the roi in you: how baby boomers can cash in & build new entrepreneurial business careers
DESCRIPTION
Continuing to work post-retirement is often an attractive option for many reasons – but doesn’t it defeat the purpose of retirement to have to return to a grueling work schedule? With so many years of experience in the workforce, there should be a way for you to contribute your expertise to companies while still making the most of your retirement.Luckily, there can be a better way! Many retirees are turning to independent consulting – in fact, baby boomers and mature workers comprise 30 percent of the independent workforce according to our recent Independent Workforce study.If you’re not quite ready to retireFor a person who’s worked 40 hours a week every week for the last 30 to 40 years, the suddenness of retirement can be brutal. Many retiring workers find that they actually have too much free time on their hands – yes, you read that right.If you overestimated how much you’d really enjoy fishing for eight hours each day, every day, continuing to work a little in your industry could be an ideal way to stay occupied while earning some money. As a consultant (assuming you have worked to hold on to the valued contacts and network you have built up during the course of your career), you can work as much or as little as you like – so you still have time to pursue those leisure interests.For example, take one of our independents. Ward turned to government contracting almost immediately after his retirement from the CIA. He walks 3-4 miles a day, plays golf twice a week, and takes frequent day trips with his wife – all while also working as an independent professional.If you need supplemental incomeThe baby boomers started to turn 65 in 2011. Do you know what that means? That means that every single day for almost the next 20 years, more than 10,000 Americans will reach retirement age. If you’re one of these new retirees, you may find yourself in need of supplemental retirement income, either due to under-preparation for retirement or some sort of unforeseen financial circumstance.For a retiree in need of an additional income source, independent consulting can be the perfect option. With the growing project economy, many companies are looking for highly skilled candidates to help execute important – but relatively short-term – projects. Your wealth of experience, combined with a higher level of personal maturity and accountability, makes you an attractive and desirable candidate.Transitioning to consultingIf you’re ready to become an independent consultant, there are a few steps you can take to ensure you are successful as a member of the independent workforce. For example, you’ll want to set up a LinkedIn profile to help network and market your skills. We will be holding a webinar on how baby boomers can cash in on their earned expertise at the end of the month. Register Now!Most importantly, don’t forget to contact the experts at MBO Partners with any questions or concerns along the way.TRANSCRIPT
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THE ROI IN YOU:HOW BABY BOOMERS CAN CASH IN & BUILD NEW ENTREPRENEURIAL BUSINESS CAREERS
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YOUR HOSTS TODAY
STEVE KINGPartner, Emergent Research
GENE ZAINOPresident & CEO
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STEVE KING
➤ PROMINENT RESEARCHER & CONSULTANT➤ RESEARCH FOCUSED ON:
• Growth of small business• Future of work• Independent work
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WEBINAR CONTROLS
The full screen iconmaximizes thepresentation area.
The raise hand icon alerts the organizer that you have a question or comment.
The chat box allows you to send a question to the presenter.
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➤ SIGN-UP FOR THE SERIES!• Email [email protected] to be informed of the entire
series or to provide topic suggestions.
THE MBO WEBINAR SERIES
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➤ REVEAL NEW BOOMER DATA
➤ WHY ARE BOOMERS EMBRACING INDEPENDENT WORK
➤ BOOMER BUSINESS OPTIONS
AGENDA
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STATE OF INDEPENDENT WORKFORCE STUDY
➤ INAUGURAL RESEARCH REPORT• Conducted by Emergent Research in partnership with
Rockbridge Research• Took place during Summer 2011• 1,144 U.S. residents surveyed• 601 independent workers filled out qualitative surveys• Data weighted to reflect U.S. demographics
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Boomers represent 5 million (31%) of the 16 million
independent workers in America today.
Another 8 million Boomers show interest in going independent by
2013.
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5 MILLION BOOMER INDEPENDENTS
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REASONS FOR CHOOSING INDEPENDENCE
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THE CHALLENGES OF INDEPENDENCE
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Work/Life Flexibility
WHAT’S DRIVING THE SHIFT?
Desire to Stay Active
Lack of Job Options
Cheaper & Easier
Financial Need
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➤ TECHNOLOGY HAS MADE IT EASY➤ THE ABILITY TO LEVERAGE EXPERIENCE➤ RISE OF THE PROJECT ECONOMY
WHY NOW?
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BOOMERS & THE PROJECT ECONOMY
“Project based work often relies on diverse individuals that carry a unique level of expertise in a particular field. 77% of companies surveyed said that they use Independent Consultants because they need specialized skill-sets for projects.” – 2011 Aberdeen Research Report
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HOW DO YOU CAPTURE THE ROI IN YOU?
$
$$
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FINANCIAL CAPITAL – THE FUNDINGCash, banks, investors and ROI
INTELLECTUAL CAPITAL – THE IDEASThe plan and the guts
SOCIAL CAPITAL – THE RELATIONSHIPSThe people and community to sell to
$
THE CAPITAL NEEDED TO START A BUSINESS
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V
The Traditional Economy:Funding-Centric Businesses
The New Expert Economy:Service-Centric Businesses
Financial Capital Intellectual Capital Social Capital
CAPITAL ALLOCATION STIMULATES NEW BUSINESS MODELS
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BOOMER BUSINESS MODELS
Project Team
Broker
Independent Consultant
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INDEPENDENT CONSULTANT
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YOU AS BROKER
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BUILD PROJECT TEAM
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INDEPENDENT BOOMER STORIES
Ward ManneringVienna, Virginia
Jane ApplegateSharon, Vermont
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TAKE OUR QUIZ!Link will be sent via email with slides after webinar
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➤ EMAIL [email protected]
➤ VISIT OUR WEBSITEwww.mbopartners.com
➤ FOLLOW US ON TWITTER@mbopartners
➤ SIGN-UP FOR ADDITIONAL INFORMATION• Receive updates for upcoming webinars - email
[email protected]• Sign up for new Independent Consulting Brief at
WANT TO LEARN MORE?
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THANK YOU
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