Friday, November 27th, 2015

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Young Entrepreneurs Outperform Older Ones

Younger entrepreneurs' online ventures are more successful than those of their older counterparts.Younger entrepreneurs appear more successful than their older counterparts.

According to CityMax.com – which helps entrepreneurs build websites for their ventures – the average online transaction among business owners younger than 30 is substantially larger than the average for entrepreneurs over 30. This year, a young entrepreneur's average online sale is worth $152.58 – 50 percent more than people aged 30 to 49 ($101.23) and those 50 and up ($102.43) are earning.

The disparity could reflect the fact that younger people have a better grasp of e-commerce. Since the members of Generation Y were young, they have been buying – and, in some cases, selling – goods online.

But, while young entrepreneurs may have a leg up when it comes to selling goods or services online, CityMax.com's survey reflects the fact that entrepreneurial ventures are tough to get started for people of all ages. The 25,000 small business owners surveyed said their first online sale took 182 days to occur, on average.

So even though entrepreneurs under 30 may be able to gloat about their superior internet skills, they should remember that starting a business takes a lot of blood, sweat and tears – even before that first sale takes place.

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One Response to Young Entrepreneurs Outperform Older Ones

  1. Jake Sigal says:

    I’m 29 and follow the logic in the post. When I started Livio Radio in 2008 at the age of 26 I was counting on my technology background to give me the edge. I read a ton of books on business strategy including the notes from Warren Buffet. I think that the edge I had growing up with computers is sharp, however without solid business experience the technology is useless. The business experience only comes with… experience.

    For pricepoints not sure why the dollar amount is higher.

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