Its A Booming Time For Business
Its A Booming Time For Business
As a result Baby Boomers are not slowing down now that they're approaching what once would have been considered their "golden years." If you were a man you expected to retire at 65 and die at 75; and if you were smart you banked enough dough to see you comfortably through that stretch. We figured we'd get at least 10 good leisurely years before the grim reaper shows up without having to worry about money. Turns out, we were wrong.
Leave it to modern medicine and Mother Nature to throw a monkey wrench in our plans. People are living longer, which is one of those good news/bad news scenarios. It's good that you're living longer, but it stinks that you have no idea how you're going to finance all that extra life. Who wants to live forever on a diet of crackers and cat food? Certainly not me and I expect, not you. And do me a favor: if you see me thirty years from now passing out buggies at Wal-Mart, please, just kill me where I stand. You'll be doing me and all Wal-Mart shoppers a huge service.
Personally, I think Viagra is the reason men are now living longer. Let's be honest; if a man thinks there's still a chance of getting lucky when he's in his eighties he'll hold on for dear life. And women are living longer because they know old men couldn't survive without them. We'd never find our car keys or our pants or our reading glasses or our way home from the drug store.
Being your average, white male in good health, I can now expect to live into my eighties if I can avoid an unexpected heart attack, getting creamed by a runaway truck, or the wrath of my lovely wife (who I believe is actually killing me a little every day).
And by the time I get to eighty years old someone will have discovered a pill that extends my life into the hundred and ten range. Personally I don't think I want to live to be a hundred and ten. I'm crotchety enough now in my forties. Imagine what a pain in the backside I'll be fifty years from now.
All kidding aside, older Americans are finding that they have the time, energy, desire and, sometimes, the need to start their own business. I talked about the insurgence of older entrepreneurs in this column two years ago and as I predicted then, the trend toward elder entrepreneurship continues today.
I talked to "Boomer Expert" John Howe, 63, of Dallas, TX, who has started an organization designed to assist Baby Boomers who want to learn more about entrepreneurship and making their older years more fulfilling and profitable. Howe publishes the weekly electronic magazine for Boomers found at Boomer-Ezine.com. I asked: How are boomer entrepreneurs different from younger entrepreneurs?
"Boomers have the benefit of the lessons that many bumps and scars of life taught them," Howe said. "They are more conservative than the younger group. Patience is a trait that one learns with age. When we are young, we tend to shoot from the hip a lot. A little age teaches you to take aim and fire.
"Boomers also have more money to invest in their venture than the younger group, but the fact that this money is from retirement savings makes a Boomer conservative. The Boomer will study the opportunity and do a lot more homework before jumping in."
Howe makes a good point. Boomers are more careful with their money because they have less time to rebuild their fortune than someone who goes belly up at 25. I asked Howe why he thought so many Boomers were starting businesses. Was it out of desperation and need or because they enjoy the challenge?
Howe responded, "I believe it is a mix of all of these. It also depends on the person. A major concern is that modern medicine will make us live longer and we will outlive our savings. When we started saving 30 years ago, many planned savings for living a shorter time that we are now projected to live."
And why are so many boomers now looking at entrepreneurship as a way to supplement their retirement income?
"Some, like myself, cannot think about not having a challenge to wake up to everyday," said Howe. "Sitting around without a definite direction is not my idea of retirement. I am also not doing this for free so it is also profit motivated. We Boomers made a lot of money over the course of our lives, but many lived for the moment and did not plan for retirement like they should have, or they suffered in the stock market downturn and lost a considerable amount of their savings."
In the end, Howe believes, the decision by Baby Boomers to start a business comes down to energy and economics. "If the desire and finances are there, there is no reason someone over 60 should not consider becoming an entrepreneur."
If you're a Booomer interested in starting your own business you can contact John Howe at Boomer-Ezine.com.
Its A Booming Time For Business - To learn more about this author, visit Tim Knox's Website.
Like this article? Share it with your friends
The first wave of Baby Boomers turned 60 this year and as many approach the traditional retirement age of 65 they are finding that (a) they are still vibrant and don' t want to stop working; and/or (b) their life expectancy has been extended and they will be dead broke long before they are dead and gone.
As a result Baby Boomers are not slowing down now that they're approaching what once would have been considered their "golden years." If you were a man you expected to retire at 65 and die at 75; and if you were smart you banked enough dough to see you comfortably through that stretch. We figured we'd get at least 10 good leisurely years before the grim reaper shows up without having to worry about money. Turns out, we were wrong.
