Thanks to Terry Brodie of GlobeandMail.com

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Call them seniorpreneurs or greypreneurs: Older entrepreneurs have several assets on their side

When many people think of startups, they think of youth. But “seniors have surged to the forefront of the entrepreneurial world of late” and the growing number of businesses being headed by older entrepreneurs has led to the creation of new terms such as ‘seniorpreneur’ and ‘greypreneur,’ notes this piece.

The story notes that the number of people aged 60 and over could reach two billion by 2050, according to the United Nations.

And while aging boomers are a target market for many products and services, on the flip side “is opportunities for seniors to branch out as seniorpreneurs.”

The article points out the growing number of those aged 55-plus who “seem to be rejecting the traditional model of puttering around a garden or golf course.” And they’re carefully planning a transition from a career “to arrive at the threshold of an entrepreneurial venture.”

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If that’s your urge, then take time, take stock and take care. Then, take action.

Are you energized about learning and doing something new and exciting with every coming year since you’ve turned 50?

Whether your response is a yelping “Yes!” a tentative “Well, maybe” or an anxious “Not really, but I know I have to, in some way at some point in the second half of your life, you will experience the natural desire or face a compelling need to rewire, reboot and resurge. The economic realities of the late 2000s eliminated the option of “No way” for most of us, because we will be working for longer than we ever thought. For most people that alone is “new and different.”

It’s not as impossible or untenable as it might seem. Whatever “camp” you’re in, I have good news for you: a rewire, reboot and resurge will absolutely power your life for the better. Just who am I to talk? In my early fifties, I was firmly in the “Yes!” camp of doing something new and different than my long career in marketing, only to embark on a series of soul-wrenching and workaholic career moves that challenged my overall physical, emotional and financial health. The experiences almost led me to believe that I couldn’t overcome even minor setbacks, let alone deal with bona fide crises. Making those career moves taught me a lot about resilience.

My resurge began in 2007, when I enrolled at New York University’s Stern School of Business to earn an MBA at age 55, graduating two years later, on my 57th birthday. Armed with extensive research I conducted while in business school, I started writing a book on how visionary, intelligent and motivated individuals over 40 drive and advance successful organizations, their careers, and their own personal development – despite the fact that many stereotypes cast midlife professionals as “over the hill” or “landing on a short runway.” Business school taught me how effective leaders get the right things done, not just by doing things better, but doing better things. Not coincidentally, I expanded my consulting practice to help other motivated individuals over 40 rewire, reboot and resurge. In the process, I’ve met and learned even more from other bold, brave people over 40 who are accomplishing more in the second half of their lives than they thought possible – even after great adversity.

Rebooting and resurging in midlife is necessary regardless of your calling, goals, stages, challenges, or roles – past or present. Whether managers or machinists; teachers or technicians; surgeons or salespersons; the fact is that all of us are CEOs – managers of our own lives. In carrying out our own mission and vision, we have much to learn from adapting sound business principles of good strategy (being effective), disciplined operations (being efficient with resources, especially time) and inspired leadership (managing ourselves and motivating others). We are all CEOs – with the “E” standing for enlightened, enriched and empowered.

Feeling the urge to rewire, reboot and resurge? Thinking “maybe”? Still in the “no way” camp?

Here are three Power Lines to get you going!

1. ) Whether your response is “Yesssss,” “maybe,” or “not really, but I know I have to,” you very well may experience a desire to do something different in the second half of your life. It requires taking the time to be thoughtful in figuring out what you really want; taking stock, so you lead with your strengths; and taking care, so you don’t compromise any aspects of your health. Then, develop an action plan to accomplish concrete goals and execute within a sensible timetable.

2. ) Figure out which “station” you’re in before you set a destination or route (i.e. your “strategy” for getting there). Here’s how:

If you answered “yes” and are looking forward to a new career, hobby, relocation, etc., but are not exactly sure what or how, then you’re ready for a first-class ticket on the rewired-not-expired express. You’re in good company: millions of people over 50 are determined to mash the myths, slam the stereotypes and bash the biases that people over 50 are “winding down.” Yay, you!

Your route/strategy: Focus on what you really want, figure out what or who is keeping you from getting there, and whether it’s your own diversions, distractions, or other time management issues that are stalling you. Then write down all the things you want to do – in the next five years, one year, six months, all the way down to the current month, week, day and even hours. It doesn’t mean you become a robotic efficiency slave; but, without plans and to-lists, the unimportant “dandruff” in your life (emails, Facebook, Internet overload) will consume you, and you’ll have no time or energy left for what will get you ahead. Focus on “a-head” and get the “dandruff” under control!

