There is a stereotype in boardrooms in America – and really, in many countries – that goes like this: to be a successful leader of a company, you have to be in the 45-60 age bracket. If you are younger, then you don’t have enough experience or the maturity to take on the management of a business. If you are older, then you aren’t energetic enough, or your ideas are antiquated. Is this really true, though? Perhaps it is to some degree, but it isn’t hard to find examples of business leaders who break the mold. Are we shooting ourselves in the foot by automatically rejecting those who fall outside that age group? We asked Amit Fridman, the Founder of Profitfi Academy and one of the Northeast’s most prolific real estate investors, for his opinion on the potential that the younger and older generations have in the business world.
“First, I would agree that the longer you stay in business, the more wisdom you accumulate that can only help you to run a company,” says Amit. “No one can deny that. Some of my biggest mentors have been CEOs that have spent years building hugely successful brands, and the knowledge these men and women have is simply amazing. I wouldn’t be where I am today without their willingness to share it with me.”
That said, Amit continues, he thinks those who are in their twenties and thirties, and perhaps even younger, have incredible ideas that can benefit society. “I think we are seeing a real shift in our culture as more people become aware of the abilities these generations have. I don’t think your potential is defined by your age – it is defined by your mind and by the drive that you have to make a difference in the world.”
He recalls that when he first came to America at age 21, he had tremendous ambition. “I wanted to climb the corporate ladder as fast as I could,” Amit reveals. “That desire would lead me to start a toy company, go to China, begin manufacturing toys there, and import them to the United States, where I was able to sell them to 7-Eleven and Walmart. I did all of that before I was thirty, and I think plenty of people raised their eyebrows. Yes, I had the inevitable moments when I wasn’t 100% sure what to do as the leader of a company, but experience is the best teacher, right? I learned very quickly what I had to do, and I thrived.”
Amit also believes that the older generation has a lot to give the business world. “I think it is unfortunate that sometimes we are too quick to discount their abilities,” he reflects. “Too many of us seem to believe that because these people were born in the pre-Internet age, they don’t have as much to give. What we have to remember is that tech is tech – by its very nature, it’s here one day and gone tomorrow when it’s replaced by the next big thing. What is never obsolete is a person’s ability to think critically, and believe me, these men and women who have been in the boardrooms for decades can think circles around most of us. They are also a lot more mentally flexible than we sometimes give them credit for.”
He gives the example of a woman in her seventies who he taught to invest in cryptocurrency. “There’s another stereotype: someone her age could never understand digital currency,” Amit says. “She blew that out of the water. She caught on fast to everything I told her, and she ran with it. Before too long, she was investing and building her own portfolio, and today she’s living the high life and teaching children about digital currency. Not bad for someone we think is too old to understand crypto, much less invest in it.”
At 39, Amit still falls in the age bracket of people who are often considered to not be ready to lead a company. “I am so glad I don’t listen to stereotypes,” he laughs. “Where would I be if I did? Probably still sitting in the airport at JFK, wondering how I was going to take care of myself in a new country. Instead, I have listened to my business instincts and gone for it, and the rest, as they say, is history.”
Amit Fridman is the creator of Profitfi Academy, online courses that teach people unique strategies for investing in crypto and options. To connect with Amit or learn more about investing in today’s cutting-edge technology, please visit www.profitfi.com or https://www.instagram.com/amitfridman/?hl=en.
