Think you're too old or young to start your own business? Think again. Even if you've already done many things with your life, or think you haven't done enough, if starting your own business is still on this list, it's never too late to begin a new venture. Despite this, some people believe that age plays a role in entrepreneurial success.
A recent article in Entrepreneur discusses this way of thinking, explaining that several studies have been conducted trying to determine if the age at which a person starts their own business plays a role in how successful they will be.
According to the article, the surveys, which came from institutions like Duke University and the Kaufman Foundation, found that 40 is the average age at which an entrepreneur begins their first startup. It was found that experience, particularly previous experience with startups, played a bigger role in success than age.
As we've mentioned previously on this blog, baby boomers have the potential to make great entrepreneurs. One of the things that sets them apart in this potential is that due to their age, they have likely had valuable experiences that will give them an edge in the business world.
While your age may not directly impact the success of your venture, other aspects come into play that will. When just starting out, no matter what your age is, it's crucial to ensure that your business is poised for success. One of the essential steps in this process is to learn about the benefits of incorporating your business, and determine the right type of business entity for your company. An online incorporation services company can help answer any questions you may have about incorporation.