Skip to content
Home » How To Start A Business When You Think You’re Too Old – Mark R Graham

How To Start A Business When You Think You’re Too Old – Mark R Graham

How To Start A Business When You Think You’re Too Old - Mark R Graham

You’re never too old to make your mark on the world and start a business, no matter how daunting it feels. Oftentimes people feel discouraged from taking a leap into entrepreneurship because they think they’re too experienced or beyond their prime, but this couldn’t be further from the truth! With enough research, foresight, and an adventurous spirit — anyone can become an entrepreneur at any stage of life, so if you’ve been dreaming of starting a business but don’t know where to begin, fear not! Read ahead for helpful tips by Mark R Graham on how best to take that first step toward becoming your own boss.

Mark R Graham On How To Start A Business When You Think You’re Too Old

For many entrepreneurs, starting a business when you think you’re too old can be intimidating, says Mark R Graham. After all, the entrepreneurial landscape is often dominated by young founders who have just started their careers. However, with more and more people in the workforce remaining active in what used to be considered the traditional retirement age, it’s no surprise that older entrepreneurs are becoming increasingly common. In fact, according to January 2020 data from the Kauffman Index of Startup Activity, individuals aged 55-64 represented 22% of all new entrepreneurs in 2019 — up from 14% in 1996.

Starting a business as an older entrepreneur comes with certain advantages over younger counterparts. These include access to experience that can help inform and shape your venture, deeper pockets that can provide the financial resources to fund your venture, and a well-developed network that can help promote and grow your business. To ensure success, however, you must be prepared for the unique challenges associated with being an older entrepreneur.

First and foremost, self-doubt is one of the biggest obstacles faced by older entrepreneurs. Many are unsure if they have what it takes to succeed in a startup environment. They may also worry about their age when competing against younger founders as well as how their venture will fare against more established businesses. It’s important to remember that age is just a number, and there are plenty of successful entrepreneurs over 65 who have had great success in their ventures. By acknowledging these concerns and embracing them as a challenge, you can set yourself up for success.

In addition to self-doubt, older entrepreneurs must also be prepared for the physical and mental demands of launching and running a business. As we age, our stamina decreases, making long days more difficult and sometimes even impossible. To combat this issue, it’s important to build a strong team that can help carry some of the workloads. Additionally, prioritize rest and relaxation whenever possible in order to maintain your physical health so that you can continue working at an optimal level.

Finally, as with any entrepreneur, older founders need to have access to knowledge and resources in order to succeed, says Mark R Graham. Fortunately, there are several organizations specifically geared toward helping older entrepreneurs start their businesses — such as the American Association of Retired Persons (AARP) and the National Center for Senior Entrepreneurship (NCSE). These organizations provide support, resources, and guidance to entrepreneurs over 50.

Mark R Graham’s Concluding Thoughts

Business success is achievable at any age — you just need to be willing to put in the work. According to Mark R Graham, by leveraging your experience and taking advantage of available resources, even those who are considered “too old” can achieve their entrepreneurial dreams. Take inspiration from successful older entrepreneurs such as hotelier Bill Marriott, fashion designer Vera Wang, and media mogul Oprah Winfrey—all of whom launched their businesses after the age of 50. With enough dedication and perseverance, you too can turn your business idea into a reality — no matter what your age might be.