Are we ever too old to start?
Never!
We bring so much more than experience to the table.
How are we different as older entrepreneurs? Should we just not go down that path because it’s too late? Do we approach business with a deeper insight? Do we hesitate or move forward with more confidence?
A long time ago, I was relocating from NY to LA. A friend offered me an opportunity to work in the film industry. It was a production assistant job and was way less than I had been making at my TV network job. It was also, obviously, a temp gig. I decided against it and ended up at another low-paying job at a new network at the time, FOX Sports. I’ve regretted it ever since - it was a little movie called Apollo 13!
When it came time to think about starting my own business 7 years ago, I didn’t overthink it. Why? Well for one, I didn’t have much choice at the time - I had to provide for my family as a single parent but for another, being in my mid-40s, I had age on my side. I know! You might be thinking starting something new when your kids will be heading to college soon doesn’t sound like smart thinking but here’s why I believe older entrepreneurs might have an advantage.
We have a wealth of experience: Starting a business later means that we had ample time to gain experience and knowledge. We can use this experience to make better decisions, take calculated risks, and avoid common pitfalls that younger entrepreneurs might fall into.
We have established networks: We have had plenty of time to establish a strong network of contacts in and outside our industry space. This can be a significant advantage when it comes to finding investors, suppliers, customers, or even potential employees.
We tend to have a little more financial stability: We may have accumulated a significant amount of savings, which can provide you with the financial stability necessary to invest in your business without worrying about putting your personal finances at risk. That wasn’t my case but for many of us, this is true.
We can afford flexibility: With children either grown or at least not needing our constant care, starting a business can be a great way to create a flexible work schedule that allows us to pursue our passion and still enjoy the other aspects of our lives.
We crave a sense of purpose: Starting a business at any age can be fulfilling, but starting one later can give us a sense of purpose and direction that may be lacking in other areas of our lives. Our younger selves might have been too caught up in daily life to look at the bigger picture of community. We can use our business to make a positive impact on our community, help others, or simply create something meaningful for ourselves.
It's never too late to start. Many successful people didn't achieve their goals until later in life, and we can do the same. It's never too late to learn new skills, make new connections, and take steps toward achieving your goals. If you need some encouragement, here you go…
Laura Ingalls Wilder: She published her first book, Little House in the Big Woods, at the age of 65.
Julia Child: Chef and author of Mastering the Art of French Cooking didn't become a TV personality until her early 50s.
Vera Wang: The fashion designer did not begin designing until she was 40, and she did not open her first bridal boutique until she was 41.
Gladys Burrill: The iconic American marathon runner began running marathons in her 80s and set a world record for her age group at the age of 92.
