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posted by martyb on Tuesday April 07 2020, @04:47PM   Printer-friendly
from the the-age-of-entrepeneurs-does-not-depend-on-age dept.

Older Entrepreneurs as Successful as Their Younger Counterparts, Study Reveals:

From Steve Jobs to Mark Zuckerberg, the stories of prosperous, young innovators drive the American economic narrative. However, the truth is that older business entrepreneurs may be just as well suited to success. And older women are far more successful at launching a business than their younger counterparts.

Those are among the findings reached by Hao Zhao, an associate professor of management at the Lally School of Management at Rensselaer Polytechnic Institute, in research recently published online in the Journal of Business Venturing.

Zhao and his co-authors conducted a meta-analysis based on 102 independent samples and determined that the rate of success for people who launch a business in their 20s is the same as for those who become entrepreneurs in their 50s. According to Zhao, this suggests that, while younger entrepreneurs are generally more adapt at inventing new technology and making bold moves, their older counterparts have more wisdom, financial capital, and business connections.

Zhao found that older entrepreneurs have slightly higher satisfaction levels and greater financial success than younger entrepreneurs. Their only disadvantage is slightly lower growth rates, an artefact of their companies tending to be larger in size.

Journal Reference:
Hao Zhao, Gina O'Connor, Jihong Wu, G.T. Lumpkin. Age and entrepreneurial career success: A review and a meta-analysis, Journal of Business Venturing (DOI: 10.1016/j.jbusvent.2020.106007)

I agree with their conclusion, do you ??


Original Submission

 
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  • (Score: 4, Interesting) by Thexalon on Tuesday April 07 2020, @07:21PM (1 child)

    by Thexalon (636) on Tuesday April 07 2020, @07:21PM (#980044)

    Namely that for more adventurous investments than index funds and blue chips, they respond to their image of what an entrepreneur should be, rather than actual results.

    As a perfect example, they poured money into Elizabeth Holmes' company "Theranos" despite the fact that the product she was selling them never existed and was scientifically impossible with current understandings of technology. But Holmes worked hard at mimicking the image of Mark Zuckerberg and Steve Jobs, and managed to fool people for a very very long time.

    I've even encountered entrepreneurial types that when faced with statements by knowledgeable people that amount to "what you're selling cannot exist without decades of science we don't have", respond with "Fantastic! That's a perfect business opportunity!" These people are delusional and should not be in charge of picking the next great thing, but that's exactly what position they're in.

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  • (Score: 2) by captain normal on Wednesday April 08 2020, @12:20AM

    by captain normal (2205) on Wednesday April 08 2020, @12:20AM (#980150)

    "I've even encountered entrepreneurial types that when faced with statements by knowledgeable people that amount to "what you're selling cannot exist without decades of science we don't have", respond with "Fantastic! That's a perfect business opportunity!"
    Sounds like a certain real estate salesman who turned politician. Out selling hydroxychloroquine as a miraculous cure for Covid-19. Of course that politician holds big shares in a company that makes hydroxychloroquine.
    “So what do I know?” he conceded to reporters at his daily briefing. “I’m not a doctor. But I have common sense.”
       

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