Which is the right time to start a business?
This question has invited a lot of debate. Experts have argued and discussed this for years together without coming to a conclusion. Some believe that experience comes handy while others believe that starting a business early on, when you are bubbling with energy and great ideas, is ideal.
A recent study found that there are plenty of entrepreneurs who started off after 35. This shows that 35 is not the deadline for entrepreneurship. Since there are many startups with young founders [some as young as 20 and 23], people have started believing that starting early will help you succeed because you will have more time to work on your business and to ensure its growth. How can you forget big names such as the founder of Craigslist? Craig Newmark is 42 years old and his business is booming. However, there are also successful startups from founders who just came out of school.
In the study, it was also revealed that the number of founders in the age group 24 to 35 has actually dropped in the recent years to a mere 16 percent. This shows that starting early comes with its risks and adversity. But again, isn’t entrepreneurship rife with risks? What has age got to do with it? Not much.
The debate will go on and on, and people should remember that there is no particular age, which can be dubbed as the ‘right age’ to start. A majority said until now that 25 was the right age. That has been proven wrong in this study. The percentage of young founders has declined and there are plenty of successful ‘older’ entrepreneurs.
In my opinion, age is just a number. Whether you establish a business right after school or whether you do it in your 40s, it is your leadership and planning that will determine how far you go. Of course, youngsters may need to put in some extra effort to make up for the lack of experience but older entrepreneurs will need to put in just as much effort to bring in the same enthusiasm and innovative ideas as youngsters. The beam is evenly balanced and this shows that age is nothing but a mere number. The ‘right’ age to start is when you are ready.
Don’t let the debate about age waver your plan. If you know you are ready, you should make a move regardless of how young you are. Likewise, if you are not confident enough, you should wait and work some more regardless of how old you are. Don’t give the age factor too much importance.