Seniors, who want to go into business for themselves, face a lot of hurdles. If they need venture capital, the lenders they contact are often reluctant to offer assistance. They sometimes question the retiree's age and stamina. Bankers may believe that the global marketplace is too competitive for seniors, and they worry they won't get their investment back before the senior is permanently out of the picture. Underestimating baby boomer entrepreneurs however, can result in missed opportunities.
Investing in boomers can be a very good idea. They have decades of experience under their belts and may be well suited to all kinds of new careers. Even if the senior is interested in branching into a new area, it is not difficult to apply the knowledge learned from previous enterprises to new ones. Boomers understand the value of hard work. Unlike the younger generation, these people remember life without computers and cell phones.
A lot of boomers who thought they were going to love retirement have revised their opinions. Waking up every day with nothing pressing to do does not agree with all of them. Many seniors crave the excitement of mentally stimulating work. They can get enthusiastic about a new venture where they make the decisions for themselves and get a chance to try new things.
Most older entrepreneurs have weighed the risks associated with starting a business and decided it is worth it. They don't have as much to prove as their younger counterparts, and they are often more single minded. Their goals tend to be shorter term and more realistic. These are people who would like to get back into the working world, but they want to do something they love. It isn't just for the paycheck.
Money is important to boomers, and some of them are faced with not enough money to get them through the last part of life. For these people going back to work may be a necessity. Others are more concerned with the quality of their life and getting back the sense of accomplishment they felt before retirement.
Potential investors should consider the fact that boomers don't have the distractions that younger entrepreneurs often face. Seniors have already raised their families and been through all the childhood ailments and problems that keep young parents away from work. Boomers are ready to focus on the job at hand without having to worry about children and house payments.
Once they get the capital a lot of young entrepreneurs ignore the concerns of their investors. Older business owners understand those concerns and go out of their way to address them. These are people who have spent years in budget negotiations, annual planning meetings, and have learned how to deal with money partners. Repaying loans on time with interest is nothing new to them.
Starting a new business is not right for every senior. Many of them are happy to spend their retirement in the garden or traveling around the world. For a few however, this is a time to explore new business opportunities and see what comes of them.
Investing in boomers can be a very good idea. They have decades of experience under their belts and may be well suited to all kinds of new careers. Even if the senior is interested in branching into a new area, it is not difficult to apply the knowledge learned from previous enterprises to new ones. Boomers understand the value of hard work. Unlike the younger generation, these people remember life without computers and cell phones.
A lot of boomers who thought they were going to love retirement have revised their opinions. Waking up every day with nothing pressing to do does not agree with all of them. Many seniors crave the excitement of mentally stimulating work. They can get enthusiastic about a new venture where they make the decisions for themselves and get a chance to try new things.
Most older entrepreneurs have weighed the risks associated with starting a business and decided it is worth it. They don't have as much to prove as their younger counterparts, and they are often more single minded. Their goals tend to be shorter term and more realistic. These are people who would like to get back into the working world, but they want to do something they love. It isn't just for the paycheck.
Money is important to boomers, and some of them are faced with not enough money to get them through the last part of life. For these people going back to work may be a necessity. Others are more concerned with the quality of their life and getting back the sense of accomplishment they felt before retirement.
Potential investors should consider the fact that boomers don't have the distractions that younger entrepreneurs often face. Seniors have already raised their families and been through all the childhood ailments and problems that keep young parents away from work. Boomers are ready to focus on the job at hand without having to worry about children and house payments.
Once they get the capital a lot of young entrepreneurs ignore the concerns of their investors. Older business owners understand those concerns and go out of their way to address them. These are people who have spent years in budget negotiations, annual planning meetings, and have learned how to deal with money partners. Repaying loans on time with interest is nothing new to them.
Starting a new business is not right for every senior. Many of them are happy to spend their retirement in the garden or traveling around the world. For a few however, this is a time to explore new business opportunities and see what comes of them.
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