3 Things I Learned about Launching a Business after 60

Have you thought about starting your own business now that you’ve retired? Businesswire reports that 42% of all businesses are owned by female entrepreneurs, many of them over the age of 60. But before you launch yourself into the marketplace, allow me to share with you three important lessons I learned after I decided to start my own business at age 65.


Know your "Why"
You have an idea, maybe a long-held dream. Now that you’ve retired, you finally have the time to launch that dream business you’ve been creating in your head for months or years. Should be easy, right? Not so fast. The road to entrepreneurship can be rocky, so it’s important to establish a firm “Why.” Why do you want to write the book, design the jewelry, try stand-up comedy? The clearer your answer, the stronger your commitment will be, and the more capable you will feel to handle the challenges.
Are you yearning for a sense of purpose? An outlet for your creative energies? A stream of revenue? Your new business may provide all those things, but it may take years of long hours and hard work. Your “why” will keep your commitment strong when the going gets tough. 
I’m passionate about women’s wellness of body, mind and spirit in the years beyond 60. Not everyone shares my passion, and finding others who do can often be challenging in a saturated online marketplace. I hear “No” much more often than I hear “Yes.”  Many times I’ve thought about giving up, but my “why” keeps me going. Every long hour I spend creating and sharing my passion still ignites a spark in me, still fills me with joy. Is that true for you? That’s how you know for sure you’ve found your “why.”


Check your ego at the door
After days, months, maybe years of sweat equity, You’ve finally finished your new creation. As you excitedly release it into the world, you envision the throngs of people who will declare you the best thing to come along in ages. Then… well, crickets. No one comes, no one clicks, no one lays down any cash for your prized creation.
If your definition of success is based on the number of likes, clicks, or $$$ you earn, you may be in for huge disappointment. According to Fundera,  new businesses fail 50% of the time in the first five years. With odds like that, your ego will experience plenty of “ouch” moments. 
I launched my first online course with a free event. 60 people signed up! I was thrilled. But I quickly learned that those who love your work when it’s free won’t necessarily follow when you offer your product for purchase. Was I disappointed? Absolutely. I spent a few weeks in my private “pity party,” until I was able to understand that I hadn’t really failed at all. I had a wonderful time creating my course. I learned valuable new practical skills that continue to serve me well. I connected with a great community of women who still follow my newsletter. Win, win, win…
Celebrate your accomplishments and remember that rejection is simply part of the process.


Beware the shiny penny
In the early days of your business, so much is new and exciting. It’s easy to get carried away by adrenaline. Say you’re wonderful at strawberry shortcake. It will be your signature creation. Then you browse the web and decide one cake is not enough. You spot a recipe for Chocolate Fudge cupcakes. Oooh, add that to the menu. Apple Pie? Add that, too! Cookies,  brownies, scones… and suddenly you’ve scattered your energy into so many areas that your signature creation is lost in the shuffle. 
I love technology, and in creating my online wellness business, I spent hours learning to build my website, grow an email list, create snazzy graphics, post to YouTube, Facebook, Zoom. I allowed myself to get so carried away by the “shiny pennies” of technology that I stopped creating my signature program! 
Trust that your signature creation is enough to begin the journey. Then prioritize your time and energy on tasks that serve your signature gift.


Launching my own business has been an incredible learning experience for me, and it will be for you, too. Remember to know your “why,” check your ego at the door, and avoid shiny pennies. Most of all remember… it is not too late. You are not too old. You are right on time to launch the business of your dreams.

Do you have a dream business you'd love to try? What ignites your creative fires? Please share in the comments below.