The population with 50 years or more is growing around the world, and already represents a significant portion of the global workforce.
In Brazil this is no different, which makes the productive and consumption potential of this population the main driver of the so-called “silver economy”a phenomenon that is already closely observed by several companies and intends to develop goods and services designed specifically for consumers 50+.
This concept has become increasingly relevant in the face of population aging, and gains even more importance in light of the expansion of the economic potential of the “silver generation”, whose need for requalification, productivity and consumption mobilizes economies and also private organizations.
According to a survey by the Data8 research center, this portion of the population currently moves R$ 1.8 trillion, representing 24% of GDP (Gross Domestic Product). In the next 20 years, this percentage should jump to 35%, or R$3.8 trillion.
It is also in this scenario that entrepreneurship has become a viable alternative for those who wish to remain economically active in the face of productive needs and long hours in the job market.
Tips for starting a business after age 50
To guide the entrepreneurial journey of people over 50, Surama Jurdi, mentor, businesswoman and specialist in international business education, recommends paying special attention to purpose.
“At this stage, what becomes more important is meaning. Many professionals arrive at this moment in life with a wealth of experience — knowledge, achievements and valuable life experience — and begin to want to use all of this in a way that is more aligned with their values and life purpose”, he states.
“Entrepreneurship with purpose is combining what you love to do with what you are really good at and what the world needs. When these three elements meet, an authentic business is born, consistent with its values and capable of generating sustainable results”, he argues.
Below, other tips from the expert for those who want to start entrepreneurship after the age of 50.
1) Attention to new technologies and generations
The expert also highlights a long-term vision and attention to new technologies and trends as essential actions to make the business (and the entrepreneurial journey) successful.
“Another decisive factor is maintaining a young mentality, understanding how they think, what they consume and how they behave. Learning to deal with different age groups, respecting their views and making the best of each one, after all, in reality, age is just a number”, he says.
This is the logic followed by Juliana Cruz, franchisee of the autonomous mini-market startup Minha Quitandinha, in São José dos Campos (SP). At the age of 50, she decided to abandon teaching at the university and seek more autonomy and time to dedicate herself to her children.
“Even after the age of 50, we cannot be afraid of technology. On the contrary, it is today one of our greatest allies. It is essential to carefully plan the path you want to follow, value your own time and work intelligently, not just with intensity”, he says.
2) Firmness in business decisions
As it is a decision often motivated by the desire for change, entrepreneurship after the age of 50 can be a lonely journey, without the company of partners or initial investors other than the business founder.
For this reason, Sumara highlights the importance of maintaining solidity in each decision made, especially if it is made individually.
“Making important decisions without having someone to share the burden with requires balance and maturity. You decide, accept the consequences and move on”, he says.
Far from being something totally negative, he argues, reality reaffirms the need for well-structured planning, with clear goals and a long-term vision.
3) Do lots of research
Heleny Lins Costa Jatobá, 61 years old, recently decided to start her own business. At 56, he opened his own business, a unit of Grupo HSH, a delivery chain specializing in Asian and Hawaiian cuisine, in Maceió (AL).
Despite her previous experience in commerce, she faced challenges such as a lack of experience in the gastronomy area and the difficulty in finding qualified employees. To overcome these barriers, he invested in courses and sought training and support from entities that support entrepreneurship.
“It’s never too late to start. Experience and passion for work are fundamental to success, as is seeking professional qualifications, even at an advanced age”, he says.
The entrepreneur’s story is in line with one of Sumara’s recommendations: investment in training, extensive market research and the search for complementary courses in administration and other management skills.
“It is also crucial to connect to the area of activity, even without mastering the sector, get close to people who understand the subject, study and invest in courses, thus reducing errors and accelerating results”, he indicates.
4) Seek support from a good team
More mature entrepreneurs must be clear that multidisciplinary teams are fundamental to the success of a business. The variety of skills, knowledge and points of view add value and help businesspeople gain speed and expertise in areas they do not necessarily dominate.
“A strong team brings speed and consistency to results, and that’s what the most mature entrepreneurs have already understood. When purpose, experience and a good team come together, success stops being a possibility and becomes a natural consequence”, says Sumara.
5) Maintain and innovative mindset
For the specialist, it is essential to maintain what she calls an “entrepreneurial mindset”: an innovative mindset, with curiosity and willingness to follow trends, change processes and constantly implement new ideas into the business.
“What counts is the energy and willingness to reinvent yourself. Keeping your mind young, curious and open to new things.”
By Maria Clara Dias
