3 Benefits to Starting a Business After 50 that Have Nothing to do with Money... February 18, 2015 | Margaret Manning
6 – Elizabeth Isele on Making Senior Entrepreneurship Work... September 25, 2014 | Margaret Manning
5 – Virginia Bell on Reaching for the Stars in Life and in Business... September 18, 2014 | Margaret Manning
One of my favorite things about running Profit After 50 is that I get to find out about all of the amazing projects that you are working on. At the same time, I can’t help but wonder, with so many successful older entrepreneurs out there, why aren’t more people over 50 starting their own business? What’s holding our generation back?
If you’re preparing for your “third act,” Moira McGarvey has your back. Her business, GangsAway, is a community for people who are planning the next stage of their lives. In addition to being a fascinating business concept, GangsAway is a great example of how opportunities appear when we break down stereotypes and shatter myths.
I’ve written before about the many advantages that older entrepreneurs have when it comes to starting a business. Specifically, I argued that our empathy, connections, experience and resources make us a force to be reckoned with. At the same time, there are more tactical reasons that entrepreneurs over the age of 50 hold all the cards. As just one small example – we know how to write!
Lisa Copeland hates the fact that women after 50 suffer with dating and she’s on a mission to do something about it. As with many older entrepreneurs, Lisa’s idea for her business, Find A Quality Man, came from her own experience. After a devastating 2010, Lisa found herself questioning many aspects of her life. Her own personal journey to reinvention led her to an internet marketing coach, who gave her the confidence to get started on her own.
When it comes to starting a business, is it better to focus on quantity or quality? Should you try a lot of things and be ready to “pivot”? Or, should you focus on building a single “perfect” product that you can be truly proud of? This is not a trivial question. In fact, based on the conversations that I have had with other entrepreneurs over 50, this one choice can make the difference between start-up success and business failure. To explain why, I’ll need to take you back to school – to art school to be exact.
Martin Pazzani is surfing a tidal wave. He sees a surge of Americans reaching retirement age and he wants to help them keep their bodies and brains in great shape. His business, Activate Brain and Body is a powerful example of how to create a mission based business that has the potential to make money, while doing good in the world.
In late 2013, my business was in trouble. Sixty and Me, which started as a Facebook community was experiencing a drop in organic traffic. For the better part of a year, we had been able to count on cheap, high-quality traffic to keep our website visitors growing. Suddenly, as Facebook shifted its own strategy from growth to monetization, our momentum had stalled. Like many entrepreneurs, I learned the hard way that, if you don’t own your list, you don’t have control over your company’s future.
John Tarnoff is a passionate guy. As a media and entertainment executive, he cared deeply about helping companies to generate cultural change. Now, as a career development consultant, he is passionate about helping older entrepreneurs to make their dreams a reality. He also has an infectious personality. During our interview, I found myself getting swept up in his vision for the Boomer generation. He genuinely sees us as force to be reckoned with. I couldn’t agree more.