“You’re only as old as you feel. False: You're as old as how many times the Earth has revolved around the sun since you were born”. – Dwight Schurte
One of the benefits of entrepreneurship is being able to do what you want, when you want, and of course, nobody can tell you “you are too old to do that.”
However, I have discovered that there are a few things that we may be too old to do.
For me, I am too old to wear my hat backwards, too old to let a football game ruin my day, and too old to giggle every time someone says “they do do that.” All of which I still occasionally do.
My kids are the same way.
• Ava is 6 years old. She is too old to sit on the couch and yell for something to drink. She is tall enough to reach the plastic cups and get water from the fridge.
• Lilly is 4 years old. She is too old to get out of bed three times every night. There is no reason for her to tell me that she has to go potty, that it is dark outside, or tell me she likes mermaids.
• Lane is 2 years old. Well, he’s 2 so he gets a pass. For now.
There are several things a business may be too old to do:
1. 1 year old business – This is too old to have an informal bookkeeping system. The “shoebox of hope” may get you by for a month or two, but it is time to use QuickBooks, Xero, or Freshbooks so you can clearly understand where your business stands.
2. 5 year old business - This is too old to forgo employee handbooks, job descriptions, and on-going training for staff. Simply letting everyone do “their own thing” may work for a while, however, a goal and direction for your business is necessary or it will be rudderless.
3. 10 year business – This is too old to have a significant amount of debt and no management structure. Unless you want a haircut like mine, you will want to increase your equity and lessen your responsibility.
4. 20 year business – This is too old to lack a succession plan. Succession planning is a must if you plan on retiring.
So unless you are Betty White, there may be some things you are too old to do.