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When envisioning a successful startup founder, many immediately think of young male entrepreneurs celebrated for their rapid milestones and impressive revenue generation. However, the reality of the entrepreneurial landscape is more nuanced than these stereotypes suggest.
Studies have shown that companies founded by women tend to achieve higher revenues, despite often receiving less funding compared to their male counterparts. Furthermore, a 2020 analysis indicated that a significant number of successful entrepreneurs in the U.S. were actually in their 40s, challenging the notion that youthful founders dominate the startup scene.
This study determined that the average age of founders steering high-growth startups was 45, revealing that those in their 20s were less likely to achieve successful business exits or establish rapid-growth firms. Many women founders who embarked on their entrepreneurial journeys after age 40 are reshaping this narrative, sharing their insights and experiences as evidence of their capability to start and scale robust companies.
In interviews, four dynamic women who launched their businesses in their 40s or beyond discussed their journeys, further illustrating the potential that this demographic holds in the entrepreneurial ecosystem.
Joanna Strober, at 56, founded Midi Health, a virtual healthcare clinic designed specifically for women experiencing midlife changes. Julie Bornstein, 54, is the co-founder of Daydream, an AI-driven shopping platform. Sara Schiller, 54, and Karen Robinovitz, 52, came together to create Sloomoo Institute, a brand dedicated to providing multi-city, immersive experiences centered around slime.
“You have a wealth of experience, and that yields advantages,” Strober noted. She emphasized that starting a business at this stage of life brings unique strengths, stating, “It’s a great time to start a business. You’re smarter and more experienced. I see no disadvantages.” Indeed, the knowledge accrued over decades in the workforce often positions older founders for success in initiating and scaling their enterprises.
Strober’s establishment of Midi Health stemmed from her personal challenges with perimenopause, which led her to seek out expert care. Her previous venture, Kurbo Health, which was acquired by Weight Watchers in 2014, provided her with foundational insights that bolstered the launch of Midi Health in 2021. To date, Midi Health has successfully raised over $100 million in funding, attracting interest from significant investors including Google Ventures and Emerson Collective.
The expansive networks cultivated over the years are invaluable, as Strober pointed out: “You have larger networks and are well-equipped to address substantial problems. With age, you gain clarity on these issues and the opportunities to resolve them.”
Bornstein’s background in e-commerce, particularly her exposure to emerging technological trends, has been crucial in her entrepreneurial endeavors. Following the acquisition of her previous AI shopping platform, The Yes, by Pinterest, and the rise of ChatGPT, she felt prepared to dive into her new venture, bringing a fashion recommendation engine to life. “The greatest benefit is my extensive experience,” she explained, emphasizing her capacity to identify optimal hiring practices and organizational strategies.
Her current venture, Daydream, has successfully raised over $50 million in a seed funding round, indicating robust investor interest in her innovative approach.
Schiller and Robinovitz, who have been friends for nearly two decades, partnered in response to personal adversities, turning a shared passion for slime into a thriving business. Their professional backgrounds in talent management and event planning highlighted the unique opportunities their venture presented. They reflect on how their age has fostered a greater comfort with vulnerability and emotional investment in their work.
“Embrace your experience and trust your instincts,” Robinovitz urged, advocating for resilience against naysayers. “People thought we were crazy. But we believed in our vision,” she shared, underscoring their commitment to making a mark in an uncharted business landscape. Following a successful $5.8 million in Series A funding in 2022, Sloomoo Institute is expanding rapidly, with plans for multiple new locations and an evolving media strategy.
As many women in their 40s and beyond have time to allocate towards entrepreneurship, they benefit from newfound flexibility as family dynamics change, which can be a significant advantage. “Now that my kids are in college, I have more time than ever to focus on work,” Bornstein noted, highlighting how personal circumstances can shift in favor of professional ambitions.
Strober echoed this sentiment, observing, “I have all the time I need to focus, without the daily responsibilities of parenting.” With fewer distractions, the cognitive bandwidth available for creative thinking is enhanced, opening doors to innovative ideas.
The ability to assume calculated risks often grows with age, providing seasoned entrepreneurs with an edge. “You can embrace more risk later in your career,” Strober indicated, highlighting the boldness that often accompanies experience. Bornstein supported this view, noting that past experiences helped cultivate her confidence in leadership roles.
Both Schiller and Robinovitz expressed that their earlier life challenges have made them more prepared to take risks now. “It’s unconventional to establish a business around slime, but we relied on our combined experiences and fearlessness,” Schiller remarked, emphasizing their commitment to persevere despite potential failures.
Robinovitz concluded, “If we do stumble, we have the resilience to rise and try again.” This attitude embodies the spirit of entrepreneurship that is fearless and adaptive, underscoring the important contributions of women over 40 in the startup ecosystem.
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