The one thing about small business that people don’t seem to know is that age is not the primary determinant in the success of a business. It might be an advantage in terms of vigor for youths and experience for the older ones. The success of a business cannot be directly linked to the age of the founder.
People often assume that as they age, they are less likely to succeed in business. This isn’t true at all and here is why:
You may not have started your own business all this while but you’ve most definitely gathered some experience working elsewhere. Your age implies that you’ve had far more experience in life and understand to a considerably extent the in and outs of life. Your business acumen is heightened at this point as well as your ability to negotiate.
The older you get the better you get at managing both money and people. The ‘frivolous’ spending you might have engaged in during your youth won’t be quite as enticing now. The importance of business planning, savings and time management become of paramount importance to you. The older you get, the more efficient, cost-effective and productive your decisions become.
As life goes, you make friends, meet more people and broaden your network; your circle of influence expands. These connections will be a great advantage for when you start your business. The different network of peers and colleagues that you no doubt pick as you age will set your business on the course of success.
Most youths are undecided when it comes to career path. This is where age comes to play. The older you get the clearer your goals, passions, and aspirations become. ‘Knowing exactly what you want’ is a major player in the success of every business. It keeps you focused and consistent.
It’s not too late for you to start a small business venture. Don’t discourage yourself into thinking that you’re too old for it; you’re not. Go for it, plan for it, and you’ll surely succeed at it.