Ususally startups are for "younger people" because they can easily change and adapt themselves to a startup enviroment like go the extra mile, more work, frequent changes, learn new things, sometimes do things that can really go out you spectrum of work etc... instead someone older might have a family to maintain and therefore needs stability and safety for his job. But if this doesn't apply to you for whatever reason I do not really see any reason why you wouldn't fit.
Anyone who doesn't necessarily need to be paid for many months more than a pittance can do a startup.
Most families with 2 tech-type incomes currently who control their spending to something reasonable can have one of the two do a startup. You might have to move to a cheaper place if your rent/mortgage is too high, but other then that, you're probably in a BETTER place than most 20 somethings, who have no safety net.
I say never too old, but be prepared for the long haul. Many startup opportunities that would jumpstart your business favor the younger entrepreneurs with less to lose and/or less responsibilities.
There's also supposedly an overall bias against us geezers in startups but I can't speak (much) to that.
....and I'm sure ( being the wise old man that you are ;) ) you'll gladly take being a 35 year old millionaire. That "billionaire at 20" stuff is great, but it's also glitz.
Why would you be old for something you want to do, and can do. If you asked me, "Am I too old to be a Wimbledon Champion" I'd say, yes. Don't get fooled by the media.
I think it has less to do with age, and more to do with family status. Being 23 and a family is just as bad as 40 with a family. A 22 year old with no family is as good as a 45 year old without a family. Once kids and a wife/husband enters the picture, things change greatly. If you really want to take a crack at being a entrepreneur, do it before 'settling down'.
I was a moderately successful founder at 27 ... Now I'm 39 and while I'm much more experienced, I have also become a little impatient, something I consider very dangerous for a startup. Are you impatient too?
Being over 31 just means you didn't win the lottery.
The vast majority of us are simply going to make a living, a DAMN good living, but still something small where we own a house, have a family and maybe a vacation home in Arizona.
Startups aren't just for young people because they can (apparently) work 24-hour-days. That's a failed assumption and part of the Silicon Valley Echo Chamber.
You want to create a startup? Go for it. If you are an experienced professional then being in your 30's means you'll have more 'adults' willing to listen to you, you'll have more contacts in the industry willing to sign up to your product, and you'll have a larger spectrum of knowledge to know when to cut your losses or when to quit your dayjob and go all in.
Side discussion - "And I want to be the next Steve Jobs."
These type of statements always irk me. I have no evidence to support my claim but I suspect that Bill Gates, Steve Jobs, Mark Zuckerberg, etc. rarely publicly stated they want to "be the next XYZ". Rather they had a vision to _do_ something bigger. For example, Gates' vision was to "put a computer in every home". These types of realities take decades, not just years. Most people can't think this far ahead.
That bugs me too, even more so when I hear it from VC or their brethren, because it seems like they should know better.
Steve Jobs was not the next Bill Hewlett; Elon Musk is not the next Steve Jobs; Google was not the next Apple; Facebook was not the next Google.
The only thing those all share in common is that they were the next big thing. Although you can use those examples as aliases for "the next big thing", they'll tend to change the traits that you're looking for. If you're looking for "the next Mark Zuckerberg" for instance, then it's easy to let yourself get trapped into looking for someone with Mark Zuckerberg-like traits -- and then you'll miss the next big thing, because that person isn't going to be "the next Mark Zuckerberg".
I have almost 10 years on you. I started my first business at 23, and sold my 5th 4 years ago before starting this one.
In my 20's, I was smart enough to know everything, and it cost me a lot of learning. Those entrepreneurs have advantages, mind you. A single minded purpose, a refusal to accept the status quo, and the notion (by investors) that you can be trained, molded, and focused.
In my 30's, I was smart, and chasing validation, victories, crushing competition of all shapes and sizes, and basking in the glory of success. I achieved some cool things, I spent a boat load of money on stupid stuff, and I started to learn how to be an adult.
I'm now at the beginning of my 40's. I understand far more. I piss off far fewer people, and I have a wisdom that propels me towards happiness and fulfilment, but I still have a fierce hunger for success, crushing competition, and tearing a hole in the status quo.
Now, however, I know exactly how to do it. I make far fewer mistakes, build bridges instead of walls, and have a rolodex filled with decision makers, allies, and mentors.
I work, constantly. Booze, women of questionable morals, and flashy toys don't have the allure they once had. I get shit done, and leave the chest thumping to the kids.
The spin on young founders comes from a different world, and it's not altogether wrong, but it requires a 500 Startups approach (invest in a bunch and hope a few make it).
