Is Age Just a Number? Big Wins by Older Entrepreneurs
The entrepreneurial archetype that people think of in 2015 is usually some sort of kid-genius programmer or visionary that strikes it big. Think of Mark Zuckerberg, who created co-founded Facebook in his early 20s and launched a multi-billion dollar empire.
However, through society’s reverence for such enigmatic figures, we’ve forgot about a group that gets less appreciation than they deserve: entrepreneurs who launch big businesses closer to their golden years.
Today’s infographic shows that older entrepreneurs are more likely than their younger counterparts to be successful in certain industries. For example, the average successful founder in the computers, health care, and aerospace industries is about 40 years old. Further, a study by the Founders Institute discovered that businesses are more likely to succeed as their founders close in on that same age.
There are actually more entrepreneurs in higher age brackets than before. Just 14.3% of new entrepreneurs in 1996 were older than 55, and in 2012 that number soared to 23.4%. Today, this older segment actually starts new businesses at a higher rate than folks in their 20s or 30s, and has the highest rate of entrepreneurial activity overall. An older entrepreneur can handle the financial risks, and also tends to have a more stable family life and better experience.
Some successful entrepreneurs who started businesses later in life include Sam Walton (Wal-mart) at age 44, Gordon Bowker (Starbucks) at age 51, Arianna Huffington (Huffington Post) at age 54, and Charles Flint (IBM) at age 61.
Is age just a number? It seems so. Older entrepreneurs are founding more businesses and achieving great things, even in the “Zuckerberg” age.
Original graphic by: SurePayroll
Originally posted on Visual Capitalist.