Startupper over 40
Who tells that there is an age limit to start a business?
Someone asked me if, being 4x years old, is late to start a business and hope to be successful. While i listened him an images comes in my mind (Figure 1)
Figure 1: Limit that doesn’t exist
My answer was absolutely not and now i try to argument these opinion. I think that the age could be the first strength because you have :
- experience in some or many industries that is useful when you want to start something that is completely yours. It helps you to
- understand your customers because you have already worked for them. You can focus on how to improve practices learned to overachieve customer expectations. Moreover your previous habit to interact with customers will help you to reach new clients, understand their pains and satisfy them;
- understand what you have to do because you already did it (practice): your abilities and experiences will grow;
- knowledge and network with other people that could
- help you in your business as partner. Every investor knows that a well-structured team is a killer application for every business success. If you can rely on good relationship you have your first treasury to save and feed every day to permit your business to grow well and yourself to be satisfied;
- introduce you to its customers if your business is complementary with its. If someone that i trust introduce me someone else i can think to him a try on product and so the first carrier is down and you can show the validity of your product/service;
- help to reach your target (markets, countries, similar) where it has already worked or work today;
- give an high level of competence. Stats tell us that in the US 95% of startupper have a bachelor degree while 43% have continued studying after it. In Italy these percentages increase: 33,5% master degree, 32,9% master post degree and 5% Phd
- the safe madness to risk not as a beat or a temporary vogue but to be successful for your life and the life of your startup. You will continue working day by day to success and improve your ability to satisfy customers, update your knowledge to be always at the state of the art. This could help you to persuade investors (it’s not the only element but one of the most) to support you if your are looking for them;
These are all assets that a newbie or a younger startupper has to gain before be as competitive as you and on these roots you can build your business.
You have to decide which kind of business you want to start: family or not but your life will be completely involved in the new challenge and, moreover you will not be alone: if you look at Figure 2 you will see that 40 is an age that are living a peak in entrepreneurship and that is an age of maturity for businessmen.
Figure 2: Different level of enterpreneurship in the last years
Figure 3: Serial and first enterpreneur
These should give you the idea that you are not old and that your luggage of connections, experiences and knowledges is a big asset to show your customer to be successful. If you need other stimulus read here what some people as you tell about the value of your age and the possibility to be a startupper rich.
Originally published at www.bandwin.net on October 17, 2015.