Over 50s Entrepeneurs
Business isn’t a young man’s game anymore. The economic climate is forcing more and more people to forge their own paths ahead, which means that over 50s entrepreneurs are becoming more and more common.
These individuals have the mindset that they need to start creating opportunities, if they are not being handed them, and this is ultimately what lies at the heart of a successful entrepreneur.
A Skilled Pool of Human Resources
What makes people over 50 such prime candidates for entrepreneurship? Once you reach your 50’s, you start to get a good idea about what you like and what you don’t, and believe it or not, this can actually help you to provide a quality service to your customers.
More mature individuals know that it takes hard work to get a business off the ground, and they are more interested in providing a quality business, rather than something “flashy”. Furthermore, over 50s entrepreneurs have had years to fine tune special skills and hobbies, and these often become the cornerstones on which they built their businesses.
It is not only hard work and talent that brings about success – apparently, contacts go a long way in ensuring a business has a good chance of success, and at 50, you are more likely to have a broader pool of contacts to draw from when the time comes to take the leap into self employment.
Embracing the New
One of the difficulties that over 50s entrepreneurs will face as they go about establishing themselves in the market of their choice is becoming familiar with technology.
In this day and age, businesses are built on social media platforms, and most do not function without a hardy computer system running in the background, so if this is something you are interested in, you need to make a vested commitment to catching up.
Taking a Chance
One of the most daunting things about starting a business, especially for over 50s entrepreneurs, is the possibility of failure that constantly looms overhead.
Failing is never something that people look forward to, but regardless of how great your idea is, how much time or effort you invest in it, or how hard you work, failure is always a possibility.
According to some experienced over 50s entrepreneurs, this is simply something that prospective entrepreneurs need to come to terms with. There are, however, ways that you can go about decreasing the risk, but nothing is foolproof.
A Flourishing Industry
According to a recent survey, there are currently about 1.4 million entrepreneurs who are over the age of 50 within the United Kingdom, and this number is increasing every year.
Not only are more people finding that they are willing to jump into a new business venture after 50, but more and more financial institutions are backing individuals over 50, helping them to start their businesses.
In the end, starting a new business is an exciting prospect, regardless of your age, and with the amount of successful 50 year old entrepreneurs, it just goes to show that in business, age is truly just a number.
4 thoughts on “Over 50s Entrepeneurs”
I think with the birth of the internet being a business owner/entrepreneur is well in anyone’s grasp. Older people are certainly no different. Many that retire find themselves restless, and ponder what to do with the free time. As more, and more older american’s learn the in’s, and out’s of a computer as well as leverage the power of the cyber world.
entrepreneurship is an option to explore not only for the sake of feeling useful, but also as a way to earn additional income. It’s a win, win how great it is that this is possible.
I know of many people over 50 who are starting over, both in business and in life. As the article states, those over 50 have a wealth of information both objective, as well as subjective, since we are each an expert in ourselves, so tend to know our learning and working styles. As far as technology, many, but not most, have at least a superficial knowledge of some social media and technology, but I think there is a market for gearing technology seminars toward 50+ entrepreneurs.
Age should never be a determining factor for whether or not you work towards achieving the career goals you want to complete. Twenty years ago my husband and I started our own business for renting/contracting, and while I have had to slow down as time has gone on, he still goes strong and together we have been very successful at keeping our business afloat. Starting our business later in life was wonderful, because as this article highlights, we have been able to use knowledge we gained throughout our lives that have made it work. Entrepreneurship isn’t just for the young adults, we can do it too!
Great read right here, very inspiring.
Yоu аrе nеvеr tоо оld оr lаtе tо сrеаtе sоmеthing mеаningful. Thеrе аrе diffеrеnt risk fасtоrs invоlvеd diffеrеnt stаgеs оf lifе аnd yоung аgе bеin thе lеаst risk аrеа. But thаt dоеsn’t mеаn thаt yоu саnnоt stаrt аftеr а сеrtаin аgе.
Thеrе аrе mаny еxаmplеs in businеss histоry whеrе аvying аt hеаrt individuаl in еаrly 50s stаrtеd up thаt turnеd intо wоrld’s lаrgеst frаnсhisе firm. Thе соmpаny thаt tаught thе wоrld аbоut businеss mоdеl rеpliсаtiоn аnd sеlling burgеrs in а minutе. Yоu guеssеd it right lаdiеs аnd gеntlеmаn I аm tаlking аbоut MсDоnаld’s аnd thе yоung mаn wаs nоnе оthеr thеn Rаy KrоС.
Fоundеr оf wоrld’s biggеst sugаr wаtеr соmpаny аnd оnе оf thе mоst vаluеd brаnd Соса Соlа wаs in his lеt 50s whеn hе stаrtеd up. Yоu саn kist dоwn 100 suсh suссеssful big соmpаniеs whеrе аgе didn’t соmе in bеtwееn thе drеаm аnd suссеss.