Moral Reasons for Doing Business at An Old Age

“Owning a business is daunting, with long hours and plenty of stress. But it's important to follow your dreams and chase your big goals — just chip away and try not to let the bad days bring you down. To succeed and reap the wild roller coaster ride”

Iwanted to pass along encouragement to those who have been considering starting a business later in life. As time passes by and you gain insight into what truly makes you happy, I encourage you to do your research, have a good plan and move forward — take the leap and launch your business! Do not live with regret.

Here are 3 reasons to why it’s good doing business at an old age;

UTILIZE YOUR WISDOM

Even though you may not feel as spry as you did when you were 20 starting a business at an old age— all the wisdom you gained from your many mentors in your corporate life will give you the solid building blocks to have the and professionalism necessary to navigate through all the daily challenges of owning your own business. Utilize the wisdom and skills you've acquired during your lifetime to blossom your business.

GET FUNDING

It may be easier for more "mature" to start a business later in life. Some have had the opportunity to save over the years or leverage retirement savings for funding their business. You may also be able to have business partners helping with their capital contributions, as well as some money from your retirement account or loan to the business. You will later be able to pay yourself back with interest as your business grows. Also, everyone needs to be aware of what they are getting into. Starting a business is the hardest thing I’ve ever done in my life. If you’re going to make the leap, know that you will work hard and have to beginning) and might not have much of a personal life, due to the time commitment of running a business.

LEVERAGE CONNECTIONS Don't be afraid to leverage the connections you have made, both personally and professionally. There are many people — in particular, other small business owners — who know what challenges you face. Ask them: Do they know the best way to advertise your brand? Who are the best contractors to hire? Does their business need someone to locations to rent available near their businesses where you could open a store or further expand your business? Leverage friends and family for help, whether it’s running to the store for you, helping with posting to social for you. If someone is good with bookkeeping, spreadsheets or typing up letters — recruit them!