The stereotype looms large.
But is it valid?
When it comes to public perceptions of the traits required to breed personal success in America’s high-tech sector and other cutting-edge industries, one characteristic comes readily to the fore.
In a word – youth. Many assume that a virtual prerequisite to success in 21st-century businesses is being comparatively youthful. The image of a Silicon Valley business principal entering the company parking lot in ripped blue jeans on a skate board is well entrenched.
But, again, is there any truth in the idea that, other things being equal, a 20-something merits extra consideration in the tech workplace?
Researchers from the Kellogg School of Management, U.S. Census Bureau and MIT think not. They recently released their results from a study that examined business age bias, concluding that a generalized preference for youth in the commercial sphere can yield damaging consequences for many parties. Those include hiring managers, would-be financers and others.
In fact, say the researchers, “the best entrepreneurs tend to be middle-aged.” Their prior experience brings “substantial insight about specific market and specific technologies, in addition to skills at running things.”
A strong bottom line that the study authors say emerged from their extensively culled data stresses that, “The longer you’ve been around, the better your odds.”
Another way of saying that, of course, is that, “With age comes wisdom.” When that proves true in the commercial sphere, it is often because a reflective and creative business player realizes the need to reach out for advice and input from other professionals.
A deep legal team of proven commercial law attorneys is one core source of expertise that many entrepreneurs turn to for advice and representation on wide-ranging matters relevant to company challenges and opportunities.
Lawyers from the established Manhattan business law firm of Rich Michaelson Magaliff collectively command many decades of on-point experience promoting the best interests of entrepreneurs and diverse commercial entities. We welcome contacts to the firm and the opportunity to discuss the work we are privileged to do on behalf of valued clients – of every age.