Does Age Matter for Startups?
Want to start your own business? Thenwhy you’re waiting for? It is never too late to start a new thing! Read this article and know the ideal age to be an entrepreneur! Go for it guys!
Right Age to Start a Business!
Age is just a number to try something new! To be a successful entrepreneur you need a lot of experience, knowledge, passion, maturity, hard work and the most important thing patience.
If you’re planning to start your own company from 20s, that’s perfectly fine, with right kind of support and ecosystem, you can do great. Only fact is you need to know a lot, it’s not about starting a start-up it’s being successful, don’t rush first try to understand the whole process may be you’ll become unsuccessful first but don’t give up! First get basic education, work on some process , build your network, save some “Seed Money or funding”, Start your own business.
You might ask is 30 too late to start own business. Mid-Age will be perfect for a startup. If you start it in 30s-40s or in 50s you’ll be more experienced and matured enough to run the business, but sometimes, with this age, if you have moved from a employee position to employer, sometimes there is a extra layer of aura, which sometimes act as ego. The way you used to work in a company, and the way now you are working – is changed. Execute your plans properly for a successful business.
45-50 is the average age to start a new business if you have more confidence and knowledge you can start at around 52-55. It completely depends on how confident and capable you’re to be successful in it! The advantage to start it in 40-50 is that you know how to utilize your ups and down experience which you have gone through in your life but young entrepreneurs don’t know how to overcome this. Before start your business financial checkup is important. To be more successful senior/junior partnership is needed. Hire some well-experienced women because according to a study women have more successful record in business than men.
If you’re planning for a Startup follow these Financial Tips:
- Management of Cash flow is important
- Track and keep a record and monitor all expenses
- Limit and make your spending low at the beginning
- Keep your emergency savings
- Keep a financial goal and be ready for every situation
Best Business to Start in 2020 between 30 – 40 or 50!
Technology, Foodtech, Organic Agriculture, Online Courses, Online Coaching, Podcasting, Own Online store, Graphic Design, Web Designing and coding, YouTube Business Ideas, Business Consulting, Event Planning, Video Production, Photography, Event Space, Interior Designing, Clothing Boutique, Jewelry stores both online and offline, Restaurant or Café, Ice Cream Shops, Interpreter or translator, App Development, Tax Consultant etc.
Follow these Steps While Starting your Business:
- Know your interest first and with which you’ll be comfortable
- Conduct Market Research before start planning
- Write your whole business plan and also plan for the future
- Funding for business is important and set a financial goal
- Pick a best location for your business
- Select a perfect name that will reflect your business
- Follow all the legal formalities or procedures before you start it
- Register your business with federal or state government
- Open a bank account for your business
- Build your Team
- Get an insurance policy
- Advertise your business
- Make your goal, follow and track it
- Grow and build your Business
Some Good and Bad Sides of Starting your Own Business:
Disadvantage: You have to take Financial Risk, Stress is another thing you have to carry until you get success, No time limit is fixed for you to work, Unsuccessful marketing initiatives, No one will guide you, Your income will not be guaranteed and Planning for a vacation will be difficult.
Advantages: Independence, freedom will be yours because you can do whatever you want, Financial Rewards, Gaining or knowledge and experience, Personal Satisfaction, You’ll be your own boss, you can decide your own time, earning more money than a normal job, You’ll earn prestige and will get opportunities, by creating your teams you’ll provide jobs to multiple people who needs it, once you get success you will be satisfied for fulfilling your dream!
Follow these steps and prove that age is really a number when it comes to Entrepreneurial Success! Hope you’ll find this Article helpful! Stay connected with us for our next updates! Till Then Goodbye!
