Is being a mid-life entrepreneur, or baby boomer entrepreneur not what you thought it would be?

Are you having second thoughts? Is negative self chatter getting in your way?

If you have been “at this”, meaning your own business, for some time now and are still struggling, it’s time to ask yourself some serious questions why.

What is the difference between YOU and other people?

Why is it that “somebody else” seems to “make it” and you don’t?

It’s not because of some “magic” product, it’s not because of some “push button system” or some so-called latest and greatest tool.

Ignore what you read about so called “underachievers”, “the lazy way to riches” or any other lame marketing tactic that preys on your emotions and simply empties your purse.

Pay close attention to what I am about to tell you.

The difference between people who are struggling and people who are not is that those who are successful made a decision to be successful.

We all have 24 hours in a day, we all have circumstances and “stuff” that comes at us every single day.

It’s what YOU decide to do with that 24 hours and how YOU react to those circumstances which decides if you will move forward or stay behind.

That’s it. A simple decision to do whatever it takes to be successful.

It doesn’t matter how tall you are, what body shape you have, how pretty you are or the kind of childhood you had. There are thousands of stories of famous and not-so famous people who decided to overcome their adversity.

Oprah Winfrey is one who immediately comes to mind. “Sure, she’s famous” you may be saying, but she wasn’t always famous. She was both born into poverty and had a horrendous childhood, but what stood her apart from others is that she made a choice to overcome - to move forward.

Have you heard of Sandy Morgan? She is not so famous. Sandy is a distributor of Send Out Cards who was born with cerebral palsy. While she has very limited motor functions, yet she has 100% of her intellectual function. She can’t speak or walk, but she can use a keyboard.

Although Sandy may not be so famous, she is very successful. She uses Send Out Cards to communicate with the world. She may not be able to use the spoken word with her mouth, but her brain and a computer allow her to use the written word.

Sandy made a choice to be successful, to not live off of government handouts just because of her physical challenge. She uses Send Out Cards to build a business for herself. Good on you Sandy!

So, what is stopping YOU?

We’ve heard it before, but I’ll say it again. Life isn’t a dress rehearsal. This is the real deal. You either make the decision NOW or you don’t. One day, you’re going to wake up at 75 or 80 years old and the last thing you want to say to yourself is, “I wish I would have…”

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You can either create results or create excuses. And as my favourite saying goes -

You can’t make success and excuses at the same time!
So, what’s it going to be?

Are you going to be a successful mid-life entrepreneur or are you going to sit back and let others create their own midpreneur success?

I hope you DECIDE to make the right choice.

Posted by Danette Hibberd

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Baby Boomer Entrepreneur
Gen X Entrepreneur
Mid-life Entrepreneur
MidPreneur

What do the above terms have in common?
Yes, many many new entrepreneurs begin and develop a small business in mid-life, and become extremely successful.

You have worked hard and planned for retirement and here it is staring you squarely in the face. Reaching this point can be a blessing and a curse. You eagerly anticipated retirement, but you have some nagging doubts about what retirement holds for you.

Perhaps, the major doubt you have is financial. Modern medicine has had a major impact on your retirement planning. When you formulated your retirement savings plan 30 years ago, you did not think that you might live as long as you probably will. You want to live a long, healthy life, but in doing so, you could potentially outlive your retirement savings. The answer to this dilemma - become an entrepreneur. Working after retirement can substantially extend your retirement savings.

Well, if you become an entrepreneur after retirement you will be in good company. Several studies show that the fastest growing group of entrepreneurs are aged 60 and older.

Just what is an entrepreneur?

The word comes from the French word “entreprendre”, which means “to undertake”. Let’s get a definition from the Merriam Webster Dictionary. It defines entrepreneur as “one who organizes, manages, and assumes the risks of a business enterprise.”

Do not let this frighten you. It is an opportunity for you to expand your horizons and to become your own boss. Possibly, this has been your long term dream.

Some people wonder if they are too old to become an entrepreneur upon retirement and if being over 60 is too old for entrepreneurship. Recent studies indicate that the odds are in the favor of the older entrepreneur. Recent studies show that 22 percent of men and 14 percent of women over 65 are self-employed. That’s compared to just 7 percent for other age groups.

According to a Vanderbilt University study the number of entrepreneurs age 45 to 64 will grow by 15 million by 2006. This is compared to a four million decline for entrepreneurs age 25 to 44.

According to a 1998 survey of baby boomers conducted by the American Association of Retired Persons (AARP) 80 percent of respondents planned to work beyond retirement age, and 17 percent of those planned to launch new businesses.

The same study noted, “Self-employment among American workers increases with age, with the most dramatic jump occurring at age 65.”

Older entrepreneurs have an advantage over younger entrepreneurs because older entrepreneurs tend to have more experience to draw from and more assets with which to finance a business. The bumps and scrapes of life are a stern teacher.

More information can be found in a report published by Barclays Bank entitled “Third Age Entrepreneurs - Profiting From Experience”. The report shows that older entrepreneurs are responsible for 50 percent more business start-ups than 10 years ago. This amounts to approximately 60,000 business start-ups last year alone.

The Barclays survey also showed that today’s third age entrepreneurs (entrepreneurs over age 50) do not mind putting in the hours required to build their business. Nearly 49 percent indicated that they work an average of 36 or more hours per week.

The third age group rated holidays, lack of stress and a balance between work and home life more important than their younger counterparts.

The report further showed that only 27 percent run the business as the only source of household income, with 51 percent supplementing their pensions.

Other key findings showed that third age start-ups account for 15 percent of all new businesses, and third age entrepreneurs are three times more likely to be male than female. The downside is that many businesses fail within the first few years and older entrepreneurs may be less able to handle the financial loss than younger entrepreneurs.