Leave it to modern medicine and Mother Nature to throw a monkey wrench in our plans. People are living longer, which is one of those good news/bad news scenarios. It's good that you're living longer, but it stinks that you have no idea how you're going to finance all that extra life. Who wants to live forever on a diet of crackers and cat food? Certainly not me and I expect, not you. And do me a favor: if you see me thirty years from now passing out buggies at Wal-Mart, please, just kill me where I stand. You'll be doing me and all Wal-Mart shoppers a huge service.
Personally, I think Viagra is the reason men are now living longer. Let's be honest; if a man thinks there's still a chance of getting lucky when he's in his eighties he'll hold on for dear life. And women are living longer because they know old men couldn't survive without them. We'd never find our car keys or our pants or our reading glasses or our way home from the drug store.
Being your average, white male in good health, I can now expect to live into my eighties if I can avoid an unexpected heart attack, getting creamed by a runaway truck, or the wrath of my lovely wife (who I believe is actually killing me a little every day).
And by the time I get to eighty years old someone will have discovered a pill that extends my life into the hundred and ten range. Personally I don't think I want to live to be a hundred and ten. I'm crotchety enough now in my forties. Imagine what a pain in the backside I'll be fifty years from now.
All kidding aside, older Americans are finding that they have the time, energy, desire and, sometimes, the need to start their own business. I talked about the insurgence of older entrepreneurs in this column two years ago and as I predicted then, the trend toward elder entrepreneurship continues today.
- A report from Barclays Bank showed that older entrepreneurs are responsible for 50 percent more business start-ups than 10 years ago. This amounted to around 60,000 business start-ups in 2005 alone. The report further showed that only 27 percent run the business as the only source of household income, with 51 percent supplementing their pension.
- Other key findings showed that third age start-ups account for 15 percent of all new businesses, and third age entrepreneurs are three times more likely to be male than female.
- Americans over 60 are the fastest growing segment of Internet users and many are starting online businesses.
I talked to "Boomer Expert" John Howe, 63, of Dallas, TX, who has started an organization designed to assist Baby Boomers who want to learn more about entrepreneurship and making their older years more fulfilling and profitable. Howe publishes the weekly electronic magazine for Boomers found at Boomer-Ezine.com. I asked: How are boomer entrepreneurs different from younger entrepreneurs?
"Boomers have the benefit of the lessons that many bumps and scars of life taught them," Howe said. "They are more conservative than the younger group. Patience is a trait that one learns with age. When we are young, we tend to shoot from the hip a lot. A little age teaches you to take aim and fire.
"Boomers also have more money to invest in their venture than the younger group, but the fact that this money is from retirement savings makes a Boomer conservative. The Boomer will study the opportunity and do a lot more homework before jumping in."
Howe makes a good point. Boomers are more careful with their money because they have less time to rebuild their fortune than someone who goes belly up at 25. I asked Howe why he thought so many Boomers were starting businesses. Was it out of desperation and need or because they enjoy the challenge?
Howe responded, "I believe it is a mix of all of these. It also depends on the person. A major concern is that modern medicine will make us live longer and we will outlive our savings. When we started saving 30 years ago, many planned savings for living a shorter time that we are now projected to live."
And why are so many boomers now looking at entrepreneurship as a way to supplement their retirement income?
"Some, like myself, cannot think about not having a challenge to wake up to everyday," said Howe. "Sitting around without a definite direction is not my idea of retirement. I am also not doing this for free so it is also profit motivated. We Boomers made a lot of money over the course of our lives, but many lived for the moment and did not plan for retirement like they should have, or they suffered in the stock market downturn and lost a considerable amount of their savings."
In the end, Howe believes, the decision by Baby Boomers to start a business comes down to energy and economics. "If the desire and finances are there, there is no reason someone over 60 should not consider becoming an entrepreneur."
If you're a Booomer interested in starting your own business you can contact John Howe at Boomer-Ezine.com.
Its A Booming Time For Business - To learn more about this author, visit Tim Knox's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Tim's articles
 | |
|
|  |
 |
|
|
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Take the Lead Make $ From Your Invention Universal Search Instant Scripts Termination Suit |
|
 | ||
 |
Top 50 Blogs For Startups
Top Blogs To Watch In 2008 | |
 |
Top 50 Marketing Blogs
Top Marketing Blogs of 2010 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
