When you think about entrepreneurs today, who comes to mind? Young Bill Gates, Mark Zuckerberg, Biz Stone? Perhaps Larry Page and Sergey Brin? Young "kids" that barely graduated from college... right?
Think again! The average age for an entrepreneur is 40, and nearly 75% of have worked at another company for 6+ years. Most (again 75%) are married (or divorced), and have at least one child. Surprised? Most likely you are within the demographic for being a business owner / entrepreneur.
A detailed study ("The Anatomy of an Entrepreneur - Family Background and Motivation"), reveals a wealth of statistics that should encourage anyone over the age of 40 to consider living their entrepreneurial dream. In fact, the economy depends on new businesses to fuel growth. And the internet helps us to even out the playing field; so there are many factors that weigh in your favor. And of course, a few that may stack against you (we will discuss these in a future article). But don't be discouraged!
We at Cross Sea Strategy Advisors have long felt that our experience provides us with unique advantages when creating a business. We look back at some of our best and worst managers, best/worst companies and can use this experience to make us better executives. We understand (and expect) high levels of customer service and are frustrated by poorly designed products. Some of us have the capital behind us to leap into the unknown; or we just feel the gravitational pull towards being our own boss. Our message; you are never too old to start your own business.
We can continue to cite more interesting statistics that support our viewpoint, however instead, click over and read their study. However... we will share one last very important statistic.
Only 4.5% started their own business because they were unable to find traditional employment.
We absolutely believe you should create a business based on your passion, your excitement for bringing to market a great idea. Not because you faced defeat and frustration in seeking employment. Starting a business based on a positive mindset will help tilt the balance towards success over failure.