50-year-old entrepreneurs create more lasting and profitable businesses

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

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Entrepreneurship is complex, if we add the factor of age, the challenges multiply. The economic crisis derived from a pandemic was a turning point in which many Mexicans were immersed and the need led them to develop this activity in order to overcome the situation.

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This same wave of entrepreneurship in Mexico was enhanced by women and men over 50, Silverpreneurs or senior entrepreneurs , who seek economic independence or survive in a crisis that is still hitting the entire world. Today they are gaining ground and are transforming the entrepreneurial ecosystem.

As part of WORTEV Rise Day Silverpreneurs: Entrepreneurship after 50 , Rolando Porchini, founder of the Mexican Association of Senior Entrepreneurs 50+ and Luis Garza Hoth, founder of Entrecanos , talked about the opportunity they found to support older adults and the value of the Silverpreneur phenomenon.

Claudia Calvin, founder of Mujeres Construiendo , participated in this virtual event where she pointed out some of her best tips for starting a business. Therefore, 5 tips were developed for senior entrepreneurs to achieve their goal:

1. Start now!

Age is not a limitation to realize the entrepreneurial dream. It does not matter if you are over 50. \Find yourself, transform yourself, fulfill yourself and transcend, we have a lot of life ahead of us,\ said Rolando Porchini.

2. Find your passion to start a business

Search deep within yourself what it is that you are passionate about and from there look for a business opportunity. Where to look for inspiration? The creator of Entrecanos stated that \we have to get infected with what is on the street, there are the opportunities.\ And do not stop, if you have already detected that business opportunity, run it immediately.

3. Overcome the prejudices of society

Upon reaching 50, adults face discrimination and rejection from younger generations. This age is the best time to undertake what has been called the generation of the “buoyant silver economy, a concept that refers to everything that could impact the economy if all adults over 50 years old joined.

4. Capitalize on your experience to start a business

\Wake up that leader who is asleep and you have inside yourself\, prompted Rolando Porchini. People over 50 have a lot of experience and need to capitalize on their endeavors.
Claudia Calvin encouraged those over 50 to take note of the 20 things they know how to do very well.

5. Formalize your business idea on paper

One way to land the business idea is through the Business Model Canvas (BMC) tool, Porchini recommended: “Starting from basic points such as the breakeven point, return on investment, sales, channels, everything should be fine. developed\. This will help to get investors.

Similarly, Claudia Calvin suggested the use of an agenda and that it should be in accordance with what you want to do: \It seems obvious, but it is not, things that are not scheduled, do not happen,\ he specified.