Any Over 40 Searchers?

searcher profile

March 19, 2019

by a searcher from Colorado State University in Austin, TX, USA

Hello- The 2018 Stanford Search Fund Study indicated that very few searchers are over age 40 (3% of new funds in###-###-#### were started by someone older than 40, and 7% in###-###-#### As someone who is approaching his 50th birthday this year and just starting to explore search funds, I am very interested in hearing from anyone who is in the over-40 crowd. What model did you use? Did you enlist a partner? What challenges, if any, did you face? 

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commentor profile
Reply by an investor
from University of Canberra in Perth WA 6000, Australia
Hi Drew. Age is irrelevant. It's a mindset. If you believe that the average lifespans of humans is getting longer (in some countries ave.-83 for males and older for females) then if you are in your 50s you'd be just about to begin your third or fourth career path to take you to 70+. And then, what will you do in your 70s-90s? My favorite story is meeting a 93 year-old gent who came into the city at our business club every day - suit and tie, to attend board meetings for his investments etc. Staff asked him "Mr Jones, where have you been?" he responded: "wife and I went on a cruise. Loved it so much we've booked the next 2 years cruises..." I aspire to be just like him when I am that age. In contrast there are some 33 year olds who act gentrified. Age is just a number - not an attitude.

Great article on this and stats re age and entrepreneurial success at https://secondsquared.space/if-you-follow-media-coverage-of-the-entrepreneurial-world-you-could-be-forgiven-for-thinking-its-just-the-domain-of-people-in-their-mid-20s-and-technology-start-ups-koshies-business-buil/
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Reply by an investor
from University of Canberra in Perth WA 6000, Australia
Hi Drew, I posted on this a while back here https://www.searchfunder.com/post/im-only-just-warming-up

And to address the unsaid - even if you go it alone and become the singe searcher without a partnership, one of the important aspects of your strategy will be to address your succession/address the key-person risks associated at any level in any business.

And speaking from experience, by the time you are in your 40s (IMHO my 40s were just the start of me getting my mojo) you have probably experienced all kinds of business relationships and are beginning to know what works/doesnt for you. I was in partnership with a corporate psychopath (ticked 12/14 of clinical psychopathic attributes) from which I learned much and was able to learn how to spot the signs early.

Being clear on what you bring to the table and what your blind spots are is important too as your business partner should not bring the same as you - you have to complement and leverage your unique abilities to really gain momentum.

Also don't forget the power of a great investor community - many of whom will support the right minded entrepreneur.
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