Dan Morel tossed out an interesting thesis that single people shouldn’t do startups, mostly because it’s difficult to have a relationship, fun or hobbies because you’re so engrossed in running the business.
I don’t agree with Dan because when you’re single, you have things that couples (particularly those with children) don’t have: time, energy, spontaneity and nothing to lose given many younger people don’t have mortgages hanging over their heads.
But Dan’s post did get me thinking about whether older people can do startups, or whether it’s a young person’s game.
Does someone who is more than 50-years-old, for example, have the energy, creativity and drive to devote themselves to a startup? At a time when they might want to be gearing down or, at least, not looking to work long hours, does a start-up make sense personally or professionally?
For many people within this demographic, the above might ring true but I also think there are many older people who are totally startup-friendly. Here are a few reasons:
1. They have a wealth of experience from working with a wide variety of people and companies.
2. They have pretty extensive networks that can be leveraged to open doors for a startup from a marketing and sales perspective.
3. If they have children, they’re probably older so the domestic demands have declined other than the need to spend quality time with their offspring.
4. They may be more financially stable after having had a few decade to invest, buy a house and establish a solid retirement fund.
5. No one really retires so older entrepreneurs are probably just as motivated to succeed financially as a younger entrepreneur.
6. There’s no job security these days so there is less risk in joining a startup than there might have been.
In an ideal world, startups employ people who are young and single, married with children, and more seasoned because they bring different skills sets, attitudes and energy to the mix.
Startups aren’t a young vs. older person proposition, they’re about good ideas and execution. There’s no age limit (young or old) to make that happen.
At a dinner party last night, there was an animated discussion about social media, which included how teenagers and children use social media in ways their parents would consider unthinkable or strange.