Over 40?
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Here are your Targets -
Socioeconomic groups, characterized by age, income, sex, education, occupation, etc., that comprise a market niche. A niche is a focused, targetable part of a market. Related terms are demographics, market research, mass market and positioning.
Whether you dream of owning a small store or starting the next big super chain, there are fewer exciting prospects than starting your own business. The number of people choosing to control their own destiny is growing and is open to people of all ages. According to the Department of Commerce, entrepreneurs over the age of 45 increased by 26% in 2005 and the average age of those who start their own business is 39. If you get it right the rewards can be satisfying – not only in financial terms but in the sense of achievement.
Some false conclusions are possible after reading that opening paragraph. For example, the average age is taken from the U.S. Department of Commerce statistics but do not hold true for internet only businesses. The average age for internet startups is 49.
That's quite a difference. The discrepancy is largely due to people in later life who may have faced downsizing or decided to try to control their own destiny. The greatest increase in new startups is from people born before 1960. There seems to have been a shift in attitude among younger people to seek employment rather than self employment. This factor seems to be playing out in approximately 50 year cycles. We leave to others to find out why that is happening.
The other side of the coin shows little change in buying habits, of all ages. Generally, the older the buyer, the greater the difficulty getting accustomed to less buying power. Remarkably, buyers over 30 seem to have little hesitancy buying products online, due mostly to the home delivery factor and savings on sales tax Etc. One buying power example is the cost of gasoline. In 1950 regular leaded gasoline was 22 cents per gallon. Today regular unleaded gasoline is $2.94 per gallon. The dollar's buying power has diminished by a magnitude of 10.
That is disconcerting to older folks but seems readily acceptable to the younger.
Therefore, business startups today are exactly the same as yesterday, except for a difference in currency values. The same rules for success must still be applied today. Some of the old adages are still true.
Never give away your bread and butter.
The customer is always right.
Apply the golden rule.
Relatives always think you screwed them.
You need money to make money.
Banks will loan money only if you don't need it.
There are lots more. Bottom line, if you want to do it YOU CAN but it isn't easy.
When you join with me, I will give you some ironclad advice that will get you on the road to success.
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