Becoming an Entrepreneur at 46: My Journey Amid Personal Challenges and Financial Pressures
Starting my unexpected second act at the most difficult and stressful time in my life and making it successful in a very short space of time.
Starting a business is a journey filled with excitement and potential, but it can also present significant challenges, especially for those of us who embark on this path later in life. At 46, I really wasn’t expecting to set up a business and for it to take off so quickly. In a way, I had no choice.
I founded Antony Harvey Executive Limited in late 2025 while navigating personal obstacles that tested my resilience to is very limit (and maybe beyond), twelve months before, my wife was diagnosed with a rare and aggressive form of cancer. Not a regular cancer, this was something none of us saw coming in our wildest dreams (we easily had better odds of winning £100milion on the Euromillions) - instead, we came very close to losing a funny, caring, kind, generous and very beautiful woman just a couple of months after her 40th birthday. A 22 hour operation to remove the tumour which had rapidly grown to the size of a grapefruit (probably slightly bigger) was a success but both radiotherapy and chemotherapy would follow along with a year of recovery, and then a 15 hour initial reconstruction operation. Oh, and our son had just turned 10 months’-old when she was diagnosed and I had to face the very real prospect of becoming a single parent.
You can read my wife’s Substack here.
Work were helpful and generous but I had to take a year off and over that time, started thinking about life beyond being employed. Doing something for myself, taking charge of my own life, the hours I work and what I do during those hours.
I had minimal startup capital but working from home didn’t have too many overheads and I’d just win some work, I’m well connected in both the public and private sectors. Easy! Clearly, I have a high risk appetite; my wife and friends put it less politely.
The Case for Mid-Life Entrepreneurship
When I decided to become an entrepreneur, I was aware that I was part of a larger trend. According to the Global Entrepreneurship Monitor, individuals aged 45 to 64 represent an increasing share of new business owners. In fact, a report from King’s College London revealed that 35% of UK businesses are started and run by people over 50 (I’d just turned 46 when I founded Antony Harvey Executive). Hearing that statistic helped fuel a passion that age can be an asset in entrepreneurship; wisdom, experience, and a vast network.
My Background and the Reality of Starting a Business
Before starting my own firm, I had a successful 20 year career in executive search, where I specialised in identifying and placing top executives in various industries ranging from the private sector, through to central government and higher education. Career coaching, advice on building teams and helping senior executives get the very most out of themselves and their teams was very much part of the job; especially the four years I spend in management consulting at PwC.
My entrepreneurial journey was not easy. I’ve done the whole thing so far with the usual issues that come with starting a business accompanied by my wife’s cancer treatment/recovery, a major lack of funds and a very energetic young man hitting his “terrible twos.” Balancing all these demands is probably the biggest challenge I’ve ever faced but I did my best to face it with a smile on my face. Sometimes I managed to keep it there. I spend a lot of time feeling completely exhausted. But I wouldn’t turn back for all the tea in Fortnum & Mason.
One of the most unexpected challenges I faced was the financial pressure of waiting for clients to pay invoices. Despite legislation like the Small Business, Enterprise and Employment Act 2015, which mandates larger companies to report their payment practices, the reality I encountered was that many clients delayed payments.
According to the British Retail Consortium, late payments lead to approximately £38 billion in outstanding bills, contributing to the closure of 38 small businesses every day. This was a harsh reality I had to navigate, as I needed to maintain cash flow to support my family and my newly established business. We are still waiting to be paid on invoices that date back to December last year and this is putting serious pressure on both my business and my family lives.
Learning on the Job
As I worked to establish the business, I quickly realised that I needed to learn new skills on the job. I had to build a website from scratch, which was an entirely new experience, set up email addresses and get on top of IT issues. I watched countless tutorials, read articles, and asked for advice from friends in various industries. The learning curve was steep, but I was determined to create an online presence that reflected my expertise and services. Additionally, I had to familiarise myself with accounting basics to manage my finances effectively, ensuring that I could keep track of expenditures and revenue streams as well as ensuring HMRC deadlines were met, thank you Xero!
