With recent research showing that a significant number of mature entrepreneurs, dubbed ‘olderpreneurs’, are choosing to set up direct selling businesses, we look at the appeal of starting such an enterprise for the over 50s, from bumping up your retirement savings to finding fulfilment in later life, and how more mature entrepreneurs can make really successful direct selling professionals.
According to a recent study of 30,000 direct sellers across 11 markets, by Seldia the umbrella organisation of direct selling associations in Europe, 19% of participants are now 55 or over. At almost one-fifth of the workforce, this is a significant number of hard-working olderpreneurs who have taken the initiative to start their own businesses and make a change in their lives for the better. So, what is the appeal of this increasingly popular profession to the more mature entrepreneur?
Boosting your nest egg
With the cost of living skyrocketing, life-expectancy rates rising and pensions worldwide looking less than promising, some over 50s may choose to set up a direct selling business to boost their retirement nest egg and ensure a decent standard of living in later life. Indeed, it certainly pays to plan ahead for retirement and starting a side business, or so-called side hustle, alongside your job, is a savvy way to do this. In fact, recent studies in the UK and US show that the current upward trend is for enterprising individuals of all ages to start such a side hustle, and a rising number of people are looking to direct selling for the flexible work options it provides. In fact, according to the study by Seldia, 63% of direct sellers in Europe now say that they run their businesses alongside full- or part-time jobs. However, starting a direct selling business is no guarantee of earning great riches, like launching any new business, it takes hard work and perseverance to make a success of the venture. It is also important to do your research before joining a company, to avoid getting burnt by unscrupulous schemes. Seeking advice from one of the direct selling associations that oversee the industry, such as the Direct Selling Association UK (DSA UK) is therefore wise, as they can point you towards reliable companies.
Finding fulfillment
While, of course, financial considerations will always be important, there are other powerful reasons why the olderpreneur might choose to start a direct selling business. 
Finding fulfilment in life, at whatever age you are, can be a strong motivating factor to set up your own business. Indeed, in the wise words of legendary author C.S. Lewis, who was born 120 years ago, ‘You are never too old to set another goal or to dream a new dream’. For the potential olderpreneur, this desire could be particularly strong, as it may be that after many years of unfulfilling corporate grind, or possibly being made redundant from what looks suspiciously like an ageist job market, they are desperately seeking the satisfaction that being your own boss can bring. Indeed, a recent study by Henley Business School, in the UK, reported that finding more meaning in life is a strong motivating factor for all who start a side hustle, with 73% saying they did so to follow a passion or explore a new challenge and 69% confirming that it actually made their lives feel more interesting. This is where a direct selling business can be particularly appealing, as the industry now provides such a plethora of different products to choose from, that you are bound to find something you can be really passionate about selling. It can also actually be truly fun, as it offers the opportunity to widen your social circle while networking for business purposes.
A senior star
Direct selling also provides the perfect opportunity for the olderpreneur to put their considerable experience to great use to excel. Forget all the media hype about the 21st-century young entrepreneur, this is an area where many years of experience in the working world and the people skills and staying power maturity can bring could really help. Indeed, one highly successful UK-based olderpreneur, Dr Javed Akhtar, has put his considerable experience in the teaching profession to good use by joining LEO, a global entrepreneurship training organisation and direct selling company. In fact, so successful has his enterprise become, that what began as a part-time venture has blossomed into a full-time business. So, why did he choose to join the organisation? He says: ‘Well, having previously worked in teaching, I was especially impressed by LEO’s core entrepreneurship training products. It is important to really believe in your business venture and this ticked all the boxes for me, and it is a decision which has proved to be sound. The fact that LEO is a member of the DSA UK was also important, as this provided the reassurance that it is a genuine and legitimate organisation.’ Having just won the prestigious accolade of LEO Direct Selling Star of the Year 2018, presented at a recent DSA UK awards ceremony, Javed has achieved remarkable success and his star is still very much in the ascendant.
So, if you’re over 50 and looking for a new challenge in life, and a way to boost your savings, perhaps it’s time to consider starting a direct sales business. Who knows, you could soon be hobnobbing with the entrepreneurial elite.
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