I’ve been reading quite a bit lately about how we’re all given the perception that you have to be male, white and–in particular–young to start a hugely successful business. Specifically, I’ve been reading a lot of articles and books in which the authors say this is not so, and that these ideas that are perpetuated about successful entrepreneurs are damaging to different demographic groups.
This article presents a paper, a survey and quotes that focus on “older” entrepreneurs and women entrepreneurs.
Some gems:
“We…find no evidence to suggest that founders in their 20s are especially likely to succeed. Rather, all evidence points to founders being especially successful when starting businesses in middle age or beyond, while young founders appear disadvantaged.”
“[W]e found that work experience plays a critical role. Relative to founders with no relevant experience, those with at least three years of prior work experience in the same narrow industry as their startup were 85% more likely to launch a highly successful startup.”
“With their greater work experience and confidence, such [midlife] women are more likely to see opportunities for a new business — customers whose needs are not being filled and gaps in product categories,” Eddleston said. “In turn, their work experience often gives them the networks to successfully launch a business at this career stage. They also often have the financial resources to support a new business.”
