When I first sold my company in 2011, I asked myself, What’s next? Start another startup, join a startup, or join an enterprise?
Instead, I invested in several startups, mentoring the Founders, helping others start their businesses, and facilitating exits.
Fast forward 14 years, and the world has changed so much that Blockchain, AR, VR, and AI have dominated businesses. So now, at 50 years old, what is next after three heart ops?
I was blessed to have the opportunity to work with some of the most brilliant people in the business world, as Mentors, Advisors, and they gave me a lot of guidance in life, too. For the past few years, I have been working with many to scale our own group of companies by scaling our clients (Startups and SMEs) business rapidly. It is fulfilling, fun, and at times difficult, but what isn’t in life?
One of the most common questions that many ask is, “Are you going to retire?” I thought of that and even prepared for that, actually, but COVID-19 hit, and things changed in the way we do business in the most unprecedented ways.
For many, it turned into nightmares of retrenchment, reduced job scope and salaries, from full-time to part-time time and some into temporary contract workers or even total loss of jobs at the peak of their careers.
Some turned to Fractional Officers, and others were planning to start their own business, but were at a total loss for what to do. Some are still very much concerned if they are too ‘old’, irrelevant, slow, or stubborn to change. Perhaps.
Also Read: Why most Founders misuse AI, and what breaks when you scale it
But do you know that if you are in your 50s now, it may just be the perfect time to start a business?
- Experience is your superpower: Decades of work mean you’ve mastered problem-solving, leadership, and industry insights—skills younger founders are still developing.
- Financial stability: With fewer debts (like paid-off mortgages) and savings, you can take calculated risks without the same financial stress as younger entrepreneurs.
- Stronger networks: Your Rolodex of contacts—former colleagues, clients, and mentors—can fast-track partnerships, sales, and advice.
- Clarity of purpose: You know what excites you and what doesn’t, so your business aligns with passion and profitability.
- Time Freedom: With grown kids and career peaks behind you, you can focus energy on building something meaningful.
- Higher success rates: Studies show entrepreneurs over 50 are 2.8x more likely to succeed than those in their 20s.
- Emotional intelligence: Years of navigating workplace dynamics mean you’re adept at managing teams, clients, and setbacks.
- Less pressure to “hustle”: Unlike younger founders chasing VC funding, you can grow organically, prioritising sustainability over hype.
- Leverage the “silver economy”: You intuitively understand the needs of the lucrative 50+ market, which most businesses ignore.
- Legacy building: It’s not just about income—it’s about creating something lasting, whether for family, community, or personal fulfilment.
Bottom Line: Your 50s offer a rare mix of resources, wisdom, and freedom. The only question left: What will you build?
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