Entrepreneurship is an excellent career option for those who either do not wish to participate in the traditional labor force, or are unable to thanks to high unemployment rates. Of course, due to the nature of the economy, the people who tend to face the latter problem are generally older.
A recent article in Forbes focuses on these individuals and offers tips for those who wish to get the upper hand in an increasingly competitive marketplace.
First, it cites a study by the NEOMA Business School in France, which found that older people tend to spend less time working on innovative activities that are designed to generate a long-term return. The reason why is fairly clear—after all, the older we get, the less time we have. Therefore, we have less of an incentive to invest in our future, and instead focus more on the present.
However, this is not to say that older individuals cannot innovate like their younger counterparts. Though it is true that it can be difficult to learn new technologies and skills as people age, the article points out that the entire culture surrounding aging is changing—often for the better. In short, fifty-year-olds today are not acting like their parents did at that age. They are more active and generally try to act younger.
This desire can be combined rather effectively with the years of experience that an older person has already accumulated. It can be a powerful combination.
But no one has to innovate alone. Sometimes entrepreneurs need design or product development assistance, no matter their age. At Sozo Design, we infuse new ideas and bring different ways of thinking to the table for our clients. As the old saying goes, two heads are better than one.