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“What age is good to start a business?” It’s a question many people think about, filled with excitement and maybe a little worry. We all go through life at our own pace, wondering when we should jump into starting our own business.
But is there really a perfect age to do it, or does it depend on each person?
Let’s take a closer look at this interesting question and see what we can find out about when it’s best to start a business.
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Is there a right age to start a business?
The “right” age to start a business varies greatly depending on factors like individual circumstances, industry, and personal readiness. Some people launch successful ventures straight out of high school or college, while others may start later in life after gaining industry experience.
What age is good to start a business?
Starting a business in your 20s can be a great time for most people and for good reason. At this age, you often have fewer responsibilities, more energy, and a higher risk tolerance. You may also have fresh ideas, a willingness to learn, and ample time to recover from any setbacks. Plus, starting young allows you to gain valuable experience and learn from mistakes, setting a strong foundation for future endeavors.
However, there’s no one-size-fits-all answer to when the best time to start a business is—it ultimately depends on individual circumstances, goals, and readiness.
Below are some of the key factors to keep in mind when deciding the best age to start a business.
| Factor | Starting a Business in Youth (Teens to Early 20s) | Starting a Business in Adulthood (Late 20s to Mid-40s) | Starting a Business in Later Life (Late 40s and Beyond) |
|---|---|---|---|
| Financial Resources | Typically limited, may rely on personal savings or family support | Likely to have some savings and potentially access to loans or investments | May have more substantial savings, retirement funds, or assets to invest |
| Responsibilities | Fewer financial responsibilities (e.g., mortgage, children) | May have financial obligations such as mortgage, student loans, or supporting a family | May have dependents, significant financial commitments, or retirement considerations |
| Industry Experience | Limited professional experience but may have fresh perspectives and innovative ideas | Likely to have gained industry experience, networks, and insights | Often possesses extensive industry knowledge and professional connections |
| Risk Tolerance | Generally higher risk tolerance due to fewer financial obligations and time to recover from failures | Moderate risk tolerance, balancing the need for stability with entrepreneurial ambition | Lower risk tolerance, may be more cautious due to financial security concerns |
| Time Commitment | More flexible schedule with potentially more time to devote to the business | Balancing work, family, and other commitments may require efficient time management | May have to juggle business responsibilities with family and potential retirement plans |
| Support Network | Reliance on family and peers for support and guidance | Likely to have a broader professional network for mentorship and collaboration | May seek support from peers, industry contacts, or entrepreneurship communities |
| Long-Term Goals | Opportunity to build long-term wealth and gain valuable entrepreneurial experience early in life | Balancing short-term business success with longer-term career and financial goals | Focus on building a legacy, retirement income, or fulfilling lifelong entrepreneurial aspirations |
Young entrepreneurs who disrupted industries.
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Mark Zuckerberg (Facebook):
- Age at Start: Zuckerberg started Facebook in his Harvard dorm room in 2004 at the age of 19.
- Success: Facebook quickly grew from a college networking platform to a global social media giant. By the time Zuckerberg was 23, Facebook had over 100 million users, and he became one of the youngest billionaires in history. Today, Facebook has billions of users worldwide, fundamentally changing how people communicate and interact online.
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Evan Spiegel and Bobby Murphy (Snapchat):
- Age at Start: Spiegel and Murphy co-founded Snapchat in 2011 while they were students at Stanford University, with Spiegel being 22 and Murphy being 24 at the time.
- Success: Snapchat disrupted the social media landscape with its focus on ephemeral messaging and innovative features like Stories. Within a few years, Snapchat became immensely popular, particularly among younger demographics. In 2017, Snap Inc., Snapchat’s parent company, went public, making Spiegel and Murphy among the youngest billionaires globally.
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Brian Chesky, Joe Gebbia, and Nathan Blecharczyk (Airbnb):
- Age at Start: Chesky, Gebbia, and Blecharczyk founded Airbnb in 2008. Chesky was 27, Gebbia was 26, and Blecharczyk was 25 at the time.
