The Allure of Entrepreneurship for Seasoned Professionals

Embracing Entrepreneurship in Later Years

Entrepreneurship, often associated with the vigor of youth, is proving to be an increasingly attractive avenue for older adults. The landscape is evolving, with individuals aged 55 to 64 constituting a substantial 22.8% of entrepreneurs in 2021, as reported by the Ewing Marion Kauffman Foundation. Beyond stereotypes, the Global Entrepreneurship Monitor notes a rising trend of business ventures initiated by adults in their 40s and beyond across the U.S., U.K., France, and Germany. This shift challenges the notion that entrepreneurship is exclusively a young person’s game.

Pioneering Trends in Later-Life Entrepreneurship

Entrepreneurship’s Demographic Shift

Contrary to common perceptions, the entrepreneurial sphere is no longer dominated solely by the younger demographic. Statistics reveal a significant uptick in businesses founded by individuals aged 45 and over. This demographic shift signifies a departure from the conventional narrative, emphasizing the growing allure of entrepreneurship for those with a wealth of life experience.

Exploring Entrepreneurship Trends Across Borders

Analyzing the Global Entrepreneurship Monitor’s findings, it becomes evident that the surge in later-life entrepreneurship is not confined to a specific region. The U.S., U.K., France, and Germany collectively witness a transformative wave, where older adults are actively contributing to the entrepreneurial landscape. This international perspective challenges preconceived notions about the age limitations of venturing into business.

Motivations and Opportunities

Extended Careers and Changing Priorities

As life expectancy increases, so does the length of one’s career. By 2034, individuals aged 65 and above are projected to outnumber those aged 18 and below in the U.S., reshaping traditional career trajectories. The 40-year linear career is becoming obsolete, giving rise to more flexible, non-linear paths. For older adults, entrepreneurship emerges as a compelling option when priorities shift towards flexibility, fulfillment, and potential caregiving responsibilities.

Experience: A Precious Asset

Older professionals, armed with a treasure trove of skills and experiences, possess a distinct advantage when venturing into entrepreneurship. Financial stability, a deep understanding of personal strengths and weaknesses, and an extensive professional network contribute to the viability of starting a business later in life. This unique set of assets makes the leap into entrepreneurship a calculated and strategic move.

Strategizing Entrepreneurial Ventures in Later Years

Planning for entrepreneurship in the later stages of one’s career involves a meticulous approach. Crafting a strategic business plan that aligns with personal values, skills, and market needs is paramount. Furthermore, recognizing the potential for a phased entry into entrepreneurship, such as through a side hustle, can serve as a prudent risk mitigation strategy.

The Innovation Advantage

Innovation in the Later Years

Research suggests that entrepreneurs who embark on their journey later in life (50 years and above) play a pivotal role in introducing groundbreaking innovations. The Research Policy journal outlines that older founders are more inclined to disrupt markets by introducing novel products and services. With every additional decade, the likelihood of introducing market novelties increases by up to 30%, highlighting the innovation potential inherent in later-career entrepreneurs.

Fostering a Culture of Innovation

Encouraging innovation in later-life entrepreneurship involves cultivating a workplace culture that values creativity and welcomes diverse perspectives. Establishing mentorship programs that connect seasoned entrepreneurs with aspiring innovators can further enhance the exchange of ideas, fostering an environment conducive to groundbreaking advancements.

Entrepreneurship vs. Corporate Jobs

Challenges in Corporate Sectors

Age discrimination remains a prevalent issue in corporate environments, with over 40% of employees above 40 reporting such experiences in the last three years. This discrimination, coupled with the inherent instability of corporate jobs—underscored by mass layoffs in recent years—positions entrepreneurship as an appealing alternative.

Seeking Meaningful Work and Autonomy

AARP’s survey indicates that job seekers prioritize meaningful work, with 90% emphasizing the importance of purpose in their employment. As traditional job security diminishes, the autonomy and flexibility offered by entrepreneurship become increasingly attractive, providing a pathway to meaningful work in the later stages of one’s career.

Entrepreneurial Resilience in the Face of Economic Uncertainty

Navigating the unpredictable landscape of entrepreneurship requires a resilient mindset. Unlike corporate jobs, where layoffs are commonplace, entrepreneurs have the autonomy to pivot, adapt, and innovate in response to economic challenges. This adaptability fosters a sense of control and resilience, crucial attributes in an ever-evolving business landscape.

Embracing Entrepreneurship at Any Career Stage

Regardless of career stage or proximity to retirement, the call of entrepreneurship beckons. Crafting a well-defined plan, setting clear goals, and taking measured steps can mitigate risks while leveraging the wealth of experience, skills, and connections accumulated over the years.

