Ep 64 Baby Boomer Startups

This episode is speaking directly to Baby Boomers (born 1946-1964) but let's be clear, Gen X (born 1965-1980), you're right behind them and can learn a great deal about repositioning, reimagining, and rewiring before, during, and after retirement. So you need to listen too! Today's episode shares the numbers, statistics, and insights from industry professionals and agencies. Did you know that the Baby Boomer generation accounts for an estimated 2.3 million small businesses in the United States, which cumulatively employ over 25 million people? We're sharing the reasons why Boomers are starting or considering (to start) a business, the challenges they face, and the opportunities that they can embrace. We're even going to share how Boomers can cater to other Boomers and the Silent Generation (born 1925-1945). We'll review the states with the most noticeable boom of Boomer startups, contemplate the impact of the pandemic on the rise of Boomer startups, share some tips and questions to consider, and even list some possible startup ideas that you might want to pursue. Some of the resources mentioned include: - Senior Corps of Retired Executives (SCORE) - The U.S. Small Business Administration: includes links to SBA District offices, SCORE chapters and other resources. https://www.sba.gov/tools/local-assistance/districtoffices - SBA resources for people over 50: https://www.sba.gov/content/50-entrepreneurs - SBA Learning Center: Encore Entrepreneurs: An Introduction to Starting Your Own Business https://www.sba.gov/tools/sba-learning-center/training/encore-entrepreneurs-introduction-starting-your-own-business - AARP tips on starting a new business: www.aarp.org/startabusiness - Kaufman Foundation FastTrack for 50 plus: http://fasttrac.org/entrepreneurs/fasttrac-courses-for-boomers.aspx - Aging 2.0: organization that promotes innovation to improve the lives of seniors. http://www.aging2.com/about/ - Alfred P. Sloan Foundation’s Center on Aging and Work at Boston College: research and information about multi-generational workforce. http://www.bc.edu/research/agingandwork/ - SeniorEntrepreneurshipWorks: Entrepreneurship and aging education and training information. http://seniorentrepreneurshipworks.org/about.php Before we wrap up we have to shout out some amazing businesses and the professionals that drive them. Today we're shouting out two Boomer start-ups: BUSINESS #1 BoodleBody Owner: Moira Gehring CBD-infused skincare line in Santa Fe, New Mexico. https://www.instagram.com/boodlebody/ https://www.facebook.com/boodlebody/ http://www.boodlebody.com/ (505) 467-8647 BUSINESS #2 Castillito del Caribe A micro-hotel on Isla Mujeres, Mexico Owners: Dawn Fleming & her husband This property is a 4BR/4BA Villa with 6 rental options depending on availability. https://www.castillitocaribe.com After being asked repeatedly for tips on how to retire overseas, Dawn launched a podcast called Overseas Life Redesign [https://olr.buzzsprout.com], and a coaching company of the same name, as well as wrote the book Claim Your Dream Life about retiring abroad. SHOW INFORMATION: Company: Foreman & Associates, LLC Website: https://ForemanLLC.com IG: https://instagram.com/ForemanLLC Podcast IG: https://instagram.com/DontCallitSmall FB: https://facebook.com/ForemanAndAssociates Twitter: https://twitter.com/ForemanLLC Podcast Twitter: https://twitter.com/ItAintSmall YouTube: https://youtube.com/user/ForemanAssociates HOST: Natasha L. Foreman, Lead Management Consultant Foreman & Associates, LLC Website: https://NatashaForeman.com IG: https://instagram.com/NatashaLForeman FB: https://facebook.com/NatashaLForeman Twitter: https://twitter.com/NatashaLForeman LinkedIn: https://linkedin.com/in/NatashaLForeman Theme Song: “Higher Up” by Shane Ivers Copyright 2022. Foreman & Associates, LLC. All Rights Reserved.