If you lose everything at age 25 you have time to recover, but it’s a much bigger hit to lose everything at 65.

THE TITLE ENTREPRENEUR IS GENDER NEUTRAL

Years ago, the title “entrepreneur” would have been worn by a man, but times have definitely changed. For you women entrepreneurs, this article is gender neutral.

Information published by the Center For Women’s Business Research indicates there are over 10 million women-owned businesses in the US, employing 18 million people, and generating $2.32 trillion in sales.

Women start businesses at two times the rate of men, and women-owned businesses account for 28 percent of all businesses in the United States. Women represent about 775,000 new startups per year and account for 55% of new startups.

In the past 25 years the number of women-owned firms in the US has doubled, their employment has increased four-fold and their revenues have risen five-fold.

All the statistics should convince you that you should take a hard look at becoming an entrepreneur as your retirement job. You will be in good company.

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John V. W. Howe is an entrepreneur, author, inventor, patent holder, husband, father, and grandfather. He has been involved in entrepreneurial activities for over 40 years. He founded http://www.boomer-ezine.com and http://www.retirement-jobs-online.com to help Boomers (baby boomers) become entrepreneurs when they retire.The Best Retirement Job - Become an Entrepreneur

Becoming an entrepreneur as a baby boomer, in midlife or just being a midPreneur, you will find your life takes on a whole new meaning as you live your passion.
Imagine being able to actually live your dream and spend the best years of your life doing what you truly love - being a mid preneur!

Need the tools and resources to take this journey? You can find them right here on FabulousBeyondFortyClub.com

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Mid-Preneurs
- the new term for mid-life entrepreneurs or baby boomer entrepreneurs. I love it!

That’s what I am and that’s what many of you are. Yes, midpreneurs, and we’re sure proud of it.

I was scouring the net and came across the following article and it provides an interesting read.

It used to be that middle age was the time to buy a fancy sports car, take up hang-gliding and mountain climbing, and dump your old life-partner for a newer model.

It’s been called mid-life crisis, the sudden realization that life is finite and the time to achieve your dreams is already half gone.

Times change. It’s not that 30- to 40-year-olds have all magically come to grips with middle-age, it’s just that for many millions of them the method of scratching their feelings of angst has altered.

Now, rather than buying a cheap toupee and bluffing their way into trendy night spots, many in the 30-to-40-year-old club have decided that the best and most exciting way to take their life in a new direction is to shuck their suit and tie or high heels and dress and drop-kick their 9 to 5 lifestyle into another time zone.

What this new generation of mid-lifers has discovered is the joy of starting and running their own business.

They are part of the new and ever-growing legions of mid-life entrepreneurs.

There is no one reason that someone in mid-life chooses to become an entrepreneur. For some it is simply a feeling that there must be something more to life than working for someone else day in and day out. For others it may be the involuntary loss of a job and the need to replace the lost income. For still others it can be the desire to do something more with one’s life, to give something back to the community.

But no matter what the reason, the numbers are growing. Today, according to the U.S. Census Bureau, almost one quarter of new business start-ups are helmed by someone 30 to 50.

Take Andrew Aussie, 39, who was head of marketing for 11 years for Kashi brand cereals before deciding that he could do a better job on his own and, at age 37, started his own natural food company, Honest Foods. Next year he expects to top $1 million in sales.

Or Reed Hastings, who, after being charged more than $40 in late fees at a video store, decided there had to be a better way and, at age 42, founded the highly-successful Netflix DVD subscription service.

Not all middle-aged entrepreneurs strive for the mega-success of a Netflix, but the Census Bureau estimates that over the next decade new business start-ups by middle-aged “regular folks” will account for as much as 65% of the nation’s goods and services.

Are you one of them? You likely have skills and expertise, but do you have business and marketing acumen? It’s one thing to be reading to launch a start-up and quite another knowing how to properly structure and create success. To attain profitability, we recommend all entrepreneurs focus on 4 keys:

1. Establish a memorable and unmistakeable brand identity:

The secret to business success is determined by your ability to powerfully communicate your business with laser precision and your ability to deliver a clearly-defined and consistent experience.

In a nutshell… it’s called branding, and, when done right, it ensures a thriving business with all the customers and profits you need. The secret is to establish a powerful brand identity that sings distinction. And establish that identity before you launch any marketing activities.

2. Create a deep connection with your core target audience - your potential raving fans!

Who wants and needs what you have to offer? The only wrong answer is “everyone.” If you’re a pediatrician, you may see infants and children. Are they your target audience? No! They are your patients, but it’s the parents you need to connect with to get the kids in your door. And it’s not just any parents - it’s a definite group of parents.

In marketing, you get a lot more “bang for your buck” if you focus your spending on a well-defined group of people that you enjoy working with. The better you define this group, the more effective your marketing can be.

3. Design compelling offerings that pull customers in like a magnet.

80% of all purchase decisions are based on emotion. It’s your job as a marketer to know how your customers want to feel and to get them to visualize how your services can meet their needs. People want to know, “What’s in it for me?” Tap into the emotion and create offerings that touch your customers.

4. Craft A Personal, Workable Marketing Plan

Marketing is everything you do to make your product or service more visible, more desirable and more profitable. Your marketing plan will clearly define the big picture and provide focus and direction based on the 4 ‘P’s of Marketing - product, price, place/distribution and promotion.

Since 90% of small business owners do not have a plan, you’ll have a leg up on your competition by crafting your personal, workable marketing plan to ensure that you reach your business goals.

Are you ready to create a business you can brag about? Do your homework, listen to your calling, and get out and play big! There’s more to life than that 9 to 5 job working for someone else!

About the Author:

Certified Marketing Spitfires Holly George and Leslie Hamp are creators of the ‘Fast Track to Marketing Mastery’ program.

Posted by Danette Hibberd