The average age of starting a business is now in the mid-20s, with the oldest being 66. If you start your company at 29 or later and have found success, then it’s safe to say that maybe it was never too late after all!
The “is it too late to study at 30” is a question that many people ask themselves. As you get older, you might be wondering if there is still time for you to start your own business or career.
A Quora user submitted this week’s Startup Monday question. Leave a comment at the bottom of the page if you’d like to add to the conversation or ask a question of your own. We will make every effort to get out to everyone!
Is it too late for me to start a company or create a startup now that I’m nearly 29?
It’s Monday, and you’re back at work, wondering why you haven’t launched your own company; why you’re still having to prepare reports on topics you don’t care about; and where you went wrong…
I’m here to assist, so take a cup of coffee, set down the report and emails, silence your critical inner voice (and, if possible, your boss’s voice), and pay attention.
It’s never too late to start a company, even if you’re still in your twenties.
I’ll just name a handful, but there are hundreds of well-known entrepreneurs who began their careers later in life. Here are a few that you may recognize:
- Coca-creator, Cola’s John Pemberton (age 55)
- Colonel Harland Sanders, KFC’s founder (age 65)
- Ray Kroc, the guy who made McDonald’s a success (age 52)
- Kaiser Permanente was founded by Henry Kaiser (age 63)
These guys came to grasp what worked, what didn’t work, and what was needed in their business as a result of their years of experience. They experimented as well. Quite a bit. One of these individuals was Colonel Sanders, the creator of KFC. He’d been a job hopper for much of his life, working as a riverboat pilot, a farmer, and so on, dabbling with insurance and even fire safety. His first business venture, a gas station, flopped horribly, and his second venture, a restaurant, ended in catastrophe when the United States joined WWII and visitors dried up. Sanders, however, would not give up and went on to establish and franchise ‘Kentucky Fried Chicken.’
What’s the lowest common denominator?
They were never satisfied with their efforts.
You could not be more wrong if you believe that in order to succeed, you must have an original concept. If this were true, there would be no competitors or ‘sample business plans’ for X industry, which we have hundreds of! While you may not have developed the equipment for sequencing the human genome, whether or not the concept is novel, your success will mainly be determined by your ability to put it into action.
I went to Palo Alto Software’s executive team for the best answers, since they all have extensive expertise managing and operating companies, as well as assisting tens of others in doing so.
Front-line responses
“Just do your thing, work hard, and study, and you’ll be an old hand in no time.”
VP of Product Development, Josh Cochrane
“When I was 13, I recall asking a similar inquiry. I was obsessed with music — I spent my part-time job money on new records, stayed up late listening to the best late-night radio shows, and devoured all of the music magazines — and it seemed like I was always reading about these incredible guitarists who had started at the age of eight, seven, or even five. It would be great to learn to play the guitar, but at 13, with no prior experience and no access to a guitar, I thought it was already too late. The ship had left port.
Fortunately, I was able to strike a bargain with a buddy to purchase an electric guitar. I’ve been playing for 30 years, and the fact that I began at 13 instead of five is irrelevant to me now that I’m in my early 40s. Life is lengthy, time goes in both directions, and if we strive hard enough, we can learn and grow.
We speak with a number of excellent first-time entrepreneurs in their 40s, 50s, and beyond who are starting and running fantastic companies. In fact, 28 seems like a young age to start your own business. So don’t be concerned about falling behind. Don’t be concerned about the genius students who launched their first company in middle school. Don’t worry about those that moved from an MBA to their first company right away. Just get started, work hard, and study, and you’ll be an expert in no time.” – Josh Cochrane’s Twitter handle is @joshcochrane.
It’s possible that your age will work in your advantage.
Caroline Cummings is the Vice President of Business Development for the company.
“I don’t believe there is ever a time when it is too late to start a company. When I was 38, I established my first IT firm, and when I was 42, I started my second. Starting at those ages was really advantageous to me since I had years of expertise in management, marketing, sales, networking, and partnerships. This also made the investors who financed my project feel more secure. Regardless of your age, I suggest finding a mentor to help you establish and develop your business.” – Tweet Caroline @iamcarolina
“Age…brings knowledge, experience, and patience,” says the author.
Noah Parsons is the company’s Chief Operating Officer.
“I think the question stems from the misconception that startups are just for 20-year-olds who sleep beneath their desk and work 24 hours a day, 7 days a week. However, the notion that sleep deprivation is needed to start a business is simply that: a fiction. Take a look at sleep science to see how getting adequate sleep and time away from work may help you perform better rather than hurt you.
Investors value knowledge, experience, and patience, all of which come with age. Having people management expertise, learning from errors, and learning from data are all factors that will help your company operate more smoothly.
Successful Silicon Valley businesses led by 20-year-olds are the exception rather than the norm. They simply receive a lot of publicity, so it creates the idea that starting a business requires being young and inexperienced.” — Noah Parsons (@noahparsons) on Twitter
Watch This Video-
The “is 33 too late to start a career” is a question that many people ask themselves. The answer is no, but it depends on what you want to do. If you are unsure about your future career plans, it might be better to wait until later in life before starting your own business.
Frequently Asked Questions
Is it too late to start a business at 30?
A: This is a very broad question. However, it is never too late to start one. There are many people who have started businesses after age 30, and there are others who wait until later in life before deciding that now would be the ideal time for them to start their business
Is 30 a good age to start a business?
A: According to this article, starting a business at a younger age is often beneficial.
Is 28 a good age to start a business?
A: The 28th of January is the equivalent to a Monday.
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