How to better support entrepreneurs over the age of 50
By Orycia Karpa
Entrepreneurship isn’t for everyone. When starting a business later in life, many people don’t realize the process comes with its own set of challenges. Advisors play a key part in this process because they can help guide and educate aspiring entrepreneurs.
Wendy Mayhew’s book WISER: The Definitive Guide to Starting a Business After the Age of 50 goes step-by-step into this process and provides advisors with the necessary tools and information they need to help these people.
With over 40 years’ experience in business and entrepreneurship, Mayhew’s book provides information on topics such as how to get the most out of working with an advisor, how to build confidence when networking, and marketing recommendations for both traditional and social media.
She strongly encourages entrepreneurs to work with advisors so they can explore and find out whether or not entrepreneurship is for them. Advisors can recommend Wendy’s book as a way to help guide entrepreneurs through this decision.
“There are many people that will rush into becoming an entrepreneur because they’ve been laid off, or they haven’t saved enough money,” says Mayhew.
Entrepreneurs over the age of 50 is an untapped market, says Mayhew. They are the newest and fastest growing group of entrepreneurs, but they are also the most under-supported and under-served.
“The biggest challenge for this group is the lack of support and attention they receive. There is a stigma among the entrepreneurial community that they are never going to amount to anything or be taken seriously.”
When the COVID-19 pandemic came along, these challenges were heightened.
“Whenever there are layoffs, people over the age of 50 are the hardest ones hit. It also makes it difficult for them to find a job.”
This opens the doors for those in need of a business opportunity later in life to explore entrepreneurship.
Her goal to support and guide entrepreneurs over the age of 50 is giving them the opportunity and attention they deserve.
“I advocate for this group because no one wants to take note of us.”
One way Mayhew supports these entrepreneurs is through The 50 over 50 Awards. Over the past four years, this award has recognized over 150 entrepreneurs over the age of 50.
“I started these awards so people can understand and see what so many entrepreneurs are doing.”
This book will provide new entrepreneurs over the age of 50 with the information and guidance they need to be successful in their business.
To learn more about Wendy and to purchase her book, visit https://www.wise-seniorsinbusiness.com/wiserguide/.