Are you too Old or Young to be an Entrepreneur?

Younger people often assume that most entrepreneurs start at a young age, like Mark Zuckerberg, a Harvard dropout who established a multi-billion dollar company. However, the truth is that entrepreneurs tend to be older than we think. A 2018 article from Inc. shared a study that found the average age of a first-time entrepreneur is 40 years old. Moreover, they found that older individuals are more likely to start a business and succeed.

So, what’s the answer? Is there an age that is too young or too old to become an entrepreneur? Here’s my take on the subject:

There Is No Ideal Age

In my experience, age does not determine whether someone will be a good or bad entrepreneur. I’ve met brilliant first-time business owners of all ages, both young and older.

The public generally perceives young people as more likely to quickly adapt to rising market trends. Conversely, older individuals are often viewed as having more industry experience, knowledge, and connections to implement their business plans.

While both perspectives have some merit, they ultimately fall into the realm of stereotypes. Unfortunately, ageism can discourage people from pursuing their entrepreneurial dreams. But based on my 18 years of experience and conversations with numerous business leaders, I can confidently say that there is no magic number for being a successful entrepreneur. It’s more than just a number.

Life Responsibilities & Entrepreneurship

I firmly believe that age is just a number; what truly matters is your mentality—your attitude, confidence, and willingness to learn from experts. However, personal life responsibilities undeniably impact your ability to become a successful entrepreneur. For instance, consider someone starting a business for the first time at 45 with three children. Can they truly give their full effort and accept the risks that their entrepreneurial choices may impose on their dependents? Probably not. The same consideration applies to a 22-year-old father.

If you’re contemplating entrepreneurship, ignore the stereotypes and focus on what drives you. Specifically, concentrate on your “why.”

Why Do You Want To Become An Entrepreneur?

Is it a desire for flexibility? The wish to be your own boss? A drive to innovate? Or the motivation to make a difference because you believe you can outperform the competition? Whatever your reasons may be, keep them at the forefront of your mind every single day. Use them as fuel, and never allow age or discouraging remarks to derail you from your entrepreneurial dreams. Good luck!