Learn or leave the market

IT IS NEVER TOO LATE
TO START A BUSINESS
According to the United States Census Bureau, the average age 
of startup founders is 42. Young entrepreneurs are much less interested 
in such industries as oil, gas, and biotechnology, and the average age 
in those areas is even higher at about 47. That is why you should not use 
social media as an indication on who is more relevant on the market 
and has better chances of surviving in business — younger or older 
people. Although it is generally accepted that it is the younger people, 

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 Chapter 6. How to Stay Sharp After Fifty.
108
in practice it is the opposite. If you take look at the most successful 
companies, you will see that the average age of their founders is about 
40, or maybe even older. Among new businesses, older entrepreneurs 
have a better chance to succeed — to be specific, 85 %. In addition, 
many people go into business once they reach fifty since this age 
is known to be the peak of a person’s intellectual and emotional matu-
rity. Age also provides people with great insight.
Why does it happen? It is all about the experience and contacts 
that give older people an advantage. Wherever you go, experience 
has a decisive role. People who only had one or two jobs are not 
as prepared for what awaits them when launching a new startup.
For example, Steve Jobs first introduced the iPhone when he was 
52 years old. As you are probably aware, the iPhone has since become 
Apple’s most profitable and well-known product. Amazon gained its 
popularity and became an international shopping platform after its 
founder Jeff Bezos turned 45. As you can see, these remarkable entre-
preneurs were far from young, but it only contributed to their success.
You can learn to manage your own business at any age, but you need 
to learn it from practice and experts that are knowledgeable in your 
field. Another key to success is analyzing the mistakes of your prede-
cessors. You should start by studying past results, as well as future 
trends. Sure, you will be supported by your strengths, which you, unlike 
newcomers, already know very well, feel and can show.