Think its too late for your start-up?
Successful companies are built by young college dropouts. | Is Colonel Sanders the only example that you can think of for someone who started late? Here are some amazing facts. 1/ Harvard conducted a deep dive into successful business models considering patent, investment, and employees. They concluded that the average age was 42. That is two decades of work experience behind them before they even started their venture. 2/ When we talk about software companies the average age is 40 with some exception in new age technologies that require imagination around tech, social media where younger founders thrive. 3/ Oil, gas and biotechnology it is 47. and the list goes on. But what is really striking is the fact that founders who started their companies at 45 were among the top 0.1% of startups based on growth in their first five years. Study also claims that among the startup founders, older entrepreneurs have substantially higher success rate and their performance rising until they hit late 50s. Then why do investors bet on young founders? 1/ Fresh minds, new thoughts 2/ Energy they bring to the table 3/ Investors stand a chance to get a better deal considering they are more financially constrained than the experienced ones Given an opportunity and you know just the founder's age, who would you choose? Experienced middle-aged founder or a young college drop out. P.S: if you have an idea but think its too late, think again. #founders #leadership #startups #funding #VCs Source: mint