💡 Too Old to Be Hired, But Just Right to Be Your Own Boss (Issue 156)
Aging into entrepreneurship
“Self-employment rates rise dramatically as people age. Nearly 30% of employed people in their 70s work for themselves, almost double the share of self-employed people in their 60s,” says Cal Halvorsen, an associate professor of social work at the Brown School at Washington University in St. Louis. “That translates into about 1.3 million septuagenarian entrepreneurs.” (source)
As I approach my late 50s, I already see what is coming. I’m too young to retire, but too old to be hired. I’ve been watching my older friends and colleagues struggle in the current job market. Some have spent 1-2 years looking for their next job after a layoff. One mentioned they had applied to over 500 jobs and had not landed a single interview!
Some friends commented on that post, and the gist was, “Welcome to age discrimination!” It does take longer for older, more experienced workers to get hired. The phrase “overqualified” is often used to explain why a candidate doesn’t receive a job offer, but it can also be a code for ageism.
However, older folks still need to cover their rent or mortgage, pay for insurance, and buy that pesky food we all need to eat to survive. So, if no one wants to hire you, what are you to do?
Well, as many people are discovering, the only path forward is to create your own job. Build a business, become your own boss, and leave behind that annoying workplace age discrimination.
You can transform those decades of work experience, life lessons, and wisdom into all kinds of potential business models and offers. As I often say, it’s a bit like deconstructing your previous career’s “Lego pieces” and rebuilding something new and valuable with them.
Would you like to brainstorm some business ideas with me? You can schedule a complimentary call.
Larry Cornett is a business coach who works with ambitious professionals to help them reclaim their power, become more invincible, and create better opportunities for their work and lives. Do more of what you love and less of what you hate! Check out his new Invincible Solopreneurs Daily Journal!
This article hits hard for me