Are You Too Old to Start a Business at 50? Think Again.

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Feeling like you’re too old to start a business at 50? It’s not.

And I’m going to prove it to you.

The truth is, your 50s might just be the best time to start a business. You’ve got the skills, experience, and wisdom to turn your passions into profits.

Let’s break it down and show you how to get started.

Why Starting a Business at 50 Is a Smart Move

First, bust the myth. Did you know the average age of a successful entrepreneur is 41.9 years old? Even better, people over 50 often succeed faster because they bring experience, networks, and resourcefulness to the table.

If you’re looking for proof, here’s a quick list of people who crushed it after 50:

• Bernie Marcus: Co-founded Home Depot at 50 and built it into a retail giant.

• Julie Wainwright: Founded The RealReal at 53, overcoming setbacks to build a billion-dollar luxury consignment business.

• Leslie Bradford-Scott: Started Walton Wood Farm at 54, growing it into a multimillion-dollar bath and body product business from her home.

• Pieter Levels: Is 50+ Created Remote OK and built a $2.9 million-per-year remote job board with no employees.

• Colonel Sanders: Launched KFC at 65, turning his fried chicken recipe into a global franchise.

Age isn’t a barrier—it’s your secret recipe, your “11 herbs and spices” (sorry, I couldn’t resist).

If you’re still not convinced, I don’t blame you…

How I Overcame Doubts

I believed the media and society just like everyone else.

I thought I missed my window and needed to gut it out until I retired. And then maybe pursue something I really wanted to do

But thankfully, by educating myself and hanging around men who completely changed careers in their forties, I learned it was possible.

I started to believe in and learn all I could about online business.

I couldn’t read books fast enough or ask enough questions.

Here I am, over ten years, triple the income, and 1000 times the freedom later.

And I did it with three kids, a mortgage, bills, debt, a VERY skeptical wife, and any other excuse I told myself.

It wasn’t easy to stay positive, especially with all the doubters…

But I did it.

You can do it too.

And my small amount of success pales in comparison to the entrepreneurs I showed you above.

This is real, and you can do it.

So, enough about me, let’s get to work on your success story…

Step 1: Discover Your Business Idea

Starting a business at 50 begins with identifying what makes you unique. You don’t have to reinvent the wheel.

Take 15 minutes and write down answers to these questions:

1. What do I already know or love doing? (Think skills, hobbies, or career expertise.)

2. Who could benefit from this knowledge? (Your target audience.)

3. What problem can I solve for them? (The foundation of a business idea.)

For example:

• Love writing? Start a blogletter that monetizes your expertise by teaching others.

• Good with tools? Offer consulting or DIY workshops.

• Have a knack for organizing? Launch a consulting service that helps others declutter their lives.

Step 2: Use AI to Brainstorm Ideas

AI tools like ChatGPT are incredible for generating business ideas tailored to your experience.

Head over to ChatGPT and try this prompt:

"I am 50 years old with [insert your skills and experiences]. I want to start a business that aligns with my passions and solves real problems. Please suggest 5 business ideas that are easy to start, scalable, and leverage AI for efficiency."

Review the results, pick the one that gets the juices flowing, and write down the first three steps to bring it to life.

Side note: I have a much more thorough prompt for you in the Gen X AI Revolution post.

Step 3: Take a Small First Step

Action beats overthinking. Here’s something simple you can do today:

• Explore business ideas: Use Google, ChatGPT, or my favorite research tool, Perplexity ($), to research niches that interest you.

• Write down three potential services or products you could offer based on your experience.

• Set up a free tool: Open a Beehiiv account to start a newsletter or create a LinkedIn post offering your expertise.

Build Momentum Every Day

Starting a business at 50 isn’t about giant leaps—it’s about consistent action.

Here’s a simple checklist to keep you moving forward:

• Dedicate 30 minutes daily to your business idea.

• Learn one new skill each week (writing, marketing, or using AI).

• Connect with one person in your network for feedback or collaboration.

• Celebrate small wins to stay motivated.

A Song to Keep You Going

When I began my journey into self-employment, this song was my rallying cry.

People did say I was crazy; they did give me all kinds of warnings and they did say I was dreaming.

But I knew in my gut that I was doing the right thing for me.

And they didn’t know what I knew.

All I would do was bite my tongue, smile, and tell myself that the only thing that mattered was what I knew and believed.

What’s Next?

If you’re over 50, you’re not out of time—you’re exactly where you need to be to start. All that’s left is to take the first step.

• Ready to start? Launch your own blogletter—a simple way to share your expertise and build an audience. Click here to get started.

• Need ideas? Write down three potential business ideas today and use AI to refine them.

• Want support? Hit reply and share your biggest challenge—I’m here to help.

This is your moment. Let’s make it happen.

Have a good one,

Corey