When one pictures an entrepreneur, one thinks of youngsters - rarely does one picture a silver - haired entrepreneur! However, studies have shown that time is your friend – the older you are the more likely you are to succeed, as is demonstrated by Vayah Vikas members - Ms Padma Prabakaran and Retired Wing Commander Thomas Verghese who are both successful senior citizen entrepreneurs.
Ms Padma Prabakaran was 60 when she started her own training institute and three years later, her enterprise is thriving - BLOOM Training Academy organises workshops and skill programs for school children, parents, corporates and senior citizens.
Retired Wing Commander Thomas Verghese took early retirement from the Air Force and founded Project Vishram, an app that enables seniors to live independently in their own houses rather than isolated in Old Age Homes or dependant on family members. Further on, he started another endeavour - ‘Sky Blue Alert Services’ also for older adults.
Knowing Your Domain Helps You Succeed:
Padma was working in public sector bank when she realised that the staff needed to work on their communication skills. As a result, she studied customer service with Indian Institute of Banking and Finance, became a Public Relations Manager organising corporate events and then progressed to marketing. Further improving her skills, she got certified as a soft skills and memory trainer. While still working she helped children, improving their memory and study skills. She also taught communication skills and time management to corporates.
Thomas is a highly ambitious engineer from IIT Chennai, whose dream was to become Air Chief Marshal. However, he changed direction in order to to lead a purposeful Life and make a difference to others. He benefitted from his time with the Air Force as he gained confidence through meeting challenging situations head on. He also got the chance to develop his inter personal skills.
Entrepreneurship is Hard Work
Starting and running a business is hard work and can be both rewarding and challenging. Soon after Padma started “BLOOM”, Covid struck and she had to struggle to succeed. As for Thomas, he has had a hard time getting his projects up and running, but has continued undeterred.
Tap into Professional Resources
You have to be willing to take help when you need it. Padma branched out into Yoga, Fitness & Nutrition when she saw that there was a demand for it. Not being an expert in these subjects she appointed instructors who could teach these subjects online.
Thomas tried to get an app built by a well-known IT company for project Vishram, but that did not turn out well. Trying again, he participated in “Smart Fifty” sponsored by Government of India and IIM Calcutta, whereby the top fifty selected start-ups get assured funding. There were 15,000 applications worldwide, his project was selected in the top 300, but not the top 50. He continues to look for funding to get an app built for Project Vishram.
Flexibility can be the Key
However well you may have thought out your business plan, flexibility is key - Padma had to switch tracks and move all her training online during the pandemic. Always willing to learn, she has built her Company’s website with help from her Computer Engineer son, who encouraged her. Padma, now updates and maintains the Company website, manages social media and her daughter helps with digital marketing.
When Thomas had problems developing Project Vishram, he came up with a new plan - free Sky Blue Alert Services. These are small WhatsApp groups of 5 to 8 senior citizens who may live anywhere in the world. The concept is taken from the Air Force: a ‘Sky Blue’ message means all is fine – no accidents, no fire, no riots, no intrusions from the enemy. Similarly, every morning every senior citizen has to send a ‘Sky Blue’ message within 10 am in their WhatsApp group, which means all is fine with him or her.
It Helps Being Intrinsically Motivated:
Successful people are often motivated by something more than simply making money or gaining external rewards. Money is an extrinsic motivator that could inhibit you from having the creativity and freedom you need to build a successful venture. Intrinsic motivation leads to self-belief and persistence, two traits necessary for a successful enterprise
Both Padma and Thomas are committed to public service without thought to the profit motive.
Padma and her team teach spoken English to schools in rural areas free of cost. “God has given us so much, I’d like to give back, like to share. Helping society, helping people. Setting an example.”
Project Vishram is a not-for-profit enterprise that has enabled Thomas to take some risks that he might not have taken, if profit had been his only motive.
**Ignore the Naysayers **
Padma’s father, who is 90+, advised her to relax for a while after retirement, but she thinks that a sedentary lifestyle stagnates you! The mantra she lives by is, “Be active, interact with people, have a positive attitude and that will give you a purpose in life. Inaction can lead to negative thoughts and depression.”
Thomas says, “People will criticize but you do what you want to do. Accept whatever comes.”
Build on Your Strengths
Padma loves being with people, either on the telephone, online or offline – it’s the interpersonal relationships that keep her on the move. And adversity doesn’t deter her - soon after she started Bloom, she had to have knee replacement surgery, and took a break for about 5 months. Her recovery was painful but with physiotherapy she slowly got better. The surgery did not stop her from taking up various activities - knitting, crocheting and gardening with the help of her grandchildren! She advises channelling your energy, knowledge and experience with the people around you. Knowing that keeping herself mentally fit was important during the pandemic, she learnt Sanskrit and is currently learning German online, along with her grand-daughter.
Thomas’ positive attitude has kept him going, “I never quit! I keep changing – doing different things. Some things click others don’t.” His father died when he was very young and his mother was a school teacher and he imbibed the values that she taught. “If you put me on the road I will probably survive. A lot depends on our mental attitude.” His spiritual upbringing and his school teachers motivated and inspired him. He believes, “Whatever you do should be worthwhile. While you’re living you can make a small change to the world, even 0.00001% will make a difference to someone.”
Taking Inspiration:
Padma and her team taught spoken English online to students of a rural school. At the end of the academic year, they went to the school to award certificates to the pupils. The team met their students, the staff and principal, in person, for the very first time and were overwhelmed by the warm reception they got. The village headman turned up and requested them to teach English to the village children, in other schools as well! In spite of this being a voluntary activity, Padma found this experience fulfilling and inspirational.
Thomas is an avid reader and over the years many books have inspired him. Chief among them have been: ‘Creation of Wealth’ by R M Lala, ‘Tough Minded Optimist’ by Norman Vincent Peale, ‘Tough Times Never Last - Tough People Do’, ‘Possibility Thinking’, & ‘Success is Never Ending - Failure Never Final’ all by Robert Harold Schuller.
It’s Not Too Late:
It is not too late - your age does not determine entrepreneurial success; your state of mind does. If starting a new project is something you are considering, all the data points to the likelihood of your success.
Advise to Aspiring Seniors
Padma advises: “Be calm and accept your age. Write down your strengths and weaknesses. Keep fit, do best with whatever strengths you have. Do not get cowed down and above all don’t listen to negative comments.”
Thomas says that it doesn’t help to complain about insufficient pension or too much tax. “Better to see life as a glass half full rather than half empty.” Above all his philosophy is “कर्मण्येवाधिकारस्ते मा फलेषु कदाचन। मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि॥", meaning “Do your duty with no reference to the outcome that may be good or bad. Continue your efforts, whatever the result.”
- By Anita Natu
References: