Working for Yourself When You're Over 50 Stoke
Many successful businesses are now being launched by those over 50, an age and stage where people have plenty of energy, skill and wisdom and the need for financial reward is perhaps less pressing. As at any age there are many challenges to overcome but as this article explains a clear view of what you want to achieve is the solid foundation of becoming a successful olderpreneur.
J K Connect
01768 863025
01768 863025
P O Box 60
Penrith
Penrith
Profit Focus
01228 409770
01228 409770
23 Carlisle Enterprise Centre
Carlisle
Carlisle
Taylor Quality Ltd
01697 742177
01697 742177
6 Ridley Gardens
Carlisle
Carlisle
MR M THORPE
01434 344087
01434 344087
3 TOW HOUSE GREEN
Hexham
Hexham
Business Improvement
01768 885049
01768 885049
Lyncote
Penrith
Penrith
Babtie Group Allot & Lomax
01946 816815
01946 816815
Inovations Center
Moor Row
Moor Row
Brathay Hall Trust
01539 432768
01539 432768
Brathay Hall
Ambleside
Ambleside
H V R Consulting Services Ltd
01229 870099
01229 870099
Trinity Enterprise
Barrow in Furness
Barrow in Furness
Brian Wilson & Associates
01539 552330
01539 552330
Garth Beck
Grange Over Sands
Grange Over Sands
Made In Cumbria
01539 732736
01539 732736
County Offices
Kendal
Kendal
Working for Yourself When You're Over 50
Why would someone over 50 want to work for themselves rather than being employed?
Statistics show that most 'small' start up businesses are neither particularly profitable nor particularly successful (there are high initial failure rates), so why would someone who is sane, solvent and over 50 want to embark upon such a high risk endeavour?
Experience shows that most people start out with one or more of the following factors as motivation:
• a good idea which they believe they can develop and exploit (personal satisfaction)
• a desire for more flexibility and control (freedom)
• a need/want for new challenge (excitement)
• a burning desire to make a difference in some field (passion)
The idea of making serious money is usually always a 'would be nice' rather than a true goal or motivator. If it happens, it is usually a side-product of the passion, commitment and motivation which goes into the business, rather than an expected output.
Risk reduces with age
Certainly it is easier and less risky to remain employed - the pay slip, holidays and benefits are guaranteed, and there are the added comfort of backup, support and motivation from workmates. For both men and women this is hard to give up particularly if mortgage, marriage and children are still hungry cash consumers.
The good news however is that as you age, your likelihood of establishing a successful business increases considerably. It is truly a case of “wisdom wins”.
And the additional piece of good news for females is that many women make great entrepreneurs; they tend to be creative, good at multi-tasking, can be hugely passionate and committed about their business, and sometimes have a working partner to supply some financial security.
Balancing work and family
However, it cannot be overlooked or underestimated that for those over 50s – male or female - who have partners and children and generally are still the mainstays of keeping the financial show on the road, being self-employed does represent a risk.
Furthermore, home commitments such as family life and holidays do not always sit at all easily with the workload of a self-employed entrepreneur - unless they are making so much money that they can afford to hire employees (usually not an immediate option).
In respect of entrepreneurial 'glass ceilings' – the issue of how successful it is possible to be - one of the biggest factors influencing the progress of 'entrepreneurs' of all types and at all stages is lack of confidence.
This is even more marked for those in later life (particularly males) who may have had a successful employed career and are now wary of failing in business.
There are many challenges to be faced in starting a business over 50. But certainly age is no barrier and there are many rewards. Amongst all else the magic for many “olderpreneurs” lies in achieving their life’s ambition and proving what they can accomplish at a time in life when others might be thinking of slowing down.
Click here for more information from in my prime about working for yourself over 50
Statistics show that most 'small' start up businesses are neither particularly profitable nor particularly successful (there are high initial failure rates), so why would someone who is sane, solvent and over 50 want to embark upon such a high risk endeavour?
Experience shows that most people start out with one or more of the following factors as motivation:
• a good idea which they believe they can develop and exploit (personal satisfaction)
• a desire for more flexibility and control (freedom)
• a need/want for new challenge (excitement)
• a burning desire to make a difference in some field (passion)
The idea of making serious money is usually always a 'would be nice' rather than a true goal or motivator. If it happens, it is usually a side-product of the passion, commitment and motivation which goes into the business, rather than an expected output.
Risk reduces with age
Certainly it is easier and less risky to remain employed - the pay slip, holidays and benefits are guaranteed, and there are the added comfort of backup, support and motivation from workmates. For both men and women this is hard to give up particularly if mortgage, marriage and children are still hungry cash consumers.
The good news however is that as you age, your likelihood of establishing a successful business increases considerably. It is truly a case of “wisdom wins”.
And the additional piece of good news for females is that many women make great entrepreneurs; they tend to be creative, good at multi-tasking, can be hugely passionate and committed about their business, and sometimes have a working partner to supply some financial security.
Balancing work and family
However, it cannot be overlooked or underestimated that for those over 50s – male or female - who have partners and children and generally are still the mainstays of keeping the financial show on the road, being self-employed does represent a risk.
Furthermore, home commitments such as family life and holidays do not always sit at all easily with the workload of a self-employed entrepreneur - unless they are making so much money that they can afford to hire employees (usually not an immediate option).
In respect of entrepreneurial 'glass ceilings' – the issue of how successful it is possible to be - one of the biggest factors influencing the progress of 'entrepreneurs' of all types and at all stages is lack of confidence.
This is even more marked for those in later life (particularly males) who may have had a successful employed career and are now wary of failing in business.
There are many challenges to be faced in starting a business over 50. But certainly age is no barrier and there are many rewards. Amongst all else the magic for many “olderpreneurs” lies in achieving their life’s ambition and proving what they can accomplish at a time in life when others might be thinking of slowing down.
Click here for more information from in my prime about working for yourself over 50