Entrepreneurship - how old should you be when you start a business?

The age of a successful startup founder

In our minds when the term entrepreneur or startup founder is brought up, we subconsciously assume that they embody the youth. These could be due to numerous reasons as they are active in the pursuit of fundraising for startups (EquityMatch.co) or building connections and navigating through trial and error.

Yet, it has been found that most founders have begun their entrepreneurial journey at an average age of 45 years old. What does this mean? It simply translates to the fact that, even though the most successful entrepreneurs we currently know may have achieved unprecedented success, that success does not always extend to all young entrepreneurs. Nor should it be a generalized notion. As unicorns differ from the mass population, especially when it has been found that experienced individuals are likelier to succeed.

There exists an ongoing debate that if an individual were to begin their business at a younger age they are more likely to obtain success. Whereas the other opinion is that the older the individual is, the wiser there is which would ultimately lead to a fruitful endeavor. Despite this, being an entrepreneur is an exciting journey to begin.

So let us go on to explore the debate further and weigh both sides of the argument.

The effect of age

Theories of younger individuals being superior entrepreneurs over their older counterparts continuously are part of the discussion. For instance, it is common knowledge that to be an entrepreneur a certain level of commitment to the hustle is required. Which often involves a never-ending work cycle.

To be able to accomplish this an individual needs to have more time and energy to spend which is naturally attributed to the youth factor. Another theory illustrates that the thought processes of the youth could lead to new outcomes. This is because they are not held down by pre-existing notions which leads to radical innovation.

Yet with these two working theories, the question of success and age remains unanswered. Maybe, because it is common knowledge that an increase in age is linked with added benefits. Such as more connections, along with a deeper understanding of the economy and financial aspects.

All this ultimately attributes to the contribution brought forth by prior working experience, which are aspects that young entrepreneurs need continual assistance with.

Elements that influence the average age of startup founders

The success of a business can occur at any age of an entrepreneur, however, other factors influence that outcome. Some of these factors are the industrial sector, the need for the solution, funding, knowledge, experience, and mindset. These can play a significant aspect that ultimately leads to determining when a startup founder can begin.

For instance, you can be extremely wealthy by your twenties but are unable to generate a creative solution for an existing problem. Or, on the other hand, you as a younger individual may have an ideal solution but are lacking the funding to execute it until you’re in your thirties.

Concerning mindset, this, in particular, is key as the entrepreneurial mindset is what helps you get through all your ups and downs in your journey. Similarly, individuals that are in their 40s are found to have other hurdles in the manner of family responsibilities and other aspects which could result in the older generation being slightly reluctant to commit to achieving entrepreneurial success.

Changing perspectives

In the grand scheme of things, the concept of age does not matter as long as the individual is determined and motivated. Hence, the association of startup founders being of the youth should not be a predetermined expectation when investors seek to invest. This is simply because age does not come into play if the individual comprises all the qualities that you seek in an entrepreneur.

In addition, the older generation given the right support can build on solutions with their expertise. This could be due to more options being presented along with a boost in confidence. Further, the youth can be relieved of the pressure to succeed as deadlines and expectations may indirectly impact their thinking of establishing an age to be successful.

If these perspectives begin to change, this can lead to a more conscious society along with an improved balance in the startup community. Finally, skills and experiences can be shared intergenerationally resulting in innovative solutions.

Visit https://www.equitymatch.co/ to learn more about startups/investors/fundraising.

Malka Amarathunga is an entrepreneur, a content writer, and currently employed as the head of business development at www.equitymatch.co.As a content writer, she writes about startups and entrepreneurship.