Appalled at the Treatment of NEW Boomer Entrepreneurs

I'm angry, that in a world that is constantly evolving with technology and new business models, a surprising demographic is being taken advantage of in the entrepreneurial scene — Baby Boomers. Now I'm not talking about the Boomers who have always been their own boss, I'm talking about the ones who thwarted retirement in favor of starting a new business AFTER they retired from the corporate world. Known for their work ethic and dedication, many Boomers are not interested in the quiet retirement life. Instead, they are venturing into the online entrepreneurial world, eager to invest their disposable income, including pensions and savings, into businesses that promise a fulfilling and financially rewarding post-retirement life...many in the self-less desire to help others with their own hard-earned life experience.

These statistics from the National Bureau of Economic Research indicate that entrepreneurship significantly increases with age, particularly post-retirement: 46% of individuals between 65-69 and 68% of those between 75-79 are self-employed, much higher than the 20% self-employment rate among those under 50. This suggests a notable inclination towards starting new businesses or continuing work as entrepreneurs among individuals post the typical retirement age.

Boomers' eagerness to enter the digital workplace as an entrepreneur has unfortunately made them targets for unscrupulous service providers. These providers lure in new Boomer entrepreneurs with promises of easy success and "done-for-you" business solutions. They exploit the Boomers' lesser familiarity with the digital business world, offering services and programs at exorbitant prices with little to no return on investment.

The statistics and stories are disheartening. Reports are surfacing of retirees losing significant portions of their nest eggs to scams, overpriced services, and ineffective business coaching. The issue is not only financial; it's also about the emotional and psychological impact on a generation that values hard work, trust, and integrity.

What's even more troubling is the sophistication with which these predatory practices are carried out. They use aggressive marketing techniques, tapping into the Boomer's desire to remain productive and successful. They often disguise their true intentions with technical jargon or overwhelming information and fast talk, making it difficult for the inexperienced entrepreneur to discern the legitimacy of the offer.

I have recently witnessed this happening to two amazing people, it seriously disgusts me and I want to do something about it!

The entrepreneurial spirit of the Baby Boomer generation is robust, and there are numerous legitimate and supportive networks and resources available. As a community of Generation X Entrepreneurs, and being the largest percentage of entrepreneurs at this time, I feel like it's only right to take a bit of our time to support and guide our predecessors in navigating this new terrain.

We can help by:

1. Educating: Providing resources and information on common scams and what to look out for.

2. Mentoring: Offering our expertise and guidance in understanding the digital landscape.

3. Advocating: Standing up against unethical business practices and reporting predatory services.

The journey into entrepreneurship, at any age, is fraught with challenges. But with the right support and resources, new Baby Boomer entrepreneurs can navigate this journey successfully and safely. Let's come together to ensure that the wisdom, experience, and entrepreneurial spirit of the Boomer generation is respected and valued, not exploited.

An Open Invitation for Support

As a fellow entrepreneur and Generation X member, I understand the nuances of transitioning into a digital business world. Therefore, I am offering a quick, FREE consultation call to any entrepreneur, with a special invitation to Baby Boomers who might need technical or operational guidance. Let's ensure you're equipped for success in this new chapter.

I also invite you, my readers, to extend your expertise in your area of specialization to these Boomers. Whether it's marketing, finance, tech, or any other field, your guidance could make a significant difference. Feel free to post your best contact information in the comments below.

The Boomers have paved the way for us in so many ways; now, let's ensure their journey into entrepreneurship is as safe, rewarding and successful as possible.

Here's my direct calendar link to book a phone call, a short free consultation, there are no "dumb" questions and there is no shame in asking how to do something or if something looks legit, etc... we all make mistakes, but at the very least, I am happy to be a sounding board to talk it through. My areas of expertise are all things operations, management, technology and systems (everything to RUN or start a business). Let's have a conversation - book here: https://christinewade.co/conversation/