According to the Oxford dictionary, the definition of an entrepreneur is “a person who makes money by starting or running businesses, especially when this involves taking financial risks”. Merriam-Webster defines entrepreneur as “one who organizes, manages, and assumes the risks of a business or enterprise.” These two definitions are very similar but when the word entrepreneur is mentioned, most people share a common connotation. A connotation which is not mentioned in any existing definition.
When people are asked to think of an entrepreneur, the image that pops up is of a scruffy-looking man (usually a man) in his 20’s, wearing plain jeans and a hoodie. To some part, Hollywood with its movies and tv series might be have a part in creating the stereotype of an entrepreneur. But is it really the young entrepreneur that is most successful? The truth is that most entrepreneurs in the world decide to start their own business when they’re anything from 30-50 years old. Age is not a requirement for success. An example of this is McDonald’s founder Ray Kroc, who sold milkshake mixers and paper cups until age 52 when he founded the fast food franchise. Author J.K Rowling, who is well-known for writing the popular Harry Potter books, was an unemployed single mother until age 31.
With age comes knowledge and experience and this might be one of the reasons why middle-aged people can take their business to the next level. Not all skills can be learned, some come hand in hand with past experiences which means fully learning from all mistakes made. Another reason why middle aged people excel is because of their mindset. New, young entrepreneurs might have a mind full of great ideas but the older entrepreneurs know how to sift through ideas in order to pick the best one and make use of it. People who have been in the business for a longer time have had a chance to develop a network far wider than those of younger people. Some have also had the chance to save money in order to pursue their business dreams. People in their 20's-50's can seem more reliable and therefore have an easier time finding investors.
Do not give up your hopes of becoming successful just because you have reached a certain age. There are no limits other than the ones you set yourself. Good luck on your journey, and who knows what you can achieve.