Tuesday 28 November 2017

Baby Boomer Entrepreneurs Are Solid Investment Opportunities

By Laura Reed


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.

Some seniors have found that retiring means downsizing and budgeting in areas where they never had to before. These older individuals may feel some pressure to bring in extra money. Others just want to feel a sense of accomplishment and self-worth. They are less concerned about the paycheck than the excitement.

Senior entrepreneurs have other advantages. They aren't raising children who get sick, have recitals, and get into trouble that takes their parents away from their jobs for extended periods of time. Boomers are over all that. They can spend all day on a project and be ready to start in again the next day. These are individuals who can stay focused on the business at hand.

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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