Think You're Too Old To Start Your Own Business? Think Again!
Media loves to highlight young entrepreneurs who have achieved enormous success with their innovative ideas, service, and products. In recent years, whippersnappers such as Akshay Ruparelia (age 19), Alice Liveing (age 24), and Christian James (age 25) have all cornered their market with their unique offerings, leaving those of us age 30 and over if we have missed the boat somehow. Rest assured, age is not a determining factor of success. If it were, then Colonel Sanders would never have founded his Kentucky Fried Chicken enterprise, or Bernie Marcus would have left many homeowners wanting more from home improvement retail by missing out on his Home Depot empire. Both of these gentlemen were past 50 when their golden dreams came to fruition.
It is never too late to start building your dreams!
Throw away those excuses, stop the negative self-talk, and get off your keester, using these reasons to keep you moving forward when times are tough. You deserve to build the life of your dreams, and hopefully, you can take some inspiration away from this article as you begin to construct what has been swimming in your head for some time now. Here is why it’s never too late to start your own business:
Reason #1: You have valuable life experience.
Studies have shown that those who begin startup companies after age 55 are twice as likely to achieve growth and success as their counterparts who are under 35. You have real-life experience through trial and error, and it is likely that you will not make the same mistakes that you would have if you were starting a business in your 20s. You have the wisdom and patience to take things step by step, systematically building things as they should be, starting with solid financial backing, a business plan, and resources to draw from. You are likely to have a network of people around you that you value who can help and support you in your personal and business endeavors. Take advantage of that life experience and move forward with your dream.
Reason #2: You know how to network.
With your network of people around you, you realize how valuable “networking” is. The efforts of people are compounded as they communicate, and you find that as you talk to people, you’ll find additional resources and new people that it would benefit you to learn from and to get to know. Building a solid network takes time and effort, and you have done much of the groundwork to set that up. Take advantage of an already solid foundation, and keep building for future success.
Reason #3: You know how to set and achieve goals.
Goal setting is an integral part of life. As we grow and live life, we set goals, achieve them, and sometimes we fail. Regardless of the outcome, we learn through the process of setting goals and working toward them. You know how to set goals in your personal and professional life thus far, why not apply some of this real-life skill toward building a business? Take immense pride in your successes and learn from your failures, and remain consistent. No destination is ever reached without first plotting a course toward that destination. Setting goals is planning your success each step of the way.
Reason #4: You may have an advantage with financial investors.
Investors are more likely to take a chance on someone with real-life experience and business success than someone coming to them with little or no experience. While it is true that younger entrepreneurs have the advantage of time on their side, don’t underestimate how you can leverage your success by using the tools and experience that you have to make your business package shine for potential investors.
Reason #5: You know your passions.
While young entrepreneurs are hungry for success, they don’t necessarily know which direction to focus their passions on. Passion for success isn’t enough; you need to have a purpose for business development. Excitement and enthusiasm for an idea is a crucial predictor of future success, as it will keep you motivated to continue when times get tough. You likely have a sense of where you want to go; combine your passion and excitement with some strategic steps forward, and you’ll be unstoppable.
Reason #6: You have knowledge that is valued by others.
There has been a recent shift in the business world that allows for knowledge-based applications, meaning that age and retirement don’t necessarily dictate which direction your career will take. Many people choose to work past retirement age, finding genuine enjoyment in the application of their skill set and knowledge as they help others with their offerings. Investors and companies alike look for knowledge, expertise, and a passion for what you are doing. These inspiring traits make you look very attractive when it comes to setting up a business and persuading others to buy into your dream with you.
Reason #7: You are more financially secure.
Most of us have paid off a significant portion of our big ticket debt items by the time we are in our mid-forties--student loan debt, credit card debt, auto loans, mortgages, etc. This frees up additional cash to place back into a business, making the thought of start up a little less risky than someone who is just starting out in life. If you don’t have to use your personal assets as collateral for a business loan, it is also easier to take some risks associated with growth, as you have less to lose if things do not work out.
Reason #8: You have more options for startup.
When you are young, you don’t have the knowledge and resources to draw from to begin a business; often you are left with the “bootstrap” option--starting your business on a shoestring budget and living on very limited means until you start seeing profits. With more resources, a greater network of people surrounding you, and greater financial stability, you have more options available to you for business startup. You may choose to start from the ground up, to buy into a franchise, or even to put some of your own capital up for investment into someone else’s idea, leaving them with the groundwork while you retain a portion of the business profits. No matter how you begin to create your success, your experience will lend a hand in helping determine which option is best for you.
Reason #9: You have failed before.
You know what it’s like to succeed, and you know what it’s like to fail. With failure comes the knowledge that you’ve learned a lesson, and the fear of failure lessens every time you pick yourself up after a curveball. This resilience will work in your favor as you become more willing to put yourself out there and take steps toward robust business growth.
Reason #10: You are confident!
With age and wisdom come self-assuredness. With your successes and failures come a deeper level of self-awareness and acceptance of yourself and your unique talents. This knowledge works in your favor as you step out in confidence, working to build that dream and squeeze the marrow out of life!
It’s Never Too Late--Let Us Help You Get Started!
At MaxGroup Business Solutions, we specialize in taking your small business idea and compounding it for explosive business growth. We leverage your success with our e-commerce solutions that almost effortlessly promote your business and effectively reach a broader audience. Our customized business packages cater to your business, your budget, and your vision for the future. We will work with you and your business idea to systematically design your success and grow your business exponentially.
If you dream of a better future, it doesn’t matter where you are starting; the time is now! Let us help you achieve the business--and the life--of your dreams! Visit www.maxgroupbusiness.com to get started today!