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Baby Boomers Building a Business and Leaving a Legacy
Entrepreneurs

Building a Business and Leaving a Legacy

Did you know that baby boomers have become the new entrepreneurs? In fact, we’re creating new businesses at a torrid pace, unmatched by the youngsters. In the process, we’re obliterating the ageist assumption that women in their prime are risk-averse or insecure – rather we’re confident and competent because of our life experiences.

A new national survey, cited in a Fast Company article on baby boomers, found that the age group most likely to consider themselves entrepreneurial is Baby Boomers. The findings, in which 45 percent of respondents from 50-69 compared to just 32 percent of 18-29 year olds, labeled themselves as entrepreneurial.

This goes against the stereotype of the tech-savvy, startup-happy young graduate. Several studies corroborate the idea that women in the second half of life aren’t just entrepreneurs – they’re good at it. For example, the Kauffman Foundation found that the average age of entrepreneurs is actually rising, with the largest growth in the 55–64 age range and the smallest growth among 20-34 year olds.

How Can This Be?

Marc Freedman of Civic Ventures states in this Fast Company article that “people in the second half of life are more likely to be looking for a way to combine passion, purpose, and a paycheck.” That is, they’re in pursuit of a life that allows them to combine their values and interests to build a business that matters – that does well and does good!

Every month in my new column Spotlight, you will meet women in their prime who are entrepreneurs, business owners and non-profit leaders telling their unique and inspiring story. You’ll find out:

  • Why they started their company or organization
  • The challenges as well as the satisfactions they’ve experienced
  • Where they are today in their life and business and their plans for the future
  • How being in the second half of life has been a benefit in their business journey
  • Their lessons learned so far in their journey in building a business and leaving a legacy
  • The business and life advice they would give to women who are moving into their prime

We, women in our prime, have an excellent chance for business success due to our skills, experience, contacts and the work ethic many of us grew up with. So readers, if you have the desire to build your business and leave a legacy, go for it!

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