We’re Pleased to Present the StartupNation Boomer Blog
Hi, I’m Jeff Williams, Boomer entrepreneur and chief coach for Bizstarters, and now the newest blogger for StartupNation.
I’m very pleased to be joining the network of experts who provide advice and thoughtful perspective through the various blogs presented on the StartupNation website.
You may be wondering why we’ve added a blog specifically aimed to the concerns and needs of Boomer entrepreneurs.
There are a number of reasons.
1. The Boomers need help with a unique work-related challenge.
According to a 2004 survey commissioned by AARP, more than 75% of individuals born between 1946 and 1964 (The Baby Boomers) indicated a strong intention to continue working into their sixties, and sometimes beyond.
This means that 75% of 76 million Americans, or more than 57 million individuals, want to keep working for a decade or more into the future.
But many 50+ Boomers in particular are being pushed into early retirement, being downsized or being told by their corporate employers that there really isn’t room for them after age 60.
So if there aren’t enough corporate jobs to go around for the older Boomers, what’s their alternative option for continued income-producing work?
More and more Boomers are choosing some form of entrepreneurial activity as their preferred alternative to the corporate world.
In fact, the number of self-employed people over age 50 has increased 29% since 2000 and for the past five years, individuals age 50-62 have been the fastest growing group of new business owners in the U.S.
After a 30-year-plus corporate career, many Boomers are considering an entrepreneurial venture for the first time in their adult lives. The sheer number of prospective Boomer entrepreneurs demands an aggressive effort to provide entrepreneurial assistance to them.
StartupNation is dedicated to assuring that a diverse assortment of knowledge, advice, training and coaching are available to all new Boomer entrepreneurs. Our new Boomer Blog is intended as an important source of two-way communication with prospective and current Boomer entrepreneurs.
2. Boomers express a different entrepreneurial outlook than younger people.
Although entrepreneurs of all ages tend to share some common traits, such as unbounded optimism, many Boomer entrepreneurs differ from their younger counterparts in the their willingness to balance income-producing potential with the freedom to enjoy their desired lifestyle.
For example, some Boomer business owners specifically create business operations that can be run from more than one physical location, or run part of the year.
I will offer a regular feature in the Boomer blog where I will report on interesting Boomer entrepreneurs who run businesses that feature a successful blend of work and leisure.
3. Boomers have a lot of experience and talent and want to share them.
By the time an individual has worked for thirty years or more, he has accumulated a diverse set of work and life experiences, many of which can form a solid foundation for starting and running a business.
I welcome the readers of the Boomer blog to share their thoughts and talents with each other.
4. Many Boomers want to do well and do good at the same time.
Many of the most generous donors to worthy causes in the U.S. and around the world are Boomer entrepreneurs who share their time and financial support with a wide variety of deserving organizations, ranging from Big Brothers and Sisters to Unicef.
A regular feature of the Boomer blog will be my interviews with philanthropic Boomer entrepreneurs.
We Boomers are nowhere near ready to stop contributing to the world or enjoying new adventures in life.
For an increasing number of us, running our own business provides the perfect opportunity to combine both.
June 22nd, 2007 at 4:00 am
I must agree Jeff,
I think the difference has a lot to do with the energy levels of Boomers and how skilful they (we) are at making the best use of that energy. In a way we are no different to any entrepreneur - we need to make the best of what we have got.
I was working with a business owner recently helping him to identify clear goals and prioritise activities that will lead towards the achievement of those goals. I come at this very much from the psychology perspective. Before I started creating businesses I spent years training as a psychologist and running an entrepreneurship centre in the UK. It was funded by Barclays Bank and based at the University of Durham.
I dont think it is too difficult to do the goal setting thing - I think the challenge ememrges when we waste our energy and get distracted into ‘other’ stuff.
This is as much a personality thing as it is a business issue.
Best Wishes
David
http://www.21stcenturyentrepreneurs.co.uk
June 22nd, 2007 at 12:56 pm
Hello David,
I appreciate your accentuation of need for Boomer entrepreneurs to carefully consider their whole desired lifestyle before starting the entrepreneurial plunge.
Often a big dose of reality must be exercised, such as when the 50+ telecommunications engineer came to my entrepreneurial coaching company with a business idea and the "need" to make $150,000 the first year - working only 10-20 hours per week!
It’s quite possible to do this, but not with the business concept he offered.
I advised him to keep the business idea, and revise downward his first-year income goal so that he could lead the lifestyle he desired.
July 11th, 2007 at 3:03 am
Hello Jeff.
I keep coming back to the issue of prioritisation. What is it that demands my immediate attention (phone calls, emails etc) and what is a priority for the business. It becomes increasingly important to make the most of your time. At the moment we have a few weeks ’space’ to revise our products and put a few systems in place. This isn’t immediate, but will reap great benefits in the longer term. If your business owner wants to make $150K in year one he will need to be very focused and have an excellent business generation model in place. Good luck I say, but sounds like a challenge.
David
http://www.21stcenturyentrepreneurs.co.uk
July 12th, 2007 at 3:04 pm
Mr. Williams,I appreciate and want to personally thank you for the implementation of this new source of communication. It has already been a very important source of help to me personally. I’m presently at home because of surgery on my right hand. (I am right-handed) I must have the wrap on my hand for the next two weeks. But I’m doing quite well with my left, although it’s a bit slower. (like 1 or 2 finger typing):)
I’m using this time and the internet to get more informed and reach areas of the "informational world" like I never have before. I actually started Monday morning, 07/09/07, getting into, searching out and getting involved in this "world-wide blogging arena". My hopes are to be pretty well established in a short period of time with assistance that I now see is readily available. I want to thank you for the efforts you all are putting forward and I will be praying for your success in assisting others and myself.
You will definitely be hearing more from me in the near future, especially when I’m able to use my right hand. Not being able to use it very well stops me from performing the tasks I need to do to get things going. But the "still time" is very important, because I’m using the time to really get focused.
Again, thanks for your assistance and I wish you all, all the best!
rikobe
March 5th, 2008 at 6:44 pm
I think this is a great idea. My years with big companies did not hurt me when I decided to do my own thing which has nothing to do with what I did in my former lives.
There is something to be said about the work ethic our generation brings to the table and our ability to finish a job. I challenge my employees to keep up with me and rarely get anyone to take me up on the challenge.
Keep up the good work. I applaud your efforts.
September 8th, 2009 at 5:27 pm
I’m glad to find this blog. I hope to get information I can use in my search for online opportunities. Hope to have some contributions in the future.
Take Care
December 7th, 2011 at 5:25 am
Joel, this is a brilliant blog and I’m looking forward to following it.
Boomers have energy, experience, the work ethic and the willingness to share their knowledge.
Excellent initiative!