Negosentro.com | Why You Should Never Think it is Too Late to Start a Business | You don’t need to be a certain age to be able to start a successful business. You can begin at any age because age is just a number.
If you’re a little on the older side, that means that you have seen the world longer. You’ve been a part of the workforce and have a skillset that any new entrepreneur will have to develop in due time.
Times have changed. Because of the internet, starting a business has never been easier. If you want to start an online storefront, Shopify makes it a piece of cake. If you wish to market your products and services to people online, Google can take care of that for you.
Here are five reasons why you shouldn’t think that it’s too late to start a business:
1.A tried and trusted network.
Having a network of individuals that you can count on takes time to develop. Most young entrepreneurs don’t have that kind of support system. These entrepreneurs haven’t been around in the industry enough to have meaningful connections.
Being around in an industry for a long enough time allows you to build connections. You don’t need to have hundreds or thousands of people in your network to start a business.
If your network is going to help your business grow, you need people who will support you and your business ventures. Not everyone in your industry needs to belong to one particular sector. Having a diversified network will also help you get more ideas and inspiration.
The people in your network have been with you for a long time. You’ve supported them in their time of need because that’s what friends do.
Most people don’t realize this, but having a strong, robust network can help you accelerate your growth. Sure, you can grow to the same level on your own, but why go through the extra effort?
You need to be smart about who you allow becoming a part of your network. Enlisting someone who won’t provide you with any current or future value is not the best thing to do.
Instead, you should aim to connect with other like-minded individuals such as yourself who are eager to grow and take their business to the next level.
2.Experiences that money can’t buy.
If you’re on the mature side of the age spectrum, you’ll have more experience with different things.
These experiences can’t be bought or traded. These experiences belong to you and are yours alone.
Knowing how to talk to people, making genuine connections, correct body language, understanding what people mean, these are a few things that take time to learn. No schools or universities can teach you these soft skills. People need to learn these things on their own.
Being young makes you less precise. Most young entrepreneurs don’t work on their business plans. They go to investors with almost nothing in terms of a business plan and expect to get funded immediately.
Having practical experiences of the real world puts you in a position to make better decisions. Even if you’ve never worked at a large corporation, you’ll still know more on how to make a business plan than an average 20-year-old.
Before starting Amazon, Jeff Bezos had worked at several critical roles in financial firms on Wall Street. Working in these different positions gave Jeff Bezos the experience he needed to start his own business. You’ve been in various places before, use that knowledge.
Being older can be an advantage when you really think about it. You aren’t as naive as you once were when you were younger.
As an older, more experienced adult, you know how to deal with other people in a way that gets the job done. You don’t have to spend your time trying to learn how things work in the world of adults.
3.You know what you want.
When you’re young, you have no idea what you’re doing. You take chances and hope for the best.
As you grow older, you get to know about the things you like. Your tastes in food, environment, people, and work become much more defined.
You, as an adult, have had plenty of time to think about the kind of business you’d be passionate about if you’re not excited about what you’re doing, your chances of failing increase dramatically.
Starting your venture will be scary; it won’t matter how old you are. If you never start a business because you were scared is the wrong choice. You’ll regret it later on. Take a chance. You’re at a much better place than you were as a twenty-year-old kid.
When you’re older, you can be more focused on what you want to do. You know what you want to do, what kind of business you have, and there is nothing stopping you.
All you need to do is to focus on how you’re going to start and run your dream business. You might have more focused and a proper goal as compared to someone younger, but you still have to figure out how you’re going to deal with the business part of things.
4.Your finances are in order.
Most young entrepreneurs are broke. More than 80% of entrepreneurs fund their startups through their own pockets.
As you grow older, your finances (hopefully) get more stable. You have savings and investments that you can leverage and start a business.
When you’re older, you have a more extended credit history. Having a longer credit history is a factor most investors consider when deciding whether to fund your business or not.
When you’re older, you have a better grasp of money (hopefully). You no longer spend money on things that don’t matter to you or bring you joy. You’re a lot more conscious about your decisions regarding money.
Being older can help with your finances in ways that you didn’t expect. Remember when you were younger and went to the bank for the first time?
As an adult, you don’t have to worry about being anxious in a financial institution. You have been in and out of these institutions a number of times already. Even if you aren’t a master at all things related to finance, you can still spin circles around the average youngster.
5.Technology is no longer a barrier to entry.
The recent focus on making technology accessible to everyone by key players has made using technology simpler.
Getting used to technology is hard. As you get older, you’re not able to keep up with the latest advances in technology. A lack of awareness is not a disadvantage anymore.
Because of the internet, you can learn about anything you want. Market leaders are depending on tech to make gains.
Before the internet, everything had to be done manually. There was no software available that the general public could use for their businesses. The world has changed quite a bit. More precise and cost-effective methods have replaced traditional marketing. Social media marketing on platforms such as Facebook allows you to target a very particular individual, increasing your chances of making a conversion.
Having a free live chat app for websites is another piece of tech that you should be looking into. A single live chat option on your website will boost your customer satisfaction levels and well as your customer retention.
If you can’t find someone locally that could make your website, for example, you need not worry. Freelancing websites like Fiverr and Upwork allow you to get high-quality workers at very affordable rates.
You should instead think of technology as a way to give your business a boost. New technologies such as artificial intelligence and machine learning are rapidly transforming the business landscape.
The work that used to be done by several employees can be done by inexpensive robots under the supervision of a single staff member. You don’t even have to worry about hiring a bunch of staff any more thanks to technology. Technology and innovation have helped countless businesses by reducing their costs and allowing them to present their unique selling proposition to the world.
The best time to start a business is right at this moment. Everything is in your favor. Use the technology at your disposal and start building your empire.
Being mature doesn’t necessarily mean that you’re at a disadvantage. Often at times, it could mean that you already have the necessary experience to start a new venture.
You’re now more confident in your abilities as a leader. You’ve previously worked in different environments that have prepared you to start a business.
You have a unique skill set that has taken years to create. Only you have this skillset. Use it for your own business.
Even if you’ve never started before, the odds are in your favor. Research conducted by the US Census Bureau and MIT has indicated that for the top 0.1% of the fastest-growing businesses, the average age for the founder of these businesses was 45 years.
Charge and keep moving forward!
Hamzah Adil is a digital marketer who enjoys writing about entrepreneurship and business. He is currently working for a startup that has developed a free live chat app called SwiftChat. Live chat softwares have become an essential add on to any website because of the ease of us they provide to online audiences. | Website: https://www.swiftchat.io