That’s right “old-timers” … it’s your time to shine again. If you’re over the age of 50, you’ve likely reached a crossroad in your life. And I’m not talking about retirement. Believe it or not, but your star is far from faded these days.
What I’m talking about is you being part of the 35% of first time entrepreneurs who are over the age of – 50. Yup. You heard right. Of all of the business owners who launched their first company last year, 35% of them are in the over 50 category. The charisma and risk taking required of entrepreneurs is normally reserved for the young; the people who society always says don’t have a lot to lose. Well, that’s all changing.
It appears that the older workforce is not ready to go quietly into that good night. They want to go out with a bang. And why not.
Seasoned veterans of the workforce are primed for entrepreneurship. Realistically the entrepreneur over 50 stands a better chance of success than your recent-graduate garage (or mom’s basement) startup. Perhaps the millennial has stronger tech skills on their side, but that’s not enough to off-put the vast experience of an over 50. And in terms of networking, someone who has been in the industry for 30 years will have an equally experienced and strong network to pull talent from. Compare this to the vastly inexperienced network a millennial likely has, and the fight isn’t all that fair. It’s no Rumble in the Jungle, for my over 50s out there.
I hope this news lands on encouraged hearts. At entreQuest, one of our values is passion, and where passion was once reserved for the young greenhorn entrepreneur, who at the age of 20 has the whole world in front of them, it’s now presenting itself as a second bite at the apple. If your heart is calling you towards the creative license of independence, follow.
Statistics suggest that a large proportion of new businesses don’t succeed. Although these statistics can be largely misleading, it should not be a deterrent to anyone, especially those on the flip side of 50. As I’ve already illustrated, you would be entering the new business environment with tremendous advantages. You have more than one ace in the hole at 50, so your hand is looking pretty strong.
If 50 is the new 20, then you’ve got many years ahead of you to grow your new business into an incredible organization. Take full advantage of your experience. And as always, Grow Regardless.
