3 Simple Reasons Why It’s Never Too Late to Become an Entrepreneur

The general misconception among masses regarding entrepreneurship is that only young people can be entrepreneurs, while the ones that have crossed youth are merely survivors and the only thing they can do is finish their current job and get the retirement money. This conception is wrong. One is never too late to be an entrepreneur; rather turning towards entrepreneurship at a later age can come with certain advantages.

 

All entrepreneurship deals with is a unique idea that brings innovation and meets a demand in the market. Therefore, there is nothing in the definition of entrepreneurship that says that after a particular age one cannot be an entrepreneur. You are never too late to become an entrepreneur, rather being a little late comes in handy. In the lines below I shall discuss why there is nothing wrong with pursuing entrepreneurship a bit later in life.

 

3 Simple Reasons Why It's Never Too Late to Become an EntrepreneurExperience:

 

The first and foremost important thing that helps people that aspire to become entrepreneurs later in life is there experience. Compared to young entrepreneurs, these people have more professional experience and have greater insight of the delicacies of the market and the audience. Therefore, when such people pursue entrepreneurship, the job is quite easy compared to the young ones who have to learn everything.

 

The experienced professionals turning to entrepreneur means that they have more knowledge about managing staff, they know more about book keeping, they know how a product can be marketed effectively and they know how the capitalists can be convinced to invest in their project. Therefore, the later arrival of professionals in the field of entrepreneurship serves as a blessing in disguise and increases the chances of success of the business as a result of the experience these so called ‘non-entrepreneur-age’ people carry.

 

Network:

 

The other important thing that makes entrepreneurship a good choice for professionals is their network. Due to spending a substantial time as a professional in the industry, the late pursuers of entrepreneurship have an established network where they have contacts with all kinds of people. For an entrepreneur right contacts are as important as the business itself. In fact, the launch of the entrepreneurial venture is primarily dependent upon the contacts as these contacts are what serve as investors in some cases while in other cases they are the clients. Therefore, the second edge that the professionals turning into entrepreneurs have over young entrepreneurs is the network. Young entrepreneurs have to struggle to find people and then convince them, whereas the professionals know where the people are all they have to do is to go and present them their idea and have their venture funded and supported.

 

3 Simple Reasons Why It's Never Too Late to Become an Entrepreneur2Investments:

 

The biggest problem with young entrepreneurs is that they don’t have enough money to bring their idea into a form that can be presented in front of the investors, thus, most of the young entrepreneurs struggle with this initial investment and are able to arrange it with too much struggle. On the other hand, the late pursuers of entrepreneurship have a job and during that job they are able to save money for their venture to start. Therefore, the professionals have enough money to start their business and make it presentable in order to get more investment from others. Thus, this availability of investment is another feature that makes entrepreneurship feasible for late pursuers of this domain compared to young people who have no such investment to begin with.

 

Now it’s Your Turn!

 

At what age did you decide to become an entrepreneur? What kind of difficulties did you face? How do you think your experience helped in your entrepreneurial venture? What advice would you give to those who think they are past the age of being an entrepreneur? Share your insightful experiences with us!

 

To your Success,


Nate Leung


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Nate Leung

Nate Leung

CEO & Founder @ NateLeung.com at NateLeung.com
Nate Leung is the CEO and Founder of NateLeung.com, and author of "Virtual Entrepreneur: Live Free With the Business of Your Dreams". He has been an Internet Network Marketing professional since 2001. Nate specializes in blogging, generating highly targeted leads, prospecting, social media and driving traffic. You can find out more from Nate by connecting with him over at Google +. There is no greater passion he has than helping people to succeed in their business. He teaches people how to use the Internet to build a successful Network Marketing business. If you're struggling and or looking for help, contact Nate here.
Nate Leung
Nate Leung

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25 Responses to “3 Simple Reasons Why It’s Never Too Late to Become an Entrepreneur”

  1. Mary Stephenson

    Hi Nate

    I think there is more trust by others in someone that is older. People would see them as having more knowledge less “head in the clouds” kind of person. Although younger people appear to have more energy, they lack the skills of so many things, because they have not experienced them yet. Usually older people have gone through a few bad bosses and have learned how to treat people to get the most productivity out of them. They know what a bully boss is and they hopefully remember how it felt like starting from the bottom and because of that become a super boss. Great post on the subject.

