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Wiser: The Definitive Guide to Starting a Business After the Age of 50

By Wendy Mayhew

There is plenty of information out there about starting a business if you want to troll through the internet. What we love about this E- book is that it brings all the elements together in one place in quite a unique way. Each chapter is based on an interview with an expert in the field of the issue Mayhew is addressing. The chapters are short and sharp and at the end of each, there is a link directly to the interview.  There are extra notes pages so you can capture specific information of interest as you listen.

Among the diverse range of business leaders from around the world that Mayhew interviews are CEOs, legal professionals, accountants, coaches and mentors and marketing specialists.

As an older entrepreneur herself, the author is keenly aware that there is a lack of support for mature-aged entrepreneurs.

 While business fundamentals are the same for anyone starting a business, she recognises that there are some added hurdles for people 50 and over. Unlike Millennials, older entrepreneurs were not raised on the internet and the rapid advances in technology are hard to keep up with. She also discusses the issue of transitioning from employee to entrepreneur, which can be especially difficult for those who have had long careers as employees.

Along with the links to her interviews in the book, other unique characteristics include her attention to issues often overlooked in traditional business start-up guides. While her step by step guide addresses anticipated issues such as business planning, legal requirements, marketing including all aspects of social media, sales and customer experience, she also encourages readers to think about how to leverage the benefits of an intergenerational team. Mayhew steps further outside the traditional paradigm when she discusses the important element of networking to a successful business, but from the perspective of an introvert.
There is not much Mayhew overlooks. For those who are unwilling to start from scratch, she addresses alternative options like buying an existing business including a franchise. She also discusses exiting a business.

Starting a business is much harder than people initially assume. Older workers in Australia are increasingly likely to start a business and while many look to build a business around their particular expertise, these skills aren’t necessarily helpful in launching a new business. This comprehensive guide can help readers consider whether starting their own business is really for them.

One caveat is that Mayhew is Canadian, and she acknowledges that some of the information she includes will be subject to different legislative requirements but overall the guide is applicable wherever you reside.