Best Age to Become a Successful Entrepreneur

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Here are the main points to remember from this infographic…

1) The confidence of a population.
There are a lot of misconceptions when it comes to the types of people who start businesses. More often then not, they are perceived as being 20-somethings with a background in either technology or business. However, when asking the population what they think of entrepreneurship and opening a business, there is a great degree of confidence. For example, over half of the American population believes that they could start a business.

In addition, just less then half of Americans believe they have a good reason to start a business. These stats cover everyone, from those fresh out of college to those starting a second career. Either way, other people have the confidence that they, and you by extension, could start your own business and be successful.

2) A convergence of perceived opportunities, capabilities, and failure.
Though many people believe that we peak when we are young, there is a great deal of evidence that would suggest otherwise. In fact, it would seem that we as individuals peak between the ages of 35 to 44. During this time, individuals test highest in positive traits like their perceived opportunities and their perceived capabilities.

In addition, they score lowest in their fear of failure. These three traits, especially the last are crucial to starting your own business. There is no bad time to start a new business, and regardless of your age, stats like these show that there is always time.

3) What age brings to the table.
Age is often seen as a negative. As we get into our 40′s and 50′s, our looks and general health take a turn for the worse. However, with age comes invaluable qualities that make opening a business much simpler. For example, age brings knowledge. The longer you live, the longer you have to get a sense of people. From knowing more about rules and laws to having perfected better ways of getting things done, age brings invaluable knowledge.

In addition to knowledge, age also brings relationships. Individuals are only as good as the network of people around them. When it comes to opening your own business, this can be especially true. The older you are, the easier it is to draw up financial support through your greater network of friends. The last thing that age gives you is power. It provides you with much less fear of failure, and with a lifetime’s worth of experience to boost your confidence and voice.