5 Terrific Reasons Why You Should Consider Starting A Business At 40
You’re wondering if starting a business at 40 is a good idea… are you too old? Will it take forever to make it successful? How about if you’re starting a business in your 40s? Have you missed the boat?
The truth is, you can start a business – including launching an online business – at any age.
While much is written about teenagers and college kids starting businesses, there’s a bit of a ho-hum approach to starting a business when you’re over 40.
Yet, it’s such as viable thing to become your own boss after retirement. You’ve got to start somewhere!
Let’s explore some of the reasons why now is the perfect time.
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Top Five Reasons Starting A Business At 40 Is A Smart Move
Whether you’re just 40, or older, I have a feeling many of these reasons are going to resonate with you.
From planning your future finances to keeping yourself busy, there are core reasons why now is the time to start a business.
1. You’re Ready To Leave The Corporate World
You’ve put your time in and now it’s time to start doing things differently.
CEOs, managers and supervisors are becoming unbearable to deal with and still treat you like a junior. Meanwhile, you’re very capable of taking the reigns and working independently without a micro-manager hovering over you.
Many people in their 40s quit their jobs because they don’t want to deal with the corporate BS. I get it! I’ve felt it at times too.
TIP: Want to learn more about leaving the 9 to 5? Check out my friend Daphne’s blog – Free at 50 Blog. She provides invaluable tips and motivation to get you on the road to leaving the corporate world and starting your own business.
2. You’ve Got Knowledge And Expertise In Your Niche Field/Hobby
Whether you’re an expert in your niche (that you still love) or have a hobby that’s made you well-known, you may want to start your own business.
Whether it’s as a side hustle or a complete jump into a full-time career, it’s easier to do so when you know the niche very well.
Your credibility factor is there, and it’s easier to start a business without the extra learning curve.
This is why I recommend people start hobbies and try them out first before jumping into a business.
I had a hobby blog for many years before I realized I was good at it and could apply my client relations skills learned while working in PR agencies to a blog coaching business.
3. You’re Ready For A New Challenge In Life And A Reinvention
One of the top reasons you may want to start a business in your 40s is the desire to prove to yourself that you can do it.
You may also be looking at a complete reinvention of yourself.
Something’s been lacking in your life. You’re not feeling like you’ve done all you can to reach your full potential. Maybe you’re feeling bored.
You need a challenge.
Or you are finding yourself with your role as mom or dad diminishing – they don’t need you anymore. You have an empty nest. The kids are now in college or university leaving you with fewer responsibilities.
You may have dreamed of a business for a while but didn’t have the time.
Now’s the time!
For some, starting a business that’s fulfilling and challenging happens after a life-changing event like a divorce.
I say, go for it! It’s a great feeling when you can successfully build something that people need and love.
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Start doing your research to see if you’re ready to start a business.
4. You’re Preparing For Retirement… And Can’t Stop Working
You can see your future: retired from a full-time job with nothing to do. Yet, you still want to make money and create something where YOU’RE the CEO.
Some people have a “Can’t stop, won’t stop” attitude. It’s yet another reason to start thinking of starting a business in your 40s.
If you can’t see yourself completely slowing down, then consider starting a hobby now in your 40s that transitions into your own solopreneur or entrepreneurial business.
| RELATED: 100+ Hobbies That Can Easily Turn Into A Business
5. A Poor Economy Has You Planning For The Worst-Case Scenario
You’ve seen recessions over the years and know that losing your job is a great possibility. With finding a job almost impossible these days due to a variety of reasons, it’s best to make alternative plans for an income.
This is why I started my blog coaching business. It supplements my current income but also can help when things get rocky.
Start a side hustle that you can easily transform into a full-time business.
When you start a solopreneur side hustle in your 40s, you’ll be laying the foundation for a career.
You never know – your small business can explode into something bigger fairly quickly! It’s happened to several of my blog coaching clients, to their delight.
Take the risk and surprise yourself with what you can accomplish.
Key Things You’ll Need To Start A Business
This is just a general list of things you’ll need to research and plan for when you’re starting a business:
- Niche and market research: is it a viable business opportunity and who are your potential customers
- A business plan
- Business website: look into a self-hosted WordPress site (affordable, quality website hosting options include NameHero and BigScoots)
- Marketing plan: how you’re going to promote your business
- Facebook groups for women entrepreneurs to join!
You’ll need to look into a LLC if you’re located in the US.
If you’re still on the fence about starting a business, start doing your research before you take the plunge. It can greatly help you determine if your business will have a chance of being successful.
Finally, the last thing you’ll need is a support system. I wouldn’t be where I am without the support from my husband and family.
Starting A Business In Your 40s Is Fulfilling
Take the risk and reap the rewards!
Even if you fail, starting a business in your 40s is a great experience.
Consider all of the skills that you’ll learn along the way. Here’s something you may have not considered: you can add those skills to your resume if you continue in the corporate 9 to 5 world.
Here are a few key things to remember as you start and grow your business:
- Consistency is the key to success
- You’ll never succeed if you take risks
- You’ve got this: you’ve learned so much over the years that you can adapt and find solutions
- Failure is never a bad thing: learn from mistakes and move on
Are you ready?
I hope so! And if you ever need help marketing your new business with a blog, I’m a blog coach that offers one-on-one sessions.
| RELATED: 50 Powerful, Short Motivational Quotes To Keep You Going
QUESTION: Have you considered starting a business in your 40s? If yes, which niche?
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