Starting Your Dream Business in Your Middle to Late Years

Starting Your Dream Business in Your Middle to Late Years

Starting Your Own Business in your middle to Late Years is more possible than you may think.  In reality, if you’re in your forties, being the next big entrepreneurial success story might not come across your mind. Yet, middle-aged entrepreneurs are owning the market in the steady rise of businesses worldwide. According to Inc. magazine’s, Starting a Business in Your 40s Makes More Sense Than You Think, those who take the entrepreneurial plunge in their mid to late forties are far more likely to succeed in launching a new business than those 20 years their junior.
It’s a popular belief that young people are the bearer of breakthroughs while the middle-aged have too much to risk to even start a business. The problem is, that’s not true! Young businessmen like Mark Zuckerburg and Andre Mason did rise to become one of the wealthiest before 30, however, most of the successful entrepreneurs known to mankind had their break during their midlife. This proves that you’re never too late to realize your billion-dollar idea.
Twitter started with Evans William at 34 years old. Henry Ford founded Ford Motor Company when he was 40 while Asa Candler launched Coca-Cola at 41. Gordon Bowker took coffee at a higher level with Starbucks at the age of 51, McDonald’s first flipped its burgers with Ray Kroc at 52, and Arianna Huffington shared news through Huffington Post when she was 55.
Now here you are, getting on in years, with the same aspirations you had 25 years ago. You might think opportunity had already passed you by—Pshaw!
Don’t be fooled by people’s opinions. Like all other 40-to-50-somethings, you’re right on time. Once you got your idea and a capital to use, there’s no better time than the present to start your dream business.

What They All Have in Common

Being an entrepreneur means taking a risk, but still having smart decisions in mind. This is where the middle-aged have an advantage. Their years of industry experience, reliable financial resources and goal to create a business that will benefit others going forward increases the odds to success. Unlike the young, mature entrepreneurs are more cautious, with greater sense of responsibility and are likely to commit to what they do as they have much to lose than those who’re still in their 20s.
Starting a business also requires a solid product or service. A unique idea is good, but it’s not a requirement. You just need to sell it different or better—making it big always depends on your passion and interest.
Try to imagine a life without Ramen noodles. Thanks to 48-year-old Momofuku Ando in 1958, it is now, more than half a century later, a staple “go-to” snack, which is a must-have in many college dorms across the country. Many companies reproduced this idea with twists in variations and are making money out of it.
Everyone, regardless of age, should research any venture thoroughly. Not only will you be able to know how your business can go in the long run, it will also reduce risks of falling short when launching your business.

Your Advantage

Compared to your younger counterparts, you have a treasure chest loaded with an arsenal of assets you’ve spent years accumulating. It’s now time to open it up and use your edge to build your dreams.

• Experience: You have years of hard work and real world experience under your belt. You’ve seen, been, and done a lot of different things. You know what you want and how you intend to get it.
• Networks: You’ve been doing what you do for a long time and know who is who. You know a lot of people, and have great professional and personal connections. Your years of experience have helped hone exceptional interpersonal skills to get partners and even customers trying out your product or service.
• Responsibility: You’re not afraid of responsibility—you take it head on. After all, you’re already taking care of a family, home, car, and paying all your bills. You have a true understanding of how to lead and be in control, along with the ups and downs that come with it.
• Passion: Every entrepreneur has a deep passion to strive for success, which is exactly what can catapult you right to the top. Unless you have this, your dream to make thousands or even millions won’t happen.
• Resilience: Being a little older, you are apt to be more flexible and can better handle all of the frustrations that come with starting a new business. You are less likely to throw in the towel at the first sign of adversity.
• Accountability: At the end of the day, you will stand behind your decisions. You are willing to admit when you make a mistake and work harder than anyone to fix the problem.

Midlife Action Plan

Remember, age is not a factor in determining success. You’re ready to hit the ground running and it’s time to put yourself out there. Make connections and get some advice from people who’ve been where you are now. Talk to a financial expert to ensure you’re on the right track, and get your ducks in a row.
Depending on your financial situation, you might want to consider taking on a partner to ease some of the startup pains. You should also look into Angel Investor Groups in your state for startup funding in case your capital is not enough for your startup.
Always know you can make your dreams happen and midlife is the right time for it.

Watch a Free Video to Find Out More, Click Below

Remember, All Things Are Possible!

SusanTuck.com
Facebook
susantuck.mobe@gmail.com
Google+
Linkedin
Blogger.com
Pinterest