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:

  1. Founders of Google:  Sergey Brin (25) & Larry Page(25)
  2. Founders of Apple:  Steve Jobs (21) & Steve Wozniak (26)
  3. Founders of Microsoft:  Bill Gates (20) & Paul Allen (22)
  4. Founder of Facebook:  Mark Zuckerberg (20)
  5. Founder of Wal-Mart:  Sam Walton (26)

If you need funds, by the way, I urge you to investigate Lendio. With Lendio, you have a 70% change of getting funding for your business, and without Lendio, they say it is only a 1 in 10 chance. You will also increase your funding chances by working with Pacific Human Capital . . . we are shooting for better than Lendio’s 7 out of 10 funding ratio.

So is the only action for those who are 25 and younger? No. Analysis of start-up businesses in recent years shows that firms that began with principals who were over age 45 have a much better chance of still being in business five years after they started. Cheryl Conner, VP of Communications for Grow America, has another Forbes article that is matched to Brock Blake’s cheerleading for younger entrepreneurs. The article is linked to a poll that shows respondents say that either age doesn’t matter, or new businesses have the best chance of success when younger and older co-founders team up.

All of this action, by the way, is coming out of Utah. Both Lendio and Grow America are based in Salt Lake City. Let’s mix this up and spread the action around. It’s about time California started growing again. If you are interested in starting or expanding your business, contact Pacific Human Capital to find out how we can help.

 

 

 

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