Today is a new day and a new economy, where Boomers are increasingly wanting to get out on their own. Just last week Encore Tampa Bay and my good friend Chris Farrell (author of “Purpose and Paycheck”) were in the Tampa Bay Times talking about this upsurge of entrepreneurs. I want to go one step further for those of you who have not taken that first step in exploring what it would be like to take this new path. After working and meeting with over 2000 older adults over the last 7 years, I have seen the spark or desire in so many of you…but something might be holding you back. I am here to provide some tips and resources that may spark that first step.
TIPS IN GETTING STARTED:
- ASSESS: Take a good look at your skills, career, your accomplishments, and your current interests. What of these skills and interests can you use as a business owner or entrepreneur? Here is a great article that zeroes in on the three critical steps to getting started.
- WHAT DO I NEED TO LEARN? A critical first step is to explore and inquire from other entrepreneurs, what are the most important skills and knowledge needed. Be open and ready to learn!
- RISKS AND PAYOFFS: Along with everything else in life, there are ups and downs, pros and cons. Be ready to put the time in and to multi task get your business started. Assess your financial situation and know the financial realities of paying your own taxes and insurance. The payoffs are huge: a chance to embark on something that excites you, to be your own boss, to follow your dream and have the freedom and flexibility of work.
- YOUR TRIBE: Surround yourself with people who embrace your new adventure such as friends, family, other business owners, and mentors. (Avoid the naysayers). From my own experience – I created a dream team that truly empowered me and helped me all along the way!
PATHWAYS AND OPTIONS FOR BEING YOUR OWN BOSS:
- ENTREPRENEURS: Building your own business – a product or service . Another option is to take on a role within another person’s startup such as: Angel investor, supportive co-founder, member of an advisory board etc.
- FRANCHISING: Franchising does offer a different way to be your own boss and learn how to build a business. Chris Farrell outlines an overview and the pros and cons for operating a franchise in his article:
- FREELANCING/ CONSULTING: Freelancing is a perfect transition into retirement because it offers freedom and flexibly, while tapping into your existing skills and knowledge. More than 49% of current freelancers are over 50 years old. This article lays out some of the reasons why older adults are suited to this profession.
Older adults are paving way for a new kind of economy and retirement paradigm. I can tell you from personal experience that being your own boss can be the most rewarding, exciting step that you can take. At the same time it is the hardest most challenging work that I have ever done! (It sounds like parenting!) What are you waiting for? You don’t have to do this alone- Encore Tampa Bay and many other local resources can help you face those fears and give you the tools you need to launch!
TAKING THE FIRST STEP:
- LOCAL RESOURCES: The Tampa Bay area has some great resources that can help you in taking this first step. In St. Petersburg there is the Greenhouse which houses over 25 different partner organizations that offer great advice , workshops , tools and mentors . One great opportunity coming up next week is the Entrepreneur Academy (at the Greenhouse). Classes start March 18. https://stpetegreenhouse.com/EA In Tampa there is another great resource, the Entrepreneur Collaborative Center which also works with some great organizations that help you get started.
- GET INSPIRED: One of the best ways of understanding what it takes to leave your corporate job for entrepreneurship is to listen to inspiring podcasts such as Second Acts Stories with Andy Levine. http://www.secondactstories.org I continue to be so inspired to hear all these very different stories. CALL to ACTION- Andy Levine is looking for some great SecondAct stories in the Tampa Bay area. Please contact me if you would like to be considered for one of his podcasts! Your story could help inspire others who are sitting on the couch afraid to make the first step!!
- PURPOSE AND PAYCHECK : Chris Farrell’s new book is a perfect way to learn about starting out on your own!! Check it out here.
- UPCOMING ENCORE ENGAGE EVENT- Find your “Tribe” … “Are you Ready to be a Boomer Entrepreneur” March 26th. For more information and to register, click the link for more information. Space is limited and tickets are free, but a small $5.00 donation would be appreciated to help Encore Engage continue to offer great events.