During this National Entrepreneur Month, we not only recognize the tenacity of small business owners, but our veterans who took the leap of faith to open a small business. While November is widely known as a time our country honors and recognizes the contributions veterans made to our country, it’s also a moment we acknowledge the impact entrepreneurs have made to our economy; both adding valuable contributions to our country.
Have you thought about turning your passion and something that serves others into an opportunity that could pay the bills? Perhaps you sold lemonade, homemade desserts or candy when you were a kid. At that time, you were probably nurturing your entrepreneurial spirit. Many small-business owners will agree that when you’re passionate about what you do, it does not feel like work; you’re just doing what you were placed on this earth to do.
Do you have a plan to recession-proof your life? A growing number of workers age 50-plus do, and it involves turning interests, hobbies or skills into a small business.
The business of aging is growing up. What is today a $2 billion aging in place technology and longevity industry is projected to reach $20 billion by 2020. Entrepreneurs, many just in their 20s and 30s, are scrambling to develop products and services that allow older adults to be independent and safe - and give their adult children peace of mind.
If you've ever struggled to get a picky seven- or eight-year-old to eat some fish, you have E. Robert Kinney to thank for making the job just a wee bit easier.
There are two schools of thought about USA Today founder Al Neuharth, who died on April 19 at age 89 in Cocoa Beach, Fla. Some think he helped ruin the newspaper, an institution older than our country itself, by turning it into a paper-and-ink imitation of TV news. Others think he helped modernized a desperately outdated medium and, in so doing, perhaps staved off its demise.
So many age 50+ customers -yet marketers obsess about youth. So I wonder, being exactly in the age demographic of the prospective buyer of BMWs, what's up with their marketers? BMW seems on a quest to reach the young through social media. But the actual buyer my age isn't shopping for cars that way - and today's young people don't have the money for that car! Here's the reality: baby boomers own half of the nation's wealth. That's $2.3 trillion. As for the 65+, according to Pew Research, the median net worth of households headed by someone 65 or older was $170,494. If I were BMW, I'd sit up and find the right audience.
Whether it's out of economic necessity or the desire to fulfill a dream, older Americans are increasingly considering starting their own businesses.
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