7 Questions For Women Wishing To Launch A Business In Midlife
According to the Guardian Newspaper, did you know that a ‘…fifth of new businesses being founded is by over-55s?’
The article goes on to say that:
‘…it is a boom time for middle-aged entrepreneurs’.
This is great news for those of us who are in the ‘middle’!
I’m wondering, do YOU have an idea for a business at the back of your mind?
As a woman in mid-life and in business myself, I love that more and more aka ‘olderpreneurs’ or, ‘encore’ entrepreneurs are taking the plunge and choosing to share their worth, skills and experiences with the world.
According to the Telegraph Newspaper:
“…research suggests that businesses started by older people tend to have a 70% chance of making it through the first five years, whereas, among businesses started by younger entrepreneurs, the figure is only 28%.”
So, over to you…
Time to get your thinking cap on - here are some prompts to consider and journal through that might be helpful to ask yourself, if you are interested in launching a business but are struggling to come up with a constructive business idea.
What is that ‘thing’ that brings you joy? If you like to journal, jot down some activities that you love to do. For example, that might be drawing, gardening, designing, computing, organising, mentoring etc.
Now, list 100 things you’re good at. Then, from that list, circle 20 things that you really enjoy doing. Now, from this list of 20, choose 3 that you’re good at, that you love to do AND that people will pay for.
What specialised skills have you acquired so far? For instance, nursing, counselling, coaching, retail, corporate, teaching, catering, accounting, writing etc.
What contacts do you have? Over the years you will have met many people either from your personal life or work life. Who might you call upon?
What experiences have you been through that could be useful or inspiring for others? It’s a fact that as we go through life, we inevitably encounter challenges, heartache or, just times of testing. Maybe these chapters in your life could help someone else and form part of your business.
Do you have a contingency plan? As with any business launch, it’s always a good idea to have a ‘B’ plan especially, as the older we get, there are often more drains on our finances with older children, university fees, insurance etc.
Don’t wait until you have everything 100% planned. Yes, get some traction going for your business but at the same time, take baby steps.
Starting a business in midlife can be daunting, exciting, and incredibly rewarding. If you’re considering taking the plunge, be sure to ask yourself the questions listed above to make sure you are ready.
And, if you need help with your business, I offer website design, and marketing support services. Please contact me to book a free discovery call. We can chat through your needs and goals and check if we’re a good fit.
I’d love to help you bring your business to life!
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