I am an olderpreneur. When I started thinking about starting my own business, I did wonder if I had left things too late. This isn’t a cry for compliments, for an outpouring of people telling me that life begins at….. I just knew how much hard work and energy is needed to make a business a success.
I kept coming back to the fact that only I can bring about change in my life. If I wanted to start this venture, I would need to make things happen. I think administration is chronically undervalued in the workplace. That’s not about to change any time soon and so here I am. Staring down the barrel of 50 and working hard to get Help With That to succeed.
Turns out I am not alone. The 2021 census by Barclays revealed significant findings. It showed that the number of people starting their own business in later years has risen dramatically. They account for 43% of those who have started their own business. This could be due to a number of factors. Is it ageism and difficulty finding meaningful employment? Feeling undervalued? Job market challenges? The list is endless, but for me it was about wanting to try.
I have spent 30 years organising everyone and everything. I wanted to be my own boss, gift myself the freedom and flexibility. To enjoy the sense of achievement that building a successful business brings. Setting my own terms and boundaries instead of doing it all for somebody else’s benefit.
The even greater news?
A study conducted by AgeUK and Aston University found promising results. They discovered that 48% of businesses started by individuals aged 50+ were still succeeding after 5 years. This compares to 29% of those in the younger age bracket.
Why is this? Well, with age, comes wisdom. If you have made it to 50, you will likely have faced challenges that build resilience. Not to mention the armfuls of experience and skills. Perfect qualities for an olderpreneur.
So Why Start A Business In Later Years?
For me the timing felt right. After years of making things happen for everyone else, I wanted freedom, recognition and independence. I wanted to directly feel the rewards and benefits from my work ethic. Years of pulling out all the stops and making the impossible happen. I wanted the gains from that to come to me directly.
But, it’s not easy. Particularly in the early days of starting a business the overwhelm is real. I became very aware of all the things I didn’t know how to do. Add in a bit of comparisonitis and suddenly the self doubt became an issue.
I have spoken to many founders who have felt at times close to burnout. Many more reference the loneliness of being your own boss. It doesn’t have to be this way.
How Small Businesses can benefit
If you are a small business owner., the rise in experienced olderpreneurs presents a great opportunity. There is a like minded community who understand the challenges. The rise in experienced freelancers mean that businesses can use specialists who bring knowledge experience and efficiency. Without the burden of employment costs.
Here’s why outsourcing to an olderpreneur makes sense
- Experience and efficiency: Freelancers with years of experience do not need extensive training. They are experts in their field and can hit the ground running.
- Cost Effective: You pay for the work agreed. No National Insurance, no pension contributions, no holiday pay.
- Results Focused: Unlike employees who are paid for their time, you pay freelancers for their output. That means greater productivity and more control over your bottom line.
- Flexibility: Businesses can scale up or down as they need. Making outsourcing a more adaptive agile approach to a businesses needs.
So to all my fellow olderpreneurs, let’s do this. Let’s support each other, use that expertise and make our mark in the world. Of course , if you are looking for some administration support. Getting that project started, getting that project done, let me know. Get in touch and see how I can support your business.