Starting a business in your 30s
If you’re in your 30s and considering starting a business, there must be a big reason to make you want to do it. You may be unhappy in your job, or you may enjoy what you do so much you want to start your own firm. Starting a business in your 30s puts you in good company, though, since most people start a business around the age of 35.
In your 30s you’ve likely already had a lot of experience and education in something that is causing you to be filled with the dream of entrepreneurship. It could be based on what you are doing now, but it might be something totally unexpected.
Maybe now you have kids too, and you realize that the old job doesn’t give you the time freedom that you need, and you feel as if you’re missing out on your kids’ lives. So, you set up a business the entire family can work in. Whatever the reason, it’s a great time to start a business.
Some great business ideas for people in their 30s are software companies, digital ad agencies, and so much more. To come up with the right business for you, ask yourself what you’re trying to achieve. How do you want your life to look once the business is established? Do you want to be location independent, or do you want to start something in your local area? Do you want to earn millions, or are you fine with six figures? All these factors matter when choosing the business.
How can you support yourself while you start this business?
It’s important to know how you can do it financially and be successful. You likely already have a mortgage and other bills to contend with that you didn’t have in your 20s. Make a budget. Cut back, tighten your belt, and jump in. Look to your business plan to determine what you need.
Am I really leaving a stable job for this?
If you know you have savings and can finance your start-up, it may cross your mind that you are nuts to leave a stable job. And plenty of people will tell you that very thing without you even asking. But is a job really that stable? What makes it stable? Won’t the jobs you create also be considered stable jobs?
What about your training, experience, and knowledge?
You may think you’re wasting it, especially if you’re going in a new direction. But who says you must do the same thing forever? Why can’t you change your life if you want to? If you’ve been in corporate finance since you graduated college at 22 years old but now you want to start a software firm, you’ll use some of the skills, but it’s different enough to give you a change if that’s what you desire.
Will this business, if successful, give me the results I desire?
Before picking the business you are going to run (probably for at least the next 10 years), make sure it’s really what you want to do, and that is how you want to live your life. Imagine a day in the life establishing the business, and what a day in the life will be like once the business is well established.
You can literally start any type of business you want to in your 30s. There are very few barriers to entry for any type of business other than resources. Do you have the funds, skills, and ability to do it? If you do, go for it.