How Boomer Women Business Owners Do Well And Do Good
Baby Boomer women have a lifetime of experience, skills, self-knowledge, and wisdom that make them well qualified to start and grow a business of their own. Now in their 50s and 60s, this generation is ready to take charge of their lives in new ways.
Free of the time demands associated with raising children and confident enough to find work that inspires them, these women are turning their hobbies, passions, or professional expertise into businesses of their own.
But this will not be “business as usual.” In a fast-changing and turbulent world, Baby Boomer women are ready to create greater meaning in their own lives and in the lives of others through their entrepreneurial initiatives. Many are committed to doing “well” by building a successful business, while doing “good” in the world at the same time. Success to many Baby Boomer women involves working in a business they are passionate about, not just one that can pay the bills or provide luxury items.
While the majority of entrepreneurs may start their businesses with big financial goals, there are more important aspects involved in a Baby Boomer business plan. Here are Five Cs that can be used to clearly define the priorities of many Baby Boomers in how they will build and operate their own businesses:
* They have Concern for the world in which we live, and their business will reflect that concern.
* They make Connections with others, and have a need for socializing and networking.
* They build Community.
* They express themselves Creatively, and are not afraid to think outside the box or take actions that are a bit outside the ordinary.
* They value Character in making decisions.
Although serious about earning a living and generating a profit, Baby Boomer women see transitioning into self-employment while still maintaining their current career, or after their retirement, as a way to give back to society and to make a difference. At this stage of life, they strive to live their values and use their strengths to create a business that reflects their authentic selves.
No longer is it contradictory for businesses to do well and do good. Watch for a growing number of Baby Boomer women-owned businesses that change the nature of our business community by leading the way with businesses that:
* Strengthen our economy
* Enrich our communities with meaning
* Address society’s social problems and work to provide solutions
* Model a new way to live life after 50 that doesn’t necessarily include long hours in the rocking chair on the front porch
For companies that want to serve the ever increasing market of women baby boomer business owners, it’s important that their motivations at this mid-life stage of their lives are understood. Although this is a diverse group, be mindful of the general tendency at mid-life to have a strong desire to give something back, participate in activities and events that are meaningful and to create a legacy. Speak the language of this market to gain their attention and understand their passions.