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« Budgets and Diets: Restriction or Freedom? | Main | Women in Business: Are you a Financial Innocent? April is Financial Literacy Month »

Women in Business & Retiree's: Become A “Boomerpreneur”

Women in Business - are you bored with your current job or career? Have you been downsized or let go? Are you trying to figure out your next step and aren't sure how to capitalize on your skills, talents and abilities?

Or are you in or near retirement and looking to increase retirement income or start a new chapter as a “boomerpreneur." “Americans 55-64 have launched more businesses than any other age group during the past decade, closely followed by those 45 to 54, reports the Kauffman Foundation.”*

The great thing about starting your own business is that you won’t get fired or downsized. But you must have the focus, discipline and persistence to make it through the first couple of vulnerable years. (More than 50% of businesses don’t and usually because of poor planning or under capitalization.)

Here are key questions to ask yourself and elements to keep in mind when starting your own business:

* Are you a risk taker?

* Do you enjoy uncertainty?

* Are you competitive?

* Really important: Have you maintained your drive as you age?

Other questions to answer:  How will you fund your business – get a loan, borrow money from your home, obtain a partner?   

Women forty and above have the wisdom and life experience to be able to hone in on your passions, skills and talents. In most economic down cycles lots of new businesses emerge. There's lots of help available from business associations, the Chamber of Commerce and local colleges.  It's a great time to stretch into a new venture as a "Boomerpreneur."  Just make sure you ground your dreams with a business plan and action steps and strategies and realistic expectations.  (* Money Magazine, “How to be a Boomerpreneur”– May 2012)

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