Are You Too Old To Become An Entrepreneur?
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Mark Zuckerberg, 20. David Karp, 19. Steve Jobs, 21.
These people is started early, and made it big time. Oh, and their companies: Facebook, Tumblr, Apple.
How old are you?
When I was nineteen, I could have invented what is today called social bookmarking. But I didn’t, Joshua Shachter did (at the age of 29).
I shared that story on this blog back in January and promised to share more tips to every nineteen-year-old out there. Here it goes, tip number 2:
Start when you’re young.
That’s how Steve Jobs did with Apple. So did Bill Gates (Founded Microsoft at the age of 23). And one more: Richard Branson founded Virgin Records when he was 21 years old - but he started his first successful business already 5 years before that.
So, are you too old?
Maybe.
Am I too old?
Yes and no.
Yes:
- At 19 I didn’t have a mortgage.
- At 19 I didn’t have kids.
- At 19 I didn’t have a job. I was studying, and that left me with a lot of spare time.
- At 19 I already had a lot of ideas.
- If I would have started at 19, my business would be nine years old.
If you are nineteen today (or even eighteen for that matter: Adnan, the Blogtrepreneur, is still in high school but that doesn’t stop him from pursuing his business goals), think hard about these benefits. This is a special time in your life that will never come back. A moment when every highway is still open for you.
No:
- At 19 I thought studying and then getting a job was the only way how life is supposed to go.
- At 19 I didn’t have the motivation I have today.
- At 19 I didn’t know what I know today: I hadn’t read all the books. I had no real work experience. I didn’t understand busines.
I wasn’t ready.
The school system had taught me to get a job rather than build jobs.
I didn’t have kids so I didn’t think I’d want to be working at home all day.
I didn’t have big expenses and was living just OK with the student support money I got from the Finnish social security system.
But the big question remains. Am I too old?
This is something I want to talk with you today - and I can’t wait to hear what you have to say on the topic, but here’s my take: No. I’m not too old. Today is a good day to be working towards my goals. Right now is a great time to participate in building something new.
But.
If I was given the chace to be 19 again with this understanding I have today, this time I wouldn’t wait for eight years. I would start right away. I might fail, but at least I would try.
How about you?
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February 8th, 2008 at 2:42 pm
It has more to do with risk than age. As you age you become less willing to take on new risk because [insert dependency here].
I intend to grow old and risky.
Question: At what age can you be considered wise?
February 8th, 2008 at 3:08 pm
If I let other people tell when when I’m too old for things, many things would have been over for me years ago, and my life would be more boring.
I plan to be always young enough for the things I want to do.
February 8th, 2008 at 8:56 pm
Hi Jarkko.
You can begin at any age; provided the effort is well-focused, it hardly matters when you start. I have seen people starting new lives even in their 70s. More energy and time at a young age is a myth and it has been amply proved by many incidents and accidents. Although I’m not trying to underestimate the benefits of a younger age, when it comes to starting new things, age hardly matters. What matters is your attitude.
February 8th, 2008 at 9:50 pm
I started my first business at 19 in fact. And it bombed, as did then next one. Third and forth one stuck for over five years. I think the learning process was invaluable and I wouldn’t give it up. It set the bases for the major growth we have been experiencing.
February 8th, 2008 at 11:49 pm
@Brian: Hey, nice to hear from you again! It’s been a while! I noticed that you seem to have a new business on the way? Would be nice to chat more about it - here, or through e-mail.
“Old and risky” sounds great! I think I might borrow that line. ;)
And wise? I guess the key idea is that you need to be older than the people you are talking with. Compared to a 10-year old, someone as young as 30 might already be considered wise… But then again in order for adults to consider you wise, you need to be at least 60.
But it’s not really about the age, but the experiences.
@Lynoure: I like that attitude! Keep it up!
@Amrit: True, and better late than never.
@shane: What was your first business about? It would be great to hear more about your experiences - and learn from them. :) This could be an interesting topic for a post on your own blog?
February 10th, 2008 at 9:13 pm
You’re not even close to being too old. Sanders of KFC fame started in his late 60’s or 70’s. Some people start early but don’t have the instant fame that the people you mentioned did. It’s all a journey. Richard Branson is still working on his. Everyone is. Do what you feel inspired to do and be happy.
February 11th, 2008 at 6:52 pm
I’m with Brian - it’s a risk consciousness thing. Theoretically, you’re never too old, but the mortgage, the kids, and the risk-averse spouse become factors. Then retirement hits and you’ve got nothing to lose. Therefore (she says, tongue planted firmly in cheek) I recommend beginning a business before 22 or after 65.
The thing that I noticed most, something I hadn’t expected, was the impact of spending so much time away from my husband. Granted, we were in the same house, but I was always, always, always working. That wouldn’t have been a problem when I was single, but he had every right to look to me and say, “I married you with the assumption you’d be both mentally and physically present.”
