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10 reasons to start a business in your 50's
1 Freedom to be yourself
Reaching 50 may be the first time in your life that you have the freedom, from other people’s expectations, to really be yourself
2 Experience to build on
You have been there, done it & probably have the t-shirt. From half a lifetime of work and learning to manage all types of people and situations – making mistakes and growing from them – and yes, lots and lots of great achievements – you are now in a position to make all that wisdom start to work for you.
3 Energy and Zest
Postmenopausal women often have a new surge of energy. Anthropologist Margaret Mead called it ‘postmenopausal zest.’ It inspired her to personally challenge the view of older women as being ‘over the hill’ as well
4 Time
The nest is likely to be empty. The 30s & 40s are when women’s lives are usually busier than ever with career and family demands. For many women it isn’t until they hit their 50s that they finally have some time to think.
5 Money
You may well have cash on your hands for the first time as well, but also you may be facing an empty pension pot. Maybe you’ve finally paid the mortgage off, got a redundancy payment, benefited from an inheritance, or even a pension.
6 Contacts
The older you are the more people you know! And there’s a lot of truth in the old adage: “It’s not what you know, but who you know that matters.” So make sure that you make the most of connections old & new. LinkedIn is a great way to keep your network fresh.
7 You know yourself
Building relationships is essential in most businesses. And it is much easier to understand and empathise with others when you are comfortable with yourself. The more you’ve been through, the more likely you are to have got there.
8 You’ve dealt with failure
Few people reach 50 without some experience of failure. You have to feel sorry for those who’ve led entirely gilded lives, as one wise friend said ‘you don’t know who you really are until you’ve had a comeuppance!’ A significant failure can be a blessing; giving you the push you need to follow a dream at last.
9 You are more likely to succeed in business
Starting in business when you’re over 50 seems to increase your chances of success. Research from Aston University finds that 48% of the over 50s succeeded after 5 years in business compared to only 29% of those aged 18–49 years old.
10 You’ve years of work still in you and lots to give
June Zaft founded her business Country Walks 17 years ago aged 52. ” I continue to find the challenges uplifting and stimulating,” she says. “I feel very privileged to have a business which still remains a passion and which I fully intend to maintain until I drop. I firmly believe that ‘work’ keeps you young and providing you enjoy good health and fitness, age is no barrier.”
So there you have it. Starting a business is a big step, but if you are over 50 there might just never be a better time. CREDIT~Prowess.org.uk
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