Creating a business or launching a new project spent a certain age may seem risky, even out of reach. However, there is no shortage of examples of success. The emblematic case of the founder of KFC, Harland David Sanders, who built his empire after the sixties, testifies to the existence of tremendous opportunities for senior entrepreneurs. For business leaders or project leaders, age should not be an obstacle, but rather an asset based on experience and resilience acquired over the decades.
Redefine the concept of “good time”
The usual codes of the business world suggest that it is better to start between 20 and 40 years old because there is overflowing energy and curiosity ready to embrace new challenges. However, reality is more nuanced. Certain studies, such as those carried out by Ewing Marion Kauffman Foundation, show that the average age of the founders of successful start-ups is more around forty. Seniors over 60 are also there, with corporate survival rates sometimes higher than average.
Ultimately, the “good time” to undertake depends mainly on the personal availability, motivation and solidity of the project. By taking into account the pace of life and family or professional obligations, it becomes possible to organize itself in order to devote itself fully to its activity. For an entrepreneur of 60 and over, retirement or semi-retirement can thus represent a favorable period to channel his energy towards a new challenge, without external pressure linked to a traditional career.
Experience as a major asset
During a long career, there is invaluable capital: know-how, sectoral skills and, above all, emotional intelligence. Senior entrepreneurs can thus rely on a network of proven contacts, developed throughout their professional career. This relational force facilitates access to reliable partners, potential investors or even loyal customers, which is a major competitive advantage.
On the other hand, experience gives a good dose of realism. With age, we know better to assess the feasibility of a project, anticipate the difficulties and ask the right questions at the right time. This pragmatism limits the risk of embarking on a too hazardous path. Senior leaders also tend to favor sustainable growth models, looking less for the long -term stability. At 60, we no longer necessarily seek to prove its value at all costs, but rather to make a vision that has matured over time.
Financial and administrative challenges
Despite these advantages, entrepreneurship at an advanced age supposes to meet certain specific challenges. On the financial level, it is often necessary to secure your retirement income or heritage before embarking on a new project. Banks can be more demanding about the validation of the business plan, due to the perception of a reduced time horizon to make the investment profitable. Seniors are then invited to provide solid guarantees or explore dedicated financing systems, such as crowdfunding or specialized business angels.
On the administrative component, complexity is hardly different from that encountered by younger creators, but the time of the senior entrepreneur is sometimes counted. The steps to obtain a license, a label or the approval of certain authorities require good organization. Fortunately, support structures such as chambers of commerce or business nurseries remain accessible to everyone, regardless of age. They constitute a precious support to better manage the procedures and limit the fatigue generated by sometimes long procedures.
Find the right life balance
At 60, the motivations that push to undertake are not necessarily the same as those of a 25-year-old start-up creator. Some wish to make a dream dream come true, others aspire to continue to feel useful after a busy career. The quest for recognition remains an engine, as well as the desire to transmit know-how to the new generation.
To succeed in this balance, it is necessary to take into account his state of health and his personal priorities. Senior entrepreneurship should not be done at the expense of rest moments or family projects. Planning relaxation beaches, surrounding themselves with partners or trusted employees and delegating certain responsibilities make it possible to preserve a good quality of life. Above all, it is a question of finding a pace in adequacy with its desires and its constraints, without being overwhelmed by a timetable too busy.
The future prospects for senior entrepreneurship
Considering demographic aging, the initiatives carried out by people over 60 are led to multiply in the years to come. We are also witnessing the creation of specific programs to encourage the entrepreneurship of seniors, whether training, tax discounts or dedicated competitions. This institutional support reflects the growing awareness of the interest of enhancing the expertise and dynamism of this group of the population.
At the same time, the digitalization of the markets and the working methods in distancing open up new opportunities. Creating an online store or offering consulting services becomes simpler, and no longer requires as many material investments. Consequently, septuagenarian entrepreneurs can embark on high potential projects while limiting physical constraints. These transformations, allied with the richness of their journey, suggest a larger field of action than ever for seniors in search of new challenges.
