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How older adults become effective entrepreneurs

There is a common perception that entrepreneurs are young, innovative minds who are chasing their dreams at any cost. But why can an older adult do the same? Anyone can pursue their entrepreneurship at any age.

Luckily, there are advantages to starting a business later in life instead of beginning your startup straight after college. According to Forbes, there are at least four distinct business qualities that only get better with age.


Experience is crucial in any field because with more experience comes more knowledge and eventual success. As an older adult, you can use your extensive background to draw on while starting a new company. And then implement what you’ve learned throughout your career so far. It’s even possible that your new business stems from your experience in another position or industry.

Strong networks

Along with experience, older adults have more time to build up secure networks that they can tap into while crafting a company. For example, if you need to take out a loan or find investors for your business, you know who to go to or what can of people to go to based on your network. You won’t have to fish around for strangers to secure the funds you need.


It’s great to have a strong vision for your future startup, but most older entrepreneurs understand that your idea evolves. You will run into several challenges during the startup process, but older entrepreneurs use their established perception to navigate those hurdles and fulfill their overall vision. They also have a stronger understanding of finances and where they need to compromise to be successful.


One of the most significant advantages of being an older business owner is you tend to have more flexibility. You don’t have to focus on building your family or growing your finances before running your business. You already have the freedom in time, expenses and value to become an excellent business owner.

You can’t let age hold you back from fulfilling your goals in life. Allow your age to be the reason why your business succeeds while other ones fail. When you are ready, find the right attorney to help you with business formation and other company concerns.

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What Our Clients Say

Starting a new business can be a bit scary. Aside from worries of failure, there’s also the hassle of making sure all legal paperwork are properly filed. I reached out to Mr. Wang (Tommy) because of his excellent reviews and reputation and I am so glad I did. He was thorough and meticulous in answering all of my concerns and took time to find out special laws and policies regarding the kind of business I am starting. I could focus on the daily practical side of starting my new office without worry because I felt Tommy was reliable and took my case seriously. My business is opened and it’s all been a smooth start because of Tommy’s help. I have plans to start another business venture in the next few years and I already know I’ll be coming back to Wang IP Law.

The Shindig W.

I came to Tommy for help reviewing a licensing agreement I had secured with a well-known manufacturer. Tommy made sure I understood all the details in the contract and he negotiated with the company to improve my side of the deal. I mentioned to Tommy at my first consultation that we were looking to expand throughout the US and were investing a lot of money to make a big entrance into the market. I did not think I would have my store open so soon but Tommy also has connections with the local area and realtors to help me secure the location for my first store in the Los Angeles area. Tommy works a lot with the local businesses and he understands how to transition from the Asian market to US market. Within 8 months my store was open for business and fully operating. I must recommend Tommy to any business owners looking for help with contracts and improving their side of the deal. Tommy has the knowledge and experience to make sure there is a smooth process to open for business here, and make sure that your company is set up for success.


I think Tommy and his team by far considered the best people to work with in my 16 business years. Beside quick responses to all my inquiries, they also done things right and providing very professional solutions. I’m highly recommending Tommy and his firm to all business owners.

Calvin C.

I have been working on my Utility Patent for almost 4 years. I have hired and fired two very reputable IP firms because with all their expertise and reputation for being some of the top firms in IP Law, I felt a lack of connection and care in my product, time and financial investment. Then I found Tommy and his team. Tommy does not waste time. He and his team are professional and extremely thorough. After 4 years, I finally found a legal team that I felt spent the time to really understand the components of my utility patent. Tommy also very mindful of cost and how and where my money would be better spent. I really feel I am in great hands with Tommy and his team. They have been patient with my revisions. And most importantly, they made me feel that they fully understood the importance this patent is to me. It has been a great and comforting pleasure working with Tommy.


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