Older founders have a much higher rate of success, if they can handle the psychological pressures that come with it.
If you're doing it to get rich, you'll most likely fail. If you're doing it for a lifestyle, the odds are stacked against you. If you're doing it to be cool, well, save yourself some money and buy a Mazerati.
If you're doing it because you have an obsession with the problem, and you can't sleep because you need to see it solved, and you can enlist others to be soldiers in your army to fight this obvious injustice/inefficiency, then you have a very strong chance of success.
Don't be a founder just to check it off your bucket list, do it because you have no choice but to follow/create your destiny.
Do a startup, see if it works. If you're doing anything else, or thinking of doing anything else, then no matter what age you are, it's probably wrong for you.
Yes, you're too old. You should just find some comfy corner, curl up, and die.
Now that the pity-party is over, let's focus on reality. One is NEVER too old to found a startup. And the fact of the matter is, there are many more startup founders (both technical and non-technical) over 30 than under.
Take a look at these links, and ask yourself again if you're too old:
Well off the top of my head at least two of the people on your list had earlier successes than the ones you listed.
Ev Williams did Twitter, but did Blogger before.
Elon was 28 with PayPal
Probably not the best examples you could have chosen. It is like saying Bill Gates wasn't a success until he was in his fifties because it wasn't until then that he started the Gates Foundation.
I didn't choose the examples; just reposted them from the Techcrunch article.
As for Williams and Elon, true. But they did continue starting companies. Is there a difference in a first-time startup and follow-ups? Sure. Better networks; experience breeding efficiencies; reputation opening doors.
But the risk and the hard work (generally) are still there. Not too mention expectations of others and yourself from previous success can be the biggest hurdle faced. Been there, done that.
The point remains the same though. Startup founders are all ages, and there are many more 30+ founders out there than are trumpeted by the media. This is especially true in the non-technical startup realm.
The desire to want to just "make it" seems deeply wrong-headed to me. Granted, I don't own a company so this may be one of the many times that I am wrong, but it seems like a pretty important characteristic would be having a particular product or vision you are passionate about.
And deeply wanting to be a "reluctant billionaire" seems contradictory. All that said, good luck to the guy. I sincerely hope I'll get the chance to eat crow on this one.
Others here express a dissimilar sentiment: the only durable reason to start a company, is because you want to start a company. If you're passionate about that, you have a better chance of getting the business side right.
"but it’s just not as cool to be a 35 years old millionaire now days when there are 24 years old billionaires running around."
If you actually meant that, I'd say you're too immature. Honestly it's about making money, or changing something you care about in this world. if you want to be a founder because it's fashionable well ...
Ray Kroc bought McDonalds and grew it to a massive empire when he was 61. Read his book Grinding it Out.
Frank Lloyd Wright was broke several times in his life and considered through by the architectural establishment. He was 68 when he designed Fallingwater, one of the great homes every built.
29 comments
[ 2.9 ms ] story [ 77.8 ms ] threadMost families with 2 tech-type incomes currently who control their spending to something reasonable can have one of the two do a startup. You might have to move to a cheaper place if your rent/mortgage is too high, but other then that, you're probably in a BETTER place than most 20 somethings, who have no safety net.
I say never too old, but be prepared for the long haul. Many startup opportunities that would jumpstart your business favor the younger entrepreneurs with less to lose and/or less responsibilities.
There's also supposedly an overall bias against us geezers in startups but I can't speak (much) to that.
....and I'm sure ( being the wise old man that you are ;) ) you'll gladly take being a 35 year old millionaire. That "billionaire at 20" stuff is great, but it's also glitz.
The vast majority of us are simply going to make a living, a DAMN good living, but still something small where we own a house, have a family and maybe a vacation home in Arizona.
Startups aren't just for young people because they can (apparently) work 24-hour-days. That's a failed assumption and part of the Silicon Valley Echo Chamber.
You want to create a startup? Go for it. If you are an experienced professional then being in your 30's means you'll have more 'adults' willing to listen to you, you'll have more contacts in the industry willing to sign up to your product, and you'll have a larger spectrum of knowledge to know when to cut your losses or when to quit your dayjob and go all in.
http://www.thedailybeast.com/newsweek/2010/08/20/innovation-...
Also, YC has plenty of founders over 30: http://blog.zencoder.com/2010/09/21/doing-y-combinator-in-yo...
Personally, I founded my first company in YC when I was 30 (Parse).
