It’s understandable to assume that all startups are founded by young guys in hoodies, working out of their parent’s garage, with takeout containers surrounding their workspace. This is the image we usually see in movies, on TV and even in the photos of some successful business giants showing off their humble beginnings. The truth is, this is only sometimes the case. Yes, there are plenty of businesses that started with just a couple of young undergrads at the helm, but the startup landscape has changed. Anyone can form a successful startup, and here are a few reasons why being an older startup founder can be a major benefit.
You Have Life Experience
As someone who has likely held multiple jobs throughout the years, you have seen what works in a company and what doesn’t. You’ve probably witnessed the good, the bad and the ugly in terms of company culture. You may have even worked for some startups and saw what drove their success or led to their demise. This is information that can only be gleaned from experience, and it will give you a leg up as you start your own company.
You’ve Made Connections
As humans, our personal networks expand at an exponential rate as we get older. This isn’t to say that a young college kid has no connections, they most certainly do. However, in your years on Earth, you’ve undoubtedly made more connections, and made them across all walks of life, in various industries. These connections will come in handy as you are looking for focus groups, investors and even potential clients.
You Have More Money
Another thing we accrue during our time on the planet, hopefully, is money. Securing funding from investors is important as you form your startup, but the benefit of being a bit older is that you’ve likely built up a nice amount of savings. This money could be invested into your new business, or just hold you over to pay the bills before your startup is profitable. Either way, it’s helpful to have a financial buffer.
If you have been thinking about jumping into the world of startups, do not let your age deter you, whatever it may be. While you may hear about the young startup success stories more often, remember that experience is invaluable. Enter into this exciting world with confidence and determination, backed by your years of experience, and success will be yours.