Am I too old to start a business?

  • Thread starter Thread starter Lord W
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Lord W

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Hi,

I'm 35 yrs old this year and facing this dilemma: To go further in my current career, I will have to take a 2yr MBA and with that qualify for a professional qualification in my industry.

But I would also like to start a business. I have failed several times when I was younger but the dream of having my own business never faded away.

Question is am I too late to start one now? Or should I just go for the MBA and stick to a job?

Thank you!
 
Never too old. Look what Colonel Sanders did with just a good chicken recipe, and he was in his 60s. I am 41 and considering starting one myself.
Just remember during a recession things either go boom or bust. Before giving up a career consider all your options, and ask a lot of questions. Could you get your MBA then do the business on the side after? Do you like your current job enough to invest in an MBA? What is the demand for the business you would like to start? Would your college money be better spent getting the skills you need to start up your new business?
 
Go to sba.gov check out this excellent website sponsored by the Small Business Administration, look for the section on writing a business plan.

Then write your plan, this will take time and thought for your unique idea. Then after you have made your plan, you can have a better idea of what is most reasonable for you now. If, your plan convinces you that you will get it right this time, that you have profitability planned into your biz then this is an EXCELLENT time to start your business. Then take your plan to the nearest Small Business Development Center, also SBA sponsored, (you can find the nearest SBDC nearest you from the "locator" at the sba.gov site).

The consultation is free, you may need to make an appointment. The services are professional, and free and often great financing advice and sometimes arrangements can be made to help you succeed, especially if you might be sub-contracting with the government, however that is NOT a requirement.

However if your plan does not show you can profit or succeed, don't give up ---Go for the MBA do your very best and you may meet other students and professors who can share additional insights, contacts, and refinements to your ideas or, have one of their own they will share. ---Perhaps creating a new opportunity. Good luck.
 
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