Don’t Believe the Hype – Entrepreneurship Is a Mature Man’s Game
Monday, December 19, 2016, 6:00 AM | Leave Comment
Despite what you hear from Silicon Valley, entrepreneurship is alive and well in the 50+ demographic (baby boomers).
In fact, those between 55 and 64 in the US held the highest percentage of entrepreneurial activity in the last 10 years.
There are plenty of precedents too, with founders like Ray Kroc of McDonald’s, John Pemberton of Coca-Cola and The Colonel of KFC all starting after 50 years old.
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Positive Impact on Your Health & Well-being
Starting a business can be a wonderful experience, the activity and energy required helps keep you feeling young. In a survey from Central College Online, respondents mentioned their top 10 worries of getting old.
In this, the mental impact was 9.8%, financial 7.6% and losing lifestyle also 7.6%. Entrepreneurship is an excellent avenue for keeping on top of these things. The mental work alone is sure to keep your mind active for many years to come.
Continuing to invest is the second most recommended thing for men and women in their golden years to do to ensure financial stability.
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Better Positioned Now Than Earlier in Life
Mature citizens have several key advantages that make starting a business favorable over younger people.
You have likely led a long, fruitful and economically safe life, having saved well for retirement and having left any debts behind. This leaves you in a very safe financial state, and from this jumping board entry into the world of business becomes all the easier.
Without the pressure of having to pay off student loans, or car loans, or to pay for rent, your basic financial needs are met and you can focus your energy entirely on creating the best business you can. This is not something that young people are always able to do and it is a significant advantage for older generations.
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What Kind Of Businesses Do Mature Men & Women Tend To Start?
They are likely to favor businesses in agriculture, retail trade, business services, management or sales. Many of which might be considered “old-school” businesses. But each of these fields are vitally important to life in our society, even if they won’t ever be the next “Facebook” or “Twitter.”
What is important is that they are being run by older, more mature entrepreneurs. People with the kind of experience, wisdom and intellect that can only come from having lived a full life and whose experience will reflect through the business they create.
One scientist even understands this phenomenon so well, that he Is convinced there is a “second wave” or “new boom” of entrepreneurial talent and skills.
These skills and experience are, more likely than not, to come from the older demographics. This in combination the abundant opportunities represent is likely to lead to a very rich and fulfilling position within the US.
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Invaluable Skills & Experience
It is important to bear in mind, that many of the businesses created by older men and women fall under the categories of ageing accountant or middle manager turned consultant or an outsourced strategist. These kinds of businesses, on average, would hire fewer than five people at any one time in their life.
What this means is that they are responsible for hiring fewer people than the “Facebook” and “Twitter” type, Silicon Valley companies. But what they lack in hiring ability, they make up for in experience, knowledge and skills.
Several things that will always be needed by other companies and will always be in demand. The qualities that only come with time and maturity have never been more important for the corporate world.
Conclusion
The future is continuing to change, day after day, what becomes important is staying ahead of the trend. And when you have been around for a while, you do begin to see the trends and movements that rise and fall.
Time is the only way to truly gain the knowledge necessary to make a call on things like that. And that is the most important resource you might currently have.
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