February 12th, 2008 at 12:53 am
Good question, Jarkko :)
If I had known 15 years ago how things are in 2008, I would have dropped out of school and continued with my homepage experiments :) Instead it took me 11 years more to find out that I want to have a business of my own. I’m still learning and only making small wins here and there, but I believe this path will eventually pay up. If I was younger, I’d have more time to walk on the path :)
Other kind of example of the age thing: my father escaped the office and started his own company 2.5 years ago, at the age of 52. He’s now doing the thing he likes and the business brings in enough to keep him fully employed.
Experience, courage, good luck, knowing your market, attitude - the odds of having those qualities are getting better as you grow up :)
February 12th, 2008 at 9:34 pm
Nice post! Something that has been on my mind lately. I’m 26 now and while I’m by no means “old” I am older than a lot of people just starting with the web game. Sometimes I think that since I’ve got bills to pay, etc., that I just don’t have the resources to really do what I want to do. I can’t take chances anymore (well big chances anyway). If I take a chance and fail, it not only effects me, but also my wife. If I only knew then what I know now, would have started in college when I had no risk, no worries and if it failed and I lost a few grand, it wouldn’t be the end of the would. Of course… I look back now on college and see that I was living the life, no bills really to speak of except splitting the cost with other roommates, no one to worry about but myself, but yet while in college I felt like it was difficult. As I grow older, I really know how easy I had it then. But, hindsight is always 20/20. Just have to continue to look forward.
February 12th, 2008 at 11:44 pm
I started my first business at 19 (back in 2003). And I’m glad I did. Now I have five years of experience, and I’m finally starting to understand how to run a business. It has not been easy, but it’s getting easier.
Once you mentioned that it’s harder for you to make the transition from a regular dayjob to entrepreneurism. You have quite a lot of things to arrange, and it might take long, but you’ve already started the journey. I will support you any way I can. To do that, I need to know what your dream is. Maybe you should reveal/publish it in this blog? Might get your audience hooked big time. When you tell the world, you commit to your goal.
Wherever you choose to go, you will get there somehow. It’s all about deciding.
February 13th, 2008 at 2:40 pm
Do you know the Jenny Joseph poem ‘Warning’? It begins ‘When I am an old woman I shall wear purple/ With a red hat which doesn’t go, and doesn’t suit me,/ And I shall spend my pension on brandy and summer gloves/ And satin sandals, and say we’ve no money for butter.’ It’s a lovely poem about when she’s older, the speaker will live in an extravagant, eccentric manner, but until then she has to be sensible and reserved.
However, I don’t think age has much to do with it. As others have said here, it’s about allowing yourself to take risks, but you can only do this if you have confidence in yourself. Some find that confidence when they’re just starting out in life at 19 whilst others don’t find it till they retire. I don’t think it’s ever too late to begin living your life in a way that suprises and delights you!
February 13th, 2008 at 11:00 pm
@Chris: I agree. I’m too old only when I’m dead. Things get more difficult with age because of all the commitments, but on the other hand I also become wiser - so I guess the overall balance stays on the positive side.
@Naomi: Thanks for the tip. Too bad I can’t follow it: I’m already too old (27 > 22) and I can’t wait until 65. Who knows if I’ll live that long.
But for anyone who fits that criteria: please take it seriously, because Naomi is absolutely right!
One question though: you write your comment in past tense, so have you figured out a solution to the time usage problem?
@Harri: That’s so cool! Your dad is a real inspiration! What line of business is he in?
I wish more people had that kind of courage.
@Deron: I know exactly what you mean. We just need to keep trying things with the limitations we know have and make the most out of them. After all, these “limitations” are in fact really positive ones :)
@C2162: Thanks for the support, mate! My dream… I guess this blog already holds a big part of it inside. It’s unfolding slowly one post at a time (at the same pace as I find it out myself ;)
But I’m working my way towards it, one small victory (and some small losses every now and then) at a time.
@amypalko: That’s exactly why I didn’t start at 19. I wasn’t confident enough. I guess that’s normal: as you grow older, you learn to know yourself better (your strengths, your weaknesses as well as your desires) and only then you can start exploring all the opportunities life has to offer.
Some people are ready earlier - and that makes some things easier. Some grow slower. That’s just life :)
February 14th, 2008 at 11:01 pm
@Jarkko: My father is renovating old buildings and renting/selling them. He has also bought land on which he’s going to build summer cottages for renting.
Not the most likely business for a man with M.Sc. and over twenty years of experience with mobile networks :)
What inspired me was also the way he did it. He called me one day and said he has been thinking about buying an old house for renovating. About a week later he calls me again and says “oh by the way, I quit my job and I’m on my way to register my own company”. I asked how he could’ve done this kind of a decision in that short of a time and he said “well if you going to do something, you better do it well and focus on it”. With no kids around anymore and life savings, this was possible :)