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> We found that the average age of entrepreneurs at the time they founded their companies is 42. But the vast majority of these new businesses are likely small
by alberth 4y ago
> We found that the average age of entrepreneurs at the time they founded their companies is 42. But the vast majority of these new businesses are likely small businesses with no intentions to grow large (for example, dry cleaners and restaurants)
From your first link, this is the key passage.
People are conflating two data points (startup founder and average age of a business owner when they founded their company). The later is a bigger population than the former.
"Startup Founder" is synonymous with growing a business to be huge, so you should exclude founders from the calculation who are NOT attempting to grow a business to be huge.
I imagine when you exclude said individuals, the average age of a "startup" founder to be much younger.
https://hbr.org/2018/07/research-the-average-age-of-a-successful-startup-founder-is-45 https://hbr.org/2018/07/research-the-average-age-of-a-succes...
- marcusverus 4y agoThe article also says: > The average age of people who founded the highest growth startups (i.e. the startups in the top 1% by growth) is 45. So contrary to your intuition (and mine!), the average high growth startup founder, at 45, is older, not younger, than the average "startup" founder, at 42.
- cinntaile 4y agoThis is not that surprising when you think about it. These are usually serial enterpreneurs so they learned from their previous companies and can somewhat evade the mistakes that were made there. In the startup world this usually comes with bigger check sizes too, which can help you grow faster.
- dsq 4y agoTen years to overnight success...
- cercatrova 4y ago> "Startup Founder" is synonymous with growing a business to be huge, so you should exclude founders from the calculation who are NOT attempting to grow a business to be huge. By the YC and VC definition. But we can also go by the indie hacker or bootstrapped definition, making enough money to replace your job and if it's even more, then great, but it's not expected to make billions.
- steve1977 4y agoI‘m very interested in starting my own business, I’m not interested at all in making it huge, at least in terms of staff.
- jdthedisciple 4y agoSame to both
- ww-picard-do 4y agoMost people, not just VC's, would define a startup as a business which is geared for growth. How is a business that just pays the bills a startup? Isn't that just a small business?
- akoncius 4y agoisn't it that all businesses are for growth? apple is expected to grow too, but I would not call it as startup.. I have'nt seen any (except non-profit ones) company which would intentionally claim " we are aiming and loweri g our revenue" or "let's keep it as it is" :)