Average Age of Successful Entrepreneurs?

July 10, 2009

By sinha

Is there a correlation between age and success?

Vivek asks this question at the startup forum

Of late (precisely past 10 months) I have come across many successful entrepreneurs across various industries and many of them were well backed by investors (not to say funding = success), one thing I found common among them was their age or amount of experience before they jumped on the startup wagon. Most (about 80%) of them were in their 33+ in age. Did not see many young folks (exceptions would be ofcourse redbus, directi etc) in their 20s.
Here comes the question now. Is there a direct co relation between the probability of success and the # years of experience. Are you more likely to have more folks joining you(clients, investors etc) if you are older. Is there learning for youngsters that sometimes its good to wait and explore more?

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Do share your perspective at the forum.

Tags: entrepreneurs, Entrepreneurship, startups

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Sameer on July 10, 2009 at 3:30 pm

Interesting Qn!
How many of the 33+ started before they were 33, and became “successful” later ?

bajirao on July 10, 2009 at 4:25 pm

Hmm .. I think it’s more like how many of the netrepreneurs stuck around till they were 33+ to be successfull .. obviously handful … not a pretty picture for Indian ecosystem I must say.

Guru on July 10, 2009 at 7:56 pm

Best to do a startup in west is when u r in college,and best to do it in india is when you start thinking of your college(b/n 35 yrs-40yrs)

Pavan on July 10, 2009 at 9:13 pm

that was damn good )

Vivien on July 11, 2009 at 4:41 pm

As someine once said, go to where there is no trail and make your path.and another one adds: if you think you can or you can’t either way you’re always right.

I’m in my twenties and i’ll be successful before my thirties.

The rule for success is breaking the rule.

Everybody under thirty, around the world, let’s stand up and show them success has nothing to do with age. I’m counting o you to join the revolution! Cheers
(Find me on linkedin http://www.linkedin.com/in/vivienhounsounou)

RYK on July 11, 2009 at 11:29 pm

Hi, yes, one becomes a better manager after 33, with better clarity and maturity, so one is able to execute better. Plus ofcourse there is more experience by that time. You need to be exceptional to make it very young, that is why some of the very young entrepreneurs such as the ones behind Google, MS, Facebook etc come from elite colleges.

Mayur on July 12, 2009 at 12:51 am

An interesting data to find out here would be to see how many people start their venture in 20s and how many start after 33 yrs of age. If that is also in the ball-park of 1:4 ratio, then the age is immaterial.

My guess would be there are more people who work for some years before venturing out on their own, hence the more number of entrepreneurs above 33 years of age and more in the category of successful ones.

Relating age to success or people’s belief in you, sounds a bit lame.

Sameer on July 12, 2009 at 12:37 pm

Well, its not a question of the age really, but the factors that come into play at various stages of life. Financially, from a social viewpoint, from personal reasons and for reasons to do with skills and breadth, which are critical for certain kinds of startups. Sure, there are many for whom these attributes do not fit the usual curve, but by and large, circumstances do follow a certain pattern with growth – both on the calendar and off it.

Imtiaz K on July 13, 2009 at 1:23 pm

I Think, there is a definite relationship between age and probability of success. I am saying this with confidence because I ventured in my twenties and failed and now am in thirties and venturing again.
I am much more confident now, my gyan about business and management has improved great deal. At this point of time,
I may not know the key to success in business, I definitely know the keys to failure. I am thankful to the almighty for having failed in my first venture, because there is so much and so much to learn before that. My failure actually became a teacher to me. I am also advising friends about how to prepare for business and know that failure is certain in parts or in whole… success is bound to happen, we just need to persist and persevere. It is only and only hard work and nothing else.

After our 30th birthdays … I think we tend to
* Hear ghazals than hip hop songs.
* Our music system in the car is off, when we are driving alone
* It will not cost more than 10K as against 40K piece before
* Give the car only what it needs to run, nothing more
* Meet friends for more productive discussions than talking about women
* Be more positive about the political situation in the country than before
* Read business management & entrepreneurship books than watching movies
* Start putting efforts to get the family on our side and stop being rebels
* Write more formal emails with proper signatures at the end
* Print less photographs and more ebooks and presentations
* Hold ourselves from thinking about the new SUV and focus on buying a house.
* Restrain going to ATMs for withdrawing and manage with what is there in the pocket
* Smoke Goldflake smalls as against GoldFlake Kings
* Drink the nasty sugarless tea and even worse ‘green tea’ !
* Keep using the same Zippo and Swiss Knives which is over a decade old
* Keep the sodexho passes with us and surrender the ATM and Credit card to the boss at home.

