Are startups a young man’s/woman’s game? No. We have made 24 investments of which 5 of them have CEO’s who are over 45 with families. That said, being young is definitely an advantage:
You don’t need much money. At the early stage of a startup you’re probably on a low or even no salary. It helps if your personal expenses are low. Overhead like kids, a mortgage, a stay at home spouse, etc, will severely limit how long you can go without a salary.
You have more time. You can’t be successful in your personal life without committing significant time to the people in your life who are important, so the best time to launch a startup is before these people come into your life. Being young, single, and free of dependents gives you more time to focus on the business.
You’re naïve. Being older generally means you have more experience which will jade you and make you too cautious to take the risk of starting something great. Paul Allen, co-founder of Microsoft, put it best in his book Idea Man: “If we’d been older or known better, Bill and I might have been put off by the task in front of us. But we were young and green enough to believe that we just might pull it off.”
You’re never too old to start a business, but being young helps.
Visit us at blossomstreetventures.com and email us directly at firstname.lastname@example.org. All founders welcome! We invest in companies with run rate revenue of $2mm to $30mm, with year over year growth of 20% to 50%+ depending on revenue. We lead or follow in growth rounds and special situations like inside rounds, small rounds, rushed rounds, corralling investors with our term sheet, bridges, inbetweeners, cap table clean up, and founder secondary. We can commit in 3 weeks and our check is $1mm to $2mm. Email us!