After working steadily for over 40 years, I was faced with an unexpected turn in my career. At age 64, just before Christmas 2009, I was called into a meeting at the consumer products company where I served as director of operations. That meeting ended up being my exit interview. Fired alongside several others, I gathered my belongings and walked out, uncertain about what the future held.
That evening, I met my wife at a nearby restaurant, unaware of what had happened until that moment. After celebrating a bit too much, I reflected on my career. I had been an engineer in manufacturing and packaging for decades, held a strong reputation, and stayed continuously employed. Retirement wasn’t an option, and though I had a solid network, the path ahead was unclear.
From Career Setback to New Beginning
Losing a long-held job later in life can feel like a door slamming shut. But it also opened a window for me. For years, I had been thinking about how to make a difference beyond the companies I’d worked for. After a brief period of consulting without passion, an idea took root.
My concern for the environment led me to clean technology—a business focused on sustainable, eco-friendly solutions. Specifically, I wanted to design and produce biodegradable packaging made from waste materials. This would replace the toxic single-use plastic packaging that pollutes our lands, rivers, and oceans.
The concept felt meaningful. The idea was to create packaging from materials like:
- Paper waste
- Agricultural byproducts
- Textile scraps
A venture like this could help reduce billions of pounds of plastic pollution left to future generations—especially my grandchildren.
At age 66, with four decades of experience behind me, I decided to become an entrepreneur for the first time.
The Spark of Entrepreneurship Rooted in Passion
Starting a business at 66 was daunting. I was stepping into the unknown, learning the ropes of manufacturing, outsourcing, patent applications, partnerships, and funding. These are typical hurdles for any startup, but certainly not things I had managed before.
Living in San Francisco, competing for funding posed unique challenges. Most of the entrepreneurs I met were in their twenties, fresh from the high-tech world. At times, I felt out of place, joking that my shoes were older than most people I met. The fast pace and youth-focused ecosystem could be intimidating, but I kept going.
Overcoming Challenges in Starting a New Venture Later in Life
The journey tested me in many ways. Here’s some of what I had to handle:
- Establishing reliable manufacturing and outsourcing processes
- Navigating job creation and hiring
- Securing patents for my innovative packaging
- Building partnerships and business relationships
- Finding and securing funding amid fierce competition
What kept me going was the belief in the mission—the urgent need to address plastic pollution and create something worthwhile. Over time, perseverance paid off.
Milestones and Successes of the Venture
Five years later, I was proud to say the business had grown steadily:
- Revenues had doubled every year
- We operated without debt
- We secured several high-profile clients
- Our patent was officially issued
- The company received over 20 awards recognizing innovation and environmental impact
Most importantly, we had made a small but meaningful dent in the plastic pollution crisis. Doing work that felt rewarding and impactful at this stage of my life was deeply satisfying.
The Need for Role Models and Community for Older Entrepreneurs
When I first started, I craved connections with other first-time entrepreneurs my age. I found no role models. Silicon Valley’s young app developers were clearly talented but didn’t represent me or my journey.
I wanted to help change that narrative. We need more conversations about seniors launching ventures—bold individuals "checking in" to the business world while their peers might be "checking out." Building a community for these older entrepreneurs can encourage more to follow their passions as I did.
The Economic and Social Impact of Senior Entrepreneurs
Older entrepreneurs like me are making a difference. The Small Business Administration notes that 64% of new private-sector jobs in the U.S. come from small businesses. Many of these are started by seniors.
Our culture often expects retirees to focus on leisure activities like golfing, babysitting grandkids, or playing checkers. I love my grandchildren, but I am equally passionate about contributing globally through meaningful work.
By 2050, the U.S. Census Bureau projects there will be 84 million seniors—almost double the number today. Imagine how many first-time entrepreneurs among them will transform their industries with decades of experience behind them. This growing senior population represents enormous untapped potential.
Celebrating the Success Rate and Impact of Older Entrepreneurs
Statistics show that older entrepreneurs have a 70% success rate in starting new ventures. This compares sharply with only 28% for younger entrepreneurs, as found by groups like the Chartered Management Institute in the UK.
Considering these numbers, seniors could be called the "Golden State Warriors of entrepreneurs," consistently winning at higher rates.
I’d like to see the term "70 over 70" gain as much recognition in media as "30 under 30." Entrepreneurs in their seventies are just as innovative, driven, and newsworthy as their younger counterparts.
Final Thoughts: Redefining Age and Entrepreneurship
Starting a business at 66 taught me that age is no barrier to reinvention, relevance, or impact. Experience and passion bring powerful advantages. Whether 66, 70, or beyond, it’s never too late to create something meaningful.
For seniors considering a new chapter, take heart. For society, it’s time to rethink aging and honor entrepreneurs of every age.
If you want inspiration and insights on senior entrepreneurship, check out resources like Self-Employment and Entrepreneurship for Older Adults or the U.S. Chamber of Commerce's Tips for Older Entrepreneurs.
Let's celebrate and support the amazing potential of senior entrepreneurs worldwide.
For more inspiring stories and talks like this, visit TED.com or subscribe to the TED Talks YouTube channel.
https://www.youtube.com/watch?v=Ogce5D2XMZ0
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