Many people call retirement the sunset years. And to a large degree, these people are right. When you’re past your body’s physical peak and your mental prowess is also dwindling, you’re bound to slow down. For many, that means when they reach the age of retirement, they stop pursuing their dreams. In short, they’re spent.
These days, there are over 54 million senior citizens in America according to the latest data from the U.S. Census Bureau. Though the number could be growing by the day, we get the idea: more and more people are heading into the sunset.
Normally, seniors are facing what may be the most challenging section in their lives, given the fact that all sorts of life-threatening diseases manifest in these times. But the virus has turned what’s already a challenging time into something far riskier. Indeed, ever since it started older adults suffer the biggest brunt of the pandemic.
But you should beg to differ. Not only are your senior years give you an enormous advantage in business, but also you’re better equipped not to succumb to the usual pitfalls that happen to younger entrepreneurs.
Indeed, you may have to stay active and pay closer attention to your health. But overall, there are certain benefits that come to your territory when you do business after retirement. One successful senior entrepreneur should show you the way: Charles Flint.
Your Vast Network
Our stereotypes of people can play games in our minds. When you talk about a successful entrepreneur, chances are your mind will picture someone like Mark Zuckerberg or Elon Musk. These young, uber-billionaires are filthy rich no doubt.
But beyond what you see, there are also a host of older entrepreneurs that have achieved their success in their senior years. Top of that list is Charles Flint (1850 – 1934).
Before there was Microsoft, the one blue-chip company that everyone revered is International Business Machines (IBM). The Goliath company is one of the world’s biggest manufacturers of computer hardware. It was founded by Charles Flint at the age of 61.
Called the “Father of Trusts” (thanks to his business acumen), Charles had a wide global network. Not only was he an avid sportsman (held the world water speed record), but he wore a lot of hats making deals everywhere he went.
- He negotiated the first airplanes for sale overseas for the Wright Brothers.
- He also served as a Chilean consul
- He formed U.S. Rubber
- He provided ships to Japan to aid in the First Sino-Japanese War
You may not have such a striking resume but for sure, you’ve developed a wide network all these years. And this is one big leverage for you.
Success in business doesn’t just come from sheer hard work or talent. It also is contingent on the people you know. You may not be a networking wizard but you’ve accumulated a lot of contacts. Best of all, they know you. You don’t need to knock on doors to be introduced.
Greater Business Experience
At this point in your life, it’s best to be sure-footed. That’s why even before your business has taken off, you should already consider financial planning for the future.
A good example here is your estate plan. When you come up with the document with the help of reliable lawyers, you ensure your business and your estate will benefit the right person should something happen to you. It means continuity for your business and less hassle financially for your kids and the people you love.
Another great advantage you have when doing business in your senior years is the vast experience you have accumulated throughout these years. It’s undeniable. What’s more, it can’t be taken out from you.
Formal education may play a huge role in business. But a stint working in the trenches is invaluable. It’s also a benefit hordes of younger entrepreneurs cannot draw strength from. Yet, you have tons of it in your resume.
Also, this comes with much sought-after wisdom. That can mean better deals for you. As a seasoned businessman, a lot of people are more than willing to do business with you. The trust goes with your age. You are less likely to make rash decisions as many young businessmen usually do.
Turn Your Age Into an Asset
Give it a go. Instead of hiding your age for fear of being ridiculed, be proud of it. A Stanford Center for Longevity report reveals older employees are looked upon as pillars of their respective companies. They’ve proven their loyalty. They believed in the company through thick and thin.
Your age can indeed be your biggest selling factor. While you may not have the smoothest of skins, you can boast of the most tempered of approaches, something that only comes with age, as one Mr. Flint did with ardor.
