Entrepreneurship is ageless
An ageless entrepreneur is a new normal because pursuing passion never comes with an expiration date. The past generation of parents and grandparents feel inspired by the stories of young teenagers finding what they love and monetizing it. But the due credit falls upon the pandemic to bring out the entrepreneurs in homemakers and retired older adults. Leading a business has turned more dynamic than ever.
Falguni Nayar, CEO of Nyyka, would be a perfect example of the concept of ageless entrepreneurs. A woman in her late 50s left her investment banking job and opened a multi-brand ecommerce website in the beauty segmen, later driving the venture to success. Riches are no more young, dynamic, fresh out of college individuals. Entrepreneurship has more to do with the zeal to pursue what you want.
How is an ageless entrepreneur a more common phenomenon now?
The current situation strongly points to the upcoming excellent resignation trend in the industry. The world of corporate politics, hustle, stress, and unprecedented growth makes most early or mid-40s individuals feel the need to rejuvenate their passion and think about creating business ideas. However, those soon to touch their retirement age must identify a better income stream to flow.
Take the example of Radhakrishna & Shakuntala Chaudhary, an 80-year-old couple who, inspired by their daughter’s persistent hair fall, decided to spearhead the idea of developing Avimee Herbel to treat baldness. Following the small business trends of making Insta reels, they have a solid customer base who benefited from what this grey-haired couple had to offer.
With Age comes Wisdom
Small Biz Genius reports the estimated rate of entrepreneurs between the age of 41 and 56 stands at 46%. Of course, millennials today, especially teenagers, are more than capable of building their ventures. They bring a fresh perspective along with them. But with age comes endless wisdom. The wisdom is curated from years of observation working in the corporate world. They have closely understood the nuances of how things work in a business and might have contributed actively to being an employee. But as they reach that stage of their life, they have that urge to create business ideas that reconcile with their values, interest, and expertise.
Technology makes it easier
The most significant contribution behind the idea of the ageless entrepreneur is technology. An article published about ageless entrepreneurship in Entrepreneur.com in 2017 pointed out a fact way before the pandemic created a strong urge in people to seamlessly utilize technology. From young to middle-aged to old entrepreneurs, tech can decode significant problems and help run a smooth business.
Bringing in talent globally and getting more things done at a lot less cost becomes an advantage. Even more so, the technology gives a playing field for any age group to pursue courses for entrepreneurs to get to know more nuances of business and establish it better.
Ease of Work Space
Today small business trends start from the kitchen table, small work stations in the corner, and co-working spaces. No rigidity exists in owning a hot-shot office with glass frames and a giant swivel chair, and it is all so easy without the constraints of spending a large sum. For small business owners, things are more accessible with social media to scale their business from home and find a separate location once the profits are significant.
There is no better time than the present to think about being an entrepreneur because age has nothing to do with expertise, interest, passion, and creating business ideas. As long as the pathways to do better and innovate remain alive, ageless entrepreneurs will always be a thing. That’s why at MIDAS, entrepreneurship training isn’t meant for young aspiring business leaders but for anyone eager to build something. To know more about the program, click here!