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Do you think you’re too old to start a new business? Are you scared to do what you love because you’re feeling insecure about your age?
My guest this week is Michaela Murphy and we’re going to be discussing the unprecedented opportunity that exists for aspiring entrepreneurs over the age of 45.
Michaela is a thought leader on the topic of multi-generational entrepreneurship and the “Experienced Economy.” Her work is changing the negative perception of aging while creating awareness to boost prosperity for all age groups.
Michaela points to data which shows that entrepreneurs get better with age and that creativity actually accelerates as we get older. All the talent, expertise, wisdom and strengths you have accumulated in your lifetime can be packaged into your business idea. These transferable skills never get lost or go to waste.
“If you’re uncomfortable, you’re probably on the right track.” – Michaela Murphy
If you’re holding yourself back from launching a new business because you think you might be too old, you’re not alone. I get dozens of emails every week from people who wonder if it might be too late to follow their dreams.
There’s no such thing as being too old, or too late.
If you’re worried that you might be too old by the time you launch your business, think about the regrets you’ll have if you don’t.
Ask yourself how you would feel 10 years from now if you didn’t start up. Would you regret not doing it? If your answer is yes, then go for it.
It doesn’t matter how long it takes as long as you keep going because every day that you take action will get you closer to your dream. Don’t let anyone’s perception of age, including your own, hold you back.
Here are some of Michaela’s favorite things:
Most Influential Book
Business Super Power
- Storytelling and listening to what’s being said as well as what’s NOT being said.
Most Effective Strategy For Growing Your Business
- Networking and being generous.
Favorite Business Tool or Resource
Most Recent Exciting Adventure
- Going to Washington D.C. and seeing the Broadway show ‘Hamilton’ afterwards. This had a surprising and profound effect on Michaela about the freedoms that Americans are privileged to have and encouraging people to embrace and explore these privileges through entrepreneurship.
Show Highlights
- Did you know the most active and successful group of emerging entrepreneurs in the US are people ages 45 and older?
- Why entrepreneurs over 45 have exponentially greater odds of success.
- If only 24% of the people over 50 that are interested in starting a business – hired just one employee – unemployment in the US would drop to ZERO!
- The reality of “ageism” in the workforce and how to reverse this mentality by participating fully in what Michaela calls “The Experience Economy.”
- The benefits of creating a multi-generational team.
- Why 1 in 4 people are not able, or don’t even want, to retire.
- Shifting to the mindset of entrepreneurship as a way to thrive and pursue your purpose.
- Leveraging partnership as a way to succeed in business vs. going it alone.
- How Michaela found entrepreneurial inspiration via a Broadway musical.
Links for Michaela:
- Senior Entrepreneurship Works
- Michaela’s TEDx talk about Resilience
- The Moth Presents Michaela Murphy: The All-Star Game
- The Moth Presents Michaela Murphy: Eye Spy
- Say hello to Michaela on Facebook Twitter LinkedIn
Mentioned in this episode:
- Athena Center for Leadership Studies at Barnard College
- StarveUps
- Bright Old Things
- Hamilton – Broadway Musical
