Is Age a Factor When Starting Your Business?
December 6, 2022
How does age factor into starting your business?
- Creativity
- Experience
- Risk-taking
- Other responsibilities
- Resilience
Too often you hear the words “I’m too old to start a business” or “Starting a business is for the young.” Many people believe this notion, but is there truth behind it?
In this article, I’ve compiled opinions from young professionals who started their businesses early and older fellows who had a late start in the business world. I’ll tell you what I think of each of them. By the end of the article, we can decide: what is the best age to start a business?
Creativity
It’s often thought that younger people are more creative. To many, the youth have more ideas and come up with better solutions to the world’s problems. However, it may just show how this generation is more in-tune with the world they grew up in.
This is not something for older businessmen to worry about. They’ve had more time to adapt and accept change in the world, an important lesson in both life and business.
Experience
People say experience comes with age. That may be true, but the learning doesn’t come from your experience alone. Being mentors and examples to younger businessmen are also acceptable ways to understand the business landscape.
It also allows the younger generation of businessmen to be just as adept as those who came before them.
Risk-taking
Risk-taking is one of the most important business skills, but it does not come easy to many. It can be argued that younger people are more willing to take risks and give their all, but it’s more a question of having “nothing to lose.” If you ask me, risk-taking is possible for anyone with the grit and guts to do it — no matter their age.
Other responsibilities
When you ask someone why they choose not to start a business, many say they have too much on their plate. That’s a fair line of reasoning, but it doesn’t necessarily come from any specific age group.
The reality is that we’re all busy, and the world is full of responsibilities. A lot of the time, we wear mixed hats and have duties to multiple people. It boils down to how you work and manage your time, regardless of age.
The key to overcoming this is a conscious effort to make a decision. If you want your business to fly, having other responsibilities isn’t an excuse.
Resilience
Do young people have more resilience? Well, they can certainly be stubborn when they want to be. Do older people adapt better to change? Well, they’ve likely had to adapt to it more times than they can count.
Stubbornness and flexibility come together despite their opposing definitions when talking about resilience. It is the ability to recover. It combines adaptability, openness to change, and a firm resolve not to give up. This more than anything is what defines a businessperson, making it the key to starting a business at any age.
Key Takeaway
So what’s the verdict? Is age a factor to start a business?
This is my answer: it doesn’t matter when you start, as long as you start and keep going. Taking on challenges, believing in yourself, and pushing forward are values that apply to all ages. The next time you think you’re “too old” or “too young” to go into business, consider these words.
For more business tips and insights, check out the rest of my blog. If you have further questions about business and entrepreneurship, you can also contact me here.