Are You A Baby Boomer?
Are You a Baby Boomer?
As a former technocrat who became a business man I am fascinated
by what facts tell us. In relation to the baby boomer generation
some surveys have revealed interesting facts on their
entrepreneurial aspirations.
For those who may not know the term, baby boomer generally
refers to those born between the end of the second world war and
the mid to late 1950's. The baby boomers are thought to be the
generation who 'have it all' and who have influenced the final
years of the 20th century!
A recent study has shown that 22% of men and 14% of women over
65 are self employed compared with 7% below that age.
A further related statistic is that the number of self employed
entrepreneurs in the age range 45 to 64 will have grown to
15million by the end 2006 (broadly these are the baby boomers).
However, in the age range 25 to 44 there will be a decline of
4million.
An earlier survey of baby boomers showed that 80% planned to
work beyond retirement age and 17% of them planned to launch new
businesses.
The conclusion being that self employment by American workers
tends to increase with age, the most dramatic jump coming at 65.
This is a case of baby boomer influence on the statistics.
It seems that baby boomers and even those older (like me) find
starting a business easier than the younger entrepreneur because
they have more experience to draw on.
Interestingly, 15% of all new businesses are more likely to be
started by males rather than females.
Where you might ask is all this leading us?
Well, I started my business at 50! Not a baby boomer, but
broadly I fit with the surveys which qualifies me to add a
little to the information.
My experience is, if you have something to offer, product or
service there is everything to be gained by [starting a
business], baby boomer or not.
Yes there are risks and you will work very hard but in my
opinion the freedom to make your own decisions affecting your
life and develop as an entrepreneur plus many other
compensations, make it all worthwhile.
In my case to become a business consultant was natural because
of the nature of my corporate life - managing and turning
companies round.
It does not suit everyone but, if you are thinking of starting
say a home business there are a number of things to consider,
health, energy, drive, your goals and your finances.
Many start a business with a work at home job.
Most of all do you have the backing of your spouse? That is
vital. In my quieter moments I am humbled by the faith my wife
showed in me!
If you have not yet fully decided to go it alone think carefully
about it.
If you are already on your way I hope you are doing well. Stick
at it, it will be worthwhile in every sense. Opportunity is
everywhere, as the 15million baby boomers seem to recognise.
Tip In times of difficulty never lose sight of your
achievements.
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