I posted recently to Facebook…
“19 year olds have nothing to teach us.”
Not everyone agreed.
What motivated the post is i’ve noticed a universal belief that the world’s biggest problems will be solved by young school drop-outs. So if, like me, you’re more than a couple of decades older than the threshold or managed to complete an academic program you started…
…perhaps the odds are stacked against us?
Is it possible that we missed the boat, passed our prime?
Should we throw in the towel and let the young dropouts show us the way?
I’ve never been curious enough to look into the statistics until today while researching this email…
According to a Statista study, the average age of first-time millionaires is 37. And there are only 10% of first-time billionaires who’re under 50!
Not only that, of the Forbes 400 list, around 80% are at least college educated and a good portion of them hold graduate degrees.
So if we go by statistics alone, you and i are in good shape.
While statistics are NOT predictors of anyone’s individual success or failure, they do prove that young drop-out billionaires are more of an anomaly than a rule.
There are obvious reasons why older entrepreneurs historically earn more than younger. And why you shouldn’t let your age get in the way of becoming an entrepreneur.
First, you’ve gained wisdom, experience, and skills and had time to perfect them.
Secondly, you’ve probably worked and specialised in some area of business for a long time which puts you in a unique position to understand specific problem areas in something few others know about…and you probably have some intelligent ideas about a solution. You also probably have some contacts with customers and vendors and have a reputation in your area of specialty that can jump start a related business.
Thirdly, do keep in mind that while there are a handful of young billionaires…most were NOT billionaires when they were 19.
Rather, they had a track record of success before and reached their first billion in their 30s or beyond.
Bill Gates (Microsoft) had his first million at 26 and first billion at 31. Larry Page (Google) was a millionaire at 25 and billionaire at 30. Elon Musk (Tesla) was a millionaire at 27 and billionaire at 41. All EXCEPTIONAL, rare people…but even they prove that it takes TIME, maturity, experience to become wealthy.
Fourthly, although some billionaires are “dropouts” most were not academically incapable, lazy, or stupid people.
They were super smart. They got into top schools, were always high achievers, and only dropped out of an academic program when business made more sense than the tried and trodden path.
Elon Musk is sometimes referred to as a “dropout”…he, in fact, dropped out of a PhD program! Which doesn’t really make him a “drop out” at all…in fact, he merely re-thought his decision the next day after enrolling.
Even those who transitioned from careers into business like Jeff Bezos (Amazon) or Brian Chesky (AirBnB) had track records of excellence as employees.
The point is, it is a MYTH that young “dropout” entrepreneurs are more likely to succeed. In truth, they are so unlikely to succeed, that we’ve sensationalised their stories because they’re exciting to hear about.
But the fact that we only hear those stories makes it seem like this is the norm when it is not.
Today, there’s more glory in saying you’re an entrepreneur (nevermind you’re broke) than to say you work a respectable 9-5 job.
More glory to talk about college education being a waste of time and money, than to be well educated.
In internet marketing, a field filled with hype, fear-mongering, and conspiracies…
It’s cool to showcase unlikely people who gain a sudden, overnight fortune.
But this is all theater.
Success in entrepreneurship comes down to experience, skill, and knowledge. Ultimately, we make money by providing some kind of value to the world.
The more value we create, the more we get paid.
Now, if you haven’t been around that long…or you didnt finish highschool or college BECAUSE you were too lazy or too dumb for it or you have a track record of failure and of giving up on everything you begin…
…You’re less likely to HAVE value to offer.
Therefore, you’re less likely to be successful as an entrepreneur.
Plus, when you’re older, you tend to make more calculated, thoughtful decisions.
While this can work against you if you avoid taking ANY action for fear of failure…a bit of patience and thoughtfulness certainly avoids the silly, careless, catastrophic mistakes that even brilliant young people sometimes make.
And this is why we built the Super Traffic Machine the way we did. We assume you’re a responsible, level-headed adult…patient, thoughtful, and experienced.
We help you build your business around your experience, knowledge, and skill. Which we assume you acquired over years in a career or a hobby or other area of interest.
We also assume you want to be strategic and serious about accomplishing your dream. That you’re ready to acquire some skills and take your time to build a business that’s stable and reliable. One you can use to take care of yourself and your family and make a smooth transition from employment to business.
If i’ve described you accurately, then you might like to consider the Super Traffic Machine. It’s the only online training program you’ll ever encounter concerned with stability, level-headedness, and strategy.
Read more and sign up at the link below…