When is the ideal age to start a business? Older than you think!
A study of 2.7 Million startups found the ideal age to start a business. Would you have guessed that it is being in your 40s or 50s? Maybe not. According to the paper, it's actually the perfect time.
A recent study conducted by the Census Bureau and two MIT professors found the most successful entrepreneurs tend to be middle-aged--even in the tech sector. The researchers compiled a list of 2.7 million company founders who hired at least one employee between 2007 and 2014. The average startup founder was 45 years old when he or she founded the most successful tech companies.
Generally speaking, a 50-year-old entrepreneur is almost twice as likely to start an extremely successful company as a 30-year-old.
Ideas are important but execution is key
There are lots of reasons but the key factor is the difference between ideas and execution.
Great ideas are often the starting point of a business. For making it grow and successful, it is essential to have the right strategy - and then the right tactics to make it happen.
Developing a strategy and execute it with perseverance is a lot easier if you have some experience. This is true for the endless number of decisions that have to be taken every day.
And that's especially true where leadership experience is concerned.
The best way is to believe in yourself, to work hard and to hold on!
Science proves that your experience, your skills, your connections, your expertise, and yes, your age, are on your side.
So, no matter if you are in your 40s, 50s or 60s and want to start a business - just do it!
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