Silicon Valley's ideal entrepreneur is about 20 years too young, research shows
There is a powerful new study about entrepreneurship with great implications for the economy and those of us in the second half of life.
"A new study found the average founder of the fastest growing tech startups was about 45-years-old — and 50-year-old entrepreneurs were about twice as likely to have a runaway business success as their 30-year-old counterparts."
"The new study by Jones, Javier Miranda of the U.S. Census Bureau and MIT's Pierre Azoulay and J. Daniel Kim, looked at an expansive dataset and found the most successful entrepreneurs are middle-aged.
"Take David Duffield, who founded Workday in 2005 at the ripe age of 65. Workday went public in 2012 and today has a $26.47 billion market cap. Whereas younger founders may benefit from their creative thinking and lesser degree of entrenchment in an industry, the exact opposite qualities work to the benefit of their older counterparts."
"Older entrepreneurs have had years to build their business, leadership, and problem-solving skills, as well as to accumulate the social and financial capital needed to get a startup off the ground. Jones also points out that even companies like Apple and Microsoft that were founded by exceptional young entrepreneurs didn't achieve their most rapid market capitalization growth until later, when their founders were older. The iPhone entered the market when Steve Jobs was in his 50s"
There are almost endless opportunities for older entrepreneurs to meet business and community challenges with innovative entrepreneurial solutions. Take hold of this option. Give yourself permission to explore, then plan, then take action. The world needs you, and the challenge will make you stronger.
Link to the CNBC article quoted above
"A new study found the average founder of the fastest growing tech startups was about 45-years-old — and 50-year-old entrepreneurs were about twice as likely to have a runaway business success as their 30-year-old counterparts."
"The new study by Jones, Javier Miranda of the U.S. Census Bureau and MIT's Pierre Azoulay and J. Daniel Kim, looked at an expansive dataset and found the most successful entrepreneurs are middle-aged.
"Take David Duffield, who founded Workday in 2005 at the ripe age of 65. Workday went public in 2012 and today has a $26.47 billion market cap. Whereas younger founders may benefit from their creative thinking and lesser degree of entrenchment in an industry, the exact opposite qualities work to the benefit of their older counterparts."
"Older entrepreneurs have had years to build their business, leadership, and problem-solving skills, as well as to accumulate the social and financial capital needed to get a startup off the ground. Jones also points out that even companies like Apple and Microsoft that were founded by exceptional young entrepreneurs didn't achieve their most rapid market capitalization growth until later, when their founders were older. The iPhone entered the market when Steve Jobs was in his 50s"
There are almost endless opportunities for older entrepreneurs to meet business and community challenges with innovative entrepreneurial solutions. Take hold of this option. Give yourself permission to explore, then plan, then take action. The world needs you, and the challenge will make you stronger.
Link to the CNBC article quoted above
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