Thursday, January 9, 2014

Older Americans Choose Entrepreneurship

Bloomberg Press article about older Americans choosing entrepreneurship

Yesterday, I was  quoted in the Bloomberg.com article about how older workers are choosing entrepreneurship as a real career option.

It's never been a better time to start a company. I see this phenomenon at the ATDC meetup circles, Ritz Group, TAG and other groups.  Not only is it a way to leverage expertise and contacts, but entrepreneurship offers older Americans a lot of the upside of work without some of the less attractive components of traditional jobs.

Risky?  Not really. Entrepreneurs are known for managing risk.  If you win or lose, most of that is within your control to influence it.  At least decisions are not made by organizational policies that may not align with your personal performance.  Remember, one of the best ways to improve profitability in large companies is to reduce headcount!

Young entrepreneurs get a lot of good press.  Congratulations, it's a great thing. But if they fail, many of them can go live with their parents.

We are the parents. We don't have that option. We have to succeed.  This is often the last great opportunity we have to establish our financial security for the rest of our lives.

I think the perfect team is a blend of youth plus older worker experience. Some industry discussions say every team needs a "grown up" to help manage excessive exuberance.  I agree.

Now it's time to go take a  nap...

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