From what I see, looking at older people who have started companies, the most important aspect is building a strong network. This is useful in three ways:<p>1. Identifying problems. When you have a large network, you have many opportunities to identify real problems faced by real people. These are great opportunities to start a business.<p>2. Nepotism. Many close associates in your network will blindly trust and use your product in whatever capacity their position allows if it meets even a small need of theirs. It's sad, but it's true.<p>3. Referrals. Your network can give refer your company to others outside your network who may be in need of similar solutions. Referrals aren't as easy to sell as a close associate in your network, but the chance to sell is often a great opportunity that wouldn't otherwise be available without a great network.
A lot of truth in this: '...young founders are more financially constrained than more experienced ones, leading them to cede upside to investors at a lower price. In other words, younger entrepreneurs may be a better “deal” for investors than more experienced founders.'