Entrepreneurs, our mind paints the picture of a young person, all bright-eyed and ready to take on the world, full of courage and unwavering self-assurance. We won’t be wrong in imagining this. But, let us not forget the young at heart when doing so. Entrepreneurs who started a business after gaining experience and knowledge or who just struck the idea in their late years.
Kentucky Fried Chicken, known to the world by the acronym KFC was founded by Colonel Harland David Sanders during The Great Depression. He found the potential for a business in his recipe and opened up the first KFC in Salt Lake, Utah. At the age of 65, his first attempt at business failed but this didn’t deter Colonel Sanders. He devoted his late years to ensuring that KFC was a success and in the end, the response he received was so overwhelming that he sold the company to investors retaining only the rights to operations in Canada. His retirement plan was different as he saw the potential for his creation and was adamant in ensuring he saw his dreams to the end.
McDonald, though it wasn’t founded by Ray Kroc, he is responsible for the company’s huge growth from being a local chain to the international brand that it is today. He joined the company at 52 as a franchise agent. Impressed by the simple efficiency of the operation, he saw the potential for a franchise and founded the McDonald Systems Inc which is now known as The McDonald Corporation.
Vera Wang, her name is synonymous with the ultimate wedding gown designs. The world’s most sought after fashion designer went from writing about them to being one. She worked as a fashion journalist and started designing for Ralph Lauren from 1987 till 1989. Appalled by the slim selection of wedding gowns, at 39, she designed her own wedding dress and at 40, she resigned her job to establish her design studio in New York City that featured her trademark wedding attires. Her name is a brand in itself and she caters to celebrities and socialites.
The business world is being taken up as a retirement plan for those who don’t want to settle and sit back. The advantage of these people is that they have abundant knowledge and know how to handle situations and when to react. This provides them with an edge over the young CEOs and founders.