6 Tips for Becoming an Entrepreneur After 40

Entrepreneurs aren’t limited by age, and you can start a successful business at any stage of your life. However, becoming an entrepreneur later in life has its own unique challenges.

Consider these tips for starting a business as a senior:

  1. Avoid allowing others to limit your goals. As you get older, you may have more people in your life who try to persuade you away from the entrepreneur lifestyle.  
  • Your family and friends may have good intentions, but they can also limit your dreams.
  • They may remind you that it’s more difficult to start a new business as you get older because you have other responsibilities. Children, aging parents, and others can take up a lot of your time and present challenges when starting a business. However, knowing that these challenges exist can also help you make contingency plans for when time is tight. 

  1. Ignore your age. Dreams don’t have expiration dates, and entrepreneurs don’t have age limits. As they say, “you’re only as old as you feel.” So if you feel like taking on the rigors of starting a new business, let your age be the last thing on your mind as you move forward with your business plans.
  1. Be open to learning from others. The most successful entrepreneurs are open to learning new ideas.
    • Stay up to date on new advancements in your field, either by keeping in the loop yourself or by hiring employees or contractors that incorporate this into their tasks.
    • Finding a mentor with successful business experience in your field can help your new business see profits quickly and plan for successful growth.
  1. Get your family involved. Successful entrepreneurs often have their family members involved in the business.  
  • Do your children want to help you build a business? Does your spouse have interesting ideas and want to collaborate with you? Your family can help you make your dream come true.
  1. Consider the impact of the business on your personal life. How will the business affect your family and ability to continue working your regular day job?  
  • A new business venture may be exciting, but it has consequences.
  • It’s important to consider the full impact of the new business on your personal life. Will you be able to spend time with your children and spouse as you launch the business?
  • Your personal finances are another area that can be deeply affected by a new business. How do you plan to pay for the business? If your plan involves draining personal finances or getting new loans, then this can affect your entire family. It’s important to discuss the changes with them before you take action.

  1. Consider the impact of your parents on the business. As your parents age, they may become dependent on you. Can you handle the complexities of being an entrepreneur and caring for your parents?
  • Younger entrepreneurs may have decades before they have to worry about caring for their aging parents. However, as an older entrepreneur, you don’t have this luxury.
  • You may have to handle multiple roles at the same time. How will you balance your lifestyle and finances to manage everything? Can you afford to start a new business if your parents need your help?
  • Your parents can have a serious accident or health issue that makes you responsible for taking care of them. The expense of this situation can be detrimental to your efforts with your new business.

You can become a successful entrepreneur and build a strong business at any age. However, it’s important to stay aware of the challenges that come with being an entrepreneur and make plans that will help you overcome these challenges.


If you enjoyed this post, I invite you to take a moment and sign up to receive the BusyGal Bi-Weekly Affirmation Inspiration in Your Inbox.

Affirmations are simply statements that are designed to create self-change in the individual using them. They can serve as inspiration, as well as simple reminders. They also can serve to focus you attention onto your goals throughout the day, which, in and of itself, has the potential to promote positive and sustained self-change.

People use affirmations for a variety of purposes. Generally speaking, affirmations are used to reprogram the subconscious mind, to encourage us to believe certain things about ourselves or about the world and our place within it. They are also used to help us create the reality we want—often in terms of making (or attracting) wealth, love, beauty, and happiness.

According to Walter E. Jacobson, M.D., there is value in affirmations of this nature, because our subconscious mind plays a major role in the actualization of our lives and the manifestation of our desires. What we believe about ourselves at a subconscious level, he says, can have a significant impact on the outcome of events.

At the simplest level, when we feel good about ourselves and have a positive attitude, our lives tend to run smoothly. Proponents of the “law of attraction” often refer to this as raising our vibration such that when our vibration is positive, positive things—such as financial abundance, love, and renewed health—are magnetically drawn to us.

You can sign up HERE to receive the BusyGal Bi-Weekly Affirmation Inspiration in Your Inbox.

The Reinvention of YOU – Increasing Your Self-Esteem

You might have discovered lately that you aren’t feeling as positive as you could about yourself. Maybe you’re disappointed in how you look or some of the emotions you feel. Your attitude might slip a bit at times and you find yourself making self-deprecating statements to others.

How can you get out of this rut and reinvigorate how you feel about yourself?

These strategies will help you get back on track and increase your self-esteem:

