Business startups

BY MATTHEW D. MOHR

Most of us think of a new business being started by young, vibrant, go-getting entrepreneurs. Studies reveal Americans in the 55 to 64 age group actually start more businesses than those in their 20s and 30s.

Perhaps this statistic is a surprise to our readers, but it speaks to age, experience and wisdom. Pondering this statistic, one will most likely recognize it to be true. After getting experiences and learning an industry, a person is much more likely to strike out on their own or identify an opportunity to go into business for themselves.

Bruce Gjovig, entrepreneur coach and director of the UND Center for Innovation, often speaks of “serial entrepreneurs.” Only with time can multiple enterprises be developed and matured by one individual.

Doug Burgum is an excellent example of this phenomenon. Contrary to what many in the region might think, he did not start Great Plains Software. He joined the organization after its initial years, then led it through a public offering and the eventual sale to Microsoft. He did establish the successful, fast growing Fargo real estate development firm known as the Kilbourne Group. One might say Doug followed the typical new business startup pathway — experience at growing and creating a successful business, then moving on to start one’s own new enterprise.

This is not to say individuals under the age of 55 don’t create and grow excellent businesses. Our news is filled with superstar businesses started and flourishing worldwide by young entrepreneurs. Based on numbers of business startups, those age 55 to 64 create the most. PB

Matthew D. Mohr CEO, Dacotah Paper Co. mmohr@dacotahpaper.com