Entrepreneurs over 40 - What Next?
“I’m 50 and I have reached the “What next” stage of my life.”
What is next for me?
As a successful entrepreneur in your 40s or 50s , you may be wondering what's next for your life. After running your businesses for more than 15 or even 20 years, you start to feel like life has gone stale and you are craving more but don’t have a hint of where to start. There’s no formula or hack. Just start exploring and doors will open as you take the path. Here are some suggestions:
Mentoring and Giving Back
As an experienced entrepreneur, you have a wealth of knowledge and expertise that you can share with others. Consider mentoring aspiring entrepreneurs or volunteering your time to help others in need.
2. Pursuing New Ventures
You may want to explore new business opportunities or pursue a new passion. Take the time to reflect on your interests and goals, and consider exploring new ventures that align with them. When I turned 50, I revisited kiteboarding and set a new goal to be able to kite in remote places. I wasn’t that successful but I enjoyed the whole adventure. I also explored downhill and nordic skiing, hiking the alpine, snowshoeing. I took an avalanche clinic for women, tried setting new goals for paddle board touring and broke a personal record. I loved rock climbing in my early twenties, so I went back to learning to climb and tried outdoor climbing. I can’t run out of a list of things I still want to try because until I was 40, I had my mom hat, my CEO hat, etc. Now I have more time to try new things.
3. Work-Life Balance
Achieving work-life balance is important, especially as you get older. Consider how you can create a lifestyle that allows you to prioritize your personal life while still running a successful business. In our company, we call it work-life integration. I consider my work my life so I don’t separate the two. By loving your work and integrating it with your life mission, you never have to do the balancing act.
4. Continual Learning and Growth
You can continue to learn and grow as an entrepreneur by attending conferences, reading books, and staying up-to-date with industry trends. Consider investing in your own personal and professional development. We have a LIT Growth Forum on Tuesdays bi-monthly. Learn with other leaders who are on the same journey as you are. Visit VitaminCEO.com to see if this is for you.
5. Legacy Planning
As you reach 50, you may start thinking about your legacy and how you want to be remembered. Consider creating a plan for your business and personal affairs to ensure that your legacy is preserved.
6. Health and Wellness
Taking care of your physical and mental health is essential, especially as you get older. Consider incorporating regular exercise, healthy eating habits, and stress management techniques into your routine. Most of us were too busy to be fit during our start-up years. Now we have time and financial freedom to really focus on wellness. Make this a project and focus on results you want to achieve for yourself. Set goals that are challenging but doable and take action.
Remember, there is no one-size-fits-all answer to what's next for your life as a successful entrepreneur at 50. Take the time to reflect on your goals and priorities and make choices that align with them. Seek the support of a coach or mentor if needed, and don't be afraid to take risks and try new things.
“Make choices that align with your vision for your best life yet.”
If you are looking to figure out what you want to do next, it’s time to explore.
Chat with me!