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I wrote an post at the beginning of May titled Whatever Your Age- Don’t Stop Dreaming, because as a retired person myself I certainly haven’t stopped dreaming and I know plenty reading this haven’t also.
Earl Fultz should get the prize though because he started his business life at the grand age of 88 years old. Six years on and at 91 years of age Earl has ambitions to make his business a billion dollar business. You know what I reckon he’ll do it!
Here are some very simplified pearls of wisdom from Earl himself on how to succeed at any age:
- Try to focus on what you know.
Earl fully understood that statistically, more start-ups fail than succeed, so he advocates that you pursue a business in an area you know. In Earls case his wife Gloria had the expertise with their products, which are different sources.
- Get a real proof of concept.
Gloria took a very hot Moroccan sauce, she is from Morocco, and toned it down a bit by changing the ingredients. Then they tried it out on family and friends and the local farmers market. It didn’t take them long to realise they had a hit on their hands. Proof of concept!
- Attract people who are smarter than you are.
Self explanatory and taught at all business seminars but even more important when you may not have all the time in the world!
- Expect to make mistakes.
We all do that, it’s how we evolve.
- Don’t undervalue the purpose.
This is what Earl says: “I value having a purpose in my declining years. I value having something to get me up in the morning (good or bad).”
While profits are important to keeping a business going, Earl now has something that not only honors his late wife but fills the void of her being gone. He’s also been able to add to his life experiences with such accomplishments as becoming a “guest chef” at Yankee Stadium and meeting Matt Gibson, Executive Chef at the NY Yankees Legends Restaurant. His connection with Matt led cHarissa to being served at the Revolving Restaurant atop the World Trade Center.
He says, “It’s a kick!... I wish I had learned earlier how liberating a start-up can be. And fun!”
Earl also believes that with the right thinking and right mind you make your own luck, and I for one agree with that.
You can read more about Earl and his story here on Entrepreneur.Com.
You may also like my post: Keep Working if You Want To Live Longer.
To end this piece I want to finish by mentioning the proof of concept.
Do you know if your business is really viable?
I do because I’m proving it in real time and you can see the proof here on my Plan To Prosper Blog.
Not some bigwig with loads of money to throw at something just a retired guy down to his last few pounds!