Starting a business later in life can be a rewarding and fulfilling experience, offering a range of benefits that may not be available to younger entrepreneurs. Maybe i'm a little biased since I'm closer to sixty than I'd care to admit. Here are a few thoughts to inspire you!
Experience is still the best teacher!
One of the biggest benefits of starting a business later in life is the wealth of experience and knowledge that you bring to the table. After years of working in various industries and professions, you likely have a diverse set of skills and expertise that you can use to your advantage as an entrepreneur. This experience can be valuable in identifying new business opportunities, solving problems, and building a successful company.
Another benefit of starting a business later in life is the opportunity to pursue your passions and interests. Many older entrepreneurs are motivated by a desire to do something meaningful or to make a positive impact, and starting a business can provide the perfect platform for doing so. You may also have more freedom and flexibility to take risks and try new things, as you may have already established a certain level of financial stability.
Starting a business later in life can also provide a sense of purpose and fulfilment that may be lacking in other career paths. As an older entrepreneur, you have the opportunity to create something of your own, and to be in control of your own destiny. This can be especially rewarding after years of working for others.
Of course, starting a business at any age comes with its own set of challenges and risks. But with the right mindset and approach, the benefits of starting a business later in life can far outweigh the challenges. If you're considering starting a business, don't let your age hold you back – the opportunity to build something meaningful and rewarding is available to you at any stage of life.
Some famous and very successful business founders:
Ray Kroc: Ray Kroc started working with McDonald's at the age of 52 and went on to build it into one of the most successful fast food chains in the world. 
Harland Sanders: Better known as Colonel Sanders, he started franchising his famous Kentucky Fried Chicken recipe at the age of 62.
Sam Walton: Sam Walton founded Walmart at the age of 44, and it went on to become one of the largest and most successful retailers in the world.
Henry Ford: Henry Ford started the Ford Motor Company at the age of 40, revolutionizing the automobile industry and shaping modern transportation.
Howard Schultz: Howard Schultz joined Starbucks as the director of marketing at the age of 34, and later returned as CEO at the age of 46, leading the company to become one of the most successful coffee chains in the world.
1. You Have More Experience
Starting a business later in life means you’ve had more time to gain experience and hone your skills. Having a wealth of experience to draw upon can be invaluable for crafting successful business strategies and making informed decisions. Personally, I have had several careers over my lifetime so far. Certainly a lot has changed in the past 30 years and the pace of change is accelerating - but wise businessmen everywhere recognize the value of experience and avoiding repeating mistakes of the past.
2. You Have More Resources
With more years in the workforce, you’ll likely have more resources available to help fund your business. This could include financial resources such as savings, investments, retirement funds, or outside financing options like SBA loans or venture capital. Access to friends and family investors or using your network to get your first few paying customers fast.
There is an old saying, "your network is your net-worth".
3. You Have Established Connections
Establishing relationships and networking with other professionals is essential for any successful entrepreneur, and starting a business later in life gives you the advantage of having already built up a strong network of contacts and colleagues over the years.
While we are on this point, it has to be said that most businesses are ultimately people businesses. Having real world, conversations with real people is still a valuable skill. One that you have had plenty of experience with.
4. You Have Less Pressure to Succeed
As an older entrepreneur, you may not feel the same pressure as younger entrepreneurs to succeed quickly or make it big fast. Instead, you may be more focused on taking calculated risks and pursuing your dreams at a sustainable pace.
5. You Can Tap Into Your Passions
Starting a business later in life gives you the opportunity to finally pursue the things that bring you joy, rather than focusing solely on what will bring in money or provide career advancement opportunities. This can lead to increased work satisfaction and greater success in the long run!
It can be a challenge but often the action you need to take starts with how you think about yourself and the opportunities before us.