Lessons from Starting a Business at 65 with Sandra Scheinbaum

 

A young genius comes up with a visionary idea.

Next thing you know, investors are throwing millions of dollars his way. Or she bootstraps her way from zero to six or seven figures in revenue, and beyond.

These are the kinds of stories we see all the time – in the news and online.

But they don’t reflect the reality at large.

Here’s something we don’t talk about enough…

The most successful entrepreneurs are people over 35. Not only do they start businesses more often – they have a much better success rate (as this WSJ story explores)!

Older entrepreneurs have a lot going for them. They have more experience, more opportunities for self-funding – and more incentive to avoid the toxic, unsustainable “work-yourself-to-death” culture that plagues younger founders!

(Sacrificing health for work is a young person’s game. And even then, it’s stupid!)

Just by existing, they force us to reexamine our notions about success: what it means, when you’re supposed to have it all figured out, and what it really takes to achieve it.

That’s why, when we had a chance to interview Dr. Sandra Scheinbaum, who started a business at 65, we couldn’t possibly pass it up.

And not just any business… her first business! So we invited her on the podcast to share what she learned.

Dr. Sandra Scheinbaum is the founder and CEO of the Functional Medicine Coaching Academy – an Institute for Functional Medicine collaboration that is the global leader in Functional Medicine health coaching.

Before starting FMCA, Dr. Scheinbaum was a licensed clinical psychologist for over 35 years. She specialized in blending mind-body medicine with positive psychology. Dr. Scheinbaum established a clinic for children and adults with attention deficit disorders and also ran a practice for treating panic and anxiety. She conducted one of the first controlled studies of neurofeedback for the treatment of ADD.

Dr. Scheinbaum is the author of “Functional Medicine Coaching,” “Stop Panic Attacks in 10 Easy Steps,” and “How to Give Clients the Skills to Stop Panic Attacks.” She is passionate about jumpstarting the Functional Medicine revolution by training the best health coaches in the world. She believes that with a coach’s support, anyone can take ownership of their health.

In case you’re worried (or excited) that we’ll spend the entire episode nerding out about health… we won’t. You’re welcome – or sorry about that, whichever applies!

Instead, Summer and Dr. Scheinbaum will be diving deep into the different aspects of starting and running a business from the perspective of an older entrepreneur. They’ll discuss how to overcome a lack of experience, balancing work with self-care, hiring a remote team and keeping them productive, and much more.

Honestly, it’s mind-blowing just how many challenges Dr. Scheinbaum had to overcome to start and grow her first company. So the fact that she openly shares her biggest takeaways from this experience is what makes this week’s episode so awesome!

We hope you enjoy listening to it as much as we loved producing it. And now, without further ado, we’ll let Dr. Scheinbaum and Summer take it away!

Get the Full Transcript Here

Here’s what you will learn:

[00:15] Introducing Sandra

[03:25] Starting a company at 65 instead of retiring

[07:49] How Sandra overcame the challenges of entrepreneurship with little to no experience

[10:49] Managing a large remote team

[14:30] What was Sandra’s biggest failure?

[16:36] Taking risks in starting a business

[20:46] Leveraging Character Strengths to Thrive

[22:54] “But I’m unqualified to run a business!” Overcoming the impostor syndrome

[24:49] How to (realistically) apply new ideas to your business

[27:55] Hiring the right people

[31:14] Balancing work and self-care

[33:19] Where you can find Sandra

Resources from Charles:

Functional Medicine Coaching Academy website

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