  1. It’s time to take a good, long look at yourself. Although it might be scary or even a bit disappointing, the sooner you do it, the quicker you’ll be able to get yourself back on track.
  2. How’s your physical appearance? Consider any changes you’d like to make to how you look. It’s common to go through life phases when you don’t take the care with yourself that you usually do. For many, a new haircut and some extra attention to personal grooming goes miles toward increasing self-esteem.
  3. Look at yourself with a kind eye and make some decisions on what you can realistically and financially do to improve your appearance. As you probably already know, your appearance is paramount to how you feel about yourself. Improving your appearance most likely means you’ll improve your self-esteem.
  4. Recognize your strong points. Although your mind hasn’t been in a place to really notice what you’re good at, take some time now to do just that. Maybe you’re a great cook, wonderful with kids, and the hardest worker at the office. Every single person has strong points and it’s important for you to know what yours are.
  5. Remind yourself what you truly love about you. Maybe it’s the way your green eyes shine or your red hair makes your facial features stand out. Perhaps you’re consistent about doing exercise or you’re brilliant at keeping the conversation going. You’re even in awe of the patience you have with others or your willingness to step up and volunteer to help out others.
  6. When it comes to you, what are you the most proud of? What do you consider your greatest achievements? We all have something to be proud of. Figure out the things about you that you take pride in to raise your self-esteem a few notches.
  • Maybe you keep an organized house or wash your dad’s car every week without fail.
  • Perhaps you write a good story or can keep your cool when your kids are acting out.
  • Did you work your way through college without any help or support from others?
  • Accept compliments openly. Make eye contact, smile, and say, “thank you” whenever people pay you a compliment. After all, people aren’t going to go to the time and trouble to pay you a compliment unless they believe you deserve it. Relish in the good things about you that others notice. Embrace those positive comments. Doesn’t it feel great?

You can reinvent yourself by taking steps to increase your self-esteem. Look within yourself to evaluate what you need to feel better about yourself. Make changes in your physical appearance, open your eyes to your strong points, and be aware of what you love about yourself. Acknowledge what you’re most proud of and embrace compliments.

As you do these things, your self-esteem will soar. The reinvention of you will be successful and complete!


If you enjoyed this post, I invite you to take a moment and sign up to receive the BusyGal Bi-Weekly Affirmation Inspiration in Your Inbox.

Affirmations are simply statements that are designed to create self-change in the individual using them. They can serve as inspiration, as well as simple reminders. They also can serve to focus you attention onto your goals throughout the day, which, in and of itself, has the potential to promote positive and sustained self-change.

People use affirmations for a variety of purposes. Generally speaking, affirmations are used to reprogram the subconscious mind, to encourage us to believe certain things about ourselves or about the world and our place within it. They are also used to help us create the reality we want—often in terms of making (or attracting) wealth, love, beauty, and happiness.

According to Walter E. Jacobson, M.D., there is value in affirmations of this nature, because our subconscious mind plays a major role in the actualization of our lives and the manifestation of our desires. What we believe about ourselves at a subconscious level, he says, can have a significant impact on the outcome of events.

At the simplest level, when we feel good about ourselves and have a positive attitude, our lives tend to run smoothly. Proponents of the “law of attraction” often refer to this as raising our vibration such that when our vibration is positive, positive things—such as financial abundance, love, and renewed health—are magnetically drawn to us.

You can sign up HERE to receive the BusyGal Bi-Weekly Affirmation Inspiration in Your Inbox.

A Second Chance in the Second Chapter of Life

by Felicia M. Lopes
Twitter:  @TheBusyGal
LinkedIn:  https://www.linkedin.com/in/feliciamlopes/

There are times that your life changes suddenly.  At those time I feel like my stomach kisses my backbone and my hands start itching and aching like crazy!  I can still remember my life going into total upheaval mode when I was told unceremoniously by my boss 4 years almost to the day that I’d been hired at my job, “I’m sorry, but you’re fired!”  


A few days ago, those same feelings came rushing back at me like an avalanche as I sat in Starbucks drinking my favorite coffee, scrolling through my iPhone, when Jennifer Lopez’s new film, which is coming out this Holiday Season, came up on my news feed.  It looks hysterically funny (that’s code for I can’t wait to see it!), because as a women, now in hermid-50s, that moment in 2006 when I was 42, utterly changed my life!  I still wince from the financial aftermath — the sting of losing my job — remembering it so clearly as if it were yesterday, because it was the start of a Herculean uphill financial battle that lasted many years!

Check out the trailer below and see if it doesn’t resonate with you:

SECOND ACT Trailer (2018)

Getting back to my story.  Apparently the Executive Board had lost their contract, so, through no fault of my own, I was laid off!  As most people do after a job lay off, you start marketing yourself furiously so that you can get another job — any job to pay the bills, especially if you live in Forest Hills, Queens (NYC) where I lived at the time, and where my rent for my 2 Bedroom apartment was over $2800 a month! 

I’m a “glass is half full kind of gal”, so to tell you the truth, I was actually kind of excited and hopeful about the prospect of finding something new.  As I have a Masters from Columbia University which I’d earned only 7 years previous to that time period in my life, I figured that it would take me no more than 3-6 months to find another position.  

Sister… How wrong I was! 

To this date… I have NEVER been able to get another permanent full-time job with benefits!  I physically have documented that since 2006, I have sent out well over 2500 resumes to employers for positions for which I am absolutely qualified.  I was interviewed several times for high level positions in NYC and even called back for additional follow-up interviews at several companies – a few up to 5 times!  But every single time I was informed a few weeks later, that they’d hired someone else for the job via a letter like this…

Dear Felicia,
Thank you so much for sending us your resume and cover letter.  We enjoyed meeting you, but we regret to inform you that we are moving forward with another qualified candidate… yada, yada, yada, yada, ya ….  