    Mary

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  2. Haroon

    Thankx for sharing such nice article. No doubt experience matter but if you are young and have great skills to handle the problem and believe yourself then you can get success.

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  3. Arleen

    Nate- I decided to start my business when I was 50 years old. I had been selling real estate for 25 years so I knew the principles of sales is service, service, and more service. I hadn’t used a computer and my son asked me if I wanted his old computer. I told him I would probably blow it up. Sure enough I was on the phone with my sister when my computer starting smoking. I had fried the hard drive. I did not understand the principles of windows and a friend of my husband spend from 9:00 PM to 3 AM showing me how to close my 45 windows that I had opened. From then on out I taught myself. I started my online business in the early nineties. I was told I was nuts that no one sells promotional products on the internet and that it was in a man’s business. Fast forward to 2014. I am 67 years and I am still going strong. Interesting if you look around it seems like now that there are thousands of websites that sell promotional products.

    This experience made me realize you are never too old to start a business. The age helped because I understand people. Just take an idea and run with it.

    I was always told to start a business it should be something you are familiar with. I had no idea about promotional products, but the real estate experience and selling is really all I needed. I love what I do.
    You are NEVER too old to do anything if you really want to. Waking up in the morning is an opportunity.

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  4. Vicky

    Great post as usual, The first reason why it’s not late to become an entrepreneur is their is such firm to place who check what we gonna go.

    Thanks

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  5. Amira Muhammad

    Great information!!

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  6. frank joseph

    Becoming an Entrepreneur is something everyone should activate in their memory 😀
    I was able to start from a young age building business and not depending on govt. works, this same thing enable me to start my online businesses.
    It is true that young entrepreneur suffer from lack of funds

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  7. Aditya Singh

    Till now i haven’t decided anything but after reading your article i think i have to think about it.

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  8. Grace Caruso-Rozankovic

    Great post Nate.. I only became an entrepreneur in my 30’s personally i don’t think i had the right state of mind to start in my earlier years as i was much more interested in partying back then.. lol

    The online world is for all ages as we all have different target markets and different age groups that we want to work with. And that’s the beauty of this kind of work as ideally you attract like minded people into your business… 🙂

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  9. Meghan Hof

    You always have a fresh way of looking at things. Thanks for sharing!

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  10. elena stasik

    Love it! 🙂

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  11. Mark

    I think experience is a big one!

    I didn’t notice this until I started to work with people younger than myself (18-22 year olds) and what a difference there was. All my experiences, especially my failures, have given me so much experience. It makes me grateful for him. At the same time, I’m starting to understand to be patience with the younger generation who, like most people, have to experience thing first hand before they learn them. They should just listen to their elders instead. 😉

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  12. Fabi

    It’s never too late to go after your dreams 🙂

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  13. Diyana Alcheva

    That’s a very encouraging article for the more mature crowd looking into starting their own business, Nate! As a business marketing strategies and consultant a lot of my clients are baby boomers and even if they are not clear on exactly what kind of business they want to build online, it’s so much easier to go through the process of figuring it out, because we have so much we can draw from their decades of experience in the marketplace.

    Btw, I feel like I’ve always been an entrepreneur. I remember selling clothing in school to my classmates, from my mom’s home little boutique when I was 12 and keeping the profit, buying books in bulk and selling them at normal price to my classmates, selling jewelry etc… I remember joining my first direct sales company when I was 15… My mom had to sign up for me since I wasn’t 16 yet, which was the required age.

    And I feel that you just have to believe in yourself, go for it… learn from others who have already been there and realize that in everything there are risks… and ultimately life and business is a learning experience. So don’t be too hard on yourself when something doesn’t work. You’ll go through failures, but that’s just part of the game.

