Late bloomers: It's never too late for that business

A business startup idea. [Getty Images] In the fast-paced world of business and entrepreneurship, there is a common belief that success is reserved for those who start young and achieve greatness at an early age. Entrepreneurs such as Facebook's Mark Zuckerberg and Snapchat's Evan Spiegel - who became billionaires at ages 23 and 25, respectively - come to mind. However, the reality is far more nuanced. Numerous individuals have proven that success can come at any age. There is still good news for those in their late 30s and beyond. According to the Census Bureau, a 35-year-old is three times more likely to found a successful start-up than someone aged 22. Their stories not only defy conventional wisdom but also serve as inspiration for aspiring entrepreneurs who may feel that time is running out. Society often glorifies young prodigies marking a mark with innovative business ideas, however, it takes time to build something that lasts as the below entrepreneurs show. Strive Masiyiwa Strive Masiyiwa is a Zimbabwean entrepreneur who achieved remarkable success later in life. In 1998, he founded Econet Wireless, the first mobile telecommunications company in Zimbabwe. Despite facing regulatory obstacles, Masiyiwa's breakthrough came in his 40s when Econet Wireless was granted a licence to operate. The company rapidly expanded, becoming a leading player across Africa's telecommunications industry. Masiyiwa's entrepreneurial pursuits extend beyond telecoms as he has diversified his investments into sectors including finance, energy and media. He is also known for his philanthropy, particularly through the Higherlife Foundation, which focuses on education, healthcare, and leadership development in Africa. Masiyiwa's story inspires aspiring entrepreneurs with its message of persistence, resilience, and making a difference, even later in life. He is now worth $1.8 billion (Sh253.8 billion). Issad Rebrab Rebrab is an Algerian entrepreneur who achieved remarkable success later in life. Born in 1944, Rebrab started his career as an accountant and worked for various companies in Algeria. However, it wasn't until he was in his 50s that he made a significant impact in the business world. In 1998, at the age of 54, Rebrab founded Cevital, a conglomerate with interests in various industries, including agribusiness, manufacturing, distribution, and retail. Under his leadership, Cevital grew rapidly and became one of the largest privately-owned companies in Algeria and the wider African continent. Cevital is Algeria's biggest privately-held company, and owns one of the largest sugar refineries in the world, with the capacity to produce two million tonnes a year. Rebrab's entrepreneurial vision and determination led to the expansion of Cevital's operations beyond Algeria. Cevital owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill and a German water purification company. He is now worth $4.6 billion (Sh650.4 billion). Mike Adenuga Adenuga, Nigeria's second richest man, built his fortune in telecom and oil production. However, the businessman achieved remarkable success later in life. Born in 1953, Adenuga's entrepreneurial journey took off in his 50s. He founded Globacom, a leading telecommunications company in Nigeria and several other African countries. Globacom, is now the third largest operator in Nigeria, with 55 million subscribers. Adenuga's business ventures expanded into oil exploration and production through Conoil Producing, as well as real estate and banking. His accomplishments have earned him a prominent position on the Forbes list of billionaires. Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver. He made his first million at age 26 selling lace and distributing soft drinks. He is now worth $4.7 billion (Sh664.5 billion). Vera Wang Wang, an American fashion designer, is known for her late-bloomer success story in the fashion industry. Born in 1949, Wang initially pursued a career as a figure skater and later transitioned to fashion journalism and design. However, it was in her 40s that she found remarkable success. At the age of 40, Wang ventured into bridal fashion and launched her own bridal wear brand. Her elegant and innovative designs quickly gained recognition, and by the age of 50, she had become a prominent figure in the fashion world. Throughout her career, Wang has achieved numerous remarkable accomplishments. She has dressed high-profile celebrities and public figures, including Michelle Obama, Victoria Beckham, and Kim Kardashian. In addition, Wang's brand has expanded to include ready-to-wear collections, accessories, fragrances, and home decor. Despite entering a highly competitive industry at a relatively late stage, Wang's exquisite designs and business acumen propelled her to the forefront of the fashion world, making her a household name. Ray Kroc Kroc, the visionary behind the global fast-food chain McDonald's, was in his early 50s when he transformed a small hamburger joint into a multi-billion-dollar empire. At the age of 52, Kroc joined McDonald's as a franchise agent and, recognising its potential, he acquired the company in 1961. Under his leadership, McDonald's expanded rapidly, pioneering the concept of fast-food restaurants and revolutionising the industry. Through strategic franchising, Kroc grew McDonald's into a global powerhouse, reaching the milestone of 1,000 restaurants by 1968. Kroc's remarkable achievement came at the age of 59, when he took the company public in 1965, creating a massive shift in its growth trajectory. By the time of his death in 1984, McDonald's had grown to over 7,500 restaurants worldwide. Kroc's late-bloomer success story demonstrates that age should not hinder one's entrepreneurial aspirations. His vision, perseverance, and business acumen turned a single restaurant into an iconic global brand, making him a significant figure in the business world. Harland Sanders Known as Colonel Sanders, the founder of Kentucky Fried Chicken (KFC) achieved remarkable success in his sixties. Born in 1890, Sanders faced multiple setbacks throughout his life before achieving remarkable success in his later years. In his early 40s, Sanders began cooking and serving his famous fried chicken recipe in a small roadside restaurant in Kentucky, USA. However, it wasn't until he was 62 years old that he founded KFC and started franchising his concept.Sanders' most remarkable achievement came in his 70s, when KFC proliferated. By the age of 74, he had sold his company for $2 million (over $18 million today) and became a brand ambassador for KFC. The chain continued to expand globally, becoming one of the largest fast-food chains in the world. The rule not the exception The stories of late bloomers in business and entrepreneurship, whether from Africa or other parts of the world, serve as a powerful reminder that success knows no age limit. According to the Harvard Business Review, the majority of successful businesses have been founded by middle-aged people, and the average age of a company's founder at the time of founding is 41.9 years. But the vast majority of these new businesses are likely small businesses. But what about the most successful startups? Research among the top 0.1 per cent of startups based on growth in their first five years found that the founders started their companies, on average, when they were 45 years old. All this to say, while these late-bloomer stories are phenomenal, they are not all that unique. You can definitely start that business at any age. Story complied from internet sources.

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