If you’re over 50 and have recently been laid off, the idea of starting your own business might feel overwhelming. Maybe even impossible. You might be wondering if you even have the energy to build something from the ground up! Or, if you can adapt to a rapidly changing market, or if your tech skills are strong enough to compete with younger entrepreneurs who seem to have an effortless grasp on digital tools.
Well, I’m here to tell you that as an over 50 solopreneur, your age and experience are not obstacles. In fact, they’re your greatest strengths. That’s because you’re not someone who’s “starting over,” you’re actually starting ahead!
Remember, you’ve spent decades honing your expertise, solving organizations’ most complex problems, and building relationships and strong networks. You know how to navigate challenges, communicate effectively, and bring real value to the table.
These aren’t just “employee skills,” they’re the foundation of a successful solopreneur journey. While others are still learning the ropes, you already have the wisdom, credibility, and industry knowledge that clients and customers need and trust.
That’s why, rather than seeing your age as a barrier, recognize it as your competitive edge. The business world needs what you have to offer, and this could be the perfect time to step into something that gives you both freedom and fulfillment.
Let’s look a little deeper at exactly how those of us over 50 have an Age Advantage.
You have decades of experience that businesses and clients need.
As an over 50 professional, you’ve spent years (or decades) developing industry expertise, problem-solving skills, and a deep understanding of how businesses operate. That knowledge is valuable, whether as a consultant, coach, freelancer, or service provider. Many businesses would rather pay a seasoned professional to help them navigate challenges than take a risk on someone inexperienced.
Example: A 55-year-old former corporate HR director launched a solopreneur career as a workplace culture consultant, helping mid-sized companies improve employee retention and engagement. Her expertise is in high demand because companies frequently struggle with turnover, and her years in HR give her an insider’s perspective that younger consultants lack.
Your professional network is bigger and stronger than you think.
One of the hardest things for young solopreneurs is building credibility and finding clients. But you? You already have an established network of former colleagues, clients, vendors, and industry contacts who trust you.
Instead of cold-calling strangers, you can leverage existing relationships to land your first clients. A simple LinkedIn post announcing your new venture or reaching out to past colleagues could lead to immediate business opportunities.
Example: A 52-year-old laid-off marketing executive used LinkedIn to announce her new fractional CMO services (part-time Chief Marketing Officer consulting). Within weeks, she secured two contracts: one from a former colleague who needed marketing strategy help for their startup.
You have problem-solving skills that only come with experience.
Young entrepreneurs may have fresh ideas, but they often lack the ability to navigate unexpected challenges. You’ve spent years handling crises, managing projects, and adapting to changes in your industry over long periods of time. That ability to think critically and pivot when necessary is a huge asset as a business owner.
“Older people have had decades to build the business, leadership, and problem-solving chops that help a startup succeed. And while they may be less tapped into certain consumer trends, especially around the habits of the young, they may know quite a bit more about other business opportunities,” according to Kellogg Insight.
Example: A 58-year-old former finance director started a business advising small companies on financial strategy and budgeting. His ability to troubleshoot and anticipate financial risks makes him indispensable to business owners who lack that level of financial expertise.
You understand how to build relationships and communicate professionally.
Good business isn’t just about having a great product or service, it’s about relationships. Unlike younger professionals who may struggle with business communication and client management, you already have decades of experience negotiating, leading teams, and handling clients professionally. This makes you more likely to retain customers and build long-term business relationships, because it’s second nature to you!
Example: A 53-year-old former IT project manager started a tech consulting business and stood out because he was able to clearly explain complex technology to non-technical clients, something many younger IT professionals struggle with.
You’re in control of your career–no more layoffs.
One of the most frustrating things about being laid off in your 50s is the job market itself. It’s well known that professionals in this age group face longer job searches, age bias, and fewer high-paying opportunities. But solopreneurship allows you to bypass those barriers. You no longer have to rely on a company to determine your worth or security; you’re in control of your income, career path, and future.
Example: A 60-year-old corporate training professional who struggled to get hired after a layoff decided to create her own leadership development courses. She now sells her programs to companies on a contract basis, earning more than she did in her corporate job!
Remember: Being over 50 is an asset, not a liability
If you’re over 50 and considering solopreneurship, know this: your experience, network, and skills give you a massive competitive advantage. The key is to recognize that you’re not starting from zero, you’re building on a solid foundation you’ve already built.
If you’ve been laid off and are wondering what’s next, instead of looking for another job, what if you became the boss?
Would you like to learn how to use your valuable skills and expertise to create a profitable business? Schedule a FREE solopreneur consultation with us, today!