There is a growing trend these days for women over 60 to start their own businesses. This isn’t just about financial security, although often this is what prompts the move; many women are also keen to explore passions and share their knowledge and experience.
Amanda Bennetts is an Australian executive who helps guide older women to go down this entrepreneurial path. As a Director of The CEO Institute, Chairman and CEO of a fashion brand, Director of various ventures, and published author, Bennetts has extensive self employment experience.
She sees many reasons why older women are at the right stage of life to start their own businesses. “Women over 60 years of age are in the best position to do this. They generally have their life sorted, no small kids to look after, and are financially smart and secure,” Amanda says.
“Plus, since our brains get more creative each day as we age, this makes our ability to problem solve and think outside the square easier. Older women also tend to have a very good work ethic. All these traits are needed to be a successful business owner.”
There are lots of potential upsides to starting your own venture. Bennetts says, “You get to use the knowledge and creativity you have earned over the years. Doing so builds your self-esteem and helps to keep you passionate.”
Bennetts notes, too, that she sees time and time again one common reason why many women over sixty become entrepreneurs. “Mainly it’s seeing a problem, and knowing they have a way (that’s different to what others are offering) to fix it.”
Of course, as with anyone getting into business, there are challenges to be aware of. “Older entrepreneurs think they have to understand everything, and be able to do everything. Technology, in particular, is the biggest hurdle for most. But women need to realise they are quite capable of getting others to do the things they’re not good at. They also need to develop the confidence to guide others to their vision, even if they don’t know exactly how it is done.”
There are ways around these types of challenges, though. “Stop being arrogant,” advices Bennetts. “You can’t do everything, no matter how many courses you attend. Start realising that the donkey work is for someone else. You have the vision, you have the power, and it’s your turn!”
When asked if there are any particular fields where 60-plus women are excelling, Bennetts identifies the healing arena. “This area seems to be attracting a lot of mature women, mainly because they understand that self-love is really the foundation of a good life, and many have had to learn this the hard way. They’re very good at working in this field because they’re nurturing and good listeners, too.
“Unfortunately, though, that personality trait can conflict with the marketing of their business. Many women end up doing what they love but not making a lot of money. That’s one thing I want to change.”
To make your entrepreneurial dreams come true, it’s important to get support, both professionally, from coaches or mentors who align well, and from family and friends. However, Bennetts says that while this is amazing to have, many mature women actually think they need more support than they actually do. Furthermore, there can be conflicts when women go after their goals and get kickback from others because priorities change. “It doesn’t sound fair,” says Bennetts, “but it’s a common occurrence.”
When it comes to educating yourself on business processes and related matters, find options which suit your personal level of skills and knowledge, and the type of business you want to run. “Horses for courses,” says Bennetts. “First identify what you want to achieve, then what you have to offer and enjoy doing, then what’s missing. After this, decide whether you should bother to learn it or get someone else in to do it for you. Remember, too, that confidence doesn’t come from learning, it comes from doing.”
Mindset is something else to focus on. “It’s everything,” notes Bennetts. “Believe business success could be possible for you. If you don’t, you’ll find a way to make that your reality. But, if you think it could be possible, you’ll work with that and through trial and error will make it happen.”
If you’re interested in completing a business course to make your entrepreneurial dreams a reality, check out www.TheSimpleBusiness.Global/courses/SimpleBusinessforBBW. This is an online course run by Amanda Bennetts. Readers can take advantage of a $2000 discount off the course by using the code MOVEON.
As for coaching, she’s close to capacity, but Amanda can take on two new clients at the moment. For a 12-month program, the cost is $480 per week. Note that clients must complete the aforementioned online course.