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 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.
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.
Boomers are more likely to understand and appreciate the concerns of investors than younger entrepreneurs. They have already experienced managing big budgets, repaying loans, creating business plans, and participating in quarterly reviews. This not something a lender or investment banker will have to explain to them. Senior business owners don't take as much for granted as younger business people.
Not all boomers are interested in starting new businesses after retiring. Some are content to putter in their gardens or travel the world. Many do have commercially viable ideas and interests however, that they finally have time to explore.
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.
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.
Boomers are more likely to understand and appreciate the concerns of investors than younger entrepreneurs. They have already experienced managing big budgets, repaying loans, creating business plans, and participating in quarterly reviews. This not something a lender or investment banker will have to explain to them. Senior business owners don't take as much for granted as younger business people.
Not all boomers are interested in starting new businesses after retiring. Some are content to putter in their gardens or travel the world. Many do have commercially viable ideas and interests however, that they finally have time to explore.
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