How Old Are Successful Tech Entrepreneurs?
So what did Benjamin Jones from Kellog School learn form their study into the age and successes of tech founders? And are you surprised? Zucks might be…
1. Entrepreneurs over 40 are more successful. (:unsurprised-face:)
A 40-year-old is more than twice as likely to found a successful startup as a 25-year-old, and the average age for founders that ultimately had a successful exit is 46.7. These numbers aren’t surprising to us. It’s the experience of real-world problems and the lack of solutions that usually inspires our client founders. Also, the older a person is, the more likely she has seen others start, sustain, and fail in real businesses. So if you’re thinking it’s too late to start a tech business, think again.
2. Zuckerberg is wrong. Smarter beats longer.
Mark Zuckerberg (in)famously suggested younger is better. Now, not only is this ageist, it’s not true. Perhaps it’s the kids working them crazy kids’ hours – because they’re being taken advantage. The exaggerated promise of stock-options and riches is a form of exploitation. So long as the right attitude exists (never stop learning!), experience is a clear winner here, whether you’re in the trenches or not. (Side note: know when to be in the trenches, and when to delegate.)
3. Career success and financial stability allow calculated risk.
So the kids have gotten older, and your nest-egg is actually looking pretty good. You may have seen others take the plunge and win, or you simply realize that your current career is all work, with little to no job satisfaction. The worst-case scenario is that you have a great experience and an amazing story. Better still, you take more pride in every day and ultimately you create something of true value.
“Three Advance Takes” is a blog series where someone at 3Advance reads something interesting and we chime in with our opinion. We develop apps, but we also eat, sleep and breathe technology, believing that the more we know, the better we are. Drop us a line. We’d love to hear from you.