You get the drift!

The ultimate humiliation came when I was told “off the record” by a well meaning head hunter, that my problem was that those hiring  want to hire people younger than me, because I reminded them of … wait for it… their “Mom” as I was now 46!  

Can you just image being told that!?!

It took me a long while, but I finally woke up and realized a truth.

The only way to guarantee income into my household, was to be in business for myself!

So after much prayer, reflection, research and re-education (I call it PrR&R), I bootstrapped my own business and I vowed to make three essential changes to my life. 

Change #1:  Develop A Positive Mental Attitude Reading Regimen

I began by putting myself on a reading regimen to “brainwash” or rather “brain flush” the negative that had permeated and manifested itself into my life up until that point.  I started reading classic positive mental attitude books like Think and Grow Rich, by Napoleon Hill, The Power of Positive Thinking, by Norman Vincent Peal, and Dale Carnegie’s How To Win Friends and Influence People.  I devoured books by successful female writers such as, Arianna Huffington’s Thrive, Fearless and Free, by Wendy Sachs, Answers Unleashed by Olympia LePoint, Womenomics, by Claire Shipman and Katty Kay, and Goddess on the Go by Leora Edut.  Ultimately, I set reading goals for myself so that I can finish at least one book every 2 weeks. 

Change #2:  Hang With and Listen to Successful Business Owners 

Additionally, as I build my business I know that the more I listen to successful people who’ve built fantastic businesses of their own, the better I become at my business.  I listen to podcasts like  The Big Shift, The Marie Forleo Podcast, Oprah’s Super Soul Conversations, and She Did It Her Way because I need the inspiration to keep on keeping on!  Additionally, I schedule into my calendar, local, regional and national meetings and conferences to go to, where I can meet  successful people and associate with them.  This way I can model their success habits into my own business. 

Change #3:  Focus on the Spiritual 

Lastly I started focusing more on the spiritual needs of my life by becoming more grateful and thankful.  I remember when this epiphany occurred.  I was sitting in my basement apartment in Santa Monica.  I had just moved there, I had no money in the bank, and I had no job.  Real inspirational success story there, right?!  What’s crazy is that I woke up and I heard God, speak to my heart and I realized that though I had nothing in the bank, I had a roof over my head, food in my belly (not one day did I go hungry) and clothes on my back – and stylish clothing at that!  Though I had no job lined up, I had hope and good prospects that some how or some way soon, He would provide for me.  I started saying to friends – tongue in cheek, “God is letting me ‘suffer’ in style while living in Santa Monica” – which is one of the most expensive areas of the country to call home! 

As I continue to build my business – now in my hometown of Dallas, Texas (that’s a whole other story for another time!) – I have come to realize that I am not alone as a middle aged female business owner.  According to New York Times writer Kerry Hannon’s 10/3/2017 Article, which is absolutely worth a read, check it out HERE, “in 2016, there were an estimated 11.3 million women-owned businesses in the United States — a 45 percent increase since 2007, according to the 2016 State of Women-Owned Businesses Report from American Express.”  The article goes on to state,…

“Female entrepreneurs, particularly those over age 50, are igniting intergenerational entrepreneurship partnerships and collaborations among women of all ages,” said Elizabeth Isele, founder and chief executive of the Global Institute for Experienced Entrepreneurship. “Intergenerational partnerships between women dispel age-related stereotypes and build strong bonds across age, race and ethnicity in our increasingly diverse workplaces,” Ms. Isele said.”

If you fit into this demographic – being a a women who wants to start your own business and you’re in your 2nd or even 3rd chapter of life being in your 40’s, 50’s, 60’s or even 70’s – take a minute to ask yourself and answer these 3 questions: 

  • When you were a young girl, lying in your backyard looking up at the stars in the sky, did you imaging living the way you are living now? 
  • Is your Income Circle as large as your Dream Circle? 
  • Can you honestly state that you are happy and financially secure with where you are in life at this stage of life? 

I believe that all Women Over 40, 50, 60 or even 70 need a second chance because 9 times out of 10, most of us did not “get it right” in our 20s and 30s and we aren’t necessarily where we dreamed we’d be at this age.

If all your answers are YES to the questions above…  then “Hooray for you!!!!  You got it right in your 20s and 30s!!”  But I bet, 90% of you have answered, NO.  

So please for your sake and for your sanity, consider starting your own business and push hard for your own dreams!  I know I did it, and though it is one of the most difficult things I’ve ever done, it is also the BEST thing I’d ever done because…

My business became my second chance in my second chapter of life and it can also be that for you!

Felicia Lopes trains and empowers Women Over 40 who want to start businesses and become entrepreneurs nationwide through her robust online learning management system which features 3 Curriculum, 8 Core Courses, and over 70 individual classes (or modules).  Join her this coming 12/20/2018 for her webinar — Cultivating the Entrepreneurial Mindset where she will walk you through the minefields and  mental hurdles most Adults Over 40 face when launching a new business.  Register here to attend this information packed webinar.

True Beauty

Take Action

Inferiority

Be Anxious For Nothing

Look Ahead!

NOW Is The Right Time!