By Jenny Holt, Freelance Health Writer
Age Is No Barrier To Starting Your Own Business . . . .
Age is ABSOLUTELY no barrier for starting your own business. The desire to start your business can hit an individual at any age. If you have an idea for a product or service, and see an obvious market niche, you might take the many steps necessary to put your concept into action. Many people think starting a business is for individuals in their middle-aged years, but businesses are started by people of all ages. A look at these demographics can reveal some facts about when people decide to go into business.
Young People Going Into Business
Some experts think that young people are more entrepreneurial today compared to previous generations. This difference may be a matter of necessity, because the number of teens that are able to find jobs is abysmally low.
Only 26 percent of were employed in 2011. As a result, many teens are creating their own jobs by starting micro-businesses that include childcare, doing lawn work or odd jobs, providing home cooked food items for busy families or providing craftwork for sale on the Internet. The new technologies have opened up new venues for marketing that young people are particularly adept at utilizing. They have parlayed these skills into promoting their small businesses, which allow them a chance to make money, as well as learn the finer points of business management.
Adults in Their 30s and 40s
Adults a little older are able to recognize the trends that are forming and have been particularly good at expanding on known businesses. These entrepreneurs have an understanding of how the world works for average people and can capitalize on this knowledge to provide ways to improve quality of life. Adults at this age often have the drive and energy needed to start a new business, as well as the flexibility to make changes as the marketplace demands. These qualities can be a distinct advantage in starting a business.
Many business owners worked for decades for other companies, learning special skills and observing the ways that businesses operate. When they finally retire, they have the time and the financial means to go into business for themselves. A Gallup study found that 32 percent of Baby Boomers chose to go into business to be independent financially. About 27 percent of these older entrepreneurs started their business to pursue their personal interests and passions. However, these business owners are also more careful about financial matters. They want to maximize profit and minimize risk to their investment in the business.
Any time of life is actually a good time to start a business, because the many activities help you to expand your skills and increase your personal satisfaction.
Note from Judy Musgrove ….. Age is NOT a barrier – for anything that you choose to do – unfortunately many people feel that it is – some say “too young”, some say “over the hill”, others may say “over qualified”. However, what true entrepreneurship means is totally being responsible for yourself. Not being told from a boss how to act, what to say, or any other means of control. Don’t get me wrong, the best job I ever had was working for HP as a Software Test Engineer. Literally, we were turned loose. We had to find the answer to an issue, but we were on our own to figure out where that problem lay.
No matter what your age, you have thoughts, feelings, idea’s and knowledge. What I can honestly say, is this:
- “Trust in your gut instinct”
- “Trust in yourself”
- “Do not be afraid to step outside that box.”
- “Do NOT listen to others” – listen to your inner voice and know that you are a fantastic person, with a great idea.
Know that you may need to hold a job while pursuing your entrepreneurship, but here is one last bit of advice ” DO NOT FOLLOW THE CROWD – Follow your heart – be unique – and don’t be afraid to jump in with both feet (then fix things as they come up!) Age is not a barrier.