Career Steps Are Interconnected – Wrong Moves Are Not Final Moves

By Chris Fontanella

It sounds a bit mystical, but all steps taken on your career journey are interconnected. They are on a continuum: last steps on one road are connected to the first steps on another; ground already traversed leads to the new ground you are about to travel. In other words, every step, and misstep, has led you to the very place you find yourself in your career. The good news: “Wrong” moves never have to be final moves.

Missteps are Not Wrong Steps

Every person on a career journey has taken a step or two in the wrong direction. Some of us have even made U-Turns. But taking a so-called “wrong move” doesn’t preclude you from making another move that can get you back on track or where you need to be.

Not everyone knows from an early age what they are meant to be or do for a living. Most fumble about until they discover their calling, even scrapping one vocational pursuit for another. As you can see from these successful U-turners, if you find yourself on a changing path, you are in good company.

Dave Phinney, best known for his Orin Swift and The Prisoner wine labels, initially pursued a career as public defender, before deciding to be a vintner hell-bent on disrupting a profession known for its zealots of tradition. He messed with traditional wine-making formulas and produced an affordable wine by crafting a blend and slapping an artistic label on the bottle. He eventually sold The Prisoner to Constellation Brands for $285 million and Orin Swift to E & J Gallo for $300 million.

Jorge Mario Bergoglio served as a janitor during the day and a bouncer in the evening. He also trained to be a chemist and worked as a technician in a food service laboratory. But he didn’t feel fulfilled until he joined the Jesuits and was ordained as a Catholic priest. In 2013, Pope Francis was ratified as the head of the Catholic Church.

Tom Monaghan was sent to an orphanage at an early age. Later he attended seminary with plans to be a priest, but he was expelled. A stint in the marines followed, but ended with him discharged. Soon thereafter, he and his brother borrowed money to buy a pizza store called DomiNick’s. He changed the name a bit, tweaked the menu and decided to focus on pizza deliveries to college campuses. Domino’s now generates revenues over $4.5 billion.

The commonality amongst these individuals is that each headed in one direction and then, for whatever reasons, charted a new course. They serve as a reminder that a change in direction—making a “right” move after a “wrong” one—might be the best decision you ever make. What matters is your response to a self-perceived “wrong move.” As Stephen R. Covey says in his book The 7 Habits of Highly Effective People, “Our response to any mistake affects the quality of the next moment.” In other words, do not let your next career move be governed by moves already made.  They are simply steps you needed to take to eventually get you where you are supposed to be. It’s possible you headed in the wrong direction to find the road you were actually meant to explore.

6 Questions to Determine if a New Direction is Needed

As I have noted, it is not uncommon to lose your sense of direction while on your career journey. The following questions can help you make sense of it all and recapture your sense of direction:

  1. Are you a prisoner of your own vocational biases? Said another way, are you open to new directions? If a new opportunity captures your attention—maybe even one unrelated to the career you’ve been pursuing—would you forsake what you’ve been doing to explore it? Do not be so wedded to your preconceived notions about your career that you fail to see the golden opportunity right before your eyes. I spent nine years studying for the ministry, but for personal reasons I decided no longer to pursue that vocation. When an amazing opportunity within the staffing industry presented itself, I explored it. Thirty years later, I have been finding jobs for people.
  1. Have your circumstances changed and are you willing to adapt? You will find over the course of your career that circumstances will change, whether they originate at home or at the office or in the world at large. Changes in one’s personal life, job relocations, company acquisitions, and more, are quite common. Events like these can cause careers to get off track unless, as the employee, you are willing to deviate from the original course. By failing to adapt, a dead end may be in your future.
  1. Does your job offer you a sense of purpose? Does what you do for a living excite you? Does it provide you with a reason for being? If not, something is amiss and you may need to consider alternative paths to identify your true calling
  1. Are you a fan of the company you work for? It is hard to work for an organization that has a philosophy you do not agree with. In other words, don’t accept a job with a plastic bottle manufacturer if you want to be the king of recycling.
  1. Do you feel valued by your employer? Some organizations fail to recognize the uniqueness of its employees. Employers who value their own individuality promote it in others. Find employment that allows you to be you. Any job that does not allow you to be you is not the job for you.
  1. Are changes taking place where you work? Maybe there’s been a managerial shake-up or there’s scuttlebutt about the company being acquired. Maybe the workforce has been slashed by 30%. These and other similar events give cause to consider how you may be impacted. Changes like these may create new possibilities for you within the company or provide reasons to explore new opportunities outside the company. It’s up to you to recognize this.

One Step Backward Leads to Two Steps Forward

Don’t overthink wrong career moves. They don’t doom you to a lousy life of employment. Instead of viewing a misstep as a final move, look at it as a last step on one road that has connected you to the first step on another. It’s never too late to take that first new step.

