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Why Entrepreneurship Isn’t Just for Young People

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old entrepreneurs
Joel Brown

“Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.” These are the words of the legendary American author and humorist “Mark Twain“. Age really is nothing but a number and this has been proven time and time again.

Read on as Author & Seasoned Entrepreneur Kevin D. Johnson breaks it down on why Entrepreneurship Isn’t Just For Old People.

 

Entrepreneurship Can Start At Any Age

“I’m too old to start a business,” said my forty-four-year-old friend when I encouraged her to become an entrepreneur. I shook my head as she rambled on about how she has too many responsibilities and how she’s not as creative as she used to be. Her excuses were ridiculous, but all too common for people her age.

As the media focus on young CEOs like Facebook’s Mark Zuckerberg and Instagram’s Kevin Systrom, it is easy to assume that most companies these days are started by teenagers and people in their twenties. Consequently, many older people buy into this media hype and think that starting a company is for young people, accepting that their chances of success are limited by their age. This assumption and the media hype couldn’t be further from the truth.

First, the media hype is heavily focused on the technology sector, which tends to glorify young superstars. When it comes to what is most appealing to the media, the new social media company always overshadows the new bakery on Main Street. However, most new businesses in the United States aren’t tech-related and sexy. They will be primarily sole proprietorships and small businesses with fewer than five employees. Most of their owners will be old enough to a tech guru’s mother or father.

Second, older people are starting more businesses than people in their teens and twenties. According to a Kauffman Foundation study, Americans between the ages of thirty-five and forty-four represented the largest increase in entrepreneurial activity from 2008 to 2009. Americans between ages fifty-five and sixty-four constituted the second-largest jump. The reasons range from middle-aged adults wanting to supplement their income to retired individuals wanting to continue working. Regardless of the reasons, older Americans are catching the entrepreneurial bug, which is good news for everyone. Unfortunately, we don’t hear enough about these exciting data.

Interestingly, research shows that older people are more likely to be successful when they start businesses. Older entrepreneurs have the experience needed to better navigate the rough waters of entrepreneurship. During years of work, they have developed a treasure chest of skills that makes them highly valuable. For instance, if they go into business in the same industry in which they worked for many years, their understanding of the business is a tremendous competitive advantage.

In other good news, University of Chicago economist David Galenson contends that “experimental innovators” require time to reach their peak. His research, which is largely credited with cracking the code of the creative mind, concludes that experimental innovators do their best work in life at an older age. They accomplish their genius through trial and error. Examples of these innovators are Steve Jobs, Mark Twain, and Alfred Hitchcock.

Older people may give a bunch of reasons for saying they are too old to start a business, but they are just excuses, many of which are defended with misinformation. Now we have plenty of data and reasons to support why being in your later years is an asset, not a liability, when starting a business. If you are in your early thirties, forties, or older, it is not too late to start a business. Don’t let your age deter you from pursuing your dream. Ultimately, a solid business idea paired with flawless execution, not a fresh face, is what leads to success in business.

 

CS Lewis Life Inspirational Picture Quote

 

Article originally appeared here: The Entrepreneur Mind 

Make sure you get your hands on Kevin D. Johnson’s Book: The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs

This book is a must have for any aspiring entrepreneur.

 

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

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Why This Gap Exists

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What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

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1. Practice Mutual Empathy

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2. Maintain Professional Boundaries

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3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

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7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

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9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

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  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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