All these things are the making of a better entrepreneur. These things happen after your 30th birthday.

Hope you enjoyed
Best wishes,
Imtiaz K.

Guru on July 13, 2009 at 1:30 pm

Well said imtiaz:)
ur comment is blog material itself…

Imtiaz K on July 13, 2009 at 1:43 pm

Thanks Guru…

It is encouraging to see your reply.
By the way there are a couple of blogs I have written.
Look at futurefull.blogspot.com

Happy reading.
Imtiaz K.

suhani on July 13, 2009 at 1:54 pm

It is not age that matters but experiences do – be it college internships, summer jobs. If you start early in life, your experinces enrich you with all the maturity a 33 year has. You can be 22 and have all the understanding of how to make your venture a successful one, that is if you have started at, say about, 19.

But, yeh, funding can be better if you are older as you have your savings of years. otherwise, age is no bar to start out on your own.

Vivien on July 13, 2009 at 2:05 pm

Thanks Suhani for your comment, i started feeling alone.

Now i have to thank Imtiaz K too for his undoubtedly holy comment. However my question to him is this: Why is it that all the points he allege are the making of a better entrepreneur can’t be done or applied to an individual before 33?

I’m not trying to brag or show off, but knowing who I ultimately wanna be, I’m already doing those things and even more even though am still far, far from 30.

So explain to me what am missing! I strongly believe that one ca become successful before one’s thirties.

Thanks to you all, Have a good day

Imtiaz K on July 13, 2009 at 2:16 pm

Hi Vivien…

Well. I must agree with your argument.
What I have said is my own experience. Since I think I am a general, normal , next door IT professional and budding businessman… I took liberty of representing the fraternity of budding entreprenuers.

If you are doing what I started doing after 30, then you are better human being than the ones I represent. You hold better chances of becoming a successful entrepreneur earlier than us.

Just that lesser humans like me, take more time to learn and implement.
I think I am reasonable in saying that I represent the majority… thats why we have more failures than success.

Agree?
Imtiaz K.

Vivien on July 13, 2009 at 5:47 pm

Hi Imtiaz K,

I may be younger than you, but i can tell irony from sincerity. The way you sarcastically compose your reply doesn’t befit the successful entrepreneur you are. So i don’t see any good in continuing this discussion.

However, because you’re somewhere i want to be i’m pretty sure there are plenty of good things that i can get by sticking around you. Kindly join my network on linkedin: http://www.linkedin.com/in/vivienhounsounou

I’d appreciate to have you on board. Thanks

Have a good day

Cheers!!!

Imtiaz K on July 13, 2009 at 5:54 pm

Hi Vivien,

Pulling and sarcasm are differentiated by a fine thread. I Guess crossed it.
Please accept my heart felt and sincere apologies,If you dint like my comments.
I forgot add some smilies along my writing, that would have displayed my jovial attitude while writing that reply.
My objective of the reply was to pull you for fun and not to hurt you.

People on the forum,
I here by take back my words written in reply to our forum member Vivian. I do not have and will never have any intention to hurt any one with my words.

Vivian I am sorry.

Please keep writing. It is very important for all us to exchange our thoughts, after all we all are here to learn from each other.

Hope you will forgive me.

Imtiaz K.

Naveen on July 15, 2009 at 5:54 pm

Dear Imti,

It was a nice reply and we need to have fun too…….

Jerry on July 20, 2009 at 5:17 pm

33+??
Why are all of you such late bloomers? One should have been through with school at 22-24 at the latest (if you are one of the serious ones anyway) and be well on your way to making 100k+/year by 27ish. By 30-33 250K is where you should already be at, not just beginning to be successful!!! STOP PARTYING/TV/MOVIES ETC AND GET TO WORK.