The Perfect Storm Entrepreneur is Over the Hill
What image do you get in your mind when you think of an entrepreneur? Well you're wrong! The perfect entrepreneur is female and over age 50.
PR9.NET December 18, 2015 - Encore entrepreneurs are startup companies with founders over the age of 50-years-old. This group is comprised of baby boomers and Gen X. The oldest Generation X-ers are now turning 50.
This group of start-ups make the perfect storm entrepreneur, according to Janice Celeste, the founder of the Encore Entrepreneur Institute. ?The older entrepreneur has the experience, the networks, the financial means for seed money, established credit, assets, and the time to create a successful business.? She also states that people are living longer and with the economy, many older retirees just aren?t retiring anymore. ?Those who planned their retirement are finding out they didn?t plan for their longevity,? said Celeste. They could live 20 more years than their original retirement plan called for and then what??
In addition, Celeste sites the lack of jobs for older people driving them into entrepreneurship. ?Ageism is real and it?s difficult for older people to land a job making the salary they?re use to,? Celeste said. ?With technology today, it?s easier than ever to start a business presence on the web or to open your store on Etsy.?
Often encore entrepreneurs will enlist the help of younger family members or employees to assist them with technology they don?t understand. Like with Linda Gomez, 60 who started her company, Fullips.com 10 years ago with the help of her adult children. ?I highly recommend older entrepreneurs surrounding themselves with a younger team,? said Gomez. Her adult children helped Gomez increase her Instagram page to almost 200k followers.
Senior startups may be the perfect entrepreneurs but funding establishments aren?t sailing on their ship quite yet. ?Venture capitalists are still betting on the younger tech companies and that?s fine for now because most older entrepreneurs have their own seed money. But imagine what this demographic could do with venture money behind them,? said Celeste. ?These younger companies are often out of business in five years but older entrepreneurs are your best bet for being in business long-term.?
According to statistics, older women are more likely to go into business than men. ?Women live even longer than men and they will often experience a double windfall of inheritance from their parents and their husband plus their retirement funds, which allows them to have money to open a business or easily turn their hobby into income,? said Celeste.
Celeste says that more support, training, and funding must be in place to support older entrepreneurs. ?These are the people who will make America great again,? she said. ?Our research shows that encore entrepreneurs are a very patriotic group. Having their products manufactured in America is important to them. This is a cause every American should support.?
To find out more information about how to start your own business, go to the Encore Entrepreneur Institute?s website.
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About Encore Entrepreneur Institute
Encore Entrepreneur Institute advocates for older entrepreneurs so they can change the world. We offer webinars, webcasts, trainings, and we are a resource and expert voice for entrepreneurs over the age of 50.
We connect encore entrepreneurs with services for funding, business planning, marketing and coaching. The Encore Entrepreneur Institute protects entrepreneurs through legislative advocacy by being their voice locally and nationally while serving in their best interest.
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