In today’s world, there is no denying that we often paint a picture of a millennial when we think of an entrepreneur. However, there are increasing numbers of older entrepreneurs deciding to go it alone and set up their own businesses.

That rings true, according to research from the Swinburne University of Technology and Queensland University of Technology, that shows business owners aged 55 to 64, lead about 34 per cent of Australian firms. The research also shows senior entrepreneurs work fewer hours per week compared to younger entrepreneurs (18.5 to 23 hours) and have more industry experience (13.25 to 7.5 years).

If you’re in your 50s and you’re thinking of starting your own business - there is no better time than the present.

Transitioning from a nurse to a small business owner

My journey is an example that it’s never too late to start a business later in life - I switched careers in my early 50s. I had worked in hospitals for over 30 years both as a nurse and in the quality and data fields, and during this time, I uncovered consistent frustrations health care professionals have. These frustrations occur numerous times across Australia every day, including lack of resources such as time, staff and money, out of date and incorrect information, and delayed treatment and disengaged consumers

However, the ultimate pain point for healthcare professional is the pervasive feeling that they are not providing the best care for their patient. In response to that, I started and run Make It Appen, a software development company that creates apps for the healthcare industry that aim to improve lives of patients.

To create apps for the healthcare industry, I had to first learn how to code for apps. I had some software development experience, but coding for apps was a whole new ball game.

It took me three years to find a software program to build apps that suited my needs. I tried about 5 different options before settling on Xamarin, a Microsoft Product, but even then, the learning curve was huge. I had to learn two new coding languages C# and XAML. I also turned to tools such as Github, an open source code-hosting platform, where other developers freely share their code and their knowledge - it gave me inspiration and helped me advance my coding skills.

Getting around the learning curves of a seniorpreneur

For any entrepreneur, you have to wear many hats for the business at the start - from accounting to marketing - and this can be a challenge, especially for seniorpreneurs who may have spent most of their career in a specific trade. My best piece of advice is to outsource what you can afford to. You do not need to be an expert in every single area of the business.

It also took me time to realize that at my age, I was not pressured to build an empire if I did not want to, and that the business can be a large or as small I wanted it to be. l was happy to only have a small team and build a few select apps a year, which meant that I could keep doing what I love, and that I was focussed on giving my customers the best experience. Success can be found at many levels - you do not have to make millions to be successful.

Upskilling yourself is key

If you have a business idea - just start it, even if it seems scary. At our, age we often have more freedom, time and money to take a few risks and pursue ideas that we may have shelved aside when we were younger.

While we may have more time for leisure activities at our age, it is also important to carve out time to sometimes put yourself out of the comfort zone and upskill yourself.

Lastly, you are never too old to try something new. It can be difficult as those around you may be talking about retiring. If you have a good support network and are in good health, this is the best time of your life to start something new for yourself.