middle age

Why You Should Forget Retirement If You are a Woman Over Fifty-Five

We are new to our community. Consequently, when people are introduced to me they have questions of me. Many times they like to know what I do with my time now that I’m retired.

My answer surprises them every time. “At the age of sixty-two, I started an on-line business specializing in drama education resources. I sell teaching materials through it.”  They are immediately intrigued and smile.

I guess you could say I didn’t really retire.  I pivoted.

Creating my own business for the first time at age sixty-two was quite a feat. I’ll admit this loud and clear so the people at the back can hear–most people are not interested in doing something like this.  It sounds like a lot of work and spending countless hours educating yourself. Plus, in my case, I had to deal with the challenges that go with selling on-line. (I mean, what’s an “SEO”? What the heck is an “algorhythm”?)

If you are wondering about creating your own business, you have what it takes to do it.  It’s a toughie, fun, but it’s all worth it!

Here’s my secret–I know I can do hard things and I learn to master them.. So can you! On top of that,  I’m very willing to spend my time learning something new and keeping at it until I’ve got it mastered.  In fact, I feel younger just by learning. Do you?

The Advantages of Being a Woman of a Certain Age

According to https://www.forbes.com, there are advantages to starting a business when you are older:

1. You can build on your extensive experience.
2.  You have a great network.
3. You have financial skills.
4. You have good credit.
5.  You have the freedom to create your dream business.
6. You have perspective
7.  You have more flexibility.

In general, women sell themselves short especially women over the age of fifty.

Is this you?  You may have busy families, but your children are raised and out of the nest. You may have grandchildren in which you pour your energy and interest. If you worked outside of the home, you were probably employed for at least fifteen years and mastered your occupation.

If you are any of the descriptors above, this is a terrific time to start your own business!

Why You Should Forget Retirement If You are a Woman Over Fifty-Five

My two older brothers had their own businesses–one brother, (we’ll call him Bob) is very successful and continues to work, now in his seventies.  The other brother, (we’ll call him Hank) was not as successful and filed for bankrupty TWICE in the 1980s. That was unheard of in the1980s.

Observing their businesses over many years, I decided I didn’t want to ever end up like Hank. I also knew I wouldn’t ever end up like Bob because I just didn’t know near enough to have my own business.

A Trial by Fire Experience

Sometimes I forget I’ve accomplished things, do you? I’d forgotten I’ve created businesses several times, but they weren’t all mine. At the time, I was afraid to do it on my own so I helped theater companies file for nonprofit status. One was Columbia Entertainment Company in Columbia, Missouri.

Through not-for-profit status, I teamed up with other people and helped to create a community theater or develop youth theater programs.  Learning on my feet, so to speak, was an excellent experience!

The best part of not for profit is just that–all the profit goes back into the business.  A big perk is people can donate to the business, you can apply for grants seeking funds for programs (which I found I was very good at writing!) and so forth.

Over some fifteen years,  I became competent working in nonprofit. When I was president of one theater, I took the company from a $10,000 budget to $100,00 in one year.  That was in the 1990s. Of course, I didn’t do all of that by myself but I think that was a huge accomplishment for someone in their early forties with no background in business.

My daddy didn’t raise no fool.  I am smart and I’ve taken several courses about marketing. From time to time I read books about business ownership.  In particular one program which is excellent to study is Ready Set Pro with Sue B. Zimmerman at the SBZ team.  I’d check her out if I were you.  She’s the “Grande Dame” of Instagram and can teach you how to use it to your advantage just as I have!

Why You Should Forget Retirement If You are a Woman Over Fifty-Five

Now that I’ve been through owning a business which has made six figures (which is no small feat when I sell one product at a time at an average price of $10.00), I have a “baby” stage of experience about it. It is certain that I’m not an expert at all. However, it is my hope I can encourage you to have your own business.

Here are a few questions you might ask yourself before you begin:

• What are your reasons for beginning a business?
• Do you want to leave a legacy for your family?  That’s an excellent reason to begin a business.
• Will you sell on-line?
• If so, what platform do you think you’ll use?
• Or do you plan to have a box store?  How about a pop-up?
• Who do you want to serve?
•  What will you sell in your business?  Coaching services?  Courses?  Digital Materials?
• Do you plan to sell materials you’ve made by hand? Or find someone to make them for you?
• Do you have a business plan?  (I did not have one. Oops.)

The Wonders of the Internet

Here’s some good news:  Just about anything you’d ever want to learn about a particular subject you can find on the internet.  I search constantly if I don’t understand something.  There are thousands of people out there just like you and me who can teach you how to do learn new skills you’ll need.

Don’t know what you could do? According to Nerdwallet.com  , here are a few ideas: