Thinking of creating a business?

by | Career

Did you know the average age of a successful start-up founder is 45?Whilst Mark Zuckerberg, Bill Gates and Steve Jobs were all in their early twenties when they created their business, research of US business founders found the average age of creating a new business to be 42. But new business is not necessarily going to be a world-renowned organisation, it can include small businesses run by owner managers.

With more traditional start-ups, such as software companies are founded by people with an average age of 40, in other industries (oil, gas, biotech) the age is closer to 50. Starting a business at this age is also more likely to result in a successful business.

This later life success could be down to experience, which can help us succeed particularly when related to the business we seek to create. With younger founders they often become more successful with age. Jeff Bezos of Amazon fame moved to a much broader range of services as he reached his mid-40s and Steve Jobs was 52 when the iPhone was launched.

So, don’t let your age constrain you if you are Thinking of creating a business?

Now could be the perfect time to create a business. Look back on your career and see if you could create a business related to this. It could be a service business such as consultancy, but you could also think of a product to create.

A product could relate to a hobby or interest. You probably don’t need a bricks and mortar shop; you can sell online.
You can also start small with a side hustle. A great resource for this is Side Hustle School a great website, and book created by Chris Guillebeau

There is an interesting article on this topic via Harvard Business Review and you can access it here.

Thinking of creating a business? Would you like to discuss how to start your own business? It’s an area I can help with. I’m noted for my idea generation and creativity and mainly have far more ideas than I need, so love developing ideas with others. You can contact me using this contact form.

As always, I’d love to hear your comments, and you can make a note on my blog.

Image by Gerd Altmann from Pixabay

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Denise Taylor

Chief Inspiration Officer, The 50 Plus Coach.