There should also be the passion and adventure for the business. For processing these characteristics, one need to be smart, efficient, have charismatic personality and should be a responsible person. These characteristics can be possessed by any person, irrespective of his/her age. Thus you might be 20 or 50; age is never a question of becoming a successful entrepreneur.
However, for many decades there has been a discussion by many pundits about the ideal age for being a successful entrepreneur Like Jignesh Barasara. There have been many researches and according to the collective results of Kauffman Foundation, Duke University and the Founder Institute, the average age for running a successful start-up is 40. They have also come out with the results that people over the age of 55 and below 35 are less likely to run a business successfully. But let us look at some of the most successful business ventures and the age of their owners, when they started their business; Facebook (20), Microsoft (20), Apple (21), Google (25), Twitter (30), Amazon (30), Tesla (34), Oracle (35), Netflix (37), Zynga (41), Walmart (44) and McDonald’s (53).
This fact shown above suggests one thing for sure; age cannot be the detrimental factor for entrepreneurial success. Guys with more age have the experience factor with them which can surely make them successful. On the other hand, young guys have modern outlook, knowledge of the latest trends of market and are well versed with newly invented technologies which also can make them successful entrepreneur.
When to Ideally Start Your Business
Even though, age can never be the factor to start your dream business, there is a “perfect time” when you can ideally give a kick start to your business. That “perfect time” is nothing but attaining maturity. The time you are mature enough to think of a business idea and make strategic plans and efforts to turn the idea into reality; it is the perfect time to start off your business.
Regardless of your age, you should posses certain attributes to become successful entrepreneur in your life. Some of them are-
- Constantly coming up with creative business ideas
- Looking for every possible way to promote your business
- Always taking up challenges as a businessman
- Knowing the composition of when to be aggressive and when to be defensive while making a business plan
- Always thinking of doubling and tripling of your investments and profits
This is not the entire list of attributes but certainly contains the most effective ways to become a successful entrepreneur.
Age is therefore just a number for an entrepreneur. A fearless attitude, aggressive mind, the passion for work and a realistic thinking is what makes a successful entrepreneur.