One top myth in the today’s business world is that business is no place for the aging generation born between 1945 and 1964, commonly known as baby boomers. They will most likely not understand new technologies, the new social-media culture, or have the determination to beat the younger generation in the market. However, current, credible reports tell us otherwise. A recent report from Gallup shows that baby boomers are a third of the workforce and are the largest demographic that is still growing a mainstream pool of experienced talent today. Baby boomers who want to be a force in driving successful startups might consider the following tips.
Look After Your Body
Ensure your body is healthy as this will lead to a healthy mind. Your business will flourish if your brain is healthy. Studies indicate that physical exercise and a balanced diet can improve your mental capacity and longevity. Introduce more fresh vegetables and fruits into your diet, create a workout program, and see a fitness professional for informed advice.
Always Have Clear Goals
Make sure you have a clear direction in life at all times. This way, you will always have positive thought and less negative concerns. For all your ventures, set short-term goals that are realistic and achievable. When you hit your goals, the progress will help your confidence to soar, and you will be energized to continue working hard.
Strengthen Your Financial Future
Be proactive about your personal and business finances. Do everything within your budget and strive to trim down your expenses. Use bookkeeping services for small business if you feel overwhelmed with some of these tasks. It is much better to ask for help then put unnecessary pressure on yourself. Being able to strengthen your financial future can have a huge impact on your overall health.
Use Your Experience
As a baby boomer, you have a vast amount of experience that originates from your past careers. Use the experience to help you make the right decisions along the way as you work towards starting your own business. For example, if you have been managing a clothing store for years, you certainly have a clear understanding of this business. You can rely on your experience to open and manage a boutique.
Start a Business that Appeals to Your Generation
Some of the best business ideas that you should consider are those that appeal to your own generation. Your potential clients will be happy to do business with someone whom they easily identify with. You can consider adult-day service programs, elderly learning programs, or fitness organizations.
Use Modern Technology
Baby boomers are a unique generation. They are retiring from the workplace in droves, but that doesn’t mean they are no longer a gold-mine of active tech consumers. Members of this generation were the most likely group to had purchased innovative tech products as soon as they were introduced into the market. Don’t be less enthusiastic about modern technology. Studies show that millennials and generation X are a little more enthusiastic about modern technology than boomers. Seventy-eight percent of millennials use social media networking sites. Only 42 percent of younger boomers use these sites. The more you will be able to use modern technology, the higher will be your chances of success in your business.
Have a Healthy Work-life Balance
Being an entrepreneur might mean working longer hours. You have to forget the nine-to-five schedule you might be used to. However, if you choose the right business idea, you might find the job more fulfilling and the hours, therefore, less bothersome. You still have to set limits as it is vital to have time for friends and family. When you are not at work, turn off your office phone and avoid your email.
With these time-tested tips, you are ready to start your own business. Beyond the financial rewards, your own business will allow you to stay connected with your personal and professional networks and help you remain physically and mentally healthy.