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The Job You Make

Necessity, it is said, is the mother of invention. It’s also apparently the mother of entrepreneurship.

The New York Times ran an article last week noting that one of the fastest-growing segment of entrepreneurs is people aged 55-64. The number of people in that age group who are self-employed has grown 52% from 2000 to 2007. Part of that increase is due to a basic increase in Americans who fit in that age group—percentage-wise, the number of entrepreneurs among the post-55 set has increased a far smaller amount. But part of the increase reflects the increasing number of workers who are being laid off, or are taking pre-emptive buy-outs, and are starting businesses because they can’t find another job.

Just as there are “missionary” and “mercenary” entrepreneurs (missionaries being those with a transformative vision, as opposed to just a good idea to make money), there are also, increasingly, “voluntary” and “necessity” entrepreneurs.

Voluntary entrepreneurs have an advantage, in that someone who chooses an uncharted career path probably has the right personality for the particular challenges involved (income fluctuations and uncertainty, no support organization, delays and frustrations getting critical mass or traction, and having no clear path or “right” solution for how to proceed).

However, as the Times article noted, taking control of your own destiny—especially after an involuntary lay-off—can be incredibly energizing and empowering. A whole new set of possibilities opens up and … as any adventurer soon discovers … figuring the path out for yourself makes you realize you CAN figure a path out for yourself. And the sense of strength that comes with that realization is pretty powerful stuff.

It seems to me that older entrepreneurs also have an advantage—at least potentially—of having less rose-colored lenses in their world views than the twenty-something dreamers in Silicon Valley. By age 55, most people have learned that “and then I became famous!” is up there with “and they lived happily ever after” fairy tale visions. So the idea of carefully consulting with others who can provide financial, marketing, and business advice, proceeding cautiously, or at least deliberately, and keeping an eye out for potholes … is something “older” entrepreneurs are already well-versed in doing.

A companion piece in the Times even had some suggestions for matching life experiences with new careers … all good food for thought, to get the imagination rolling about what new chapter life might hold!

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