The 50-60-Something Start-up Entrepreneur: How to Quickly Start and Run a Successful Small Business. This 3-article series focuses on older entrepreneurs who want to start a business.
Today, when younger
entrepreneurs get so much media attention, it may seem that they have a head
start, but in fact, there are twice as many successful entrepreneurs over 50 as
under 25 (yeah baby). Apart from life experience, a 50 or 60-something entrepreneur
has a couple of other advantages over a young entrepreneur, even if he or she
is only starting their first venture. Listed below are just a few reasons why
50+ is a great age for anyone to make his or her dream of being an entrepreneur
come true.
Richer Network Connections
By the time you reach 50 or 60,
you've probably built at least a few strong professional connections, some of
them perhaps even reinforced by strong friendships and other ties. This is
especially true if you've been working in the corporate world. Knowing other
people in an industry you are interested in, whether they are on the management
ladder or not, can be a treasure trove of insight, advice, business
opportunities, and perhaps even partners and staffing resources.
Stability and Endurance
Being an entrepreneur is
rewarding, but it can also be demanding, especially with your time and money.
By the time they turn 50, many aspiring entrepreneurs have a family, own a
house, and are more secure financially than they were in their 20s or 30s. Many
are even likely to be grandparents. Having a strong and stable personal and
financial foundation gives entrepreneurs in their 50s and 60s the stability and
endurance needed to steer a business on the path to success.
Clarity and Focus
Entrepreneurs over the age of
50 are more likely to invest their time in projects that have a social,
cultural, or environmental impact that matters for future generations. By the
time you're 50, time has likely helped you filter your passions and embrace
those which are not only the most important for you, but which have the power
to do good. From this understanding springs the clarity and focus of applying
all your energy and resources on building something that matters, not just for
you, but for others, too.
Patience
Patience is a virtue in the
world of business. There are plenty of young entrepreneurs who have it, but
it's one of those virtues that the years tend to polish and refine. An
entrepreneur in his 50 or 60 has seen enough in his or her life to know that
rushing things, making impulsive decisions, or acting on the spur of the moment
is often bad for business.
With 50 or 60 of years of life
experience behind you, you will be less likely to force the growth of your
company, quit when the going gets tough, or go to market too early. You have
the patience of experience.
Empathy
As we grow older, we tend to
become increasingly aware of the problems and challenges those around us are
facing. The same is true for entrepreneurs. After 50 or 60, entrepreneurs tend to
have deeper reservoirs of empathy for those around them. This can translate
into a more considerate approach to management that creates a pleasant
workplace environment which naturally attracts people.
Better Fear Management Skills
Fear of failure, fear of
stagnation, or fear of competitors getting ahead are only three of the fears
entrepreneurs have to manage. All too often, these are background fears that
can surge at any moment during challenging times. The 50 or 60-something
entrepreneur knows fear and, like most people, has likely battled with his or
her own fears during his life. He or she has developed a natural fear
management and response mechanism that minimizes fear as a factor for their
decisions.
As C.S. Lewis said, "You
are never too old to set another goal or to dream a new dream." Being 50
or 60 years old is not only a great age for being a successful entrepreneur
today, but it's actually good for business.
Article Source: http://EzineArticles.com/expert/P_Lorraine_Wigglesworth/969794
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