There’s a lot of focus on people who start their own businesses in college, but many successful entrepreneurs start their own businesses after years of work experience.
If you consider this statement, one can easily see that it has both a negative and positive side like a coin that has two sides. If you are over 40 and you are yet to start your business, there is still time. Chances are, if you’ve worked a while in any organization/enterprise, you must have learnt a thing or two about life and business that will be helpful.
Whenever you hear the word “Entrepreneur”, what comes to your mind? ‘People who do business, people who bring the business, people who don’t work under somebody, people who want to work on their own terms’. This may sound very simple to you but not simple while working. It’s a huge responsibility to run a business successfully.
You have an edge (Experience & Finance)
What you need to know is that the vision of becoming an entrepreneur at a young age is nothing but just a metal picture. A large number of people don’t venture into their own business unless they are at least 40. Some people don’t even think about starting their own business until they are 50, about retiring and have years of experience.
When you are young and venture into a business you know nothing about, there is always room for failure, because you don’t have any experience, you cannot estimate competition, little or no capital and you are naïve.
When you step into the corporate world as a fresher, there are numerous things you learn. You learn various business tactics, and most importantly, you save up your capital. There is a saying that people become wiser with age. With your years of experience in the corporate world, you set a solid ground and make a place for yourself.
People in their 20s have so many business ideas and vision and end up entering into so many businesses at the same time. They Try several business ideas and fail at several too.
When you often start-up in your 30s or 40s, you become more focused. You understand clearly the ideas/products that will have potential in the market and the ones which won’t.
Age is just a number
With age, we do become less good looking and less fit. But as an entrepreneur, it is not the looks that matter. It is the innovation/Ideas that do.
It is your attitude/ mindset that determine the choices you make, not your age. One cannot control his or her age but your decisions, you can.
Imagine yourself in your mid-30s, sitting comfortable in your office and wondering “What if I had started my business”. You might dismiss the thought thinking “It’s too late for me now”. This is where you are wrong. It is never too late.
When you go for a business conference/seminar, you might feel like the odd man in a room full of young entrepreneurs. Do you know you are at advantage; it’s usually the outcasts that stand out and turn.
Leverage on Your Past to Build a Wide Network
The network you’ve built while working for organizations and the essential entrepreneurial basics you’ve picked up while working on your career will serve you in good stead. When it’s time to start your business the professional relationship/contact you have built while working in the professional world gives you an edge. Young entrepreneurs have to struggle a lot in this area. They have to put in a lot of effort to meet even the smallest of investors. You will also be better equipped to deal with the everyday challenges of running a business with your in-depth industry knowledge and a keen eye to work on sectors that can be better serviced by your business.
You need to think again!
There is no doubt that there are several young successful entrepreneurs, but If you’re an older entrepreneur, don’t buy into the stereotypes of successful startup founders. Where you might lack in youthful energy, you make up in experience networks, and probably financial resources for success. So if you are planning on giving up on your dream of becoming a successful entrepreneur just because of your age, it might be time to think again.