Many years ago it was easy for a twenty-something to get discouraged.
Plenty of the world’s greatest entrepreneurs were older. They had put in their time, paid their dues and now they were reaping the rewards. It appeared that the older you were, the more power you had.
But that’s not the case anymore. Twenty-something’s are emerging and they’re utilizing technology to dominate their industries and change the business landscape. The power is reversing and twenty-something’s are now better suited to start a business than anyone else.
There are a few major reasons why. Read on to find out:
1. Less Responsibilities
Aspiring entrepreneurs in their thirties and forties are most likely married with kids and have a plethora of expenses. From a mortgage, to car payments, to staggering grocery bills, older people have numerous obstacles to overcome. The 21-year old aspiring entrepreneur most likely has none of these obstacles. But that is not to say they have no responsibilities.
Rent, health insurance, and student loans are common responsibilities of a twenty-something. All of these should be accounted for when starting a business. Saving lots of money or treating your business like a side-hustle are two very effective ways to deal with these responsibilities. The difference between the older person and the twenty-something is there responsibilities don’t carry the same weight. As an older person, your grocery bill determines whether or not your kids eat. Your mortgage payment determines whether or not your kids can sleep comfortably.
You have more people to care for when you’re older so it becomes more challenging. If a twenty-something decides to leave their job to pursue their start-up full time they don’t have to worry about the well-being of their entire family. They can just focus on the task at hand.
2. Less Excuses
With fewer responsibilities there are fewer excuses. When you’re twenty-five, you can’t use the “I’m too old” excuse. In fact, you can’t use a large portion of the excuses someone older than you could. With less responsibility there are less mental barriers standing in your way. The older you are, the more excuses you can use. From a family to feed to legitimate health problems, you have more things to worry about.
3. You Can Hit the Reset Button
If you’re older and you go all in on a big project and fail, it’s going to be tough to recover. Building funds back up and hitting the rest button takes a while. But if you are young, you have the time. No failure is too big to recover from as a young entrepreneur. You have time on your side. Just brush yourself off and say “Oh well, I’ll try again!” The extra time means the younger you start, the more chances you will have to learn and grow as an entrepreneur.
4. Naturally Healthier
You can be healthy at any age, but it’s tougher as you get older. It’s just a fact of life. A twenty-something has higher energy levels and more gas in the tank. If a twenty-something needs to work 14-hour days, they can do it. If a twenty-something needs to live on Ramen Noodles for six months, they can do it. If a twenty-something needs to pull an all-nighter to finish up a project, they can do it.
There recovery time is minimal and their determination is boundless.
5. Nothing is Impossible
From day one, we are bogged down and told to be “realistic.” The twenty year-old has only heard this nonsense for twenty years. The fifty year-old has had to hear it for fifty years. The longer you are around, the easier it is to believe. For the twenty-something’s, there is still a strong sense of possibility.
Nothing is impossible. This leads to higher levels of ambition and larger risks taken.
The World Has Changed
Ten years ago, it was extraordinary for a twenty-something to dominate their industry. They’d be considered an anomaly. But that’s not the case anymore, twenty-something’s are starting businesses and succeeding at a rapid rate. You don’t have to be in your forties and fifties to be a CEO anymore. Starting a business at any age is highly encouraged and extremely possible. Since the internet age has emerged, there is no barrier to entry.
Twelve-year-old app developers can make thousands of dollars.
Nineteen-year old college kids can start a business called Facebook.
Twenty-something’s everywhere now have an open world. You can communicate with anyone and be heard.
You don’t have to worry about being judged for your age in this new world. You can conquer your industry and take advantage of the changing landscape. Reap the opportunities and create a flourishing business.
Kevin Cole is a writer & entrepreneur at The Mental Playground delivering practical advice on how to navigate the most complex organism known to man: Your Own Mind.
Image Credit: trehops.com