Entrepreneurs Under 25 and Over 45: Which Does Better?
Brock Blake, founder of Lendio, has a great article in Forbes about why entrepreneurs under age 25 are able to be successful. Brock thinks along similar lines to me. Lendio offers a $2,500 scholarship to student entrepreneurs who are in college. The funds are intended to allow the student to get a business started without having to worry about having a part-time job and college and starting the business all at once.
Brock’s reasons for the success of young entrepreneurs fit in two simple categories: first, they have “nothing to lose,” in that they don’t have big bills, own homes, or have other responsibilities that would make them more cautious and less eager to take the risks that result in major business success. Second, Brock says that 20-somethings haven’t acquired the habits of a lifetime that will also instill caution or cause more traditional ways of thinking that also don’t spell big business or entrepreneurial success. He lists five examples of some of the top entrepreneurs of our time, and their ages when they founded their companies:
- Founders of Google: Sergey Brin (25) & Larry Page(25)
- Founders of Apple: Steve Jobs (21) & Steve Wozniak (26)
- Founders of Microsoft: Bill Gates (20) & Paul Allen (22)
- Founder of Facebook: Mark Zuckerberg (20)
- Founder of Wal-Mart: Sam Walton (26)