It all started with an article in the Wall Street Journal about preparing for retirement. It suggested that after leaving the corporate world people focused on managing their investments, exercised, traveled or mentored younger people but they didn’t “work”.
But in today’s world, life’s second stage can look very different. Many boomers and GenXers today, whether by choice or necessity, choose instead to follow their passion and pursue their entrepreneurial dreams. In fact, the Center for an Urban Future reported that the number of entrepreneurs in the 45 and over age group was growing significantly and that Americans over 45 are more likely to become entrepreneurs than Americans under 45.
But the media focuses primarily on millennial entrepreneurs, like how Mark Zuckerberg started Facebook or when Steve Jobs started Apple, and most entrepreneurship programs are focused on helping younger people (teenagers, millennials, people in their 20s-30s”) start businesses. As a result, the older entrepreneur is often operating without a roadmap or support community.
That’s why we have started Startups By Grownups. We believe the older entrepreneur is a true inspiration to anyone considering joining the 10-15% of the population who want to do something motivated by themselves rather than work for others. Besides, with actuaries suggesting that people will live, on average, into their 90s and 100s, and people starting to be “retired” or “downsized” in their 50s, there’s a lot of time to try new experiences.