- Success: Airbnb disrupted the hospitality industry by allowing individuals to rent out their properties to travelers. Initially starting as a way to make rent money, Airbnb grew rapidly, transforming the way people travel and find accommodation. By 2011, Airbnb had served over 1 million guests, and today it’s valued at billions of dollars, making its founders some of the youngest and most successful entrepreneurs in the world.
Midlife entrepreneurs who achieved success through experience.
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Ray Kroc (McDonald’s):
- Age at Start: Ray Kroc was 52 years old when he met the McDonald brothers and acquired the rights to franchise their restaurant in 1954.
- Success: Drawing on his experience in sales and marketing, Kroc transformed McDonald’s into the world’s largest fast-food chain. Through innovations like the assembly-line production of hamburgers and standardized menus, Kroc built a global empire. McDonald’s is now one of the most recognizable brands worldwide, with thousands of locations in over 100 countries.
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Vera Wang (Vera Wang Bridal):
- Age at Start: Vera Wang began her career in fashion at the age of 40 after working as a figure skater and a fashion editor at Vogue.
- Success: Leveraging her deep understanding of fashion and style, Wang disrupted the bridal industry by introducing couture-inspired wedding gowns. Her designs quickly gained popularity among celebrities and brides-to-be worldwide. Today, Vera Wang is a renowned fashion designer with a multimillion-dollar empire encompassing bridal wear, ready-to-wear fashion, accessories, and fragrances.
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Julia Child (Cooking and Writing Career):
- Age at Start: Julia Child began her culinary career in her late 30s when she enrolled in Le Cordon Bleu cooking school in Paris.
- Success: Drawing on her passion for French cuisine and her experiences living in France, Child introduced French cooking techniques to American audiences through her television show, “The French Chef,” which debuted when she was 51 years old. Child’s approachable teaching style and infectious enthusiasm made her a beloved culinary icon, and she authored numerous bestselling cookbooks. Child’s influence on American cuisine continues to be felt today.
Late-blooming entrepreneurs who defied age stereotypes.
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Charles Flint (IBM):
- Age at Start: Charles Flint was 61 years old when he orchestrated the merger of four major companies to create the Computing-Tabulating-Recording Company, which later became IBM, in 1911.
- Success: Despite his age, Flint played a pivotal role in the formation of one of the world’s leading technology companies. Under his leadership, IBM expanded its presence in the computing industry, developing innovative technologies and establishing itself as a global leader in business machines. Flint’s vision and strategic acumen demonstrate that age is not a barrier to entrepreneurial success.
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Anna Mary Robertson Moses (Grandma Moses):
- Age at Start: Anna Mary Robertson Moses, known as Grandma Moses, began her career as a painter at the age of 78 after arthritis made it difficult for her to continue her embroidery work.
- Success: Despite starting her artistic career late in life, Grandma Moses became one of America’s most celebrated folk artists. Her nostalgic depictions of rural life captured the imagination of the public and gained widespread acclaim. Grandma Moses’ paintings were exhibited in prestigious galleries, and she achieved international recognition for her unique artistic style, proving that creativity knows no age limits.
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Harland Sanders (Kentucky Fried Chicken):
- Age at Start: Harland Sanders, better known as Colonel Sanders, franchised Kentucky Fried Chicken (KFC) at the age of 65 in 1952.
- Success: Despite facing multiple failures and setbacks throughout his life, Colonel Sanders achieved remarkable success in his later years. Through his dedication to his fried chicken recipe and his franchising efforts, KFC grew into one of the world’s most recognizable fast-food chains. Sanders’ entrepreneurial journey exemplifies perseverance and resilience in the face of adversity, inspiring entrepreneurs of all ages.
Conclusion
The 20s can be an optimal time to start a business due to factors such as fewer personal and financial obligations, higher levels of energy and resilience, a greater capacity for risk-taking, and the opportunity to learn and grow from experiences at a pivotal stage in life.
While there’s no universal “best” age to start a business, seizing the opportunities and flexibility that come with youth can set a solid foundation for entrepreneurial success in the long run.
But remember, there’s no one-size-fits-all approach. Whether you’re in your 20s or not, what matters most is your passion and determination. So, if you’re feeling inspired and ready to make your mark on the business world, don’t let age hold you back. Embrace the discomfort and dive in, no matter where you are on life’s timeline.
