The average age for a successful startup is….

jamie3000

jamie3000

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“Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. Integrating administrative data on firms, workers, and owners, we study startups systematically in the U.S. and find that successful entrepreneurs are middle-aged, not young. The mean age at founding for the 1-in-1,000 fastest growing new ventures is 45.0. The findings are similar when considering high- technology sectors, entrepreneurial hubs, and successful firm exits. Prior experience in the specific industry predicts much greater rates of entrepreneurial success. These findings strongly reject common hypotheses that emphasize youth as a key trait of successful entrepreneurs.”

http://mitsloan.mit.edu/shared/ods/documents?PublicationDocumentID=6212
Study by MIT. Found it interesting so thought I’d share it here :)
 
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That has been a well known "secret" for investors for a long time Jamie.

I am an angel investor and here is another interesting stat of my own.

100% of my no shows to meetings they requested and book are from millennials down and 50% of millennials down are no shows.

100% of 45 up show up to meetings they book and represent 80% of my investments. All those investments are profitable.
 
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Thats one heck of a read! It is good material, though; it makes the realism principle fair and square. Although I think the results may be squewed, as it seems like they only took high end startups. If you read the millionaire next door, you get the best picture I think! That talks about not just tech startups, but all kinds of business owners.
 
jamie3000 said:
“Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. Integrating administrative data on firms, workers, and owners, we study startups systematically in the U.S. and find that successful entrepreneurs are middle-aged, not young. The mean age at founding for the 1-in-1,000 fastest growing new ventures is 45.0. The findings are similar when considering high- technology sectors, entrepreneurial hubs, and successful firm exits. Prior experience in the specific industry predicts much greater rates of entrepreneurial success. These findings strongly reject common hypotheses that emphasize youth as a key trait of successful entrepreneurs.”

http://mitsloan.mit.edu/shared/ods/documents?PublicationDocumentID=6212
Study by MIT. Found it interesting so thought I’d share it here :)
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I think it's because understanding things like LLC/LTD.
Most young people earn money and spend.
The thing is to separate yourself from your own businesses.
Doing SaaS, make LLC. Doing ecommerce, make LLC. Separate your own finance from company finance. Only this way allow you to grow your business seriously.

Most of young people, but also older in many countries are doing just sole trader type because it's faster, easier and you can spend your money for pizza immediately. They are afraid to start LLC because you need a tax guy and lawyer.
 
GringoMonkey said:
That has been a well known "secret" for investors for a long time Jamie.

I am an angel investor and here is another interesting stat of my own.

100% of my no shows to meetings they requested and book are from millennials down and 50% of millennials down are no shows.

100% of 45 up show up to meetings they book and represent 80% of my investments. All those investments are profitable.
Click to expand...
What do u invest in? Tech?
 
Lukmat said:
Most of young people, but also older in many countries are doing just sole trader type because it's faster, easier and you can spend your money for pizza immediately. They are afraid to start LLC because you need a tax guy and lawyer.
Click to expand...
No. It's not true.

Young people like me (25 years old) don't do it because they don't know jackshit, spent their last 17 years learning and have zero life experience.

They can't generate cash flow and are always negative or around zero.

Maintaining an entry level job is the best they can do. Or move abroad.

Tax guy and lawyer... for what? $500 profit a month that fluctuates?

They want people with not so well developed face features and emotions to manage hundreds of thousands? How? Young people had no time to make REAL mistakes and fail. They need to fail first.
 
reaaski said:
Tax guy and lawyer... for what? $500 profit a month that fluctuates?
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Well, nobody is paying for sitting 24h/7 in The Lounge and replying for everything ;)
I see you at every hour, every day here.

I have a plan for you:
-make 10 automated AI blogs, make and forget
-make some etsy stores with AI, make and forget
-think about some micro SaaS BHW need, use chatgpt to code it

There are many ideas, you can make and forget. 3 months and you have more than $500/month ;)
 
Lukmat said:
Well, nobody is paying for sitting 24h/7 in The Lounge and replying for everything ;)
I see you at every hour, every day here.

I have a plan for you:
-make 10 automated AI blogs, make and forget
-make some etsy stores with AI, make and forget
-think about some micro SaaS BHW need, use chatgpt to code it

There are many ideas, you can make and forget. 3 months and you have more than $500/month ;)
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If so, then you must be doing the same. :D

Actually I post only 6 hours a day, not 24.
 
reaaski said:
If so, then you must be doing the same. :D

Actually I post only 6 hours a day, not 24.
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Well, I have different points, but yes. I am building different sources of future income now.
It will take 3-5 months without any income.
 
Lukmat said:
Well, nobody is paying for sitting 24h/7 in The Lounge and replying for everything ;)
I see you at every hour, every day here.

I have a plan for you:
-make 10 automated AI blogs, make and forget
-make some etsy stores with AI, make and forget
-think about some micro SaaS BHW need, use chatgpt to code it

There are many ideas, you can make and forget. 3 months and you have more than $500/month ;)
Click to expand...
Easier said than done ;)
 
reaaski said:
No. It's not true.

Young people like me (25 years old) don't do it because they don't know jackshit, spent their last 17 years learning and have zero life experience.

They can't generate cash flow and are always negative or around zero.

Maintaining an entry level job is the best they can do. Or move abroad.

Tax guy and lawyer... for what? $500 profit a month that fluctuates?

They want people with not so well developed face features and emotions to manage hundreds of thousands? How? Young people had no time to make REAL mistakes and fail. They need to fail first.
Click to expand...
Young folks come in all shapes and sizes :)

But yeah, there's some logic here that the best shot at building a cool business is usually with someone relatively "young." Because if you're not young anymore and haven't built anything yet, it kinda suggests a slight "business misfire." :D:)
 
Cast4r said:
Young folks come in all shapes and sizes :)

But yeah, there's some logic here that the best shot at building a cool business is usually with someone relatively "young." Because if you're not young anymore and haven't built anything yet, it kinda suggests a slight "business misfire." :D:)
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Don't judge before 40s. :D

Angel investor... these cool names. :cool:

"Honey, you're an angel!"

Edit: if you give up in your 40s and don't try in 50s and 60s, it's even worse than giving up in your 20s or 30s.

Because you've got already 40 years of life experience, so what's holding you back to correct some mistakes and do it for 10 years? Marriage? Kids? Alcohol? Mindset? Maybe.
 
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reaaski said:
Don't judge before 40s. :D

Angel investor... these cool names. :cool:

"Honey, you're an angel!"

Edit: if you give up in your 40s and don't try in 50s and 60s, it's even worse than giving up in your 20s or 30s.

Because you've got already 40 years of life experience, so what's holding you back to correct some mistakes and do it for 10 years? Marriage? Kids? Alcohol? Mindset? Maybe.
Click to expand...
Never giving up is key, but it's also smart to know when something isn't for you.
Like, if business feels like a constant uphill battle, maybe it's time to try something else. It's all about enjoying what you do. Whether you're young or older, life's too short not to have fun with what you're doing.
Remember, it's okay to change paths and find what makes you happy. :)
 
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