StartingOverNow.com
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Ideas to Start Your Own Business During Your
"Meanwhile" Time
Many who have been laid off or are trying to break into the workforce
in a new field have been met with the reality of an economy in a
downturn. Jobs are in short order. Opportunities to change careers
are scant. And the outlook for the future does not bring promise. So
many people are finding that during their “meanwhile” time, starting
their own business might just be a blessing in disguise. It helps
generate income while you seek other pursuits and if successful
enough it just might be the last job you ever have.
Entrepreneur Magazine touts three key markets for start ups in 2009:
the Green Market, the Millennial, Market and the Boomer Market.
Green Market
Currently the Lifestyles of Health and Sustainability market is worth
$209 billion and covers areas from water and clean energy to
organics. Big names like H&M, Nike and Target now carry green
apparel lines, but there's still room for entrepreneurs.
The exploding craft market--now $30 billion per year, according to
the Craft & Hobby Association--is not just turning consumers into
creators; it's inspiring a new breed of entrepreneur – and many of
their products are green!
Etsy.com is a place where $20 million handmade products from
65,000 sellers have been sold since 2005. While craft supplies like
jewelry kits, knitting supplies and scrapbooking materials are
popular sellers, so are the end results of those crafts.
Millennials Market
Also known as Generation Y, "echo boomers" and the "net
generation," Millennials were born anywhere from the late 1970s to
the early 2000s. They are for the most part under 30 and account for
$1 trillion in buying. They spend a lot of time on the Web, are the
9/11 generation, are very socially responsible, feel obligated to
make a difference in the world. They own brands and messaging
as they comment throughout the Web on just about anything.
Millennials want to find clever products that meet their high
expectations with solid customer service.
Baby Boomers Market
On the other end of the spectrum, you'll find boomers, the 76-million-
strong generation born between 1946 and 1964 that accounts for $2
trillion in annual spending. When determining their needs, think
about life stages as age is just a number to boomers. Think of
them in terms of their needs for that stage: empty nesters, singles,
grandparents and so on.
Financial planning, travel and anti-aging products and services are
just a few of the booming market segments to consider. As
boomers age healthcare staffing becomes a growing industry. The
Bureau of Labor Statistics shows an expected shortfall of more than
1 million nurses by 2020. It helps to have more than just recruiting
and staffing experience; you need to have your finger on the pulse of
the medical community. "At the end of the day, you have to have a
genuine interest in your candidates' lives.
The population is aging – by 2030, the number of adults age 65 and
older will double to 70 million. No one is feeling the crunch more
than baby boomers, who now find themselves in the "sandwich
generation"--caring for both their children and their aging parents.
An estimated 44 million Americans provide care for elderly family or
friends. BoomerGirl.com is an example of a media company that
provides news, information and community advice to baby boomer
women.
Helping both the sandwich generation and seniors is Pamela J.
Braun, a licensed clinical social worker who founded Geriatric
Assessment, Management & Solutions LLC in Sun City, Arizona.
She provides assessment and evaluation, medical appointment
coordination and medical/legal power of attorney services. With
annual sales between $300,000 and $400,000, Braun, 43, says,
"The biggest reward is being an advocate and knowing you're
making a difference in the quality of these people's lives."
Senior Products
As Americans age, they become more concerned about brain
health. Five million Americans already suffer from Alzheimer's
disease, and that number is expected to rise to 16 million by 2050,
according to data from The Alzheimer's Foundation of America.
Dakim Inc. created the mPower Cognitive Fitness System which is a
touchscreen system that lets seniors play games, puzzles and other
challenging and fun cognitive activities. The owner got the idea after
designing games for his father, who was suffering from Alzheimer's
and sold the product to senior living facilities.
According to the American Association of Retired People, 90 percent
of seniors want to stay in their homes as they age. In-home
nonmedical care companies provide services to help them do just
that. To enter the assisted living market, start by approaching
caregivers. Think about what would make life easier for both
patients with dementia symptoms and their caregivers.
As the oldest of the 77 million U.S. boomers begin retiring, their
open positions will offer younger boomers new opportunities. Smart
executive recruiting firms will target these seasoned workers and
find places for them to put their talents to work as many do not want
to become sedentary in retirement and many need additional
income.
According to the International Health, Racquet & Sportsclub
Association, the number of health club members over age 55
increased 314 percent from 1990 to 2005. Senior fitness facilities
are becoming more popular. American Senior Fitness Association
(seniorfitness.net) has info on the industry.
So if you are in a “meanwhile” time of your life, read up and study
some new opportunities that may be out there. Think outside of the
box. Could starting your own business be an opportunity for you?
Start now!
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Mary Lee Gannon is a career advice expert who went from being a
stay-at-home mother with four children to divorce, poverty and then
on to become a newspaper reporter, trade association executive
director, public relations consultant, and foundation president and
CEO. View Mary Lee’s free career tips, worksheets and Blog on her
website at www.startingovernow.com. Contact Mary Lee at
info@startingovernow.com.



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