I always wanted to have a business, tried to think twice but failed utterly. However, that taught me a few lessons.
- Plan well before you get into the business. Do not invest if you are not sure.
- It would help if you were a forward thinker.
- Know your passion
- Meet with trustworthy experts and discuss your plan.
- Research repeatedly.
- Implement proper accounting systems.
When I started, a complete mess wanted to leave the business immediately as I hated it so much. As a result, I just gave it to someone and left the company; after losing all the money further went into severe debts. That failure almost destroyed me emotionally and financially.
You learn from failures.
After years of aspiration, I am doing this now, but that failure taught me to take care of everything in a business. I am doing that now. However, sometimes it takes me to an extreme as well. I do not want to waste any more money only now after so many other bad experiences.
I have learned to control my finances now, but also, I am aware that I need to spend money to earn money. In this business, I am not making much money because I am not spending money on marketing. Therefore, I feel affected by either trying to find a solution for it.
Therefore, any entrepreneur in my situation should do the unpaid promotions, and the profit that they get from it should put back into the business to grow.
I learned to become patient after all that, as I was not a patient person previously. The essential quality for anyone to become successful in business needs to have patience. I can talk about my experience here again, and I started this business almost in 2015; it is an entirely new industry for me. I had to learn everything from scratch and made the progression very slow. So, I have known to be patient as well. I think all the other entrepreneurs have the same feeling.
When an older adult goes into the business, it will find it more difficult than young entrepreneurs because they have the family responsibility that becomes the priority for the older adults. Then I was inferior in technology. This business made me learn a massive number of technical aspects in the internet-marketing world. I think that I can manage the issue now. Overall, my entire knowledge improved, unlike before doing the same account repeatedly in accounting jobs, and I find it challenging only at the end of the year.
Before, I got upset over the slightest thing and was not hesitant to talk to anyone in an angry tone. All my horrible experiences taught me to control my anger, and now I hardly get mad and become abusive towards anyone now. People say parents teach kids when kids are small, and you learn from them when they grow up. My change of mind is partly because of my children and the business failures I had in the past.
Is it worth learning late in life?
Sometimes I think that it is not worth it, but learning becomes helpful in many ways. You can share your knowledge with others to help them in various ways to use it for education, business, and even for their personal life. You can use your experience to make money at any age if you have good health and desire. When you gain more knowledge and become helpful in many ways, you can write books and leave your generation with a legacy.
The loved ones around you might not appreciate what you do because they do not interest in learning about your work. But remember, there will be a day everything will turn around and make you feel successful because of your hard work. We all know hard work pays you in the end, so we have to maintain our patience which I learned now.
Wasting our time is like losing money, as time is money, especially at our later stage. An elder adult could support others; commit yourself to the society you live in and your family and friends. I am an older adult. I write a lot and publish it all the time. People can access my websites, eBooks, and articles free of charge to read them and feel happy about them.
We have to learn new things life long as it helps us at some stage. You might have been a horrible person when you were young and were not a good role model for your children. So at least learn the best and change yourself to leave a legacy for your generation. Try to do something good at least at old age now for them to remember you in a good way. We all make mistakes forget, and live better at present.