Aging Success: Never Give Up!
We live in a youth culture. As young Baby Boomers, we were going to change the world. Later other Gens would say the same. Is it now too late for those over 50 to attain entrepreneurial success?
A serial (often failed) entrepreneur, (Kentucky) Colonel Harland Sanders sold his first franchised secret receipt for “Kentucky Fired Chicken” at age 62 (1952).[i] After a mixed career, Winston Churchill was first elected the Prime Minister of Great Britain at age 66.[ii] The list of older individual success stories goes on, but readers will get the point.
According to TEDxMidAtlantic, “Backed by mathematical analysis, network theorist Albert-László Barabási explores the hidden mechanisms that drive success — no matter your field — and uncovers an intriguing connection between your age and your chance of making it big.”
His thoughts are well worth watching.
He makes several good points:
- Variations of human performance is relatively small, i.e., difference between world class athletes and ‘normal’ athletes
- Your level of success is a function of what others think (measurable) , i.e., the market
- Success can come at any time in your career
- Entrepreneurs over 50 are more than twice as likely to have a successful ‘exit’ than those in their 30’s
- There is a positive correlation between productivity and success
When viewed objectively, these observations make good sense. For example, musicians that shoot to the top in their teens and twenties are often less productive after they have ‘made it.’ Typically, we hear less and less of them. Don’t tell that to the Rolling Stones.
A cliche of this author’s youth, “Hang in their baby” was typically depicted as a kitten hanging from a tree branch.[i] Cute then, apropos for today’s Baby Boomer entrepreneurs!
Whether you’re a scientist, entrepreneur or simply want a better career and life, take heart. Success comes at any age for those who persevere. While your Condition (age), Behavior (interaction with others of all ages) may be changing in this phase of life, it will only generate new and possibly much better Relationships in the work place as well as your personal life.
Mr. Churchill demands we “Never, Never, Never Give Up.” So, don’t! The best is yet to come.
Still Have an Idea That Will Change The World?
For More Information
The TED Talks link has several additional video talks on the subject and Professor Albert-László Barabási has published the book: The Formula: The Universal Laws of Success. Disclaimer: as of this writing this blogger has not yet read the book.
You can contact the author more information as well.
Critical Mass: Value from the RBC Framework
Nuclear physicists define the term, “critical mass” as the amount of fissile material whereby a nuclear reaction is self-sustaining. From that original definition, the construct is further developed along societal and political terms as a function of the environment and number of adopters and their interdependencies that create enough of a consensus for individual actions that sustains an undertaking.
In 1996, the author published the first of several case studies on a societal interaction model based on the Relationships, Behavior and Conditions (RBC) construct among economic actors. Previously the model was only in the domain of academia.
This blog addresses contemporary issues from the RBC perspective and whether in the present state they are sustainable or not. Many readers may be familiar with the “Innovation Adoption Curve.” RBC seeks to enlighten the causality of behaviors that cause movement towards the critical mass that generates movement along this diffusion curve.
- In Defense of Humans—Machines Are Not Ready Yet October 1, 2019
- Culture matters A Lot! Cultural Interactions matter MORE!! September 22, 2019
- Chain of Custody: Is Your Management System Ready? September 15, 2019
- Man—Machine: Extension or Versus? August 26, 2019
- Zero: What If Switching Costs are Near? August 25, 2019
Other Blogs Dr. Shemwell Authors
Dr. Shemwell is an author for the following 3rd party blogs.
Governing Energy Blog
BTOES Insights is the content portal for Business Transformation & Operational Excellence opinions, reports & news. Dr. Shemwell is a contributor.
Consult 2050 connects organizations with a wide range of consultants all around the world. The firm operates an online marketplace for consultancy services.
About the Author
Dr. Scott M. Shemwell has over 30 years technical and executive management experience primarily in the energy sector. He is the author of six books and has written extensively about the field of operations. Shemwell is the Managing Director of The Rapid Response Institute, a firm that focuses on providing its customers with solutions enabling Operational Excellence and regulatory compliance management. He has studied cultural interactions for more than 30 years—his dissertation; Cross Cultural Negotiations Between Japanese and American Businessmen: A Systems Analysis (Exploratory Study) is an early peer reviewed manuscript addressing the systemic structure of societal relationships.