Sunday was another day, another airport and sitting watching my fellow travellers I realised most of the business travellers appeared to be 50 plus.
This started me, as one of these older travellers, wondering where were all the young highflying graduates and hungry 20 – something’s who had dropped out of college to build a dot com dream or set the world alight.
After a little digging on Google, it was apparent that that over the past decade, the highest level of entrepreneurial activity was amongst the 55 – 64 age groups.
Research by the Kauffman Foundation of 5,000 companies started in 2004, discovered that two-thirds were started by founders in the 35 – 54 age bracket. When it came to technology companies in particular, the average age of a founder was 39 ‘with twice as many over the age of 50 as under 25’!
Thought provoking stuff especially when you look at the bright young faces on magazine covers in every airport bookshop who have just created another social media phenomenon but hardly surprising when analysised as an older founder is more likely to have significant experience, greater knowledge, better networks and the financial resources required to start and sustain a new venture.
As much as HR managers and the tech start-up community appear to value youth, it is a bad idea to ignore those who are more experienced and more knowledgeable. Given that the billion dollar markets of tomorrow are unlikely to be found on the consumer internet, experience is more important than ever. So the next time you are networking, do not forget to talk to the person who looks like he could be your dad.