7 Tips for 50+ Female Entrepreneurs Eager to Start a Business

According to Elizabeth Isele, founder, and CEO of the Global Institute for Experienced Entrepreneurship, “Today’s senior entrepreneurs are dynamic economic engines. As they launch new businesses and create jobs, they’re revitalizing our economy.” By starting a business later in life, you’ve got years of experience to use to your advantage and many other tools that will contribute to your own success. Here are 7 tips for 50+-year-old female entrepreneurs.

1. Do the Prep Work

The first thing you should do is to find a mentor who can guide you along your journey. If you need to brush up on your marketing or finances skills, for example, you should sign up for a community college or certification program. It’s also a good idea to contact your local Small Business Development Center, too.

2. Figure Out Your Customers

It’s important to spend time with your customers and figure out their needs and wants. By talking to them, you’ll be able to figure out what kind of product or business solution will fit their needs. This exercise will also let potential customers know that you are starting a business. After talking to future customers you’ll learn how to address your specific market.

3. Seek Out Virtual Advice

Aside from a mentor, HelloAlice.com is a free virtual platform that connects female entrepreneurs with other business owners, governments resources, potential investors, and mentors. It’s as simple as creating a profile and adding your start-up stage, revenue, and location. Then, using artificial intelligence, Alice finds what you are looking for.

Another resource you can use is PivotPlanet.com. It’s a virtual mentoring service that lets you to webchat or speak on the phone with advisers. You can choose between regular sessions or schedule them on an as-needed basis. However, this service isn’t free and meetings are billed hourly, ranging from $60 – $120.