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.
Seniors have decades of business experience to fall back on. Lenders may be concerned a boomer is starting a brand new career late in life, but the knowledge gained from one career can extend itself to another. Boomers remember when people had to work hard to do things the younger generation expects technology to do for them. Most seniors consider a good work ethic to be a virtue.
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.
Before they begin a business venture, they think it through. Seniors will be realistic about what they can achieve and are glad for any success. They tend to have short term goals instead on long range plans. Most boomers care more about going into a line of work that involves something they are passionate about than making a lot of money.
Money is important to boomers, and some of them are faced with not enough money to get them through the last part of life. For these people going back to work may be a necessity. Others are more concerned with the quality of their life and getting back the sense of accomplishment they felt before retirement.
Potential investors should consider the fact that boomers don't have the distractions that younger entrepreneurs often face. Seniors have already raised their families and been through all the childhood ailments and problems that keep young parents away from work. Boomers are ready to focus on the job at hand without having to worry about children and house payments.
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.
Some seniors would shudder at the idea to returning to the workforce. They feel they have earned the right to sleep late and putter in their gardens or catch planes flying to the far corners of the earth. Another segment of this group loves the challenge of creating a viable business that stimulates their creativity.
Seniors have decades of business experience to fall back on. Lenders may be concerned a boomer is starting a brand new career late in life, but the knowledge gained from one career can extend itself to another. Boomers remember when people had to work hard to do things the younger generation expects technology to do for them. Most seniors consider a good work ethic to be a virtue.
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.
Before they begin a business venture, they think it through. Seniors will be realistic about what they can achieve and are glad for any success. They tend to have short term goals instead on long range plans. Most boomers care more about going into a line of work that involves something they are passionate about than making a lot of money.
Money is important to boomers, and some of them are faced with not enough money to get them through the last part of life. For these people going back to work may be a necessity. Others are more concerned with the quality of their life and getting back the sense of accomplishment they felt before retirement.
Potential investors should consider the fact that boomers don't have the distractions that younger entrepreneurs often face. Seniors have already raised their families and been through all the childhood ailments and problems that keep young parents away from work. Boomers are ready to focus on the job at hand without having to worry about children and house payments.
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.
Some seniors would shudder at the idea to returning to the workforce. They feel they have earned the right to sleep late and putter in their gardens or catch planes flying to the far corners of the earth. Another segment of this group loves the challenge of creating a viable business that stimulates their creativity.
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