A lesson from cake mixes

There are plenty of people who achieved success after 50. One such person would wind up lending his name to one of the most ubiquitous cake mixes of all time: Duncan Hines.

At age 55, Mr. Hines wrote his first food and hotel guide, one in which he referenced Harlan Sanders of Kentucky Fried Chicken fame, as inspiration.

By age 73, Mr. Hines had licensed out the right for his name to be used on Duncan Hines cake mixes. Today, his name of one of the most recognizable in confectionery goods.

So, how did he do it?

• Articulate the problem: People pay for goods or services to provide solutions to a problem. Can you solve it better than someone else?
• Address income needs: For the most part, entrepreneurs over 50 have a bit of corporate burnout. As such, it’s important to determine if your income needs match your desired workload.
• Be willing to learn: Sure, you’ve seen it all, but even when you launch a business later in life, there is still much to learn. Fortunately, investing in a franchise provides you with an easy path to learning your new business.
• Learn new technologies: The world goes through big changes every ten years. Are you ready for it? Embrace new technologies and become wise to advanced new methods of getting the job done.

The fact is, starting out on a new adventure over 50 isn’t as hard as many think, especially when you consider the huge reward potential and slimmer risk profile of franchising.

So, what are you waiting for? It’s time to embark on your twilight career and set yourself up for ultimate success after 50!