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Dear Friends -
This week’s newsletter is inspired by a Wall Street Journal article titled “The New Age of Entrepreneurship: 70 to 79.” It highlights a growing—and inspiring—trend: people starting new businesses in their seventies.
We tend to associate entrepreneurship with youth: boundless energy, late nights, and caffeine-fueled ambition. But for many, the later decades are proving to be the most fertile time to launch something new. Why? Because experience, networks, and purpose all peak together.
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Why This Chapter Is So Ripe for Entrepreneurs
People in their 70s have what younger founders can’t fake—decades of lived experience, industry insight, and trusted relationships. They’ve seen the gaps. They know what’s broken. And now, they finally have the freedom to fix it.
According to researcher Cal Halvorsen at Washington University, nearly 30% of employed people in their 70s are self-employed, almost double the rate for those in their 60s. That translates into roughly 1.3 million septuagenarian entrepreneurs in the U.S. alone.
Technology has also erased many barriers. You can launch a company from your living room, connect with clients online, and build teams remotely. Add in longevity trends, the desire for purpose, and institutional support (like the AARP’s Work for Yourself@50 program), and the path to entrepreneurship in later life has never been clearer—or more accessible.
Meet the Founders Defying the Clock
Here are a few of the entrepreneurs featured in the WSJ story—and what they can teach us about reinvention:
Charlotte Bishop (80) turned her knack for organizing into Life Files Professionals, a concierge service that helps clients manage documents, health records, and even grocery deliveries. Her business evolved naturally as her own life did—a masterclass in staying adaptable.
George Koenig (70), after decades running a home-care agency, saw the flaws in the system and built eCaregivers, a digital platform connecting families directly with caregivers. He’s solving a real-world problem he knows intimately.
Mary Rawles (78) launched Fit For The Rest Of Your Life, teaching strength and mobility classes to older adults—online, in gyms, and even from her garage. Her motto: stay active, stay connected, keep learning.
Judson Vaughn (71) and Judson Graves (77)—an actor and a lawyer—joined forces to teach attorneys how to improve courtroom storytelling through film-inspired performance. Their online course blends passion, experience, and creative collaboration.
Their common thread? Each drew directly from lived experience, saw unmet needs, and acted on them—not to chase wealth, but to create impact, freedom, and joy.
More Stories to Inspire You
Later-life entrepreneurship is no longer an exception—it’s a movement. Consider:
Colonel Sanders, who franchised KFC at 62.
Bernie Marcus, who founded Home Depot at 50.
Morris Chang, who started TSMC, now the world’s leading semiconductor company, at 55.
Newer examples: Enterprise League, EU Startups, and Kauffman Foundation all feature lists and resources profiling successful founders over 60.
The pattern is clear: when the motivation shifts from ambition to meaning, creativity often flourishes.
Your Starter Guide to Becoming a Later-Life Founder
If you’ve been toying with the idea of launching a business—or simply want to explore what’s possible—start here:
Mine your experience: What gaps, inefficiencies, or needs have you observed throughout your career or life?
Validate the idea quickly: Talk to five people who could be customers or partners. Ask what they’d pay for and what’s missing.
Leverage your network: Reconnect with old colleagues and industry peers. People love helping with purposeful ideas.
Keep it lean: Use free or low-cost tools to test your concept before investing heavily.
Start small—but start: Many thriving ventures began as part-time projects, consulting gigs, or local services.
💡 AI Prompt of the Week: Find Your Third-Act Business Idea
Copy this prompt into ChatGPT or another AI tool to brainstorm what kind of business might fit your experience and goals:
Prompt:
“I’m in my 60s/70s with experience in [insert industry, profession, or skill areas]. I’d like to explore business ideas that align with my interests, use my existing network, and create impact in areas like [e.g., aging, wellness, community, education, or travel].
Please suggest five business ideas I could realistically start now, explain why each fits my stage of life, and outline one small step I could take this month to test it.”
Try running it a few times with different inputs—skills, passions, problems you care about. You’ll be surprised by what emerges.
If you are new to using AI, here’s a quick tutorial.
Final Thought
Entrepreneurship in this stage of life isn’t about starting over—it’s about building on everything you’ve learned. Whether your goal is income, impact, or identity, your third act offers the rare opportunity to create something on your own terms.
If you’re starting to imagine what that next chapter could look like—whether it’s a small side venture, a purpose-driven consultancy, or a bold new business—I can help you design a personal plan that brings it to life.
Retirement doesn’t have to be an ending. It can be your greatest new beginning.
Learn more about working with me → Good Morning Freedom
Cara Gray
Third Act Consultant, CPRC, CEPA™️
P.S.S. If you want to start planning your third act, set up a time on my calendar for a chat: Schedule a Chat with Cara