What is the Right Age to Start a Business?

What is the Right Age to Start a Business?

Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies

Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies

For the people selected by Inc. magazine as the founders of the fastest-growing startups in 2015, the average age at founding was only 29

For the people selected by Inc. magazine as the founders of the fastest-growing startups in 2015, the average age at founding was only 29

29

29

Consistent with these findings, Paul Graham, a cofounder of Y Combinator, once quipped that “the cutoff in investors’ heads is 32… After 32, they start to be a little sceptical

Consistent with these findings, Paul Graham, a cofounder of Y Combinator, once quipped that “the cutoff in investors’ heads is 32… After 32, they start to be a little sceptical

32

32

According to confidential administrative data sets from the U.S. Census Bureau, the average age of entrepreneurs at the time they founded their companies is 42

According to confidential administrative data sets from the U.S. Census Bureau, the average age of entrepreneurs at the time they founded their companies is 42

42

In software startups, the average age is 40, and younger founders aren’t uncommon

In software startups, the average age is 40, and younger founders aren’t uncommon

40

40

Young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47

Young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47

47

47

Among the top 0.1% of startups based on growth in their first five years, the founders started their companies, on average, when they were 45 years old

Among the top 0.1% of startups based on growth in their first five years, the founders started their companies, on average, when they were 45 years old

45

45

When you look at most successful firms, the average founder age goes up, not down

When you look at most successful firms, the average founder age goes up, not down

Overall, the empirical evidence shows that successful entrepreneurs tend to be middle-aged, not young

Overall, the empirical evidence shows that successful entrepreneurs tend to be middle-aged, not young

Source: Harvard Business Review

Source: Harvard Business Review

Image: Pexels

Image: Pexels