If your replies were more tentative “maybes,” today there’s an abundance of “maps” – reputable information, sound research, and credible advice about why it’s beneficial to start something new and different over 50, and how to deal with roadblocks. Many people who can’t or won’t get going on something new and different focus too much on their weaknesses and external obstacles. Laser in on your strengths – what you do well that you actually like to do. Strengths help you maximize opportunities.

Your route/strategy: Think about whether the pursuits you’re engaged in now are holdovers from the first half of your life. If you’ve already accomplished those earlier goals, then you really need to consider new pursuits. Either you regenerate, or you stagnate! Whether your new pursuits focus on personal goals, career transition, hobbies or community service, always be developing new ways to utilize your brain and maintain your physical health. The more you do physically, the better your brain performs, and a positive mindset accelerates exercise benefits, leading to more energy and more power over your choices.

If your reaction to rewiring, rebooting and resurging veer into the “no way but I really have no choice” zone, for you I have a special affinity and empathy. In this economy, financial and health challenges seem insurmountable. In fact, if you have to go back to work for the first time in many years, or you need to start work in a new career, new industry or new city, then it’s understandable that you’re stressing out. If you’re dealing with divorce, the death or prolonged illness of a spouse or partner, or your own illness, and the financial challenges of all these stressors, then you’re definitely overloaded. You may be too over-committed to sort out all the things you feel you have to do, let alone pursue new and different things you’d like to do.

Your route/strategy: You are the very person who needs not to rush into anything without first making a concerted commitment to build in private time to take care of yourself, so you also figure out what you really need and want, and what resources you need to help you. You have to make the time and effort to eat right and fit in exercise, even if it’s a short walk. You have to pay careful attention to your finances. Carve out quiet time, to journal, read, jot notes on index cards or on your smart-phone, meditate, pray, get a massage, a manicure or some other respite from your stress. You owe it to yourself and others who rely on you, to take that time. These are all coping mechanisms – for you they may be exactly the new and different things you need the most.

3. ) Dare to “arrive” at your final destination: create your own “Power Structure” and “Bottom Line” for the second half of your life. We all know that “power structure” usually refers to hierarchy in an organization. Your life has a hierarchy too – the Before, the Now and the Future. The Now and the Future should rule your own bottom line. Here’s an exercise I use in my workshops. Using one sheet of 8½ X 11 sheet of paper and a pen (computers and pencils make you think too hard and edit too much), write the following:

— a. Top half: Write ONE (1) sentence about what you dreamed, desired and were good at as a child (ages 10-18);

— b. In the same half: write ONE more sentence: what you dreamed, desired, achieved and were good between the ages of 20 and 40;

— c. In the bottom half and back of the page, write as much as you want on: 1) Your vision of the “perfect life” – when you look back in your 80s and 90s; 2) What you’re dealing with now that is keeping you from that perfect vision; 3) What you think you need to power up in your life – i.e., to rewire and reboot – so you can resurge and drive that vision to reality.

That exercise alone can help you see the many strengths you have and appreciate the opportunities before you, so you get going on your action plan.

Rewiring, rebooting and resurging help those of us over 50 to explore, examine and expand – creating new ideas, new insights, new solutions and new horizons. What energizes me is that the alternate route – to assume that I’ve “had a good run but now I’m ‘done’” – is so demoralizing I can’t even think about stopping now. Most likely, neither can you.

Yes? Maybe? No? Here’s what I dare you to believe: The power is yours. Use it or lose it. You are your own power station, in control of your own power structure. You are the only one who can take stock, take action and take charge of the rest of your life. You are the only one who can take care of your health, by making time to think, pray, read for inspiration, meditate, exercise and eat right. And, you are the only one who can take concerted action to make a plan, set concrete goals, get rid of the distracting “dandruff” that’s holding you back, access the right resources, stick to a schedule, and advance that plan to make the second half of your life even more powerful than the first. Think ahead – I DARE you!

Get DARE From Here!

Share Your DARES with us - and download a free chapter from my new book:

Get DARE From Here – 12 Principles and Practices for Women Over 40 to Take Stock, Take Action and Take Charge of the Rest Of Their Lives!

Fill in your email address in the box below, and you will then see a form to add your DARES.

Then check your email box – you will receive an email with a link to download the book chapter.

