Two: Your Network is Your Power

I’ve been invited to numerous networking events, all vying for my attention to join, of course with my membership fees. But I only have so much time. While trust is essential in building a strong network, it’s important to remember that trust isn’t developed just by attending events. There’s usually a common thread of shared experiences and time that strengthens these relationships. Trust doesn’t always take years to build, but it does grow over time. That said, it’s important to recognize the value of contacts outside our immediate network.

I remember a time when a friend's network proved invaluable to me. After discovering that another writer was claiming some of my intellectual property, I hosted a dinner party where this friend immediately connected me with an attorney she personally knew. That attorney contact, who worked in the exact area I needed, saved me from significant losses, including the production team I had already hired for a musical.

This experience highlights how even a friend’s network can have a major impact. Over a lifetime, cultivating trusted relationships creates a web of connections that can offer mentorship, collaboration, and new opportunities. These connections give you access to diverse perspectives and resources, enhancing your ability to succeed. Whether you’re seeking advice or helping others achieve their goals, your network is an invaluable asset that amplifies your impact.

Building Home Depot came with its challenges, but it is now the largest home improvement retailer in the United States, demonstrating how resilience and experience can lead to groundbreaking success. You can read the full story in the book, Built from Scratch.

A lifetime of experiences equips you with the ability to approach challenges from a broader perspective. This perspective fosters empathy, enhances strategic decision-making, and deepens your understanding of human dynamics. Whether managing a team or navigating personal relationships, your perspective allows you to handle situations with wisdom and composure.

Four: The Opportunity to Reinvent

Colonel Sanders (Harland David Sanders, 1890-1980) opened Sanders’ Café, which was attached to a service station in Kentucky. The Shell Oil Company had given him the service station in return for paying Shell Oil a percentage of his sales. It was here that he started serving his fried chicken. In 1935, at the age of 45, he received the honorary commission as a “Kentucky Colonel” by the governor of Kentucky. At age 50, he had finally perfected his “secret recipe” for his beloved fried chicken, prepared in a pressure cooker.

Rodney L. Anderson was a sign painter and he came up with the name “Kentucky Fried Chicken” and Sanders used the name to differentiate his product from the more common deep-fried southern chicken. In 1955 at the age of 65, he incorporated Kentucky Fried Chicken and by 1964 there were more than 600 franchises in the USA and Canada. He ended up selling KFC but continued to tour KFC restaurants around the world as the “face” of KFC. You can read more of the story in Colonel Sanders.

Aging provides the perfect backdrop for reinvention and expansion, as you better understand your true passions and priorities. Whether it’s starting a new career, launching a business, or pursuing a creative endeavor, this stage of life offers the clarity and freedom to align your efforts with what truly matters to you. Reinvention is proof that it’s never too late to grow and thrive. I can imagine that with every visit Colonel Sanders made to a KFC around the world even after selling the company, he felt the impact of creating a legacy with a unique recipe and a solid business plan.

Five: Mentorship and Leadership

Your experience places you in a unique position to guide others. Mentorship allows you to pass on wisdom while reinforcing your leadership capabilities. Younger colleagues benefit from your insights, while you gain a renewed sense of purpose and contribution. This was affirmed in my interview with Naomi Rhode, whom I call a “mentors mentor” in her mid 80’s at the time of the interview. She has literally mentored hundreds, if not thousands of people in her life. Naomi’s perspective broadened my own view of mentorship, as it doesn’t have to be a structured program. A mentor is described in the biblical sense, mostly speaking to women (Titus 2:3-5, written about 64-65 A.D.) as a relationship between someone older to someone younger.

As a historical fact, the very first mentor is assumed to appear in Greek mythology in Homer’s classic The Odyssey, about 800BC. When Odysseus disappeared to fight the Trojan War, going on his ten-year odyssey, he entrusted his friend Mentor with the task of bringing up his son.

I strongly feel the area of Mentorship is needed in today’s society. There are many in their 30’s and 40’s who have gotten their information from multiple sources that may not be entirely healthy and they lack the tools personally as well as professionally. They need to interact with those who have experience, both in life and business who have lived through many of the issues they are facing, even if slightly different. This role of mentorship not only strengthens relationships but also underscores your value within your professional community.

Six: Age is Just a Number

We live in a country of generous givers. According to the National Philanthropic Trust, the amount of charitable giving from middle income earners is approximately $3,296 per year. Americans gave $557.16 billion in 2023. Many give to those organizations aligned with their personal values and beliefs.

Giving doesn’t only have be monetarily. It can be with time or expertise. Many times, the act of giving is a greater gift for those who give than those who receive. I equate this with the joy of giving a toy to a child. When that child starts playing with that toy, there’s a great deal of satisfaction and joy as we see their delight.

Additional Resources

Stories of Entrepreneurs that Started Late in Life

Built from Scratch by Bernie Marcus, Arthur Blank and Bob Andelman

Colonel Sanders Kentucky Fried Chicken Story

Mentorship FREE download

The Value of a Mentor and Mentee article & podcast by Deborah Johnson

Unlocking Success: The Value of Mentorship by Deborah Johnson

Article: Remembering Bernie Marcus