Entrepreneurs over 50 can have a hard time overcoming their fear of starting their own business in a society that rewards youth. However, we are gradually understanding the potential of longevity and shedding light on the benefits of a multigenerational workforce.
Age is one of the barriers people face when looking for a job. The vast majority of companies see it as an impediment instead of an asset when thinking about their talent strategy. Age discrimination persists while there is no proof that older workers are necessarily less capable or productive than their younger counterparts. On the contrary, older workers can help reinvigorate the workforce by bringing their expertise, emotional intelligence and wisdom.
Negative attitudes towards aging should not stop us from starting our dreams, our own projects, and living our best lives as we grow older. It should not prevent us from realizing our entrepreneurial aspirations and making a positive impact all around us. Rather, we should make the most of our mental strength and years of experience. Two fundamental factors for a successful entrepreneurial journey.
Inspiring Entrepreneurs over 50
There are many successful older entrepreneurs over 50. Here are only a few examples:
- John Stith Pemberton created the original formula for the famous Coca-Cola at the age of 55.
- Harland Sanders David, at the age of 65 and after a life as a wage earner created Kentucky Fried Chicken. He sold it for two million dollars a few years later.
- Ray Kroc founded McDonalds at 52 years old and is well-known for his strong beliefs: “If I had a brick for every time I’ve repeated the phrase Quality, Service, Cleanliness and Value, I think I’d probably be able to bridge the Atlantic Ocean with them.”
- Arianna Huffington founded the Huffington Post at 54 years old. She made it to the world’s 100 most influential people’s list by Time Magazine.
Their stories show that it is never too late to become an entrepreneur. By cultivating a curious mind you will be able to identify business opportunities that could shape an exciting second act career.
Inspiring older entrepreneurs see their 50s and beyond as a new stage of life in which they have the time, experience, and contacts to stay relevant and contribute by launching their own business. By 2050, three out of every ten U.S. adults will be past the traditional retirement age. As businesses started by entrepreneurs over 50 of age have the best survival rate, we expect more and more of them, which will reshape the usual portrait of the entrepreneur as a young adult.
Older Entrepreneurs with a Lifetime Commitment
There are also inspiring stories of people who started their businesses as a young adult. They continue their projects with energy and passion in their later years. They do not stop or retire after reaching the traditional retirement age. Instead, they made their entrepreneurial path a lifetime commitment.
- Jane Goodall started the study of the wild chimpanzees in Gombe, Tanzania, when she was 23. With her studies, she radically changed the field of ethology (the study of animal behavior). 60 years later, she keeps her eagerness to reconcile human development with the protection of wildlife. She has hope for the new generation and dedicates much of her time to environmental education.
- Yann Arthus-Bertrand is a photographer, journalist, reporter, and environmentalist. He started at 17 as an assistant producer in the cinema industry and then, inspired by Jane Goodall, started photographing animals. He specialized in aerial photography and continues working on his mission to create environmental awareness until this day, at 74 years of age.
- Hélène Darroze is a 53 years old French chef. In 2015 she was recognized the world’s best female chef not only for her impeccable gastronomy but also for the use of authentic seasonal ingredients, which are the protagonists of her contemporary French recipes.
- Alex Atala is a 52 years old Brazilian chef. He revolutionized the gastronomy by reclaiming the use of local ingredients from the Amazon (including insects). Atala is a firm believer and advocate of food sustainability. Cooking with ingredients you believe in, and applying ethics in the kitchen by finding new sources of protein that are environmentally friendly and also reduces costs. He opened his restaurant D.O.M. 20 years ago in Sao Paulo and holds 2 Michelin Stars.
There are many factors that can impact the path of an older entrepreneur. But it is by knowing who you are, who you want to be, trusting your skills, and being able to overcome your fear that you will be able to find your way to a fulfilling second act.
