Is 50 too old to do a startup? Or should I just have a rest...

blog 2021

16 Feb

Turning 50 is a milestone to be sure, but not the one it once was. When I was a kid, people use to retire at this grand old age. Today, it seems you are only halfway to the end and have so much time left, you better have a huge (Telsa size) nest egg or best you be working awhile longer!

So what to do once you reach 50, taper into the end of your career or start something new?

To be frank, this is the dilemma I have been facing for the last little while as I approached my big day. Go for one more shot at a tech start-up for the unicorn payday, or just cruise into a nice lifestyle. Hmmm...

To help me decide if I can be bothered jumping into the entrepreneurship inferno again or I just want to put my feet up a bit, I explored a few different techniques I have learnt over the years. Perhaps some of these tips might help a few others to decide their next steps.

Firstly, I examined my Values. These are not right or wrong values, more how I want to prioritise my time. I base this on Dr Demartini's work but this process goes back to the early days of business coaching in the 1960's. There are seven values in this process: Business, Money, Family, Friends, Health, Education and Spirituality. Put them in order from most important to least important. (Tip: they are all important, but if push comes to shove, which do you choose. e.g. do you not take a business meeting to complete your gym workout or see a friend or visa versa?)

I realised that my Health value has gone WAY up on my priorities recently. I just don't want to give up my exercise and health routine to work more hours. After seeing several friends pass away and become severely ill, I realise how important it is to stay in top shape. I know stress is a big issue in health so I am happy to work hard, but not have excessive pressure.

Another change was my friend's value, which is taking the time to be social and maintain your relationships. This slipped for me in my 40's as I built my business and I really want to focus on this in the coming years. Time to have more fun after two decades of working and studying!

The second activity I did was to spend quite a lot of time meditating on the topic. It seemed to be always on my mind and causing me to be out of flow as I hadn't resolved the decision yet. I'm sure many people reading this would understand the feeling of restlessness that comes with weighing up a big choice.

My thinking on this is to not rush the decision, sit in the discomfort and keep focusing on the solution that is right for you. It will come naturally at the right time as long as you keep sitting with it. I like to focus on it while running or in bed when I first wake up.

Finally, once I had thought about it long enough, I made a decision. Sometimes it's hard to draw a line in the sand, but you got to. You usually know what you really, really want, but sometimes you feel it will hurt others or they will not agree with your decision. Too bad. You have to do what you have to do. Make the choice, write it down and tell people when required.

Once you have your plan in place, man you feel so much better! Lighter, certain and ready for the next challenge. It gives you the inspiration to get working again and you feel in flow.

For me, I am going to focus on my next book, speaking, teaching and coaching. That's what I truly love doing and will leave the next generation of entrepreneurs to build the next big thing. If I can help them do it, awesome! But I'm not going to lead the charge.

I hope that was useful and I would love to hear what you are up to after reaching the big 50.

Regards Andrew

P.S. If you are feeling stuck and uncertain, try a few of these techniques and reach out if you feel a chat might help. I love connecting with like-minded people who are on a quest for their path.

Andrew Ford

Marketing expert Andrew Ford, the founder of Social Star, has discovered the secret of ‘Powerful Branding’. With a fire for unleashing people’s inner brand and developing business models to generate profit from an individual’s passions, Andrew leverages ground-breaking digital and social media marketing techniques to create digital strategies for clients to attract maximum opportunities. Having established a strong name for himself in the field, Andrew blends traditional business techniques with now-necessary tools for entrepreneurs to achieve scale, quality, and influence in their niche. Andrew’s comprehensive business background and qualifications consist of a Bachelor of Business (Marketing) (RMIT 2003), a Graduate Certificate in Management (MBA Executive Program, University of Sydney 2005), and a Masters of Entrepreneurship and Innovation (Swinburne University 2011). Continually on the cutting edge of his own education, Andrew has tested his marketing theories in forums such as the BCG Business Strategy Competition, which he won in 2005 against all Victorian MBA schools, and the Venture Cup Business Plan Competition (Swinburne University 2003), which he won in the Masters category. With experience working at Hewlett-Packard, Sensis (Telstra) and IBM, Andrew also has mentored dozens of junior staffs to help them achieve their professional goals. Meeting and influencing high-profile public figures helped Andrew to realise just how many professionals require more understanding and control of their public brands or appearance, and need help with the skills to use the many amazing free tools at their disposal to generate success. At Social Star, Andrew consults with clients to uncover their personal brand – both where it is today and where it can be tomorrow – and refine and define how that should be displayed in social media in order to attract their perfect target audience. Andrew mentors his clients to rapidly grow their business’ audiences, resulting in larger potential client bases and higher revenue. Applying formulas that integrate over twenty years of Andrew’s business experience and fifteen years of formal business education, Social Star specialises in building clarity and velocity for clients’ brands using the ‘Understand, Build and Leverage’ methodology. ‘Having a Personal Business enables people to have an authentic, congruent connection with their valued clients and partners, using their brand as the bridge,’ says Andrew. ‘I’m highly driven to work with the new breed of entrepreneurs and small business owners – people who have a passion for making the world a better place. Traditional business models are stepping aside as people follow their innermost dreams and my role is to see them operate within their values while creating wealth. Some people think you have to sacrifice what you love to be successful in your business, yet it is actually the opposite. Follow your passion and success will come.’ Lecturing at Swinburne University from 2009 to 2011 on brand dynamics and digital marketing, presenting at numerous conferences, and consulting to hundreds of clients, Andrew has seen his philosophy work that if you follow your unique path, based on your skills, experience, values and goals, you will automatically attract the opportunities you desire and achieve the success you deserve. Living his mantra, Andrew has created a successful business and attracts high-profile clients including musicians, athletes, authors, models, entrepreneurs, professionals and small business owners, helping them find their ‘why’ in their business and fulfilment in their lives. Business for Andrew is more than work, it’s personal. Running a personal business means that he is able to fulfil all of his values rather than separating his life from work. It supports his two boys while providing social opportunities, educational development, fitness opportunities, spiritual fulfilment and many valuable friendships. Social Star has now become the vehicle for Andrew to crystallise his mission in the world, to help people love what they do, supporting his ‘why’, that if more people loved what they did, the world would be a better place.

http://www.andrewford.com.au/

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