Discover how the over ’50’s are powering the next wave of business start-ups
Vince Stanzione, the best selling author, has recently introduced his many followers to the New Olderpreneurs, the latest group of people who have over achieved in business. Stanzione, wrote The Millionaire Drop Out, the New York Times best seller as well as Fire Your Boss and Do What You Love and Reclaim Your Life.
He has spent a lot of time analysing those who have started up their own companies, become their own boss and discovered the change in trend as it is not just the young who are go-getters these days.
“Most people think of the founders of start-ups as young guys in a basement writing computer code while they eat cold pizza,” Stanzione said. “They would be wrong; because today it is the over ’50’s who are powering the next wave of business start-ups.”
Stanzione has dubbed these mature business owners New Olderpreneurs and he attributes their rise to several factors. First, the recent economic upheaval has forced many older people to fend for themselves as firms let older workers go in great numbers. These workers had no choice but to use their vast experience to start their own businesses when they were unable to find work in the corporate world.
Second, many older workers are simply tired of working for someone else and with modern technology allowing start-ups to launch with relatively small costs, these restless workers feel now is the time to take the plunge. Finally, workers well beyond 50 are entering the game because they have found that retirement savings is not enough to live on or they are simply bored and want to get back into the mix.
Stanzione finds this trend fascinating and has spent a great deal of time analysing these Olderpreneurs and the types of businesses they are starting. Almost all of the start-ups created by these older workers are founded in their years of experience working in the corporate world. Many start businesses sharing their knowledge with others through seminars and webinars and Stanzione has found that there is a big demand for this type of service as younger workers rush to soak up the knowledge these older workers have.
Many of these older workers spent their careers as problem solvers and the ability to solve problems of all types is in great demand. Busy executives are eager to hand their complex problems to someone who can find the solution. Companies that let older workers offer advice or act as virtual assistants are some of the most common types that older workers focus on.
Stanzione has found that older workers are also much more eager to learn new skills than most people give them credit for and that has opened up opportunities in website design, online planning and advice services and even financial traders and investors. In fact Stanzione has seen a dramatic uptick in the number of people over 50 who have signed up for his classes on trading.
Given the emergence of Olderpreneurs, Stanzione has some advice for these go-getters:
Think about what skills to offer the market and look for what people want.
Test a new business in a small way by placing a Google ad word advertisement or classified advertisement if it’s a local business. That is a cost effective way to get started.
Be market driven not product or service driven – look for niche markets and make sure there is a demand. Always remember that people are being asked to part with their money.
Learn to network and call in favours. Use existing contacts and convert them to clients.
Highlight age and experience; they are the New Olderpreneur’s best assets. Age and Experience may be a hindrance in looking for a job these days, but they are golden when trying to attract clients who want to person with the most expertise.
Concentrate on areas of expertise and outsource the rest. Some are strong at sales but not administrative tasks.
Access teaching tools like Stanzione’s book The Millionaire Dropout, Fire Your Boss, Do What You Love, Reclaim Your Release Which offers excellent advice and guidance to those striking out on their own.
To learn more about Vince Stanzione and the New Olderpreneur phenomenon visit www.themillionairedropout.com. Stanzione’s book is available in bookstores and online