Chris Fontanella is the founder of Encore Professionals Group, a professional services firm specializing in the identification and placement of accounting and finance candidates in temporary and full-time positions. He previously served as Division Director for Robert Half International and Client Service Director for Resources Global Professionals. Prior to entering the staffing industry, Fontanella spent years studying theology and preparing for ministry, having received his bachelor of arts degree in New Testament Studies from Oral Roberts University, and his master of arts degree in Theological Studies from Fuller Theological Seminary. He is the author of Jump Start Your Career: Ten Tips to Get You Going, and Tune-Up Your Career: Tips & Cautions for Peak Performance in the Workplace. Learn more at


Raseshkumar Shah Discusses Why Business Professionals Should Give Back to Their Local Community

Originally from Mumbai, India, Raseshkumar Shah relocated to London in the United Kingdom at the age of 17 to study and make a better living. However, his plans went awry when, through a series of unfortunate occurrences, he could no longer finance his education. As a consequence, Raseshkumar Shah had to drop out of school. As a teenager in a foreign land and a self-described “broke, lonely, insecure, Asian university drop-out from a bankrupt family,” he wrote in his diary that he wanted to be a millionaire by the age of 30. In the meantime, he set to work supporting himself with a series of unskilled labour jobs, including working for restaurants and cleaning companies. 

However, Raseshkumar never lost sight of that dream he inscribed so explicitly into his diary. By the time he had reached the age of 30, Raseshkumar Shah was, in fact, a millionaire, having created a a very successful consulting business. Ironically, in achieving everything he’d resolved to as a teenager, Raseshkumar learned that he was wrong about almost everything he thought he knew about business, as well as life in general. Although he made a great deal of mistakes on his way to achieving success, he credits those missteps with teaching him how the world actually works. Now, as a wealthy, well-rounded, and productive member of society, Raseshkumar Shah finally feels that he knows how to attain fulfilment, love, and success, as well as learning exactly why those things matter and what those words actually mean. 

What do you do at your company?

I’m a business consultant, working at the forefront of social innovation to put brands at the heart of new trends and conversations. My job runs the gamut from digital marketing to to social media consultation to core process analysis. I’m known as an expert in many facets of the corporate world.

What was the inspiration behind your business?

I am guided in my work by embracing the modern world of technology. By gleaning knowledge from the various popular social media platforms, I can see where the future of business is headed, and that has informed the way I run my consulting business. As you can well imagine, I don’t want to give away too, too much about that, or else my competitors may learn the secret to my successful practices. 

What defines your way of doing business?

If I had to pick one phrase, it would be ‘results-oriented.’ I also make sure to conduct myself with the utmost integrity when dealing with clients and colleagues.

Can you share some keys to being productive?

For me, the biggest key to productivity is finding a way to keep my mind clear. I achieve this by cultivating the important relationships in my life and staying focused on my short-term and long-term goals.

What is one long-term goal you have for your career?

Although this is something of a vague answer, I would like to improve life for as many people as possible around the world.

How do you measure success?

Success can’t be measured. It’s a relative term. It means different things to different people. While some—if not the vast majority—might measure it by their bank account, I am not one of those. I suppose if I have to give an answer, it would be by the satisfaction of my clients, the health of my company, and my own happiness, as well as that of my family and friends.

What is the most valuable lesson you have learned throughout the course of your career?

Taking risks and making mistakes is the only real way to learn anything valuable.

Share some of your favorite things to do outside of work.

I love hiking. I love taking adventurous trips around the world to locations I have never been to before. In my spare time, I try to help the community as best I can.

How would your colleagues describe you?

I think my colleagues would describe me as a positive and fun-loving guy!

How do you maintain a solid work life balance? 

Before taking on a new client or a new project, I make a plan and stick to it no matter what. I also work very hard to manage expectations from all angles. Additionally, I make sure to get at least seven hours of sleep each night in order to be well-rested and effective.

What is one piece of technology that helps you the most in your daily routine?

I’m sure this is a popular answer, but it has to be my smartphone. It’s how I communicate with everyone. I also conduct a gigantic amount of business through it. Frankly, I would be lost without it.

What has been the hardest obstacle you’ve overcome? 

At one point, I had lost everything because of one wrong decision I made in my youth. But with support from my family and friends, as well as hard work and dedication, I have long since recovered from that and regained my footing. Overcoming obstacles is not easy, but it can be done by staying positive, working hard, and trusting in God.

What is one piece of advice that you have never forgotten?

When I was young, my parents always told me to focus on one thing at a time! “Do one thing, do it very well, and then move on to the next item of business,” they would say. I’ve never forgotten that advice.

