Let's explore late-life entrepreneurship.
As I dive deeper into affiliate marketing at 70 years old, the classic hit by Garth Brooks comes to mind – "Much Too Young (To Feel This Damn Old)." So why not explore its relevance to those embarking on the exhilarating journey of starting an affiliate marketing business or any other business later in life?
Researchers have observed an increase in entrepreneurial activity among older individuals. When asked why they wanted to set up a business later in life, twice as many women than men expressed the desire to realize a long-held ambition. Over the past several years, the number of women-owned businesses in the United States has climbed to nearly 13 million, accounting for 42% of all U.S. businesses. These ventures have grown at double the rate of all U.S. businesses.
For some, starting a business after retirement is a financial necessity. According to a 2018 survey, women 65 and older are more likely to become entrepreneurs because they've lost a job or need additional income. More than 28% of those surveyed said they became entrepreneurs out of necessity.
Contrary to popular belief, entrepreneurial success is for everyone. In fact, the highest rate of entrepreneurship worldwide now belongs to the 55-64 age group. Since 2008, entrepreneurial activity among those over 50 has increased by more than 50%. In the U.S., a staggering 34 million seniors harbor dreams of starting their businesses. And why not? Age brings wisdom, grit, resilience, a wealth of life experience, and a unique perspective to navigating uncharted territory. Use it to your advantage! Your wrinkles? They're just road map lines to your success.
Starting any venture later in life does come with challenges. You might battle self-doubt, fear of technology, or the perception that you're "past your prime." But guess what? You're not alone. Many successful entrepreneurs began their journeys after hitting the half-century mark. Embrace the learning curve; it's your secret weapon. Unlike the impetuous youth, you've accumulated wisdom — lessons learned from both victories and setbacks. Leverage this treasure trove! Your ability to see the bigger picture, make informed decisions, and weather storms sets you apart.
Sure, you've missed some entrepreneurial buses. But consider this: You've also dodged a few wrecks. While others were chasing trends, you were honing your instincts. Embrace your unique perspective. It's not about catching up; it's about blazing a new trail. Your age isn't a liability; it's your secret sauce. You've shed the need for validation, the fear of failure, and the obsession with overnight success. Instead, you're fueled by passion, purpose, and the joy of creating something meaningful. That's the maverick spirit — the heart of entrepreneurship.
Connect with fellow entrepreneurs, regardless of age. Seek mentorship, collaborate, and learn from those with proven success. Age is just a number; your network is your lifeline. Your journey is uniquely yours. Embrace the adventure, celebrate the wrinkles, and remember that every sunrise brings new opportunities.
As Garth Brooks croons, "I'm much too young to feel this damn old," let it echo in your heart. You're on time; you're right on time. Keep dreaming, celebrate the wrinkles, and may your business thrive.
Kay Granger
Let's explore late-life entrepreneurship.
Devin Midro’s Market Research
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