Whether you’ve had lifelong dreams of owning a business or it’s something that’s developed over time, remember these wise words by George Eliot: it’s never too late to be what you might have been.
There’s no age that’s too old or too young to start a business. An eight-year-old with dreams of summer camp can start a lemonade stand. A woman reaching retirement age can leave her accounting firm and start a bookkeeping business. If you think you’re too old to start a business, this post is for you.
Make a Plan
If you’ve been thinking about starting a business, take some time to create a business plan. If you have a business plan, you’ll be able to get a better idea of the feasibility of your idea. This exercise will encourage you to take a deep dive into the local market, look at what would set you apart from the competition, and think about how you would appeal to your customers. One of two things will happen while you work on this plan: you will either become more confident in the idea and execute your plan or determine that it isn’t a good fit. Either way, you’ve taken action.
There are plenty of free resources available online that can help you create in-depth business and marketing plans, such as this small business marketing – complete guide. You have nothing to lose by creating a business plan and exploring your options.
Learn More About Modern Business Applications
It’s ok to be intimidated by newer technology and how quickly the world of business is changing. Even young entrepreneurs in their twenties who started a business ten years ago have had to adapt and change to face the modern business market. Fortunately, a lot of these changes have made it far easier for entrepreneurs to run a business, no matter the age.
Take a look at some of the favorite business applications of modern entrepreneurs. See how automation is easy to implement and can assist with employee scheduling, social media management, and email marketing. Take time to learn about remote teams and working with other entrepreneurs to experience business growth in tandem. Starting a successful business has never been easier than it is right now.
Consider the Value of Your Age
Sure, you may not be up to date on the latest and greatest social media platforms and apps, but think about what you have to offer. You have years of industry experience and knowledge that people want to access. Large businesses are currently facing an insurmountable crisis as the Baby Boomer generation is starting to retire, taking with them years of industry expertise. If you’ve been considering becoming a consultant, strike while the iron is hot.
Instead of thinking about your age as something holding you back, reframe your thinking and consider what it has to offer. Write a list of all the benefits you will have in the business world because of your age. Financial stability, expertise, maturity– the list goes on.
Age is Just a Number
Your age isn’t a reason not to start a business; it’s an excuse for your fear. Some 30-year-olds think they’re too old to start a business while some 60-year-olds are just going for it. Just because you didn’t make a Top 30 Under 30 list, doesn’t mean your journey is over. Morgan Freeman didn’t get a recognizable acting job until he was in his fifties. Martha Stewart was well into her forties when she became a household name.
There are a lot of entrepreneurial success stories that come from late starts and adversity. There are military veterans who have gone on to start everything from bakeries to coffee companies after leaving the service, despite the disabilities and challenges they have faced. Stop fixating on your age and thinking “I shouldn’t” and start thinking “why shouldn’t I?” instead.
With smart, careful planning and clearly defined goals, it’s never too early or too late to start a business. Make a plan, follow through, and see what you’re capable of.