Age is just a number: Never Too Old to Start a Business
Even though I feel blessed to have had the opportunity to direct myself into a business mindset around 10 years old and continued along that journey for the past 70 years, the conversation about what age should a person even consider a business has been discussed often. The reality is you are never too old to start a business or to achieve your dreams. If anything, starting later gives you a leg up because of all the experience you’ve gained over the years.
Why age is typically NOT a barrier to starting a business
- Experience: Even though we may not have directly been involved in Business since our early years we have accumulated many life experiences and have also had the opportunity to observe the successes and failures of others.
- Networking: One of the advantages of having a few gray hairs is we have probably built a network of like-minded people over the years from which we learned things and they learned from us. That Network is valuable when embarking on your new venture
- Problem-solving: Entrepreneurship is about solving problems, meeting needs, and creating value, which are skills that don’t have an age limit
Some tips for starting a business later in life
- Be cautious about investing your retirement savings unless you have a financial cushion. Be sure to spend time to WRITE DOWN a detailed realistic Cash Flow projection. This is discussed at length on pages 15-30 in Provision Your Ships. An affordable and valuable download from yours truly.
- Consider your support structure. Who is going to be on your team? What Tech Tools are going to use? Develop an Accountability Partner
- Be sure you also develop a detailed Business Plan,
No one is too old to start a business. Entrepreneurs over 50 often have a higher chance of success than younger entrepreneurs. This is because they have more experience, wisdom, and practical know-how Entrepreneurship is not just for the young. Many women are choosing to start a business later in life because the timing is right for them.
I have shared this video earlier on this website but it does reveal fabulous facts regarding AGE it is not a Factor
Julie Started and Built a Very Successful Business
as an
“Experienced Citizen”
A lack of confidence and fear is what holds most people back from starting a business, Don’t let that be you.
Here are some tips to help you overcome the fear of starting a business later in life:
Look at the advantages
There are many advantages that you bring to a new business. You bring decades of professional and personal experience to the table that help you make better decisions for your business. Over the years you have built relationships and a great network that can serve as mentors and help you find your first customers. In your “Experienced Citizen” years, you likely have clarity know what you want, and have the determination to achieve your goals.
Overcome the common fears
Fear of failure or feeling too old to start a new business can prevent you from moving forward, but many successful entrepreneurs face these same fears and still manage to build businesses that thrive. Treat setbacks as learning opportunities, not reasons to quit. Failures will likely happen but how you react to them determines how successful you will be. And know your age brings wisdom and resilience that you wouldn’t have had at a much younger age.
Know your worth
Believe in yourself and the value that you are bringing. You have unique skills and insights that people need. Don’t downplay your expertise and highlight it as a selling point. And don’t let others try to bring you down. There will be naysayers out there, so remember that you aren’t for everyone and just keep showing up for the people who need what you offer
Tools and resources to support you
There are many tools and resources out there designed to support entrepreneurs. Leverage those resources that can help you succeed. There are small business development centers, join your local Chamber of Commerce and attend workshops and seminars, online learning platforms, and networking groups that offer communities accountability and support.
Be sure to share with our readers how you are progressing
or starting your business
in the comment section below
