5 Reasons it’s not too late to start a business after 35

Starting a business

You might have been wanting to start a business for years, but your circumstances and the timing never seemed to be right. With the ever increasing responsibilities of a family, bills to pay and your full time job you just never got around to it. Now you are 35 or older and most of your friends and colleagues seem content with their jobs and their career paths.

For some reason you keep thinking that there has to be more to life than going to a job every day that is just ok and wait to retire at 65.
You know that starting a business is the answer, but have you waited too long? All your colleagues and family think you are crazy for wanting to start a business at your age. Even you doubt that it’s a good idea, is it worth the risk, can you do it and how long will it take to make the business succeed and what business is good to start when you are over 35.
In this short article we will cover 5 reasons why it is not too late to start a business after 35.

Experience

You have real experience in the market place, you have an understanding of how business works.
You have worked hard for your money and understand its value.
You know what you are good at and what you will need help with.
Experience dealing with different types of people, this gives you a big advantage over younger business owners.
Experience gives you the ability to read a situation and make good decisions based on past experiences.

Your Network

You know a lot of people and those people know a lot of people as well. Like the saying goes “It’s not what you know but who you know” (it’s actually both but you get what I mean)
Building a network take years, think of all the people you have met over the years like, accountants, doctors, lawyers, insurance agents and realtors even building contractors, plumbers that would be happy to provide advice or assistance.

Financial Situation

Many times when you are over 35 you have acquired assets, such as property, stock market investments and savings. Also you have a steady job which provides a regular salary.
Younger entrepreneurs usually do not have a stable financial situation which leads to them making the wrong decisions in their business. Where as you can be patient and build a proper foundation by reinvesting any profits back into your business because you are not dependant on the business to put food on the table.

Emotional Intelligence

You are way more in control of your emotions than a 20 something that has just started a business. Over your career you have dealt with many difficult situations and have overcome them, this will give you confidence when starting your business. You have also failed before and this is a major advantage because each failure was an opportunity to learn something. Also having failed before lessens the fear of failure, which is a major obstacle for many business owners. You have more patients than your younger counterparts, realizing that nothing worthwhile happens overnight and that working constantly over a long period of time will get you the results you want.

Skills

You have valuable skills that you have acquired over your career. Things like managing people, budgeting and forecasting, sales and presentation skills, all skills that will help you in business. Granted there will be a lot you still need to learn when starting your new business but because of the internet you can acquire the knowledge easily and at low cost.

I hope that this article helps you see that it is never too late to start a business and that your age and experience are actually huge advantages that you can leverage to build a successful business.
A little bit about me, my name is Quinton, I worked 13 years in the corporate world in a job that I didn’t enjoy. I then started a business part time and eventually quit my job and am currently running my business fulltime. Please feel free to contact me at quinton@qmarketing.co.za