What You’ll Get From this Article
Starting a business in your 60s may seem strange. When you constantly hear comments from friends, family, and the media like “You’ve earned it; now it’s time to relax,” it’s understandable why people entering their 60s are programmed to believe it’s time to slow down. I think this expectation is flawed on so many fronts. Maybe I should have titled this article “Never Stop” because it’s less about starting a business and more about living a valuable life until your last breath. For me, though, starting a business is my best answer.
Starting a business at this stage of life is an exciting opportunity to turn your decades of experience, passion, and wisdom into something truly fulfilling for you and others who may be watching.
Always remember: “More is Caught Than Taught.”
Whether you want to pursue a lifelong dream, turn a hobby into a money-making venture, or create a business aligned with your values, now is the best time to act.
In this article, I will discuss why wisdom from lifelong experiences is an asset in entrepreneurship, how to build a business strategy, and the importance of work-life balance. The sense of fulfillment that comes from this journey is unparalleled.
Spoiler alert: Item #9 will show how the connection between your faith and purpose will significantly improve your potential for success and make the journey rewarding.
Keep reading for practical advice and a deeper look into what makes entrepreneurship in your 60s a life-changing experience! Your faith and purpose will be your guiding light in this journey.
Why Start a Business At this Stage of My Life
Like millions of other Americans, I probably spent little time thinking about retirement. My attitude was, why should I retire when I feel good about working and want an active lifestyle? My feelings could be generational because I’ve been working since I was thirteen. To me, work is like breathing. It’s just something a man should do. With all that said, I’m sure many people think differently about retirement, and that’s okay. There is no wrong decision. However, this decision differs from accepting one job offer to another. Retirement is like getting married, selecting a particular career, or deciding about your faith. You’re entering a new life and, in many aspects, a life that will be quite different.
This could be why many people, like myself, don’t plan for retirement—they don’t know where to start.
In my own experience, there is a feeling of death within the context of retirement. We all know how younger generations view retired people. Terms like technology-challenged, stubborn, out-of-touch, and judgmental come to mind. It may be different for those fortunate enough to retire from a company after forty years and walk into this new stage of life with an excellent pension that removes all worry about the future. As you can probably tell, this is not me. But, I believe this retirement approach can produce a very negative outcome. Without a reason to get up, life will take a negative turn. I’m grateful for the life challenges the Lord has provided me, and I see my current stage of life as a way to help others through this stage as well.
Should I Retire? – Changing Course at 64
When I entered my 60s, the topic of retirement began to surface more and more. I knew several friends who were getting close and discussing the options. Still, nobody was seriously planning for a predefined event, as if something special or required was on the horizon. At the time, I had no actual plans to quit working. I saw older family members lose their purpose and health from boredom after working for 30+ years. I was still investing time in learning new technologies and interviewing with companies in the tech industry that caught my attention. However, once I turned 60, I vividly noticed drastic changes in the demeanor of the people with whom I was interviewing. Although they were very careful in their approach with me, I could sense they were concerned about my age and displayed an attitude I was not welcome. For the last 3 three years of my career, my success in getting an offer I wanted became difficult.
Then, in early 2022, life began to change quickly. I was invited to a video meeting to inform me that my position had been moved to another division, and another individual would be assuming the role. In September of that year, I was laid off. The next six months were consumed with figuring out our transition plan. Considering my age at the time was 64, and my wife’s at 67, we found ourselves in a world of Medicare and various other retirement-related topics.
Reflecting on My Past to Plan My Future
Looking back on my career, I never saw myself as a salesman, nor did I plan to become one. This desire was likely influenced by witnessing the pain my dad experienced selling insurance and fighting to keep his job as he neared retirement. But here I was, 64 years old with almost 40 years of technology sales experience. As I looked ahead, the idea of trying to find just one more sales position made me sick.
One of the primary reasons for pursuing a degree in technology so many years ago was to develop a skill that was always in high demand. While I was 100% correct on that front, moving into tech sales negated that idea. Since my early twenties, I’ve remained passionate about technology and helping organizations build solutions to complex business challenges.
This passion led me to resign from a large technology manufacturer in August 1999 to start my tech firm, SuperThought. Then, for almost four years, I owned a web design firm. The experience was both rewarding and challenging from many different perspectives.
Based on multiple decades of selling technology, a few years of business ownership, a passion for technology, especially building web solutions, and a desire to help small business owners leverage this technology and compete more effectively with larger rivals, I thought a lot about starting another business.
