According to Entrepreneur, People older than 55 years of age have double the likelihood of launching a high-growth business venture as compared to people under the age of 35.
Source: Entrepreneur

With your years of on the job experience, managerial skills, and productivity know-how, you are primed to join the ranks of those successfully building their vision for entrepreneurship. And it seems, according to the statistics, your late bloomer status combined with a passion for forming a business you love is in good company.

If you’re looking for an extra vote of confidence or motivation to become your own boss, we’ve got you covered. We’ll skip over the inspirational quotes and cut straight to the facts. There are many factors backing up the claim that mature aspiring entrepreneurs like you are ready to take the leap. Here are 5 benefits of leaving corporate America to pursue your own passions later in life.

1. Life Experience

Getting to know yourself takes time. Over the years, you gain insight and a heightened level of comfort in your own skin. By the time you start your business you will have identified your strengths and weaknesses, likes and dislikes, as well as what you need in order to achieve a sense of fulfillment.

2. Business Aptitude

There is no substitute for time spent in the workforce. The result is a better understanding of logistics, finances, operations, client relations and much more. According to Forbes, this prior experience is crucial as there exists a clear link between the number of years someone spends in the same industry as their startup, and the subsequent success of that business.

3. Sufficient Funds

With age comes acquired monetary funds. Having had more time to save and invest, you are more likely to be financially stable at a later stage in life. This will allow you to self-fund your new business venture, leaving the need for investors, high interest rates, and debt out of the equation.

4. Impressive Network

Relevant and well-nurtured connections. That is the result of decades spent working in corporate America. Your Rolodex will likely present solutions for finding quality suppliers, skilled employees and potential customers – giving you a leg up on those young, fresh out of college, entrepreneurs.

5. Different Perspectives

We all have unique personalities and viewpoints. However, the more time we spend on Earth, the more we broaden our horizons. Research from Penn State suggests that more seasoned individuals are a valuable, untapped resource of entrepreneurial verve. Their findings are based on the belief that this demographic possesses a variety of passions that lead to innovations; specifically those that contribute to the betterment of communities and society as a whole.

60 percent of people who start small businesses are between the ages of 40 and 60.
Source: Small Biz Genius

Now that we’ve determined you are in fact cut out to be a business owner, the next question is where to begin? If you’re ready to give your dream the traction it deserves, tBp offers customizable micro-office spaces that serve as the perfect place to transition from dreamer to doer. Prepare to be inspired by your surroundings, and embrace a future where being your own boss truly feels like home.

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