Best Business For Baby Boomers?

Best Business For Baby Boomers?

Baby Boomers are all to often discouraged that their career skills are outdated for today’s job opportunity market. While this may be true in some business sectors, other businesses are thriving because of the “life” skills baby boomers bring to their jobs.

Robert Kay retired from his career of 43 years as an account executive for a large retail corporation when he was forced to “retire or be let go.” His wife Georgia was in advertising before becoming a full time mom raising their 5 children, now all grown. The Kay’s knew they were not ready to fully retire yet as the economy grew worse and job prospects were shrinking. “We were torn. The idea of just throwing in the towel and retiring now was really appealing, but at the same time we felt we still had plenty to contribute to the world and our community.” When a friend introduced them to a home based business marketing Travel, they just about fell out of their seats. “Here was a perfect opportunity to work from home, set our own schedule, travel whenever we wanted and keep income coming to us for as long as we wanted

Many Baby Boomers are seeing home based businesses, in particular direct sales and network marketing, as a viable and profitable alternatives to re-entering the traditional work force. Many are surprised to find that they already posses the skills necessary to be successful in their new business. “What we didn’t know, we learned through the company’s training and mentoring programs as well as just talking with others already in the business- not just locally but all over the world,” says Robert.

There are many reason baby boomers do very well in direct sales/network marketing. Here are just a few of the reasons.

Time- Boomers in retirement or facing retirement realize that time is on their side. They also know how to manage time well. After 20 years balancing work and family life, they have learned to use time wisely and invest it in all the right places.

Social Networking- Boomers use their time more in interactions with friends and family, joining clubs and activity groups, volunteering and networking in person and online. Networking is at the heart of any business and boomers do it naturally.

Demographics- Boomers represent the largest and wealthiest sector in the US. Skeptical of the lack of experience of “younger generations,” boomers are more likely to purchase products from the other boomers.

Product- Boomers have a plethora of products and services to market that target the needs and wants of boomers. From heath care, beauty, retirement planning, travel and leisure, insurance and education- any boomer can find a product or service that peaks their interest.

Profit- Boomers (especially full time moms) already know that “many hands make light work.” The success of a Network Marketing business is largely dependent on building a team of fellow net-workers. The “many hands” doesn’t just make “light work” it also means bigger, easier, profits. Georgia commented, “It’s great to be in a business where I am not only promoting a product I love but I am helping other people become successful, achieving their dreams, and getting paid for it. No other company I or my husband worked for allowed us to help people on a personal level like this.”

Utilizing the life skills boomers already have, a home based business is an ideal alternative career choice for many boomers but it isn’t for everyone. Many people get involved thinking it’s a get rich quick scheme. Talking the time to become familiar with the product, the marketing plan, compensation plan and the stability of the parent company will help boomers find the right business for them.