Kroc. He used to sell paper cups and milkshake mixers till the age of 52 before founding McDonald’s. Then there is Mary Kay Ash who used to sell home goods and books until 42 before she founded the iconic cosmetic company, Mary Kay.
Your Ideas Become More Refined
Youngsters have plenty of time in their hands. They often use that to think of different ideas. But truth be told, most of them are not really that great. Plus, they also sometimes learn a skill like a website development. Then, they might think of fresh ideas to generate income from that particular skill. So, they might set up a website of their own and think that this is it. They have launched a new business. However, in reality, it takes much more to start a venture than just building a website.
But as you grow a bit older, you would become more knowledgeable. You will come to know of various business models. After that, you would be able to analyze which one goes with your idea the best. Also, your ideas will become more refined with age. This would allow you to think of a better business option that could give you a significant return.
More Focused Entrepreneur
While in your 20s, your mind is a melting pot of ideas. You may venture into different fields at the same time. Plus, you may try to start multiple businesses and fail. This is because your attention would be divided and you won’t be able to stay focused as an entrepreneur.
However, if you become an adult (let’s say somewhere between 30-40), you will be more focused. You would understand which of your ideas could work and which ones will not. You will also be able to stay dedicated to whichever project you start.
It’s true that with age, one may become unattractive and less fit. But it is not the looks that are needed for becoming a successful entrepreneur, it is the innovation! So, instead of age, you should emphasize the mindset. You may not be able to control your age but you surely have control over your decisions. Therefore, it is necessary for you to keep a positive attitude. This would influence the choices you make. Also, yes, Mark Zuckerberg was 19 when he founded Facebook. But do remember that Charles Flint was 62 when he launched IBM.