The steep learning curve was not unique to my experience. Many mid-life entrepreneurs face similar challenges. Research indicates that adults launching businesses later in life often grapple with technology and business management tasks that they may not have encountered in their previous careers. Embracing these new responsibilities can be daunting, but it can also be incredibly rewarding. I’m a curious person anyway and enjoyed looking at and playing around with some interesting products. I don’t want to build an empire so I’ll never need to learn the more complex stuff.
Rapid Diversification and Meeting Client Needs
As I began to establish my business, I quickly discovered that my clients were looking for more than just traditional executive search and coaching services. Many requested my assistance in ghostwriting blogs and proposals, which opened up a new avenue for revenue. This rapid diversification allowed me to expand my offerings and tap into different income streams. I enjoy writing anyway and have lots of experience when it comes to proposals so I’ve been able to add some serious value.
I’ve also been asked by several organisations to give talks on mid-life entrepreneurialism as well as resilience, based open my experience with establishing Antony Harvey Executive, my wife’s health and toddler. This is something I really enjoy and hope to do a lot more. Get in touch if you’re interested.
I took to platforms like Substack and LinkedIn to share my insights and commentary on industry trends. This has also been a crucial step in building my personal brand and an unexpected success; the demand for engaging content led to a lot of the opportunities I’ve just outlined. In today’s digital landscape, where online content is essential for building a brand’s reputation, this pivot became a surprising and quickly essential part of my business strategy.
The coaching aspect of my business also took off quickly. I began offering coaching sessions to executives and professionals seeking guidance in their careers, and through word-of-mouth referrals, I quickly built a reputation for delivering valuable insight and putting people at ease. I found that my existing contacts were instrumental in helping me gain traction; I could establish a solid client base while managing the complexities of my personal life.
Strategies for Success
Despite the myriad challenges, I implemented several strategies that contributed to my rapid success:
Leveraging Experience and Networks: Drawing on my professional background, I tapped into my established network to secure clients. My experience in executive search proved invaluable in understanding market needs and positioning my services effectively.
Fundraising Initiatives: To alleviate some of the initial financial pressures, I set up a GoFundMe page. This decision was not easy, but it demonstrated the power of community support and provided necessary financial backing that motivated me to persevere in my entrepreneurial journey. I’m yet to hit my ambitious target so please donate if you can.
Focused Branding: Establishing a clear brand identity centred on personalised service within the business advisory and executive search industry allowed me to attract clients.
Continuous Learning: Embracing ongoing education became crucial in an industry shaped by rapid technological advancements. Staying abreast of new tools and methodologies helped enhance my service delivery and client satisfaction.
Be flexible: If clients are asking me to ghostwrite blog posts, articles, proposals etc or do motivational talks to staff, then be open to those options if they’re financially viable.
Building a Support Network: Surrounding myself with fellow entrepreneurs, mentors, and advisors provided critical support and guidance. Networking opened doors to further opportunities and connected me with individuals who shared their experiences and offered invaluable advice. Plus of course having a great family including two fantastic sons, a toddler and a teenager, and a great bunch of mates.
Reflecting on my journey, I can confidently say that becoming an entrepreneur at 46 is both challenging and fulfilling, especially when personal circumstances add layers of complexity. My experience in founding Antony Harvey Executive Limited amidst my wife’s health challenges and caring for a young child underscores the resilience and determination that characterise late-in-life entrepreneurship; I know I’m not alone in this respect.
Although I faced additional challenges like limited startup capital and the pressures of delayed client payments, my resourcefulness and commitment have shown me that it is possible to pursue my passion and build a meaningful business. As I continue to navigate this entrepreneurial landscape, I hope my story inspires others to consider the immense potential that lies in starting a business, regardless of age or personal circumstances.
As I mentioned above, I’ve been invited by a number of organisations in business, not for profit and the public sector to give talks on subjects like entrepreneurialism, following your dreams and personal resilience. If you are interested, do please contact me.