Is It Ever Too Late To Start A Business?
Most people harbour a dream of starting their own business someday and reach the pinnacle of success through their endeavours. While some wish to open a swanky coffee shop or an idyllic bookstore, others want to invest in a thriving IT company or the burgeoning retail sector, the list of business ideas is endless. However, the thought of quitting a secure corporate job to become an entrepreneur seems daunting to many. Yet, a lot of people take the plunge and reap the benefits of becoming their own boss. According to reports, the number of businesses in the UK for the year 2017 rose to 5.7 million, of which 99% belonged to the micro business category. There was a jump of 4% from 2016. In fact, the number of businesses in the UK has been steadily growing by 3% every year since 2000.
Still, there are reasons that keep people from entering the industry, such as the insecurity of losing one’s life savings and the risk of not being able to make it big. Many others feel that they might be too old to own a venture at a later stage in their career. For the record, age is just a number, and it is never too late to become the master of your own fate. Ambition is all that matters when you wish to own a business. In fact, the more experienced you are, the higher is the chance of succeeding. There are plenty of examples in the world wherein middle-aged people have struck gold with their reinvented careers. Giving wings to your imagination is the best way to go forward in life. It is usually less risky when you invest your hard earned money in businesses for sale in the United Kingdom as the foundation for a profitable business is already laid. As the new owner, you just need to take charge and make the company prosper under your reign. According to a research, a huge number of entrepreneurs in their 50s have started their businesses in the UK in the recent years as compared to their younger counterparts.
It might sound like an outrageous idea to those who have families to feed and liabilities to fulfil, yet the history books are filled with several names who have staked everything to emerge as revered tycoons of all times. The most recent and memorable success story is of Apple Co-Founder, Steve Jobs, who created the revolutionary iPhone and iPad gadgets which took the world by storm. Born in California in 1955, Steve’s dream was “computers in the hands of everyday people”. He launched user-friendly, cheaper and smaller personal computers under the brand name Apple Computers at the age of 21. After a successful run for a few years, the company received fierce competition from IBM and suffered huge losses. As a result, Jobs had to resign in 1985 for not being able to meet the demands of the consumers. However, he did not give in.
He continued to work hard and started an animation company Pixar, which was later bought by Walt Disney. In a twist of fate, he was offered to become the CEO of Apple once again in 1997 at the age of 42. He proved his criticisers wrong and came back with a bang. He launched the trendiest and ground-breaking products like the iMac, iPod, iPhone and iPad which brought in big money for the company. The brand is the most sought-after name in the market till date. The popularity of the Smartphone is so high that people wait for days in queues outside its stores before the launch of the new version. Steve Jobs passed away in 2011, but his legacy continues to motivate people all over the globe. Another example of a late bloomer is Colonel Sanders who started the much-loved fast-food brand KFC at the age of 65 using the money he got from his social security cheque. Today, it is the second largest franchise in the world after McDonald’s. This goes to prove that success can come at any point in one’s career and self-motivation is the key to keep going.
Taking a business to new heights depends on the ability of the person, and not the age. That is why there are many advantages of buying an existing business or franchise for sale in London when you have spent a reasonable amount of time learning the rules of the game. Also, London has the highest number of businesses, which account for 18.9% of the total businesses in the UK. Thus it is a good time to bid farewell to your standard 9 to 5 routine and become a part of something extraordinary. Here are the reasons why you should think about purchasing a business:
Unlock your hidden talent
Most corporate jobs do not allow the employees to experiment and put their best foot forward. The workers are made to function as per the set policies and procedures that leave little room for innovation and improvement. With a self-owned enterprise, you can realise your unfulfilled potential and unleash your untapped talent utilising a job position that satisfies your creative streak and zeal to excel.
As a seasoned professional, the experience gathered over the years helps in understanding the nuances of running a business. It also provides a fair idea of the challenges that may become roadblocks in the future. The wealth of knowledge acquired in a corporate job can be put to use to operate an enterprise and to envisage policies and procedures which match the company objectives. Also, an industry veteran would be aware of the significance of delegation of responsibilities to the right people at the right time.
It is beneficial to own a business at a later stage in one’s career as the person is well-settled in life. A good number of years working in the industry ensure that you have made some savings and your kids have grown up and do not need your complete supervision. This is the time when you can concentrate on work without worrying too much about your children or finances. Most people are in a comfortable state of mind by the age of 40 and keen to explore new avenues.
Networking is the key
In any business, networking is the key to success as it helps in forging rewarding partnerships with clients, partners, stakeholders, suppliers, and distributors. An experienced professional would have connections with all the important people and would be able to easily build strong associations for his own business. This will make sure that there are no problems due to lack of contacts in the industry and will also assist in securing credit or funding easily and quickly.
If a job is burning an employee out and not helping in realising his/her potential, then it is the right time to quit and run a flourishing venture. Age does not affect the way one can manage the business; instead the older you are, the better you get at handling things. Experience and expertise help in accomplishing everything in life. So give a fresh start to your mundane career by purchasing a business for sale in the UK and get ready to grab the profits.