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Entrepreneurship has no age! It’s never too late to get started, states Dr Somdutta Singh

Never let age define who you truly are. Your experience and expertise are what matter most. Build yourself a diverse and kickass team

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Do you think age determines entrepreneurial success? Hell no!

Not just entrepreneurship, any business for that matter, flourishes because the founders have the expertise, aptitudes and support system essential to build a sustainable business, not because they have a longer or shorter runway in life. Entrepreneurship characterizes an attitude, a set of actions which can transpire at any age across the developmental continuum, from one’s early years to late adulthood.

Often perceived for the younger troop, entrepreneurship or business success does not factor in on age of the one running the business who’s getting started with pursuing their dreams.

Gordon Bawker founded Startbucks when he was 50, celebrated editor of Vogue, Vera Vang chose to become a fashion designer at 40 and who can forget Colonel Harland Sanders, founder of Kentucky Fried Chicken who was finally recognised worldwide as a businessman when he was way in his 60s?

When it comes to entrepreneurship, there is no age. It's never too late to get started. Period! 

Yes, with young entrepreneurs, energy, long tern returns and quick adaptability are on their side, but older entrepreneurs make up for all this with the experiences they have gained over the years. Good ideas can come at any time, no matter what the age and accomplishment cannot be influenced by age. Globally, over the years, it has been viewed that mature entrepreneurs are more proficient at developing robust businesses, which is particularly vital during times of uncertain economic growth such as the current global pandemic situation we are witnessing.

With experience and age, there are other benefits also that come along. Elder founders find it easier to obtain the right skillsets, acquaintances and industry specific knowledge which can be applied and is central to a new business. They also have better access to economic resources, profounder social networks and easier acquisition of hard and soft skills.

Deliberating on your idea and proficiency is what really matters when it comes to effective entrepreneurship.

Take this for instance. It took Falguni Nayar 58 years to shift her trade from being an investment banker to building a beauty empire and have a blockbuster debut on the stock market in November last year.

Expended with a profession as a model and then raising children, lifestyle mogul Martha Stewart was in her late 30s when she built her first business in catering. Like they say, the rest is history.

Irrespective of entrepreneurship or not, there are a million facets of work and life experiences that can be applied onto something new, in this case, founding a brand-new business or engendering a creative breakthrough. However, to start-off with a new business after a certain age, even as a veteran professional, one has to often savour letdown. But, each failure imparts the significance of being equipped and the prerequisite for a contingency plan, an inevitability most businesses witnessed as the pandemic trickled in.

My grandmother has always told me, “The secret recipe for triumph may just be – a belief, an inspiration and a valiant heart!” Entrepreneurship is not about age and neither is it about a one-size-fits-all endeavour. It is about being dedicated, working hard and never giving up on your dreams. For me, age has always been just a number and is my super strength I take in my stride, not a deterrent. If you look at it the other way around, venturing onto something new has never had an expiry date. Entrepreneurship is merely a chance to produce something novel of immense value from scratch, from nothing.

Pro tips. Never let age define who you truly are. Your experience and expertise are what matter most. Build yourself a diverse and kickass team; you cannot do everything yourself. Be passionate, you’ll find the way. What only matters is your team and your self-advocation.

I would like to end my thoughts with a quote by Mark Twain, “Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.”

 

(Brand Desk Content)

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