Have you ever wondered what to be an entrepreneur when you are old in your 40s or 50s like? Many people directly think about lack of passion, outdated knowledge and skills, and health problems that always prevent you from doing more. However, this is not true.
The modern business industry is full of young, ambitious innovators who transform our world and lead the world to a better future. Or at least many people think so. When someone hears the word “entrepreneur”, he automatically imagines a role model like Mark Zuckerberg. Young, ambitious, and innovative. Have you started to doubt your dream to be an entrepreneur when you are old? How can you stand against the power of youth?
Well, the reality is that this battle isn’t lost until you try. But when you let stereotypes and prejudices take over your mindset, you lose. Mature entrepreneurs have more competitive advantages. They have deep professional expertise, more connections, and capital. Let’s take a closer look at facts and statistics.
Look at the Real-Life Examples of Mature Entrepreneurs
Are you ready to be an entrepreneur and start your business if you are older than 30? You still want to say no and make up a dozen excuses? We know, you truly believe that all of them are real unbearable barriers that will lead to failure. Truth be told, business is always a risk, regarding the age.
If you need proof to be sure that age is just a number, take a look at statistics. Studies prove that middle-aged men have more chances of launching a successful enterprise. Especially if they have worked in the field previously. Moving further, the average age of a person who starts a company and hires at least one employee is 42.
What do the data mean? People who have past the verge of the 30s are active participants of the business industry. Moreover, they are proved to be more successful. By the way, this is relevant even for innovative spheres like IT. According to the study by Northwestern, MIT, and Census Bureau, the average age of founders in consumer-facing high-tech industries is somewhere in the early forties.
To provide further proof, let’s turn to real-life examples. We bet you have already heard about their success. Here they are:
- Famous fashion designer Vera Wang started to design clothes professionally at 39.
- Reed Hastings launched Netflix DVD rental at the age of 37. He began streaming ten years later, at 47.
- The founder of McDonald’s Ray Kroc was selling milkshake mixers and paper cups until 52 when he became an entrepreneur.
- The founder of ZARA Amancio Ortega launched the brand after 30. Before this, he worked as a short shop helper.
- Mary Kay Ash started a famous beauty brand Mary Kay around 45 years old.
All these brands are super famous and successful today. Their founders find themselves wealthy and popular. That’s a role model to follow!
Reasons to Be an entrepreneur when you are old in 30s, 40s, and even 50s
When you want to be an entrepreneur when you are old, you must work out a reasonable, preferable data-based approach to making decisions. That’s why when considering why not to be an entrepreneur, look at your competitive advantages over a younger generation.
You Are More Focused
No one can deny that young people have a million ideas flying around in their heads. They want to try them all. And they usually do and end up with failures. When you are older, you can set priorities and focus on one thing. You know what you want and where you go.
You Have a Deep Expertise
You have years of working experience. You know how the world is working and how to survive in it. So, probably when thinking about how to be an entrepreneur in US, you already know the answer.
Your Social Skills Are Well-Developed
Business is all about negotiation. You will meet many different people. When you are older, you know how to speak and deliver your ideas clearly. You can even be professionals at guiding others to make particular decisions.
You Can See Through People
Business is the ocean full of sharks. Young startups are usually blinded by the idea of being successful. That’s why they don’t think others can use them. When you have crossed the edge of the 30s, 40s, you can detect who isn’t worth dealing with.
You Have Capital
Funding is crucial. However, finding investors may be hard. When you are older, you have already accumulated some resources. They can become a starting point. You don’t need to depend on others.
Your Valuable Connections Help to Run Business
Connections are the third power of a successful business. They help to run your company more smoothly. You know where to find investors or who to ask about commercial awnings in Brooklyn. This can facilitate the process of setting up a business. You will spend less time finding the right people to deal with.
You Have a Different Mindset, Comparing to a Young Generation
The young generation doesn’t think about what skills needed to be an entrepreneur. They can be good at making websites and be sure that this is enough to set up a successful business. As a more mature business owner, you understand that you have to analyze the whole range of aspects.
You shouldn’t ask yourself, “Are you born to be an entrepreneur?”. You should consider whether you have an idea worth investing in. All the other doesn’t matter. Your persistence is key. You shouldn’t let stereotypes prevent you from achieving your dreams.
What is the best advice for a middle-aged businessman who doubts himself? Find a mentor or a role model. It can be someone from your circle who prospers in business. If you don’t have such a person, look at famous examples. Maturity is an advantage in business. You have valuable knowledge, connections, and capital.
How do you think, “Can you learn to be an entrepreneur when you are old?” Share your ideas in the comments!