It seems that starting young is the best way to build a successful business, and today is more than ever. After all, when you are young, you have nothing to lose, no energy to spend, and because your life is in front of you, you can take the mistakes and learn from them. But starting from the ages is not bad. In fact, it turns out that for many people, it is even better to start younger than at the age of 50. Yes, you read it correctly.
Several outstanding examples
Some of the world's most famous and profitable companies are founded by entrepreneurs over the age of 50. When Raymond Crocker started selling McDonald's milkshakes in the United States at the age of 52, he began selling milkshakes. At the age of 55, pharmacist and doctor John Pemberton took "French wine" from his French wine coca recipe and found the famous Coke company in order to create a substitute for morphine. Colonel Harland David Sanders opened a small service station at the age of 65 and began working with franchise stores, and later became one of the world's best-known brands: KFC.
You can say, "That was the case at the time, but the situation has changed." To some extent, the situation has changed, because now it is easier for anyone to become an entrepreneur and entrepreneur than anyone else, which is why so many entrepreneurs start Young reason. But here are some facts that can motivate people over the age of 50 to start a business.
- Entrepreneurs over the age of 55 are almost twice as likely to create successful businesses as entrepreneurs aged 20 to 34. Even for the highly competitive technology industry, as they grew up on the Internet and the 21st century, they believe that young entrepreneurs have a good start. technology.
- In the past 10 years, the highest ratio of American entrepreneurial activities has been dominated by entrepreneurs aged 55 to 64. There are many reasons for this, including technology and modern life, new ways of retirement, strong professional connections, and the ability of almost anyone to do business.
- According to the 2004-2008 study of 5,000 startups conducted by the Kauffman Ewing Institute, surviving start-ups are more likely to be led by owners over 45 years of age. Less than 64% of surviving startups are led by old entrepreneurs.
- People over the age of 50 are more likely to create innovative companies, products and solutions. This sounds a bit surprising, but innovators will get better as they get older. Whether you want to create a startup in an industry you've worked in before, or want to re-start the passion of a new industry, the experience of over 50 can be a big advantage.
- People over the age of 55 are more likely than those under the age of 35 to start high-growth startups. In addition, this does not seem to be localized for specific industries, but it can be fully noted. Older entrepreneurs have the necessary experience, skills and insight to guide their venture capital success. They can better manage fears and expectations, balance them, and make sure that despite obstacles still exist.
Put all these interesting discoveries together and the message is simple: Age is not only an obstacle to becoming an entrepreneur, but being over 50 years old or age increases your chances of success. While this insight won't make creating your startup less easy, it won't eliminate the challenge, but it's a great incentive for you to ultimately create the business you've always wanted.
Orignal From: Why are entrepreneurs over 50 years old with high success rates?
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