In the news we always find stories of young people 25 and under who excel with their startup. However, a recent study found that the most successful entrepreneurs are not young adults.
A new investigation of Harvard Business Review revealed that The startup founders with the best chances of success are those who start their business at age 45.
The researchers of the HBR They rated factors such as whether the company received a venture capital investment, operates in a technology industry or was granted a patent.
The publication found that the entrepreneurial founders of the most resilient startups were just under 45 years old when they started their company.
“Middle-aged people take a lot more bites of the apple. However, when looking at success rates conditional on actually starting a business, the evidence against youth entrepreneurial success becomes even starker. Among those who have started a business, middle-aged entrepreneurs have a substantially higher success rate,” says the study from HBR.
Why are the most successful entrepreneurs over 40 years old?
The researchers of the HBR They explained that older entrepreneurs might have an advantage over younger founders because of work experience. For example, they found that those who had at least three years of work experience before founding their company were 85% more likely to launch a successful startup.
Despite the fact that the bulk of the startupers It is usually made up of people under 40 years of age, it must be remembered that many great founders became legends after that age.
For example:
- Harland Sanders: The founder of Kentucky Fried Chicken, he started his business selling fried chicken at age 65 after working several different jobs during his life.
- Ray Croc: The creator of the franchise concept for McDonald’s began working at the fast food chain at age 52 and acquired the company outright at age 59.
- Vera Wang: The famous designer began her fashion career at the age of 40 after working in fashion editing at Vogue.
- Charles Flint: The IBM creator started his iconic company at age 61.
These examples show that it is never too late to pursue your dreams and succeed in your business. Often the experience and wisdom gained over the years can be an asset to older entrepreneurs.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.