The image of startups often leans towards the fresh-faced youth of Silicon Valley, however, the majority (68.9%) of women business owners are from the Gen X generation. These women are rewriting the script of midlife accomplishments and aspirations. It’s not about winding down, but rather gearing up for the most audacious venture of all – self-made success.
The world of entrepreneurship can feel intimidating, especially for women mid-careers, but don’t let that discourage you from pursuing your dreams and making your mark in the business world. Women have been breaking barriers and shattering glass ceilings in all areas of entrepreneurship, from tech startups to fashion and beauty brands.
A mid-career entrepreneur brings a unique set of skills and experiences to the table to help ensure success. Surround yourself with a supportive network, do your research, and take calculated risks. With dedication and perseverance, you can turn your passion into a successful business and inspire others to do the same.
1. Leverage your network
As an entrepreneur, your most valuable resource is your network. You’ve likely built up a community of colleagues, clients, and mentors over the years that you can turn to for support. Your connections are the equivalent of hundreds of years of collective experience and education. Don’t be afraid to tap into their expertise and ask for guidance.
2. Digitize your presence
Having a strong online presence is a must for any business looking to succeed. By transforming your career into a digital brand, you can exponentially expand your business’s visibility and credibility. To achieve this, it’s important to have a professional website and active social media profiles that showcase your business and allow you to interact with your audience. Most people research services and products online before a purchase, and this is especially true in today’s digital age.
3. Financial planning
Starting a business in your 50’s presents unique financial considerations that must be considered for success. Financial planning is key to startup success and personal well-being. Starting lean and bootstrapping the business is important, and when possible, prioritizing necessary expenses and high-value services that contribute to business growth.
4. Your unique selling point (USP)
Identifying and communicating your unique selling point (USP) can make all the difference in standing out among competitors. For those in midlife, your years of professional experience can be transformed into your business’s standout feature. Your years as a consumer or end-user gives you invaluable insight into how your business can add value or convenience to your customers, and allows you to level up quicker.
5. Feel the fear and do it anyways
There are countless unknown variables and risks that come with putting yourself out there and pursuing something on your own. It’s natural to feel scared or uncertain about taking the leap, but that fear shouldn’t hold you back. You have the life experience to handle any challenges that come your way and you’ve learned to roll with the punches. After years working for someone else, it’s time to turn your creative and problem-solving energies into your passion project.