Share Your DARES! Email:

With the publication of my book, “Get DARE From Here” 12 Principles and Practices for Women Over 40 to Take Stock, Take Action and Take Charge of the Rest Of Their Lives,” I’m meeting even more women over 40 who are pursuing new DARES in their lives, while refusing to let the myths, biases, stereotypes or any other impediment get in their way.  In fact, many of the women I’ve met turned impediment to impetus, impetus to inspiration, and inspiration to instigation!

Over the next few months, we’re going to feature many of these women’s stories of DARE-ING over 40.

In the meantime, we want to learn more about how women over-40 across the U.S. plan to DRIVE, ADVANCE, RULE, and EXPRESS their EXPERIENCE and EXPERTISE in the next half of their lives.  To do that, we’re launching a “How DARE You -Over 40! Share Your DARES With Us Challenge.

To be clear, this is all about YOU, and your DARES for yourself, so we want to encourage AT LEAST 40,000 visionary, intelligent, motivated women over 40 across the U.S. to tell us how and what they want to DARE for themselves -in their personal lives, careers or a social cause they care about.   Need more impetus or inspiration or instigation of your own?  Read on!

A few months ago, The DARE-Force conducted a survey, with the question, “Over-40 Women -What’s Your Big DARE? The results were fascinating, especially because 85% said their big DARE was in their professional lives, 30% in their personal lives, and 23% said their big DARE was related to a social cause they cared about.  The big eye-opener -and heartbreaker -for me was the #1 reason our respondents said they could not pursue their Big DARE.  But first, here’s what they want to DARE:

1)      The majority of the participants said they are happy in their current romantic relationships, or at least are sure they won’t leave their partners anytime soon! 63% said they would not leave, while 18% said “I’d like to if it were not too scary” Hmmmm… so almost 20% of over-40 women would leave their current relationship if they were not too fearful of leaving?  Amazing!

2)      There was a fairly-even split on who wants to fall in love again: 30% said, “No Way!” but 38% said, “I’d love to.” All’s DARE in love and war – age be damned!

3)      38% said they’d love to go back to school: Yippee, do it, do it, just do it -you won’t be sorry! -and -

4)      A whopping 58% said they would love to start a non-profit. How wonderful is that!  The entire last chapter of my book, Chapter 12 -titled: “Exchange” is all about giving back!

5)      I also particularly love the fact that 38% of the participants would love to do something really DARE-ING, like skydiving, scuba diving, or mountain climbing!  Chapters 10 and 11 in the book are all about “If not now, when!”

So, here’s the heart-breaker:  When asked “What stops you from doing your Big DARE?”  a staggering 92% answered “money”   The heart-warming news for me is that the answer was not “age” or a refrain similar to “I’m too old”  No way is age an obstacle to most women over 40 who have the vision, intellect and motivation to DARE!

Regarding money, here’s some inspiration and instigation:  there are more resources than ever to help DARE-ING women over 40!  More than a few financial institutions have taken note of us, among them:  Charles Schwab Inc., whose marketing campaign is one of the most intelligent in any medium; Citi’s excellent Women & Co. portfolio of products and services (headed by a visionary, intelligent and motivated woman over 40 whose leadership has transformed the mission, vision and success of the unit); PNC Bank, which is one of the few banks that seem to really care about women, especially entrepreneurs; and a notable nonprofit, Women’s Institute for Financial Education, www.wife.org, also headed by two visionary, intelligent and motivated women over 40  who have done so much to help women of every age, persuasion and financial means, to take charge of their own financial security.

In previous blogs I have waxed on about going back to school (it was truly one of the best things I ever did, to go back and get my MBA from NYU), and I’m not wavering from that DARE to any woman over 40 who has the nerve to re-enter a classroom as a student. With the continuing weakened economy, and global demand for higher levels of skills and education, adults are re-enrolling in college campuses across the nation and online. The stats are compelling:[1] studies are showing that 75% of future jobs will most likely need some type of certification or licensure, and those professions that demand a BS or BA will grow 50% faster than the national average. So, a college degree looks more and more a necessity and a good investment.

By going back to school over the age of 40, if that’s one of your DARES, you’d be one of huge numbers: recent statistics from the U.S. Department of Education[2] are revealing that adult students are now the fastest growing demographic in the educational arena, with those numbers increasing steadily. Boosting existing skills, or coalescing the experience and expertise you already have via an academic certification or graduate degree will also help boost your confidence as well as your competence.

