Whom to Back: Gen Y vs. Old Guys Entrepreneurs

Credit: ezioman

They’re young. They’re brash. They expect an immediate payoff, have no respect for their elders, and think technology can replace good, old-fashioned elbow grease.

And work Saturday? ROTFLOL (translation: Rolling on the floor, laughing out loud.)

They’re Generation Y. At least that’s the stereotype.

But angels might want to withhold judgment on these brash young hotshots. They might be worth knowing after all: Turns out, Gen Y entrepreneurs are more likely to succeed in a recession.

The Kids Are All Right

That’s the findings of one “study.” The American Express (AMEX) OPEN Small Business Monitor surveyed small businesses and found 80% of young entrepreneurs, ages 18-28, have a more positive outlook on prospects in the recovering economy.

In its annual 30 under 30 look at upcoming superstars, Inc. calls these young guns a “dynamic group of self-starters that has managed to raise money, launch new products, build new technologies, and tap into underserved markets.”

Old Guys Are All Right Too

But in his brilliantly opinionated article, Vivek Wadhwa finds that when it comes to founding successful startups, old guys rule. Companies with an “old guy” at the helm are far more likely to survive and thrive than companies run by founders who just started growing facial hair.

“The old guy,” which he defines as someone who is 40 years old or more and has at least 2 kids, have been around the block; they’re motivated to get out of their middle-class life and they know a thing or two about running a business.

Heavenly Match

So angels, look beyond generational perceptions, and misperceptions, to see the very real advantages Gen Y and Old Guys can each bring to the table.

As a young South Caroline entrepreneur points out — young guns are more flexible and innovative to make a profit but old guys are more capable of dealing with the ebbs and flows of business.

Experienced angel and Gen Y entrepreneur – could be a match made in heaven.