Senior Entrepreneurship – Is Age Discrimination a Blessing in Disguise? (Pt. 2)

In the introduction to his recently published book Encore! Encore! Joe Wasylyk makes the following observation:

“Many Seniors have elected to become first-time entrepreneurs after age 60.  Economic factors and a job market perceived to be biased against older workers has pushed a number of people into starting his or her own business.”

Though not widely discussed, there is sufficient anecdotal evidence and wide public acknowledgment that age discrimination against Seniors in the workplace is a fact of life.  It’s the 300 pound Gorilla in every Senior’s living room when the “What do we do now?” conversation takes place.  Discrimination is abhorrent in all its forms — but in this one narrow context it might be a blessing in disguise.

As discussed in Part 1 of this series, there are ample reasons for Seniors to entertain entrepreneurship — not as a last resort — but as a golden opportunity.

Senior Entrepreneurs & Social Media

Harnessing the power of Social Media, in particular, is an opportunity made-to-order for enterprising Seniors.  It is an inexpensive, non-manpower intensive, and lower-energy form of business development that can be easily done from the comfort of a home office … with ample time remaining to enjoy life.

Consider the reasons that many younger individuals contemplate, but then exclude entrepreneurship as an option.  This marked differentiation between the generations gives a hidden advantage to Seniors as they reenter the business world at the helm of their own enterprise:

• Resources: Many younger candidates simply do not possess sufficient cash to invest in a business of their own.  With credit markets tighter than ever before, securing resources is a major stumbling block.  Seniors often have this problem solved in advance by earmarking some of their assets for entrepreneurial purposes.
• Equanimity Under Pressure: Many younger candidates have little experience dealing with real-world business situations, and as a result have a difficult time remaining calm under pressure.  Many Seniors have lived through difficult business situations before and are better equipped to deal with pressure.
  
• Know-How: Younger candidates often have the willingness, but not the experience, to master entrepreneurship.  Many Seniors enter retirement with a wealth of experience in their field, no to mention long-time contacts that can be capitalized upon.
  
• Willingness To Learn: Social Media knowledge, or the lack thereof, is a significant differentiation between youth and retired Seniors.  Younger candidates often believe, sometimes mistakenly, that they have a command of Social Media and that the transition from personal to business use will be simple.  It isn’t.  They are often unwilling to take guidance from others which is all too often a mistake.  Seniors, on the other hand, often have little or no experience with Social Media and are willing, even hungry for guidance.  This willingness and eagerness to learn, makes Seniors more malleable and ultimately more effective as entrepreneurs.

According to the Department of Health and Human Resources, 60 year old men have a life expectancy of 18.9 additional years, and women of the same age have a slight edge at 23.1 years.

Think about it.  That’s an average of 21 years that could be devoted to entrepreneurship.

If you ponder the technological advances that have occurred since 1990, 21 years ago, imagine what is likely to happen in the next 21 years.

Riding the crest of innovation that is sure to occur, and with the advantages listed above, Senior entrepreneurs could easily become the most productive segment of the online business community.

Getting in touch with me is very easy

If you are a Senior Entrepreneur wishing to harness the power of Social Media, or you know someone who is, I am very easy to get in touch with and I am eager to help.   Simply call the number below.  During normal business hours, (8 AM – 5 PM Scottsdale, Arizona time), it is my direct line.  Otherwise, just leave a message. If you would prefer to exchange email I would love to here from you. Just email michaelstewart@jerichotechnology.com or click the email badge below. I promise I will get back to you within 24 hours.

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