Is there any optimum age for being successful entrepreneur? What are positive and negative consequences of late startup?
I think. You can start new venture any time.It doesn't depend on age and it's all about the determination and preparation.But before middle age is always preferable.
start when you are ready: i think it is more a question of when the person has developed adequate business acumen/ experience and skills - this is what will determine success.
entrepreneurs grow and develop too. starting a business may be one (perhaps painful) way to grow and develop
It is a myth that Entrepreneurs has to be Young and energetic. We have living examples in Oman who have started their ventures in late 40s. So age is no bar to start a venture.
Its not about age, I think. It is about idea that can bring fruits! However, age sometimes matter in the selection of types of business.
There is no minimum nor maximum age for one to venture into entrepreneurial activities. However, having said that, I recommend early engagement in entrepreneurship for the following reasons;
(i) Increases chances of success
(ii) Learn from own past failures and mistakes- there is an opportunity to try again
(iii) One gains momentum and would be up to speed over the years
Thus the above reasons are reduced with late start-ups.
Let's discuss further ([email protected])
There is no agefor starting an enterprise. Having said that, I would certainly agee with the dichotomy of enthusiasm and experience. One needs to be knowledgable in his/her domain but need not go on waiting to acquire sufficient knowledge. It should be like jumping in the pool and learning swiming rather than learning first and then entering the pool.
My personal hypothesis, though I would add that this is a personal inference, based on experiences and observations, is that men of a certain age (between 16 and 23) have certain chemical growth, possibly hormonal, which makes such ventures more likely due to the lack of a fear of failure, provided certain environmental conditions are met - assuming all other factors remain constant (access to knowhow, capital, expertise and demand).
This is yet to be tested of course, but I do think that's the ideal age to begin something new and exciting. When you're older (as my age currently), you tend to consolidate lessons learnt and are much more wiser in a way.
Late startups - or early, whatever your definitions, do not matter as all startups begin within colossal losses. It is just a matter of you having the financial depth to withstand this until you break even.
It doesn't really matter, if you break even and turn in profits eventually, as long as this revenue injection is sustainable until you're able to consolidate and diversify...
Hope this helps.
The hypothesis that persons of age between 16 and 23 have certain hormonal growth, which makes such ventures more likely due to the lack of a fear of failure seems interesting. It needs to be researched. It may, however be noted, that the harmon seceration at this age could be created even in later ages through the injection of same external hormone making the age irrelevant.
The success of an entreprenur is dependent on passion, creativity, innovativeness, competitiveness and able to adapt to a dynamic environment. There is no minumum and maximum age to venture into entrepreneurship activity.
Advantages of late start:
(i) Increased chances of success because of the experience
(ii) Lessons from past failures and mistakes at the place of employment
(iii) Network of friends from business
Disadvantages of late start:
(i) Chances of success diminishes because of less energy and lesser time available
(ii) Difficulty in addressing failures and mistakes with lower level of confidence
(iii) Sluggishness in adopting new technologies
I think that there is no optimal age for entrepreneuring.
different forms of entrepreneurshio can exist: babypreneurs, kidpreneurs, senior entrepreneurs...
Maybe individuals within the class of 35-45 years old are the more probable to start new businesses because they believe that they can start before it becomes too late.
- Badges
- Science topic
- Similar topics
- Geoscience
- Asia
- India