Chronicles Of A 50+ Entrepreneur: Our One Year Anniversary

In the previous articles in this series I write about my experiences as a 50+ entrepreneur and advocate for boomer populations.

No matter which statistic you subscribe to, the evidence is strong that at least 30 percent and as many as 50 percent of new companies fail in the first year. The fact that we’re still standing, still publishing every day, and now hosting a series of events across the country is something to be proud of.

I Believe

I am convinced that my company has legs. I believe that there is a need for what we’re doing and that we have started building the solution to it. Unless someone is working in a secret laboratory somewhere (deconstructing these posts), I haven’t seen competition for what we’re doing. It’s not wishful thinking, there is just no one focused on work and financial health for the 120 million Americans over 50.

Startup Syndrome

As smart as I am convinced I am, I’ve also been slain by some of the stereotypes you hear about people and their startups.

1. I’m working a lot. I’m not exercising enough. I’ve gained 25 pounds.
2. I’ve taken financial risks to keep the company going. It’s been uncomfortable for our family budget. It has also included asking for more money from our existing friends and family investors and it was really uncomfortable.
3. I’m missing some family matters.

What We’re Doing Right.

There is more we’re doing right than wrong. It has involved very careful focus and a ton of discipline.

1. Partnerships are making a huge difference. We are moving faster and with more credibility because of the partnerships we have forged.
2. We are operating very frugally. I can’t say enough about how this makes you think creatively. I’m ashamed thinking about the money I’ve wasted in corporate gigs. I hope I don’t forget this as we start making more money or accepting more investment.
3. I am honest with my co-founders, investors and advisors.
4. We are maintaining a high profile in the ‘Longevity Economy’ ecosystem. The right people are finding us because we are relentlessly publishing and are open to most conversations.
5. When we meet with our audience at our public events, they are genuinely relieved and appreciative that we are there. These conversations about work and financial matters over 50 can be embarrassing, often there is shame and fear in speaking openly about it. So, the qualitative and ethnographic evidence that we are on the right track is abundant.

What’s Next

As the year-end approaches, and before we have everything finished, we’re moving fast to complete a few things as we celebrate our first year.

1. Finishing off our Friends and Family round.
2. We’re headed to the east coast in November and December to have public events and meet with partners.
3. Compile our research for a paper we’ll publish in January “Understanding the 50+ consumer.”

We’re going big. If we could accomplish what we have in a year, we feel positive that our future is bright and bigger than we can imagine today. We’ll make it and I’ll get back to the gym so I’ll be agile enough to make it happen.

Previous articles in the series:

• A Conference Talk Leads To What’s ‘Next For Me’
• The Story, The Advisors And The Team
• Putting A Legal Structure In Place
• Spreading The News And Early Investments
• Testing The Facebook Ad Waters
• The Modern Elder Academy
• Can Your Startup Start A Movement
• Meeting Matter.vc
• Becoming A Caregiver Statistic
• Talking To Our Audience
• Making Assumptions And Forming Hypotheses
• How To Cope When You're Alone Again On The Startup Journey
• Developing The Brand Architecture
• Raising An Angel Round and Perception
• A Fellow Entrepreneur Offers Guidance
• The New Pitch
• Gracefully Radio Interview
• Ready For Anything, Even Wait And See
• Always Be Publishing
• Getting Out Of Your Head
• Activating A List Of Investors
• In The Details Of Subscriber Growth
• Interview: StartOut
• Keep On Connecting
• Backing Away From Facebook And Twitter
• Sell Your Product, Not Stories To Investors
• Building An Event Business
• Finding Comfort With Agility
• The Zen Of My Company
• I Got This
• Mapping Our Business Plan
• A Coaching Session and Going Bigger
• Meeting The Competition
• How Writing Boosted My Confidence
• Attending Jason Calacanis’ Launch Scale Conference
• San Francisco Here I Come
• Notes from Launch Scale Conference Part 1
• Notes from Launch Scale Conference Part 2 - Next Door and Network Effects
• Notes from Launch Scale Conference Part 3 - Craig Newmark's Philanthropy, Founders for Change
• A Hometown Premier