Date: 19 Jul, 2021
Almost everyone wants to create something unique for the market, live a life full of exciting happenings, get their names penned down in the Forbes list and relish the unmatched success, but one thing that leaves most of the most of the wanna-be entrepreneurs scratching their head about is the question, “30’s, 40’s or 50’s? What’s the perfect age to let your idea rule the market?”
We admire the entrepreneurial spirit that resides in you and we’re here to let you figure out the answer.
Let’s just put it out there; there is no ‘right age’ to go all-in on your dream startup. From a 19-year-old college dropout changing the social media scene forever to a 50-year-old crushing it with its unique ideas, we’ve seen it all. There’s never a right age, there’s pros and cons to every age and understanding it can help you take the right decisions for yourselves.
Social media is the sweet devil that has built these fetishes of the ‘young achievers’ around us. Our feed is full of people who have made billions at an age where most people are confused about what to do with their life. This pushes many of the young blood to take an uncalculated risk and land up in situations that sometimes take a lifetime to recover from.
The young entrepreneurial fetish is far away from the truth. A study of 27 lakh startups busted the myths around the right age to create your own dream business. The study showed that middle-aged startup founders in their 30s and 40s tend to be far more successful than founders in their 20s. In fact, the average age of a successful startup founder was found to be 45 years. Even with us at Rockstud Capital, all of the companies that we have invested in have founders between the age of 30 and 40.
There’s plenty of reason why the stats make sense. With age comes experience and with experience comes the ability to take the right decisions, manage teams effectively and handle a crisis situation with ease when it knocks on your door. Even the investors who look for startups to invest in considers the abilities and experience a founder has before putting their money on the idea. Age is also a factor that brings about the difference between ideas and execution, which is the major ground-breaker. Ideas are great but without execution, it amounts to nothing.
Different age groups have certain attributes attached to them for example let’s take the example of the 20s. This is an age that is characterised by uncertainty about what to with life and career and with education loans to be paid back. This doesn’t allow someone to take that leap of faith because of all the strings attached.
The late 20s and Mid 30s are a hand of responsibilities dealt to us. Marriage, children and mortgages are something that takes the major priority and thus it becomes a little hard to take risks in doing something that does not guarantee success.
The late 30s and 40s, on the other hand, represents an attractive combination of financial security and business experience. When you work intensively in an organisation during your 20s and 30s and learn the various aspects that go into running a successful business, you get a somewhat clear idea of what lies ahead on the road to startup. Thus, these age groups practically gets a higher chance of being successful considering all the practicality and situations that life throws at us.
To build a successful startup, age might be a big factor as education, experience, opportunity, network and funding all gives an edge to founders in the mid-30s and 40s to have a better chance at success. But in a game where strategy and execution also plays a vital role, you never know what shot is going to get you ahead of the curve. So, keep taking small risks and always believe in your vision. To know more about us, visit www.rockstudcap.com
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