The average entrepreneur is 40 years old when they start their business. People over 55 are twice as likely as people under 35 to begin a high-growth business.

Older entrepreneurs usually have more business experience and are more willing to take risks. Many people choose entrepreneurship after honing our skills in a particular profession first, and based on their expertise.

The majority of entrepreneurs we see now have already worked all their lives or been part of a hugely successful company. They’ve retired, tried the travelling and leisure for a few years only to find out it wasn’t for them. They needed to be doing something. They’re bored and miss being involved in a business.

To most “gray” entrepreneurs, age is not a factor or a detriment to their working. They are active, both physically and mentally, tend to look younger than their years and have no problem taking on new challenges. Actually, they welcome it and will be the first to tell you that challenges are part of a well led life. They know that they might not necessarily succeed and don’t expect everything to go right because after a certain age, you learn that mistakes are made and failures happen.

With the present economy, we look more to small business and entrepreneurs to help with available jobs and though we tend to think they are younger and focus on programmes for younger entrepreneurs, the majority are actually older and more experienced workers. They are more efficient for they have learned how they do their best work and the risks they take also differ from those who are younger.

Many older entrepreneurs are turning a hobby into a business. If they have a retirement fund, they’ll apply what they have saved into their start up and use the business to carry them through their retirement. Sound risky? Maybe, but to them it’s worth it to be doing something they love, rather than passing the time in boredom and feeling useless.

Entrepreneurial ability does not change as you get older. If you are the type to start a business and have the business knowledge and ability at 30, you will still have those abilities at 60, only you’ll have more experience to go along with it. You’ll have an increased understanding of people, demographics, products and services and most of all, what you want to do with your business.

© Chris Draper, DemGen Inc. 2015

  Late at night, a single light glows from a window down the street. With the rest of the neighbourhood in darkness, it shines like a beacon to those passing by.

On the other side of the tightly drawn curtains, a weary business owner once again goes over their plans for the next month, wondering if they are making the right choices. They’d like to talk to someone about their business, but at this hour, others are sleeping in preparation for the next day at their jobs and even if they weren’t, they most likely wouldn’t understand the worries of an entrepreneur anyway.

The life of an entrepreneur can be very lonely. Their hours tend to be different than those of their friends and family. Most of the time they work alone and their chances for human contact during those hours can be minimal. Though others believe we are so driven and busy that we don’t have time for them or even think of them, the exact opposite is true.

Most entrepreneurs have learned that there is a huge difference between being alone and being lonely. They find that they do their best and most creative work when they’re by themselves, without interruptions. They’ve learned that being disconnected from others can sometimes be a blessing in disguise and have learned to appreciate the choices that working alone and on their own, can provide.

For those that absolutely can’t put up with being alone, there are other choices. If you can, work outside of your home part of the time, at a coffee shop or other area that provides an internet connection. Your balcony or patio are both good areas to work during the summer. Stay in touch with others through chat or social media. Get outside for a walk every few hours, weather permitting. Even having background music playing or talk radio can be a help.

Don’t let the fact that you are working alone build into anxiety or too much stress. Learn to take advantage of all that working on your own can give you – unlimited choices, growth at your own rate, originality. Lack of distraction is not just a want for entrepreneurs, it’s a need. Sometimes we do our best work late at night, when we are comfortable in our own homes and the rest of the city is asleep.

© Chris Draper, DemGen Inc. 2015

image courtesy of personalopz

  All business owners start their business with a mixture of excitement and fear.

Their largest fear? Just like an addict who is trying to get clean, it is of failure. Whether they will admit it or not, the thought of losing their business, especially due to their own mismanagement, is enough to paralyze them.

Confronting your fears by meeting them head on is the only way you can get past that initial starting point and build a successful business and the most important way to do this is through planning. Acknowledge your fears, rather than pretending they aren’t there.

Running a business is serious. It’s difficult and it’s a lot of work. Thinking otherwise is a recipe for disaster. Just like a job or profession, don’t allow your business to be your whole identity. While it’s ok to identify with what you do, what you do is not who you are. It’s a part of what makes up a whole and the sooner you learn this, the sooner you will be able to focus on the parts of your business that scare you the most.

Has competition always frightened you? Though most of us know people who thrive on it, the majority of us steer away from competition as much as possible. Yes, you are competing with other businesses for customers but more importantly, you are doing the best you can to make your business the best it can be. Concentrate on competing with yourself.

Don’t let your business take over your live. All of us need an outlet and you need to find one that helps you clear your head and separate you from your work. While this is especially difficult for those of us who work from a home office, it is even more important that we find a way to look after ourselves first and then take care of our business.

Having emergency plans in place if the worst should happen will help you overcome your greatest fear and means that you will worry less as your business grows. Invest in yourself and your business, rid yourself of the bad habit of worrying and use your time in a more productive way.

Rather than letting fear take over, think to yourself, what one little thing can I do right now, to feel better about this – instantly, you have lessened the impact of whatever scares you.

© Chris Draper, DemGen Inc. 2015

image courtesy of overyonderlust