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Nowadays, most of the entrepreneurs celebrated by media and society are the young, successful startup founders. For example, there have been many adaptations of how social media innovator Mark Zuckerberg went through a load of challenges to bring Facebook to where it is now – all of which started when he was just 20 years old.
Another two of the many famous entrepreneurs who successfully launched their startup at a very young age are Bill Gates, who co-founded Microsoft when he was 20 years old, and the late Steve Jobs, who was 21 when he sold, together with Steve Wozniak, their first Apple I personal computer.
Even Hollywood has stereotyped successful startups as characters who are in their late 20s or early 30s. Partly because there is a common misconception that entrepreneurship is a young man’s game. After all, they seem to have more time, energy, and resources that they can devote to their ventures, especially if they have just begun their business journey.
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Contrary, though, to this belief, history and numbers have shown that “age does not matter” when it comes to entrepreneurial success. Studies conducted by various institutions, including Duke University, the Founder Institute, and the Kauffman Foundation report that the average age when entrepreneurs launched their first business project is 40 years old.
Probably the most famous and one of the largest restaurant chains across the globe is McDonald’s. But a little-known fact about the fast food giant is that it started as a barbecue restaurant in 1940 and was reorganized into a hamburger stand during the 1950s. A 52-year-old man named Ray Kroc joined the company, expanded it into a corporation, and developed the food chain into what it is today. Before that, Kroc was a Prince Castle employee, selling milkshake machine.
Kroc is just one of countless successful business stories that can inspire entrepreneurs to pursue their dreams, no matter how old they may be.