Side discussion - "And I want to be the next Steve Jobs."
These type of statements always irk me. I have no evidence to support my claim but I suspect that Bill Gates, Steve Jobs, Mark Zuckerberg, etc. rarely publicly stated they want to "be the next XYZ". Rather they had a vision to _do_ something bigger. For example, Gates' vision was to "put a computer in every home". These types of realities take decades, not just years. Most people can't think this far ahead.
Steve Jobs was not the next Bill Hewlett; Elon Musk is not the next Steve Jobs; Google was not the next Apple; Facebook was not the next Google.
The only thing those all share in common is that they were the next big thing. Although you can use those examples as aliases for "the next big thing", they'll tend to change the traits that you're looking for. If you're looking for "the next Mark Zuckerberg" for instance, then it's easy to let yourself get trapped into looking for someone with Mark Zuckerberg-like traits -- and then you'll miss the next big thing, because that person isn't going to be "the next Mark Zuckerberg".
In my 20's, I was smart enough to know everything, and it cost me a lot of learning. Those entrepreneurs have advantages, mind you. A single minded purpose, a refusal to accept the status quo, and the notion (by investors) that you can be trained, molded, and focused.
In my 30's, I was smart, and chasing validation, victories, crushing competition of all shapes and sizes, and basking in the glory of success. I achieved some cool things, I spent a boat load of money on stupid stuff, and I started to learn how to be an adult.
I'm now at the beginning of my 40's. I understand far more. I piss off far fewer people, and I have a wisdom that propels me towards happiness and fulfilment, but I still have a fierce hunger for success, crushing competition, and tearing a hole in the status quo.
Now, however, I know exactly how to do it. I make far fewer mistakes, build bridges instead of walls, and have a rolodex filled with decision makers, allies, and mentors.
I work, constantly. Booze, women of questionable morals, and flashy toys don't have the allure they once had. I get shit done, and leave the chest thumping to the kids.
The spin on young founders comes from a different world, and it's not altogether wrong, but it requires a 500 Startups approach (invest in a bunch and hope a few make it).
Older founders have a much higher rate of success, if they can handle the psychological pressures that come with it.
If you're doing it to get rich, you'll most likely fail. If you're doing it for a lifestyle, the odds are stacked against you. If you're doing it to be cool, well, save yourself some money and buy a Mazerati.
If you're doing it because you have an obsession with the problem, and you can't sleep because you need to see it solved, and you can enlist others to be soldiers in your army to fight this obvious injustice/inefficiency, then you have a very strong chance of success.
Don't be a founder just to check it off your bucket list, do it because you have no choice but to follow/create your destiny.
Best of luck.
Now that the pity-party is over, let's focus on reality. One is NEVER too old to found a startup. And the fact of the matter is, there are many more startup founders (both technical and non-technical) over 30 than under.
Take a look at these links, and ask yourself again if you're too old:
http://www.quora.com/What-is-the-average-age-of-founders#
http://techcrunch.com/2011/05/28/peak-age-entrepreneurship/
TL;DR:
Ev Williams, Twitter: 35 in 2007
Jeff Bezos, Amazon: 30 in 1994
Reid Hoffman, LinkedIn: 35 in 2002
Elon Musk, SpaceX: 39
Quite moping around and build something.
Ev Williams did Twitter, but did Blogger before. Elon was 28 with PayPal
Probably not the best examples you could have chosen. It is like saying Bill Gates wasn't a success until he was in his fifties because it wasn't until then that he started the Gates Foundation.
As for Williams and Elon, true. But they did continue starting companies. Is there a difference in a first-time startup and follow-ups? Sure. Better networks; experience breeding efficiencies; reputation opening doors.
But the risk and the hard work (generally) are still there. Not too mention expectations of others and yourself from previous success can be the biggest hurdle faced. Been there, done that.
The point remains the same though. Startup founders are all ages, and there are many more 30+ founders out there than are trumpeted by the media. This is especially true in the non-technical startup realm.
And deeply wanting to be a "reluctant billionaire" seems contradictory. All that said, good luck to the guy. I sincerely hope I'll get the chance to eat crow on this one.
If you actually meant that, I'd say you're too immature. Honestly it's about making money, or changing something you care about in this world. if you want to be a founder because it's fashionable well ...
Ray Kroc bought McDonalds and grew it to a massive empire when he was 61. Read his book Grinding it Out.
Frank Lloyd Wright was broke several times in his life and considered through by the architectural establishment. He was 68 when he designed Fallingwater, one of the great homes every built.