written by Alexandra Stewart
For many, it is a lifelong dream to start a business. However, few achieve it as they get older and think that they are past things like that. The funny thing is that it can actually be far better to start a business when you are older. It is not too late to start your own business, and here is why.
You Have Experience
You have a lifetime of experience and knowledge in a wealth of fields. Even if you have never worked in business before, you have almost certainly been involved in business at some point. Whether you have worked in a supermarket or on Wall Street, you have a lot of experience to bring to the table.
It is all about playing to your strengths. The more you develop a business idea, the more you realize where your talents lie. It might be that you have a lot of creative advertising ideas that no one else has thought of before or that you are very good with finances and bookkeeping. Maybe you are brilliant at designing logos or posters.
Many people who have been stay-at-home mums or dads in their lives find building a business far easier than raising children. It takes all the same skills, organization, tactfulness with confused customers (toddlers), and excellent timekeeping. All of which are skills gained in the world of parenthood.
Your experiences across your life have shaped you into the person you are today. If you use them in a business, you are bound to find you enjoy it more than you expected and have more successes than if you never tried.
You Have Money
Many young people are trying to start businesses that do not cost them any money. This is a difficult road. To set up a good business, there should always be some sort of primary investment. You need stock or supplies, advertising, and product packaging. Signs and business cards and a website or premises or both.
Starting a business when you are older means that you have the finances to drive it from the beginning. This can give you a big leap above the rest, especially as you can outsource work to professionals such as SEO-trained content writers and website designers. Be aware that there are many free options out there and do your research before spending money on anything at all for your business. It is one thing having the money to spend on the right things and another wasting money on pointless subscriptions or overpriced, non-findable websites.
You Have Time
A lot of young entrepreneurs are working a job on the side of their business just to pay the bills. This is something that older people do not often have to do. You have the time to fully concentrate on your business idea, the planning of it, and putting it into action. This puts you in a great place as when you focus your attention on something and are able to give it 100% of your energy, and you will probably find you get a far better result.
You Know What You Want
Lastly, you are older, mature and you know what you want. You probably have that one big idea sitting in the back of your mind that you have been thinking about for years. Firstly, check it hasn’t been done yet – if it has, don’t give up – go back to the drawing board. If it hasn’t been done, then do it! You only live once, and your chance is now.
Starting a business when you are older is a great idea. It gives you something to do and can make you a lot of money. Don’t put all your savings into it, be sensible and see it as a work in progress. The more you learn the more serious you can get with your spending.
About the author
Alexandra Stewart has a degree in marketing. When she finished college, she became a freelance writer, took a shining to it, and wrote ever since. When she’s not writing, she’s being a plant mum and taking care of her hydrangeas.