Regardless of chronological age, people who are 1 standard deviation above the norm in “age-based self-image” are significantly more likely to act on entrepreneurial ideas and start their own businesses than those who are below the norm on this measure, according to a survey study led by Teemu Kautonen of Aalto University School of Business in Finland. Age-based self-image is an individual’s view of his or her willingness and ability to engage in the kinds of knowledge-acquisition activities required for pursuing entrepreneurial opportunities. A negative age-based self-image reflects a belief that with time running out and future options limited, it’s better to work on reinforcing social ties than to engage in the hard, risky work of entrepreneurship, the researchers say.
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