Baby Boomers See Opportunity to Start Business Comes At a Price
Filed in archive Biz Opportunities on June 14, 2007
baby boomer business owner, especially those involved in second act businesses are enjoying the freedom of owning a business. They are also feeling the stress that comes with the territory:
"Owning a business is like getting married: The level of commitment is extraordinary, the amount of pressure is high - and it's unrelenting," says Ken Siegel, a workplace psychologist in Los Angeles. For older entrepreneurs, "your body is less resilient," he says. "The tolerance for distress is less - and you've got to face it, being in business is stressful." Via SmartMoney
The baby boomer trend towards entrepreneurship, especially second act businesses that allow them to put the experience they gained in the corporate world to work is can be stressful.
Many boomers plan to continue working well into retirement.
With 70 percent working in retirement, many seeking new business ventures, and viewing this as a "lifestyle change" spells a real challenge for employers with baby boomer employees and an opportunity for business owners that are looking for buyers for their business because they will be looking to Buy a Business, Not Start a Business. Via Un-Retirement: Small Business Trends: Baby Boomer Entrepreneurs and Work Life Balance
How do you think this will affect your business?
Tags: Baby Boomers See Opportunity Start Business Price business baby+boomers
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Rating: 7.00 out of 2 vote(s) cast.
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Response from:
Tom
(07/25/07 1:36am)
Response from:
Anthony Lorizio
(07/29/07 2:23pm)
As one who works with "Baby Boomer" private company owners in the process of Exit Planning and execution of a liquidity event (to support whatever they choose), getting out of a business takes as much of a commitment as does running one, maybe more.
Those Baby Boomers who may be retiring from a "Corporate" position and desire to be in their own business better get "COACHING."
The private capital market of smaller business is a totally different world then the one in which the corporate executive has made his fortune.
Addressing the law of supply and demand and the need to quantify risk across myriad exposures becomes a matter of financial survival in the private capital domain. Ordinarily there is no "organizational" cushion in a smaller business that allows for even slight errors in judgement.
Unless they are comfortable with the risk/reward psychology of the private capital world they should find a good financial advisor to manage their assets.
Although the famous "Little Rascal" named Buckwheat said, "It's juz bizznes!", it's not!
Those Baby Boomers who may be retiring from a "Corporate" position and desire to be in their own business better get "COACHING."
The private capital market of smaller business is a totally different world then the one in which the corporate executive has made his fortune.
Addressing the law of supply and demand and the need to quantify risk across myriad exposures becomes a matter of financial survival in the private capital domain. Ordinarily there is no "organizational" cushion in a smaller business that allows for even slight errors in judgement.
Unless they are comfortable with the risk/reward psychology of the private capital world they should find a good financial advisor to manage their assets.
Although the famous "Little Rascal" named Buckwheat said, "It's juz bizznes!", it's not!
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