Happy Thursday All! I often think about the following question….Is there a Perfect Age to Start a Business?
The simplest answer would be, “No.” This is exactly why I want to share with you some interesting facts about starting a business and give information about people who have had great success with starting businesses at different ages.
Statistics show that the average age of thriving businessmen in the USA falls between 40 and 45 years old. While that is the common age for starting a business that does not mean it is the perfect age.
Even if you are in your teens or early twenties, and even if you are already on your fifties or sixties, you can still start a business and succeed. Here are some great examples of youths and seniors who have gotten acclaim, even though they are far too young or already too old than most businessmen of their and our times:
- Harli Jordean—Eight years old. The world’s youngest businessman wanted a wider, more varied collection of marbles and established a business based on this hobby.
- Mark Zuckerberg—The Facebook Founder and CEO; Mark, along with four classmates, started the social media empire in 2004 in their Harvard dorm. Within three years’ time, Zuckerberg grew Facebook into a billion dollar booming business.
- Catherine Cook—Known to many as the “female Mark Zuckerberg,” Catherine, with help from her brother, David, created MyYearBook.com at the tender ages of 15. By the time she reached 16 years old, her website has acquired more than a million users.
Senior Success Stories
- Colonel Sanders—Started the Kentucky Fried Chicken at the ripe age of 65 years old, and look how successful it has become.
- Ray Kroc—Founded McDonalds. Ray Kroc is a regular door-to-door salesman. But when he found a burger stand when he was 53, he decided to franchise and eventually buy that business instead.
4 Things to Remember When Starting a Business
If you are thinking of establishing your very own business but does not know where to start, then let me give you these simple small business tips:
- Know Your Niche—You must have a thorough knowledge and, ideally, experience with the niche you want to target.
- Have a Plan—Once you have determined your niche, it is now imperative for you to create a marketing plan. If you are not sure how to create one, then I urge you to read my previous post, “5 Steps to Create a One-Year Small Business Marketing Plan.”
- Gather Your Business Necessities—It does not matter if your business is established online or offline; there are always things you will need for your business to run smoothly. For offline businesses, licenses, permits, tax identification, and a business are just some of the things you need to get. For an online business, purchasing a domain name, website, and some software as well as the creation of social media profiles will be vital.
- Follow the News and Trends—Nothing is permanent except change itself. That is why it is crucial for you to stay up to date when it comes to the goings-on in your field. You can do that by reading news, joining communities, and frequenting blogs that follow and talk about your niche with fervor.
Do not believe people when they say, “It’s not the right time to start a business.” If you have the guts and the wits and if you follow the tips I shared with you today, you can start a business right away. Do not think about your age, and just do it. Remember, a thousand-mile journey starts with a single step. Make it a great day everybody!