You’re Never Too Old To Start A Business - Simple Steps To Get Started
I hated hearing success stories of people who reached huge success early on in life. There were amazing dancers who started dancing at age 4 and graced stages on broadway by their mid-teens. There were gymnasts doing backflips since they could walk and earning medals before their twenties.
Then there were the Mark Zuckerburg's of the world, creating million dollar websites in dorm rooms.
These stories never inspired me. Instead, I thought about how I spent my youth ignoring my teachers, playing video games and sleeping while others chased dreams.
I spent my teens thinking about cute boys and prepping for college only to use those college years clubbing and chasing a degree I didn't use.
When I finally had the desire to build a business, I couldn't help but wonder "Am I too late?"
Comparing myself to these people who had big dreams since birth, I worried that I was too old to start something. I worried my time had passed. I was in my mid-twenties. (I know, silly right?)
Once I started building Thrive Lounge, I realized that many of the women who were in my courses and hosting Vision Board parties were in their 50's - completely debunking fears that I had in my early twenties. They showed me that starting a business at 50 or older is totally possible……you just have to get started.
But really… Am I Too Old?
Quite simply…… no.
At age 87, my Great Grandmother serves as an usher in her church and makes extra income from home by babysitting - after being retired for nearly 30 years.
You are unable to start a business when you can no longer create or communicate, and to be honest that has nothing to do with age. It has to do with ability.
As long as you can create value in this world, you can exchange that value for profit.
Why Should I Start A Business Now?
There are a lot of reasons you might want to start a business and I've listed some below. Before you get started creating anything, you'll want to understand exactly why you want a business.
Having a solid reason why will help you to follow through when times get rough.
Supplement your retirement income
Many Americans do not save enough during their working years to fully fund their retirement. Starting a side hustle while you're working can help you boost your savings and help with retirement catch-up.
If you’ve already retired, then starting a side hustle can help give you a better quality of life during your remaining retirement years.
Retire Early
Others may have done a great job saving during their working years, but want to leave their job a bit earlier than they anticipated. Maybe your job no longer fulfills you or you feel that a different purpose is calling you.
A side business can help you close the gap between the retirement savings you have and what you need to sustain your lifestyle until you are able to tap into those funds.
Fill your soul with the work of your choosing
If you've spent years working in a place that drains your spirit or energy, then you might simply be ready to do something for YOU. And that is 100% OK.
Starting a side hustle or business while you're still in the work force can help you to pay off debt and save extra money. Over time, you can grow your business enough to be able to quit your day job and transition into the business that you created for yourself.
Help the people you want to help
When you start your own business, you get to choose the people you help. I decided to start Thrive Lounge because I wanted to help women like me - the women who felt like they gave too much, dug themselves too deep in a hole and lost themselves in the service of others. I wanted to help these women find their identity, create a lifestyle they love without judgment.
Create the lifestyle you want after the kids have left home
The older you get, the older your children will get too. They'll need you less, and eventually, they won't need you at all. Those little people that dictated your schedule, are all grown up and your schedule is yours to fill with the activities of your choosing.
Share your experience
You've spent years going through unique experiences - the good the bad and the ugly - and you got through all of them with your head held high. You built mental tools, professional skills, and a network that helps you accelerate through any challenge you come up against. Those experiences can now be used to serve others in a way that no one else can. There is only one you. No one can tell your story like you can.
What kind of businesses can I start?
The very first challenge holding people back is wondering what kind of business to start, but this is very simple because there are three business types that you can start.
Service-based business
Service-based businesses perform a service. Examples could be meal prep, coaching or cleaning services. My great-grandmother has babysat children for her neighbors. We train people to host vision board parties and workshops in their own communities.
Product-based business
In a product-based business, you sell a physical product. For example, people who bake can sell cakes, pies, and cookies. Painters can sell artwork. Writers can sell books.
Information products
Information-based businesses package and sell knowledge. For example, someone who knows a language can teach others how to use that same language.
How To Start A Business (or Side Hustle) At Any Age
Start with defining a "why" for yourself.
Above, I've already outlined some great reasons you should start a business. But those reasons could apply to anyone.
Before you jump into anything, I want you to write down the one BIG reason you specifically want to start a business.
Determine what you're good at.
You've built up experiences and skills over your lifetime. Make a list of all the things you could sell as a service or product.
Make a game plan to get started.
If you're active in your community, this could be as simple as letting people know you're looking for a gig. You could reach out to your Facebook, LinkedIn or other social media networks to let people know what you’ll be doing. You could join local small business chapters in your town to start networking.
Set your prices.
Set a price that feels good for you at first. Something that you can say out loud with confidence and that doesn't make you feel like you're selling yourself short.
Actually sell one product or service.
This is where most people get stuck. It's easy to do the prep work, but you don't have a business until you go out there and sell something. Focus your energy here.
If you can make one sale then you know that your business idea is something that people will pay for. That means you can have confidence that you can sell again and again.
How To Get Started Right Now
1. Say it out loud "I'm the perfect age to start a business." You must convince yourself that you're ready before you can convince anyone else.
2. Brainstorm different business ideas. Start by simply brainstorming the possibilities.
3. Pick One. Here's the moment of truth. Choose one idea from your list to devote your energy to. You don't have to marry this idea for life, but you gotta start somewhere to grow.
There is no age limit on when you can start a business. As long as you have a desire in your heart to build something using your creativity, experience, and skill, you're ready. Take action today. One step at a time.
Want a Guide To Start Planning Your Vision Board Workshop or Group Party?
· Check out the Thrive Lounge vision board workshop STARTER KIT right here.
· Great for beginners or those that want to up their game and refresh their vision board workshop presentation.
Or
· Plan, promote & host your first (or next) professional & profitable vision board workshop with our signature course, Sold Out Vision Board Parties.
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About the author
Cyrene is a fun and accomplished workshop facilitator, learning and development guru and Human Resources professional. Being at the helm of Thrive Lounge has been a long-time dream. Through vision board workshops she plans to accomplish two-way learning. Sharing her vast years of knowledge to motivate and encourage others; while simultaneously getting the reward of great energy, ideas and questions to ponder back from each group. A super win-win.