2. Risk tolerance

Let’s face it: Not all startups are going to make it.
You need to be realistic, regardless of your age. Starting a business
demands a lot of up-front investment, in both time and money, and you’ll
bear significant risk, in both your finances and your current or
“backup” career.

Just as happens in the financial markets, the younger you are, the
better you’re going to be able to tolerate that risk. You’ll have fewer
responsibilities, fewer commitments and much more time to make up any
losses you incur. Therefore, starting a business as early as possible
mitigates your potential losses.

3. Energy and motivation

It takes a lot of work to run a startup, too.
Don’t forget that. Though not written in stone, the general rule is
that younger professionals have more energy, motivation and enthusiasm
than their elders.

Maybe you’ll be a youthful spirit for the next several decades, but
the thing is, you can’t know for sure. What seems like a solid “maybe”
idea now may become a “no way” idea in 10 years; and the work you throw
yourself into now may be work you’ll avoid at all costs next decade.

Every year, your energy and motivation will decline. Take advantage of these personal assets while you have them.

4. Adaptability

Younger people tend to be more adaptable. Part of the reason is that
they’ve had a shorter amount of time to be exposed to the norms and
rules of the professional world, and are less committed to those
entrenched ideals.

An even larger part of the reason is our unique technological age; we face major technological disruptions on a regular basis, and the only way for companies to survive is to adapt and integrate these new technologies.

In your 20s and 30s, you’ll stand a better chance of recognizing and
incorporating these new technologies quickly; and as you get older, the
rate of development for these technologies will grow even faster. So,
start a business while you’re more nimble, and you’ll be able to brave
ever-more volatile waters.

5. Serial entrepreneurship

Most entrepreneurs who truly love entrepreneurship end up starting
multiple businesses, becoming serial entrepreneurs in their own right.
It’s as if they were born to be entrepreneurs.
And, for the most part, every new business these young people start
is better than the last, thanks to their founders’ previous experience,
growing list of contacts and broader perspective.

Starting your first business when you’re in your 20s or 30s sets you
up for a longer period of time to start even more businesses;
essentially, you’re maximizing the potential experience you can gain,
and greatly increasing the number of businesses you can start. Don’t
throw away that potential by waiting around. If you need help getting
started, grab this eBook.

None of these reasons is meant to imply that you can start a business
only when you’re in your 20s and 30s, or that if you’re in your 40s or
over, you’ve missed the boat.

On the contrary, older entrepreneurs often carry more experience and
decision-making abilities and are extremely capable of building
effective businesses.

However, the unique blend of advantages that younger adults have
makes this phase of life a highly strategic time to start up a business.

If you’re in your 20s or 30s, and the thought of entrepreneurship has
entered your mind more than once, don’t write it off as a pipe dream.
Dig into some research, explore your ideas and make the most of your
youth by pouring your energy into a business. No matter how things
turn out, you’ll be glad you did.