Now – Moving Forward in Business Ownership Once Again
After months of research and conversations with family and friends, I decided to restart the web design business from 25 years ago, but with a different approach, as listed below:
- Serve Christ in everything I do
- Focus on the needs of others versus my own
- Build web solutions for clients in the IT/tech industry
- Only partner with businesses that need and want my help
- Offer a complete solution with only a few upgrade options
- Help customers solve business problems, versus selling a website
So, what if you are in a similar situation in your mid-sixties and have recently been laid off? Many will tell you to retire. Few will tell you to step out and take a risk. I feel otherwise. You could easily live another 25 to 30 years in your future – adequate time to enjoy another and entirely different career. If you feel as I do, the following tips may help to make a decision:
It’s Never Too Late to Pursue Your Dreams
Age should not be viewed as a barrier to starting a new business, or for that matter, doing anything you want to do. Not only do we have predefined cultural expectations of others, but we also apply those same beliefs to ourselves. But remember, when we reach this age, we bring a depth of knowledge that younger individuals cannot offer. Further, there are so many people in need of mentoring from older and wiser individuals. If you step into a new career in your 60s, you will quickly attract the attention of others who need your help.
Leverage Your Lifetime of Experience
With decades of professional and personal experience, you offer something unique and valuable—the culmination of multiple decades of wins, losses, tragedies, and other life experiences. Most importantly, this insight gives you an advantage over younger entrepreneurs.
A 60-Year-Old Startup Founder is More Likely to Succeed.
Starting a business in later years means you can leverage these experiences to impact your success and those following in your footsteps positively.
Idea #1: Develop Your Interest in Learning
As people age, they often lose interest in the continual effort of learning. Opening a business in later years will become impossible without the desire to learn and grow. Considering that most of a business owner’s daily activities for the first several years are about learning the skills needed to start a business, you will need the desire to learn.
Idea #2: Focus on Your Purpose and Passion
One of the best aspects of this stage of life is the ability to focus on topics that are important to you, so only jump into areas that spark an interest or passion. At this point, it’s more important to pursue issues that are important to you, not just financial gains. Take the time to identify business topics that align with things that create personal interest. A business based on your interests and motivation will dramatically impact your level of success.
Idea #3: Leverage Tools and Technology
To compete, you will need to invest time in learning and keeping up with the latest tools in your industry. Digital tools, automation software, and online platforms will streamline your operations and enable you to compete with others, especially younger entrepreneurs who are very comfortable with leading-edge technologies. Leveraging these tools will help you grow your business more quickly, saving time and reducing risks.
Idea #4: Networking and Relationships
One of the most significant advantages of starting a business at this stage is the network you’ve built over the years. These connections—whether former colleagues, mentors, clients, or friends—can be very helpful to you as you launch your business. These people can provide support, guidance, and partnership opportunities and even become your first customers. Leveraging your community can be a powerful tool that can contribute to your success.
Idea #5: Work-Life Balance
Work-life balance becomes even more critical at this stage of life. This is one of the best times to focus on your health, exercise, and diet. However, many entrepreneurs in their 60s are still not willing to invest the time. Additionally, these people often become grandparents and want/need to spend time with their families. Don’t become so consumed with starting your business that you don’t have time to spend with the special little people in your life.
Idea #6: Faith and Purpose
For those like me who believe in Jesus Christ, starting a business can be a great way to express your faith in a way you’ve been unable to do as an employee. Needless to say, faith in Christ can provide strength and the ability to weather the challenges that will come your way. Your faith will also impact how you approach and work with your clients, which will also have a lasting impact.
Idea #7: Do Not Give Up – Means, DO NOT GIVE UP!
Regardless of when you start a business, many challenges surface and success will take time. But patience and determination will pay off in the long run. With a well-written plan, you will have a guide to keep you on track. Additionally, you’ll find that the lessons learned along the way are just as valuable as the results. Patience and consistent effort allow you to grow your business thoughtfully, avoiding burnout and ensuring that every step forward is meaningful.
Starting a business in your 60s is not just about creating a company solely for the financial benefits—it’s about pursuing purpose, passion, and fulfillment. Your age, wisdom, and experience uniquely position you to succeed in ways others have not even considered. It may be realizing a long-held dream or simply finding a new path that resonates with your values. Now is the perfect time to step up into a new pursuit versus stepping out into retirement.
Never forget that age is not a barrier but an asset. Stay focused, trust in your purpose, and DO NOT GIVE UP!