We Baby Boomers know we’ll be living longer, and we demand more from our lives -from both our personal and professional pursuits.  We want fulfillment, not just a job. More DARE-ING women aged 55 to 79 are deciding what they want to do in the next few decades, and not all of them want to go on cruises or daily frolics on a golf course (not that there’s anything wrong with that!). A report from The American Council on Education, entitled, Framing New Terrain: Older Adults & Higher Education, shows that more and more, older adults are returning to college in record numbers, and they are DARE-ING to pursue new career ideas, start new businesses, and pursue other fulfilling lifelong dreams.

So, there -or DARE! -you have it!  Despite age, money, or any other factor that in previous generations might have been an impediment, women who DARE today consider an impediment an impetus!  Join us!  We want to know more about how women over 40 plan to DRIVE, ADVANCE, RULE and EXPRESS their EXPERIENCE and EXPERTISE over the next few months, the next few years, and in coming decades. Become a part of The DARE-Force’s  “How DARE You -Over 40! Share Your DARES With Us” Challenge!  We want to encourage AT LEAST 40,000 women over 40 across the U.S. to tell us how they DARE, what they want to DARE, where and when they want to DARE.   (If you want your DARE kept confidential, please indicate that in your message to us.) In a few months, we hope to have a lot of DARES to Share with other visionary, intelligent and motivated women over 40.      

DARE-ingly Yours,

Liz DiMarco Weinmann

Founder & CEO

The DARE-Force Corporation 

First, let’s define what “daring” and “fearless” mean when we’re talking about work. In today’s economy, being daring and fearless at work means knowing what your deal is, and how to deal. In my book and in my work, the word “Deal” refers to your strengths, weaknesses, opportunities and threats – in fact, chapter 2 of the book is actually titled, “Deal.” Being daring and fearless means you lead with your strengths and opportunities, while keeping your weaknesses and threats in check as much as possible. If you’ve built your life (and/or career) around a certain routine or skill set, and you’ve been successful at it, it’s easy to see why you might want to stay in your current parking spot rather than deal with change, or seek out and negotiate a new deal. Being daring and fearless means you resist that inertia, because what you don’t do to bring about positive change in your deal, actually can hurt you. At some point, we all need to dare re-vamp our deal.

+ What are some ways women can enact their fearlessness at work? What should they not do?

The most important way that women can enact their daring and fearlessness at work is to cultivate influential and powerful people who can champion you – not just assist, mentor or advise you. You need to cultivate, secure and exchange your talents with those of sponsors – persons of power and influence who actively champion your mission and vision. If working under the tutelage of a sponsor seems counter-intuitive to being daring or fearless, please know that a sponsor with access to decision makers, financial resources, and proprietary information that you can’t access on your own can make you very daring and fearless indeed. Finding a sponsor involves seeking out someone who can motivate you to dare even further, which also means you have to learn about your sponsor’s priorities, motivations and needs, and where there are common ground and mutual benefit for both of you. Working with a sponsor is an exchange. It works best when there are complementary skills and talents at work.

As for what women should not do to enact their fearlessness at work:don’t confuse being daring and fearless with being reckless or ruthless. Our current economic state is grave evidence that morally or ethically suspect activity is not only reckless but can have dire consequences for your life, not just your career. Also, review the definition of the word “ruthless,” which has become a synonym for “driven” or “tenacious” – not an apt one. In that regard, know the values of the firm and industry in which you operate; then decide how you and they define “ruthless” and how that jibes with your own ethics, values, morals and ideals. Chapter 7 of my book, titled “Reason,” discusses this issue in great detail, especially how to protect yourself in situations where your definition of daring and fearless may conflict with that of your company or industry.

+ What are the benefits for working women to be more daring or fearless?

Demonstrating that you can 1) create, secure and manage new revenue streams, or 2) devise effective ways to reduce costs, will make you feel very daring and fearless. The benefits are that you increase your conviction, competence and confidence, becoming more daring and fearless. Being skilled at driving revenue or reducing costs makes you one of the most valuable persons at any organization, in your own business or in another organization, whether in the public, corporate or nonprofit sector. Increasing revenue and/or containing costs both involve extreme focus, research, empathy, and drive. Here’s why:

Focus,because to be daring and fearless you really have to become an expert in your industry, which also means you are constantly looking for new or better products, services or clients to explore.

Research, because you have to demonstrate and substantiate that your recommendations are based on real-world facts and quantitative metrics.

Empathy, because focus and research often start with listening, observing, or staying quiet, before peppering someone with questions and volunteering suggestions.

