What is the Right Age to Open a New Business?

Idea Light BulbIf you are a regular reader of my blog you will probably know that I would say any age can be the right age to open a new business. It really doesn’t matter that much. Depending on what you want to do, you can start a business at any age. I think, “Sooner rather than later”, should be the focus and not, “am I old enough?” or “I think I am too old.” It is more important to get started than to worry about perfect timing. While there may be disadvantages to any age group in which you find yourself, there are also great advantages. Here are some reasons why:

  • Young People Opened New Businesses in the Past and Still do Today. – There are thousands of examples of business started by people in their teen years and even younger. Richard Branson, a billionaire from England, started his first business in the 60’s at the age of 16. He wasn’t good in school, but he had an idea to publish a magazine called the Student. This was just the beginning of a successful career that helped him to become the 4th Richest Citizen of the United Kingdom in 2011. Branson had an idea and he put it to work at an early age. He didn’t let his lack of schooling get in the way, or his age.

Or how about Greyson MacLean who came up with the idea of static cling stickers for putting on Lego blocks. In 2009 he was 9 years old and came up with the idea for Brickstix and today has sold over 30,000 units with the help of his family. It is just another great example that you can read more about here to get inspired. The point is young people still open new businesses even today.

Young people have big ideas. Life hasn’t had enough time to discourage them, and they still love to dream. They haven’t had as many negative people influence their decisions or try to get them to do something “more practical, predictable or safe.” Young people also have lots of energy and can pour effort and passion into their work. This is a great advantage for those young people who dare to dream that they can open their own business.

Do you have an idea? Take a moment and open this FREE Simple Business Plan. It’s a PDF document that you can print and use to get started on your own idea.

  • You can open a new business even if you are older in years.  – Colonel Sanders, the founder of Kentucky Fried Chicken was in his mid-sixties before he started the famous KFC restaurant chain.  After dealing with failure and loss, he still moved forward with an idea that became wildly successful. The great thing about it is that he did this when many of his peers would have been winding things down and drifting into retirement.

My uncle Wally is in his sixties and he is starting a new venture. He is setting up machinery that will make fuel pellets from corn, hay, straw or even wood brush.  What a great idea! It is a niche market that has interested consumers looking for cheaper, renewable forms of energy. He already has committed buyers and just needs to work the kinks out of his production process.  While it sounds easy, it’s a lot of hard work. However, he is not a stranger to difficult times and I am convinced that he will be successful.

I have a friend named Terry, who just officially retired from the business that he started decades ago. He started and grew a successful auto repair shop that is run, today, by his son Bret. Now Terry has a new project. He recently invested in a large piece of equipment that can custom cut any design you want out of steel, plastic or wood. This will be his new business venture and he already has business booked.

Again, you are only limited by your own imagination and your willingness to attempt something new. If you are considering opening a new business in the second half of your life, remember that you have many advantages on your side. You likely have more resources and infrastructure to start something new. You have a lifetime of experience that will help you from making many beginner mistakes.  Don’t let something like your age stand in the way of you doing something that you have always wanted to do.

  • You already have most of what you need to open a new business. – I have often heard people say that they need to get a degree before they start a business, or that they need to finish school, or that they are missing some key ingredient.  Many times these people spend most of their life getting ready to do something, but never actually start.  Young people say they are too young and need more experience. Old people say they are too old and can’t learn new technology. Many say that if they were to start a business that it would cost too much money. Whatever you say is standing in your way is likely much smaller an obstacle than you think, or maybe there is another way that, so far, has escaped you. I encourage you to read the stories of successful entrepreneurs from the past or even today. The ones I list in this blog post are great examples of overcoming obstacles or not letting age get in the way of doing something new. You can search this site and more for inspirational stories of people who have found success while overcoming obstacles. If you are lacking funds and this is your obstacle, you could check out this FREE book called The Bootstrapper’s Bible” by Seth Godin.  Don’t let age or anything else stand in the way of you opening your new business.

So what is your idea? What is keeping you from giving it a go? If you need help with something, go get that help! If you need some motivation, or you are struggling through an idea, shoot me an email, and maybe we can make something happen together.  Download the FREE One Page Business Plan and start giving shape to your business.

I would love to help you work through your idea. Here is where you can reach me: rocky@workyoucanlove.com.  Or sign up for regular email blog post updates below.

About The Author

Duane Rockensock

Duane (Rocky) Rockensock is a husband, a dad, and the National Reconditioning Manager for AmeriGas Propane. Since he was a teenager, Duane has loved hearing the stories of how people have started creative businesses or found ways to use their talents to accomplish amazing things. For that reason he started this blog to encourage teens and adults to find their purpose and to provide the tools and resources to make that happen!