It is rightly said that “It is never too late in life.” Some entrepreneurs start their success journey at a time when people usually retire. These people had to wait a little longer before making a huge name of their start-ups. Great ideas reveal themselves with time, experience, learning and exposure.
History has seen some successful entrepreneurs who started their start-ups at 40 or above and they still changed the way we live. Many successful entrepreneurs started later in life like J.K. Rowling, Henry Ford, Sam Walton, Julia Child, Ramesh Babu, Oprah Winfrey, etc. The life experiences of these people gave them depth and unique outlook which helped them become millionaires.
Below are some success stories of entrepreneurs who started late in their life and achieved success.
1) Dr. Arokiaswamy Velumani
Velumani was born in a poor family of farmers in Tamil Nadu. He worked at Gemini Capsules, a small pharmaceutical company in Coimbatore as a shift chemist where he earned Rs. 150 every month. The company shut down and he started working at BARC. After 14 years at BARC, he decided to utilize his expertise in thyroid biochemistry. He set up labs with an investment of Rs. 1,00,000 from his provident fund. The labs detected thyroid disorders At the age of 37, he opened his first shop in Byculla, South Mumbai. Today he owns 64% stake in Thyrocare which is worth Rs. 2,158 crore.
2) Ramesh Babu
He is popular with the phrase, “the barber who owns a Rolls Royce.” Ramesh Babu is barber by profession but now he is a millionaire. He bought a Maruti Van with his savings in 1994 and he started renting his car in exchange for money. By 2004, he had established a fledgling car rental business with around 6-7 cars. Within 10 years, he grew his rental business to 200 cars. That’s not all, he has 75 luxury cars which includes Audi, BMW, Mercedes, etc. The ultimate pride of his business is the Rolls Royce. He was the first person to start car rental services of luxury cars.
3) Henry Ford
Henry Ford started the Ford Motor Company at the age of 40. Before this company, he bankrupted his earlier two companies and he faced many hardships due to the past failures. However, he was determined and even failures did not stop him. At Ford Motors, he invested his meticulous mind and perfectionist quality into the production of automobiles. After several years of missed opportunities, he managed to create the biggest self-made fortune for himself ever witnessed in history. His company made an estimated amount of $199 billion.
4) Sam Walton
Walton is the founder of WalMart. He is one of the most successful entrepreneurs of all time who changed the retail business game forever. His journey of WalMart started at the age of 44, Walton took a risk and he opened his first WalMart store. He took a loan from his father-in-law and he purchased a Ben Franklin variety store. After three years, he bought another one about 220 miles away. In 1945, he opened the first WalMart. Since then it is a humongous empire in the retail business. His journey from a store owner to a millionaire entrepreneur started in his forties.
Whether you are in your twenties or in your forties, one big idea and the right execution plan can make your startup successful.
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