Karen Hastie turned 60 this year. At an age when many would be slowing down and preparing for retirement, she's launched a new venture– the Chamber Perks App, which helps Canadian and U.S. chambers of commerce add value to their members.
Hastie has always been an entrepreneur, she told Business Insider. Her first job out of college was launching a fitness store chain that eventually spread across Northern Ontario. She ran that business for more than 30 years before eventually selling it for seven figures during the pandemic.
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With the financial freedom the sale brought her, many assumed Hastie would retire. However, she told the outlet she felt like she still had more to give.
"I asked myself, ‘What do I really want to do with this next chapter?'," she said. "I’ve always been passionate about helping small businesses, so I began consulting and mentoring entrepreneurs in my community."
After she began volunteering with a local chamber of commerce, she came up with the idea for her app. Getting it off of the ground felt like "the perfect next step," helping small businesses solve real problems.
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While Hastie was confident in her ability to run a company, she also realized there were gaps in her expertise that would necessitate building a strong team. She brought on Silicon Valley veterans and younger employees who could help bridge generational gaps in the industry.
The Chamber Perks team has had quite a bit of success thus far. Hastie says they currently have 400 clients in Canada and another 7,500 in the U.S. While maintaining that level of success takes quite a bit of work, often requiring her to put in 60-70-hour weeks, she doesn't mind.
"When you love what you do, it’s enriching," she told Business Insider.
Hastie encourages others who are retirement-aged to find something they feel passionate about to fill their time with.
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"I love to golf and travel, but that isn’t fulfilling for me," she says. "I need purpose. For me, retirement means having the freedom to do work you love without the pressure of providing for your family."
"My advice to anyone thinking about launching a business later in life is to find something you love, surround yourself with people who complement your skills, and don’t be afraid to take the leap," she says.
While she has no plans to slow down anytime soon, Hastie acknowledges that for founders her age, it’s essential to have an exit strategy.
"This isn’t another 30-year run for me — God willing, I’ll still be around at 90, but the plan is to position the company for an acquisition or a more hands-off role for me within the next few years," she told Business Insider.
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