Thinking of starting a business? You’re at the perfect age to turn that idea into a reality and succeed. Your age is an advantage, and here are five reasons why.
You Have Skills, Experience and Knowledge
The big difference between yourself and that “whiz kid” entrepreneur is you have years of experience, skills and knowledge that you’ve picked up during a substantial and productive career. Furthermore, you have actual life experience. You understand that a great idea is nothing without hard work to support it, and appreciate those successful businesses actually fill a gap in the market. You use this wisdom to guide you as start out, and you’re not too proud to ignore any good advice you’ll pick up during your business journey.
You’re In Charge Of Your Own Destiny
This is your time to shine. Starting a business now means you’re still fit enough and healthy enough to give it everything. You can put your energy into your very own enterprise, instead of having your skills and ideas ignored by someone in head office. That head office is now yours! It’s time to put those skills and ideas into action and watch them pay off.
You Have (More) Time On Your Side
If you were to start a new business now, you’ll be able to devote the time you’ll need to make a success of it. For example, you may no longer have the same work and family commitments you used to. Time is one of the most precious resources for any business person, and if you have more than most, then you give yourself a big head start as you establish your new venture.
You Know People – A Lot Of People
One of the many great things about being your age is you’ve met a lot of people over the years. In a business sense, think of them as very valuable contacts. Not just as potential clients but as people who can help you build your business, e.g. professional services, tradespeople, financial advice, investors and even potential employees. Compare your network to that of a 20-something entrepreneur, and you unquestionably come out ahead when it comes to knowing experienced and knowledgeable people.
You’re Keen, Motivated and Sensible
Research says the Number One fear of people approaching retirement is running out of money. Not ill health, or even death but being broke! By starting a business at this age, you will have every motivation to succeed. You’ll understand that this is your chance to cash in on your experience, skills and knowledge and set yourself up for life. What will help you in this respect is your life experience: you’ll appreciate that a flash fleet of cars or a luxury home are not essential purchases when the cash comes in. You’re sensible enough to know that the real symbols of success are health, family and friends. This knowledge will pay practical financial dividends as you spend your money wisely and feather your nest for your retirement.