In recent years, the media’s focus has been on young people making a change in the world. Whether it’s Greta Thunberg leading the charge on climate change or some of the baby-faced tech entrepreneurs, it seems like the focus of industry and culture is on the young. However, looking at the numbers shows something a bit different. Some of the most successful new businesses are started by people in their fifties or older. Women in their 50s are a big part of that trend.
One reason for this is that older entrepreneurs tend to have plenty of workplace experience to fall back on. Someone starting a business at 50 or 55 already has excellent contacts in the business community. It’s also likely that they’ve weathered more than one storm with an employer. Older entrepreneurs have a wealth of advice and life experience that can benefit other people in the marketplace. Many older entrepreneurs quickly parlay these skills into a business as a consultant. Consultants provide valuable advice to clients in the business community. Consultants may assist with marketing, hiring, or any of several other functions in the business world.
Bookkeeping is another excellent choice for older workers who are looking for a sideline. Most bookkeeping businesses work remotely. Bookkeepers may have a conference call or two but mostly work at their own pace. Bookkeepers can also specialize. Some help people figure out the proper way to pay tax when hiring help like nannies. Others may specialize in assisting doctors in private practice. People in many lines of business are intimidated by numbers. Bookkeepers don’t have to be CPAs. All they need is a facility with numbers, confidence, and a willingness to understand rules and regulations.
Another great avenue for mature entrepreneurs to pursue is the growing senior market. As people age, they often require services like transportation to doctor’s appointments. Many times, seniors are more comfortable dealing with a mature person close to them in age. It can be jarring from them to deal with people who are 40 or 50 years younger. Other services can include helping seniors track their bills or sort out insurance coverage. This sector of the economy is growing rapidly as the Baby Boomer generation ages.