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Entrepreneurs: Older is Better

by Miki Saxon

http://www.flickr.com/photos/moonlightbulb/4871952762/

Yet another study validates what many of us who work around entrepreneurs believe, i.e., startups aren’t just the province of the young.

That’s right; experience matters.

The best entrepreneurs are ones who work in their field first, gaining valuable real-world knowledge and experience for a decade or more. (We heard exactly the same thing from Google’s startup acquisition guy).

Every year of life improves an entrepreneur’s chances up until 40, but they don’t diminish thereafter.

What else is needed?

You need to be open-minded, flexible, able to pivot in a heartbeat. You need to be agreeable… You don’t need IQ as it is traditionally measured; you do need the ability to recognize patterns.

And only enough ego to avoid being trampled.

Older entrepreneurs have an advantage because they’ve

  • know they are entitled to nothing;
  • failed and lived through it;
  • seen a variety of economies up, down and around;
  • recognize that great ideas come from all types and all levels;
  • can recognize and a**hole from a mile away;
  • won’t sacrifice the culture no matter how good s/he is; and, finally,
  • they know that good or bad this, too, will pass.

Hat tip to EMANIO‘s KG Charles-Harris for sending me the link.

Flickr image credit: Selena N. B. H.

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One Response to “Entrepreneurs: Older is Better”
  1. MAPping Company Success Says:

    [...] this year I cited a study that demonstrates the value of experience for entrepreneurs, something in short supply if you are a twentysomething starting a company in [...]

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