A Most Startling Stat – 57 the New 37!
If one were to guess the average age of entrepreneurs these days, they’d probably say something like 35 or 40. However, to the surprise of many, including myself, the average age is 57! That’s the most startling thing I learned at an event organized by the Greater Philadelphia Chamber of Commerce which focused on incubators and how they are changing the way entrepreneurs and field experts collaborate. This awareness raising stat was mentioned in the presentation by Thomas Morr, CEO of Select Greater Philadelphia.
What does this tell us? For starters, in addition to the many young, bright entrepreneurs carving their own paths, there must be quite a few of the older to old variety out there doing the same. It could be an indication of larger economic issues, including inadequate retirement funds and a difficult job market for older workers.
But maybe there is a little bit more to it than that. Many people not ready to retire and looking for a third career are casting off the corporate shackles and finally realizing their inner entrepreneur. In my coaching practice I certainly deal with plenty of the latter type, the ones with a driving ambition to finally create, develop and expand their own business and for whom 60 is the new 40 – and who are still thinking what they are going to do when they grow up!
What do you think? What’s your experience?