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  14. Jennifer Clay

    My husband and I was just talking about this. He wants to open his own business and is now working at a place where he can learn the skills of becoming a mechanic. He wants to open his own shop up one day. I will show him these tips.

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  15. Carissa Pelletier

    I just keep trying! That’s all you can do until you get it right. I envy the “young entrepreneurs” a decade or two younger than me, but I still would not have it any other way!

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  16. Laurel Regan

    Very good points! Really appreciate this post – thanks for sharing.

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  17. Carmen

    Nate, I don’t believe we are ever too old. I decided to become an entrepreneur after being bed ridden for over a year — I think the right time to do anything is when you are ready, when ever that is. Great post. Thank you.

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  18. Phillip Dews

    Hi Buddy,

    Great post there! I am now 38 and been blogging this time round for a little over 4 months buddy. So I been building my career for 4 months!

    This has just started to pay off as I am now in business with Ryan after helping him on The Blogging Manifesto project.

    I would add though that Life Experience, or learning from mistakes is another feature that the ‘Older’ Entrepreneur has in his or her bag of tricks that makes people of a certain age benefit from starting in business.

    Reputation as well is something else as the older we get the more of a reputation we gain as we meet lots of people during life both online and offline. Generally I think that a younger Entrepreneur has more to prove than someone with a little more life experience!

    Like you say people are never too old or for that matter never too young to get into business or blogging!
    Epic post dude I loved reading it as it makes a lot of sense!
    – Phillip

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  19. Asaolu olubayode

    i always believed that it is never too late for anything. All what we need to have is the drive and determination. Thanks for yet another great post Nate!

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  20. Nomusa

    Hi Nate. very interesting post yet again.

    I have always had an entrepreneurial spirit making and selling children’s clothing, baking and selling cakes and scones while I worked full time as water scientist. I thought of taking entrepreneurship full time 20 years down my career path at the age of 44. The greatest challenge for me was getting my head to catch up with my heart. Entrepreneurship is a heart thing (more emotions get you into the spirit than logic). So the logical side of me was stuck in the conventional model of being an employee while the rest of me wanted to be free. I am way ahead of where I was five years ago when I made the decision but I still have a long way to go to be really good. So the network, the money to invest and the skills to do business will be there as a senior but until the mind decides that this is what it wants, all the resources in the world will make no difference.

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  21. Sherman Smith

    Hey Nate,

    I started thinking about becoming an entrepreneur in college but really didn’t pursue anything until I graduated some years later. All I can say is, that everything you said about young entrepreneurs is absolutely correct LOL… and actually I still feel like I have a lot to learn, but I do know that I came a long way!

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  22. Ryan Biddulph

    Nate,

    I became an entrepreneur at 35. Best decision of my life.

    No age is too late if you have a hunger to make things happen. The hunger is the key point; with it, you will succeed wildly whether 18 or 85 😉

    Thanks Nate!

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  23. Lawrence Bergfeld

    I do not think that a person is too old or too young to become an enterpreneur. Because the main thing is that we have to make it about the client NOT us. People do not care how much life experience we have or anything else unless they see how much we care.

    I may have mentioned it several times in blog comments and in posts. A person must master the Secret Language Of Prospects by learning how to determine what a person likes and more importantly what a person can’t stand. That way it will make it easier for him/her to get along with others.

    Lawrence Bergfeld

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  24. Yippeedaniel

    Thanks for sharing,well am not one though i think i will be at 25.

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  25. Tony Koker

    I did the college thing and got a job, but it wasn’t 6 months in before I founded a corporation with 3 other engineers. How I’ve become successful has remained mostly conventional in practice, so far. But I’ve continually pursued my passion and the quest for the right business model. I am inspired by others that have built a SaaS (Software as a Service) web site (letsfreckle.com). They accomplished this by working it just 8 hours a week, while keeping their full time consulting jobs. They just passed their $1 million mark.
    The other challenge accomplishing that, when we’re younger, is we fail to build the passion to overcome the distraction temptation of instant gratification – mostly entertainment. Young or old, the slight edge build success.
    Thanks for the post. Thought provoking.

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