As people get older, they often have to give up on their dreams. Fortunately, those with dreams of being an entrepreneur don’t have to. This type of dream doesn’t have an expiration date like being a doctor or a policeman. You can be a business owner at any age – there are even senior citizens who are entrepreneurs. There are even advantages to becoming an entrepreneur later in life.
One big advantage is that you’re far more likely to be financially stable. In your 20s and 30s, you’re just getting started in life. You often have massive student loans and scrambling to come up with the deposit for a house downpayment.
Later in your career, things are hopefully different. With career development, ideally, you have ample savings. Now you have a house with home equity you can tap into. These added funds make it easier to find your entrepreneurial idea and more runway for a successful launch.
Often, young people are very cocky and arrogant. They don’t listen to advice and make foolhardy decisions. This mellows out with age. Older people are, in general, open to learning from others. For example, you could seek out help from a mentor. The local Small Business Administration office might be able to find someone for you.
When you’re single, it’s hard to do everything on your own (much less start a business). If you have a family, you have additional help. This means extra help for the housework or maybe even participation in the business. While your children can help with chores, your spouse could help with bookkeeping.
The hardest thing is to just get started. You can start even if you have a job. For example, with something like photography or consulting, you can provide services while you have a full-time job. Just keep your building your portfolio or list of clients, and things will snowball.
As you get older, it might get a bit depressing that you’re giving up on your dreams. Fortunately, with entrepreneurship, there is no expiration date. You can become a business owner at any age. Just don’t listen to the naysayers and make a determined effort to get started.