What is one piece of advice you would like to leave our readers with?

You got only get one chance at life. Live it to the fullest. Trust your instincts. Make sure that you keep the people who are important to you close by for love and support.

What is a Career Path & How to Make One

You are graduating from high school. Your years of burning the midnight oil will be about to pay off. But have you ever wondered what career path you want to take is? Not yet? You still have enough time to think about it, so there is nothing to worry about. 

But as early as now, you should know what you want to be in the future. If you cannot still figure out your ambition, have some time to reflect on your interest and passion. It is worth it. 

But what is a career path? What are the common examples of career paths? How to have a successful career path? In this comprehensive career pathing guide, you will know them all. Let’s get started! 

What is a Career Path? 

You have participated a career counseling recently. You have encountered a “career path” throughout the seminar. Maybe, you are now wondering what a career path is. Well, it is a series of jobs that will help you make a big goal happen. 

Suppose you want to be a principal in a public or private school. Before you turn that objective into a reality, you need to start as a teacher. While you are teaching, you have to exert effort to improve and level up your administrative credentials. You have to attend tons of training and seminars. You also have to continue studying. Once you have completed your MA, enroll in a Ph.D. course near you. 

Yes, the process is exhausting, overwhelming, and expensive. But all of your efforts will lead you to your biggest goal. 

Changing careers is part of the process. It is normal. Sometimes, you may not take another step on your career ladder, which is all right. You may feel negative about your achievement. You are only human, after all. As long as you stay committed and persistent, everything will be possible in God’s perfect time.

What are Examples of Career Paths? 

Have you tried thinking about the career you like? How’s the experience? It is difficult. Let’s make your experience easy, hassle-free, and fun at the same time. Here are some career paths for some fields: 


If you are an extroverted type of person and love to lead, an administration course is right for you. Usually, an administration graduate starts with an administrative assistant position. If you prove your skills and capabilities as a professional, you can get promoted to an executive assistant and an office manager. 


If you are business-minded, you can work in retail. You can begin with a retail sales clerk. With your hard work and patience, you can become an assistant manager, department manager, and store manager. If you are capable enough, advancing to a regional manager career will not be impossible. 

Customer Service 

Do you feel happy and satisfied every time you guide people? If yes, pursuing a career in customer service will be a wise choice you will not regret. Before you reach the highest position in a private company, you need to start from the bottom. But there is nothing to be ashamed of. Every job or position you handle is a great learning experience. Usually, people in customer service start from a representative to a regional sales manager. 

Human Resources 

Hiring or recruiting is a tricky job but fun. Experts say that HR is one of the fastest-growing fields in the US. Studies have suggested that the employment rate of an HR manager is estimated to grow around 7% by 2028. It is faster than the other occupations. That means there are thousands of job openings every year, in other words. Before you can become a director of human resources, you have to work as a human resources assistant. After some time, you will get promoted depending on your skills, enthusiasm, and experience. 


Do you love math? You can excel and succeed in an engineering career. Research has suggested that engineering positions are one of the highest paying jobs in the US. Engineers have a salary of around $91,010, according to the Bureau of Labor Statistics. There are also different specializations to choose from, including mechanical, electrical, civil, and chemical engineering. Whatever your choice is, you can also advance your position. If you are highly dedicated to your job, your promotion from a junior engineer to an engineering consultant will be fast. 

How to Succeed in Your Chosen Career Path? 

Failing is part of your pursuit to your chosen career path. But without learning from every failure you make may lead to another mistake that may affect your self-esteem as a professional. Of course, you want to thrive in your profession. Unfortunately, it will not be as stress-free as you imagine. Here are some tips and tricks you should bear in mind when achieving your ambition in life: 

Be Willing to Learn More 

There is no permanent in this world but change. The job market, for example, is changing rapidly. Without taking any action to advance and learn new skills, you will feel stagnant, cannot compete with others, and feel unhappy with your career. No matter how busy you are with your life, find time to go out of your comfort zone and learn something different. 

Start Creating and Expanding your Network 

While it may not sound necessary at the moment, try to expand your social network. When you want to switch to a different career, job-hopping will never be as complicated as you think. Aside from LinkedIn, create accounts on other social media platforms, including Facebook, Twitter, Instagram, and even YouTube. 

Take a Lateral Move in Your Career Positively 

Many people are afraid of moving sideways or even backward towards their careers. Do not feel that way. Always take a lateral move of your career positively. You will learn new things from it for sure, expanding your professional and personal competencies. Sometimes, taking any risks is worth it. 

Now, what’s your career choice? Maybe, you have one now in your mind. If you are still undecided, do not pressure yourself. Take your time, and you will make the right decision soon.