As a potential business owner, you are never too old to launch a startup business that you are passionate about operating. There’s that age-old saying “you’re only as old as you feel.” Well, that’s very true! And if you are considering a startup business think of all the experience you bring to the table compared to those spring chickens. And it’s not just business experience either. Life experience can bring a lot to the table too. Think of those challenges you’ve had previously and will be able to avoid or detour around because you recognise the signs. It’s not to say that your startup business venture will run smoothly. Whatever does in life! But don’t let age stop you from starting.
Previous business and work experience combined with life experience is priceless. It’s not something that can be bought or learned either. You need to live it. So many situations that you’ve experienced and lived can help you run a business. From time management through to knowing your limitations and what your strengths are. Know when to outsource or when to surround yourself with the right time of people. And by the right type of people, we mean supporting people. And people whose strengths are your weakness. And don’t forget to surround yourself with supporting resources too.
Write a business plan for your startup business idea
It’s that dreaded two words that most business owners or startups dread. But it doesn’t need to be as complicated as you think. Unless of course, you are needing to seek funding or startup capital. Then the banks will want to see and know EVERYTHING! Even your blood type (well not quite but nearly). There are some great business resources online if you need to go this route.
If you’re not needing a formal business plan for the bank though, then get creative and keep it simple. Some points to consider are:
- What does your business look like to you: home based, mobile office, commercial space? How do YOU want to do business?
- Money: what do you need and want to live the life you want. Work backwards from what you want or need to make for the year and break it down in to monthly and weekly and then how many hours that means you would have to work a day or week. Is it achievable? Is it what you want? Don’t forget to include your expenses too. During startup, these can be quite high depending on what you are wanting to do. Be realistic and always err on the worst case scenario or run all scenarios. The more facts and figures you have the better!
- Your WHY: what is your mission, vision, and What are you passionate about?
- Products or services: what do you want to offer, how does what you’re passionate about translate into what you offer, what can you bring to the table, what makes your heart sing
- Customers: who is your ideal client? Dig deep and be specific – male/female, age, where they live, where they shop, what social media platforms do they use, how will they benefit from using your product/service.
- Action: what actions and goals do you need to set and kick to meet the above
Remember this is your business and it needs to work and operate how YOU want it to. You don’t want to be a slave to your business. Work smarter not harder!
Plan what you can outsource and where you need support
Remember there isn’t much that you can’t outsource or delegate these days. So, work to your strengths and get business support for what isn’t.
Working with a business like SOI allows you to utilise virtual office support if that is what you want. Or does a serviced office suit your needs better? We offer that too. And even meeting room hire options on a regular or adhoc basis.
Think about how you are going to manage something as simple as your phone. Do you want to be a slave to a ringing mobile phone all the time? SOI has virtual receptionists that can handle this for you too. We have packages to suit startups through to advanced businesses and with no lock in contracts it’s so easy to upgrade your package as your business grows.
Remember by working with a company such as SOI your business is joining a community of business owners that are working with our dedicated staff to reach their goals faster. You’ve got your own network just within SOI. And SOI supports this with regular networking events too.
So, no matter your age, remember you’re only as old as you feel. Make a start today! If you need assistance or would benefit SOI are here to help you. Please contact our dedicated team today to discuss how we can meet your business needs and help you meet your goals.
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