“It’s never too late to dream a new dream”
That quote is a favourite with our silver surfer community because we understand it better than most others ever can! From going on holidays before lockdown to hand stitching masks to help those in need, the Silver Surfers community is resilient and resourceful.
Both these traits are most visible, perhaps, in our Silverpreneurs. Running a cafe? Check. Crochet and exhibits? Check. Cooking up long-forgotten recipes? Check. And much more!
What makes Silverpreneurs special is that they have great ideas, yes, but also the courage and enthusiasm to follow through with them!
Of all the lessons in entrepreneurship, the one on experience is the best, we think.
How are Silverpreneurs born?
When it comes to launching a successful business, youth is not the magic elixir!
Younger years are often filled with busy schedules and working towards the goal of settlement, which leaves little to no time for anything else.
However, post-retirement, many seniors discover that they are exceptional at one thing or another. With age also comes grit, determination, experience and a wealth of wisdom. Not to mention, time on hand to try something new. This is often the spark that sets off one’s entrepreneurship journeys making these years the right time to find a passion and turn it into profits.
Veena and her venture of making Amigurumis (a Japanese art that you need to Google right now!) is just one example of what’s possible. Silver Surfer Anil M is building an apparel brand, while Usha R runs an interior design business.
Silver Surfer Meena and her chocolates are a hit, while Rema and Nina make handmade lotions to order, and with a lot of love.
The Proof is in The Pudding
According to a Quartz news report, over 50% of all American entrepreneurs are above the age of 50. India can soon be expected to follow suit, and we are seeing a small yet powerful proof of concept in the form of our Silverpreneurs. In fact, one United Spirits Managing Director only started up at 70, and initial reports from India show that Silverpreneurs are showing everyone what it means to run a business.
Silver Surfer Usha Varma’s story comes to mind here. After working at a bank for 26 years, she decided to become a Caped Crusader- or should we say Carpet Crusader?
Extremely passionate about interior design, she turned her passion into a successful entrepreneurship journey, and she started when she was 68. Today, Usha’s handpicked carpets sell out within hours of us opening up the Silver Bazaar.
What’s more, five years after opening up, 70% of Silver-run businesses are still operational. A few of them can be seen in the pictures below. In a world of valuations and unicorns, being a Silver Surfer gives you a distinct advantage.
Should I Postpone Retirement to be a Silverpreneur?
We’d say yes!
A second career, and one that you choose voluntarily, can be an extremely rewarding way to spend your senior years.
Gordon Bowker started Starbucks at the age of 52 when he visited an Italian barista and realised that there is a huge demand for good coffee. Martha Stweart developed her magazine idea when she was fifty. Tao Porchon-Lynch was the world’s oldest Yoga teacher, continuing to pursue her passion well after she crossed the century mark- and she was a great dancer too!
Studies on ageing have shown time and time again that people who are physically and mentally active in later years live happier lives, have lesser chances of suffering from decline, and end up needing to be less dependent on others much later.
What’s more, Silverpreneurship is a way to generate a passive income as well as opportunities not just for yourself but also for people who work with you.
You also get to set an example for future generations on what it means to lead a fun, fulfilling life while doing that thing that you love most.
Is it time to go back to B-School yet? Maybe all of those lessons are alive and well in your experience!
The Silverpreneur Checklist
Convinced that this really is the best time to start your own venture? Here are a few things to get you up and running, quite literally!
What kinds of businesses can you start? Well, the sky is the limit here. If we really need to narrow it down, we’d ask you to consider two questions:
What is your area of interest? What are you truly passionate about doing? Entrepreneurship is a journey of learning and growth, so picking something that interests you will give you an advantage.
If you don’t want to consider the option above, which of your existing skills can you monetise? If you have corporate experience, you can turn that into learning opportunities. You can also consider becoming a professional coach.
What skills will you need? The world of business is different today than it was even a decade ago. Some level of comfort with digital tools can come in very handy. For example, you may want to take orders for your products on WhatsApp or start an Instagram page. It helps to be well-versed in using these platforms.
Another aspect to consider is marketing in today’s times. Your customers will most likely be spending time online, so you need to figure out where they are and what to say to them.
Doing that is really easier than you think! Being authentic and genuine are valued more on social media than actively trying to sell. So put that cheerful demeanor and years of experience on display!Why do you really, really want to be a Silverpreneur? Entrepreneurship is a journey of ups and downs, and your experience with life gives you the right perspective that so many younger entrepreneurs would crave for. However, when the times pull you down, knowing why you started in the first place can help you reorient.
As part of the Live Well Age Well seminar series, the Silver Surfers Club is hosting a virtual session on Senior Entrepreneurship with Mr. Bala Girisaballa, President of Techstars and former Managing Director of the Microsoft Accelerator program.
We will be discussing entrepreneurship opportunities for seniors in current times, ways to set up a small business, and also address scaling challenges for existing Silverpreneurs.
The entry is free but needs registration. Please register yourself here to receive timely reminders before the event begins.