When seniors go see financiers about making an investment in an idea they have for a business, they can face some hurdles. Their age is just one of them. Bankers may fear that boomers, who are retired, may be out of touch with today's global marketplace. They certainly have to consider whether or not the seniors will live long enough to pay back a loan. There are good reasons however, why baby boomer entrepreneurs are good risks.
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 looked forward to retirement. They loved the idea of plenty of extra time to do whatever they wanted. Many of these same seniors looked around after a few months and decided they were going to die of boredom if they didn't find something useful and mentally engaging to do. They want to get out of the house and back into the workforce, on their own terms.
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.
A lot of seniors miscalculated when it came to retirement. Once into it, they realize they may outlive their savings and need extra money to get them through. A business venture is can be a good option for these boomers. Others just want to get back into the working world where they are recognized for their accomplishments and talents.
Seniors have the advantage of being more single minded than younger workers. Their children have grown and are no longer the cause for time and attention away from the job. Many have gotten into the habit of going to bed and getting up early in order to get a fresh start on the day.
As an investor in a senior owned business, you want to feel assured your concerns are taken seriously. Boomers know all about budgeting, paying back loans with interest, business plans, and quarterly reviews. Many of them have been through it all before. You will have a partner who understands your bottom line and will appreciate your participation and interest in this new venture.
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 looked forward to retirement. They loved the idea of plenty of extra time to do whatever they wanted. Many of these same seniors looked around after a few months and decided they were going to die of boredom if they didn't find something useful and mentally engaging to do. They want to get out of the house and back into the workforce, on their own terms.
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.
A lot of seniors miscalculated when it came to retirement. Once into it, they realize they may outlive their savings and need extra money to get them through. A business venture is can be a good option for these boomers. Others just want to get back into the working world where they are recognized for their accomplishments and talents.
Seniors have the advantage of being more single minded than younger workers. Their children have grown and are no longer the cause for time and attention away from the job. Many have gotten into the habit of going to bed and getting up early in order to get a fresh start on the day.
As an investor in a senior owned business, you want to feel assured your concerns are taken seriously. Boomers know all about budgeting, paying back loans with interest, business plans, and quarterly reviews. Many of them have been through it all before. You will have a partner who understands your bottom line and will appreciate your participation and interest in this new venture.
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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