The Enduring Spirit of the Older Entrepreneur: Lessons from Remarkable Leaders
In an era where age is often misconstrued as a barrier, there are numerous examples of entrepreneurs who defy conventional wisdom and continue to thrive well into their later years. At Cutts & Co Accountancy, we believe that experience, resilience, and a passion for work are key factors that contribute to the success of older entrepreneurs. Here, we explore the inspiring stories of several individuals who embody these qualities.
Larry Ellison: The 80-Year-Old Visionary
Larry Ellison, the co-founder of Oracle, is a prime example of an entrepreneur who has managed to maintain a youthful vigour despite his advanced age. At 80, Ellison looks and acts decades younger, thanks to a rigorous regimen of exercise and a strict, health-conscious diet. According to Gina Smith, a former colleague, Ellison’s daily routine includes several hours of exercise and a diet consisting of vegetables, fish and fruit, earning him the label of a veg-aquarian.
Ellison’s commitment to health and wellness is not just a personal choice but also reflects his broader interest in anti-ageing research. His significant donations to this field underscore his belief in the importance of extending healthy life spans. This dedication not only benefits him personally but also contributes to the broader scientific community.
Judy Faulkner: The 81-Year-Old Healthcare Pioneer
Judy Faulkner, the founder and CEO of Epic Systems, is another exemplary figure. At 81, Faulkner continues to lead her company with the same energy and vision that she had when she founded it in 1979. Epic Systems, with its 4.9 billion pounds in annual revenue, is a testament to Faulkner’s enduring leadership and innovative spirit. Despite her age, Faulkner has no plans to retire, believing that if you retire, you do not have a purpose in living anymore. Working keeps you alive and going.
Faulkner’s approach to business is as unique as her approach to life. She has ensured that Epic Systems remains private, independent, and employee-owned, a decision that reflects her commitment to maintaining control and integrity over her life’s work.
I. Roy Cohen: The Centenarian CEO
I. Roy Cohen, who celebrated his 101st birthday recently, offers a compelling narrative of ambition, hard work and longevity. Cohen’s career spanned over five decades, culminating in his role as CEO of a pharmaceutical firm. Even in retirement, he remains active, managing his finances, overseeing home renovations, and engaging in philosophical pursuits.
Cohen’s secrets to a long and fulfilling life include a strict adherence to the Mediterranean diet, daily physical exercise, and a constant engagement in mentally stimulating activities. His advice to stay ambitious, take risks, and maintain a positive attitude is invaluable for entrepreneurs of all ages.
Embracing Age as an Advantage
The stories of these entrepreneurs highlight a crucial point: age is not a barrier to success but rather a source of strength. Experience and resilience are key assets that older entrepreneurs bring to the table. As Sharon Santoni, who started her blog at 51 and turned it into a successful business, notes, age should never be a barrier to entrepreneurship, and with the right tools and mindset, success is always achievable.
Older entrepreneurs often possess a wealth of experience and a deep understanding of business dynamics, which can be particularly beneficial in navigating complex market conditions. Their ability to build strong, successful businesses is rooted in their confidence and the respect they earn from their peers and younger colleagues.
Practical Tips for Older Entrepreneurs
Maintain a Healthy Lifestyle
Regular exercise and a balanced diet are essential for physical and mental well-being. Larry Ellison’s and I. Roy Cohen’s emphasis on health-conscious living is a clear indicator of its importance.
Stay Engaged and Active
Whether it is managing finances, overseeing projects, or engaging in hobbies, staying active keeps the mind and body sharp. Judy Faulkner’s continued leadership at Epic Systems and I. Roy Cohen’s various retirement projects are exemplary.
Leverage Experience
Older entrepreneurs have a unique advantage in terms of experience. This wealth of knowledge can be used to build strong, successful businesses and earn the respect of younger colleagues.
Keep Learning
Embrace new challenges and continue learning. This open-minded approach keeps one relevant and engaged in the ever-changing business landscape.
Conclusion
The stories of Larry Ellison, Judy Faulkner and I. Roy Cohen serve as powerful reminders that age is not a limitation but an asset. At Cutts & Co Accountancy, we celebrate the spirit of these older entrepreneurs who continue to inspire and lead by example. Whether you are just starting your entrepreneurial journey or are a seasoned veteran, the lessons from these remarkable leaders can guide you towards a path of success and fulfilment, regardless of your age.
