Let’s say you have an idea but everyone is telling you it can’t be done. What are you going to do about this situation? This experience might be motivation enough for you to try to one-up the naysayers.
Several of the greatest entrepreneurs and business owners realized that they wanted something more from life. Steve Jobs knew he was special. If you feel that way, too, then big things could come out of it.
Whether you’re a control freak or just don’t like being ordered around, you have determined you have always wanted to be the boss.
The economy hasn’t totally rebounded and your industry sector has a hiring freeze. Instead of waiting around or taking a job requiring fewer skills than you have, you are considering setting up your own business.
If you’re single or without young children, you probably don’t have to worry about supporting others. Take advantage of this time in your life when you have the chance to be a little adventurous.
If you sit in traffic every day muttering expletive after expletive, maybe you should set up your own business at home. After all, successful businesses have even launched from garages.
Maybe you just want to build your own team from the ground up with a group of people who share your vision and who are willing to embark on a journey with you.
You’ve been working on this one idea in your head for awhile now, and when you look around or talk to people you’ve noticed a growing need for people or the industry that you’re in. The time seems right…now. It wasn’t right 10 years ago, not even 5 and you don’t know how long this window of opportunity will be around for, so you know that it’s either now or never. The time has finally arrived.
There are a lot of theories about how old you “should” be to found a startup.
Some people say younger is better. You’re young and strong and can withstand lots of sleep deprivation and keep going. You’re more likely to take risks and less likely to quit (supposedly).
On the other hand, wisdom comes with age. The older you are, the better you know your industry, and likely more than one industry. You have strong connections and a lot of experience.
So which is it?
The facts clearly suggest one side over the other. According to studies out of Duke University, the Kauffman Foundation, the Founder Institute, and Northwestern, the average entrepreneur is actually 40 years old when launching his or her first startup–and the average age of leaders of high-growth startups is 45 years old.
That’s right: While tech publications are rife with stories of crazy-successful 22-year-old founders who become billionaires, the truth is that 40-somethings are much more likely to start companies–and succeed.
Adeo Ressi, founder of the Founder Institute, puts it succinctly: “The research shows that an older age is actually a better predictor of entrepreneurial success.”
So go ahead and launch that great idea you’ve been kicking around in your head. I was almost 40 when I first made the leap to go full time with my business.
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