Drive, because sometimes you need to muster up, shore up and deploy different kinds and levels of energy and intellectual firepower than those within your usual comfort level or way of operating. It takes a lot of drive to adapt to the point where you are in fact daring and fearless – as opposed to reckless or compromised.

+ Where can women go for more info and resources on being daring/fearless at work (other than your site/book, which we will link to)?

Here are just a few of my favorite books about being daring and fearless, including how to negotiate a better deal and how to sell anyone almost anything.

1. Marshall Goldsmith and Mark Reiter, What Got You Here Won’t Get You There: How Successful People Become Even More Successful (Hyperion, 2007)

2. Marcus Buckingham and Donald O. Clifton, Now, Discover Your Strengths (Free Press, 2001)

3. David Allen, Getting Things Done: The Art of Stress-Free Productivity (Penguin, 2002)

4. G. Richard Shell, Bargaining for Advantage: Negotiation Strategies for Reasonable People, (Viking, 2000)

5. Jeffrey J. Fox, How to Become a Rainmaker: The Rules For Getting and Keeping Customers and Clients (Hyperion, 2000)

6. Susan Jeffers, Feel the Fear and Do It Anyway (1987)

Let me set the record straight, and at the same time offer up some tips for over-50s now contemplating switching careers:

1)   Boomers aren’t exactly stampeding to the golf courses or beaches. That hackneyed cliché is an egregious insult to boomers who look forward to continuing their productive careers or starting fulfilling second careers. It is most insulting to boomers who have lost their savings, and even their homes.

2)   The work experience and expertise of boomers make some of us costly hires in this economy. Headhunters and American corporate expatriates advise boomers to consider international work, citing India, China and Vietnam as attractive emerging markets.  However, some skills may be moot even in a rebound, if the industries or companies that used to need them are mature or defunct – here and abroad. Boomers who are interested in leadership positions should also seek out small or mid-size firms rather than large corporations. Private equity firms, though somewhat dormant right now, look for experienced leaders to fill C-suite positions in their portfolio companies.

3)   For career-switchers over 50, there’s another indignation: headhunters and corporations call us “seasoned professionals with a short runway.”Some presume boomers will work only five to ten years more before we retire, and therefore we’re not worth the investment. Glenn Okun, a successful venture capitalist and finance professor, has a very different view: he recently told a group of MBAs ranging in age from late 20s to mid-50s: “You’re all going to be working until you’re 90 years old.”

4)   A warning regarding career switching: many boomers jump to nonprofit without considering the risks, especially if the salary is comparable to their corporate pay. Don’t presume that your hard-driving private-sector persona will be welcome everywhere. It’s a very hard transition for individuals who are used to focusing almost entirely on quantitative goals and metrics without considering the cultural ramifications. Again, know what you want and need, especially the ROLE you want to play, regardless of title and salary.

Here are some powerful strategies that reflect the advice of psychological counselors, social workers, management consultants, business academics and executive coaches who work with individuals in transition in their personal lives or careers:

1. Develop a concrete plan of action. Have clearly defined objectives, desired outcomes and a strategy for managing your transition and your finances, along with a firm deadline and benchmarks along the way. Focus on delineating what your key priorities are, what you really want and need from life, what you’re passionate about for yourself and for your loved ones. Be honest about your deal-breakers as well as what you would be willing to compromise.
2. Write in a journal about what’s on your mind, how your anxiety might be connected to past experiences, and what this means for your future. Journals can become powerful personal development tools that impart a holistic view of what’s going on in your life, eventually transforming your vents and rants into insights and solutions.
3. DARE to spend time alone. Friends, colleagues and experts are a welcome source of counsel and support, but if you’ve just had a serious loss, you need time alone to process it, be angry and mourn. If you haven’t developed strategies for being alone to take care of yourself, it could be very lonely, and drive you to fill the void with people, activities and things that could thwart your ultimate goals for moving forward.

Above all, research, train, and learn how to prevent or survive a crash landing. 

Remember the infamous news story: a 58-year-old former fighter pilot and trainer with thousands of hours of experience and expertise, who commandeered a massive mess of machinery and flammables with over 160 people aboard, and prevented what would have been their certain deaths, and that of thousands of other people. It was a seasoned professional (to use headhunter jargon), supported by an expert crew of equally seasoned professionals, who shepherded everyone on board that day to walk on water, literally, and return safely to their families.

I DARE ask: how many 30-somethings could have done that? Short runway, huh? Run that one by me again.