There has never been a better time for starting your own business.
For many of you, the kids are out of the house, you’re living longer and healthier lives, you want more flexibility with your work, and sometimes landing a new job after 55 presents a challenge.
The latest Kaufman survey shows over 45% of entrepreneurs today are aged 45-65. A recent Gallup survey identified the reasons why boomers are choosing this path for earning income and connecting to their encore.
New technologies in do-it-yourself websites, creating your own graphics and online tutorials for managing social media make it easy for boomers to start their own business.
So what’s holding you back? Why aren’t more boomers joining the ranks of entrepreneurs in the Tampa Bay area? One of the biggest reasons I hear is that most people don’t know how to get started or where to go for hands-on help with the all-important first step of testing a new startup idea. Every startup is an experiment, and if the hypothesis isn’t validated as to whether consumers want a product/service or whether the company is sustainable, the idea and business have a greater chance of failing.
Encore Tampa Bay is pleased to announce a great new collaborative effort that can provide you information on the organizations and entrepreneur resources that can help you every step of the way. Thanks to the contribution of Community Foundation Tampa Bay (and the amazing project team from REUNIONcare and Danielle Weitlauf), My Startup Tampa Bay will be ready to help entrepreneurs no matter what stage they’re in. (Launch date will be Mid October)
I recommend…
Put your toe in the water by attending one of the many events featured on our new entrepreneur asset map. Meetups are the best way to get a feel for what’s happening in our community. Another way to get feedback on your idea is through 1MillionCups.com — a free, weekly, national program designed to educate, engage and connect entrepreneurs. Every Wednesday at 9AM in locations all over the U.S., two entrepreneurs do a six-minute pitch about their new startup to a group of local entrepreneurs. This is followed by questions and offers from the audience to help startups take it to the next level. There are two locations in the Tampa Bay area where entrepreneurs meet via 1MillionCups.com — at the St. Petersburg Greenhouse and at the Hillsborough County Entrepreneurship Collaborative in Ybor City. This is a fantastic way to get feedback on your idea or just listen and watch others pitch their ideas.
Do your research
There are some great books, articles and blog posts that can help you check out the landscape and give you specific ways to investigate what it takes to start up your own company. Two books I would recommend are Lean Start UP by Eric Reis and The Art of the Start – By Guy Kawasaki. The article, What Successful Entrepreneurs Wish They Had Known Sooner highlights key factors to consider in starting up, like getting a mentor, and not being afraid of change or failure. Failure can be greatest learning opportunity — I learned that the hard way!
Social entrepreneurs
As we think about the encore movement and people that are searching for meaning and social impact, there is an obvious connection to social impact business ideas. So many of us have had some kind of experience, whether it be caregiving for our parents or addressing an issue facing our community where we say to ourselves, “There must be a better way to solve this problem.”
Encore Tampa Bay is teaming up with Hillsborough Community College this month by offering a series of informational sessions on social entrepreneurship. Our October 23 event will focus on social venturing with a panel on conscious capitalism and will feature two incredible social entrepreneurs from our own community. This is a free event for all ages and a great opportunity to learn more about this kind of business startup.
You have what it takes
Older entrepreneurs have a lifetime of experiences and skills that are critical for any kind of business startup effort, like problem solving skills, maturity, talent management, and financial savvy. Global Entrepreneurship Monitor documents that 50% of all startups launched by 50+ are still in business after 5 years!
What are you waiting for? Your big idea, your dream is calling you and there are so many great resources waiting to help you along the way!