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7 Traits of Entrepreneurial Baby Boomer Women by Amy Grossman

October 25th, 2016
The first wave of Baby Boomer women, now in their 50s and early 60s, are evaluating the idea of striking out on their own as entrepreneurs.

7 Traits of Entrepreneurial
Baby Boomer Women

by Amy Grossman
Business Consultant

The first wave of Baby Boomer women, now in their late 50s and mid 60s, are evaluating the idea of striking out on their own as entrepreneurs. Many are looking for an “encore” career where they can pursue what they care about and generate an income for the second half of life.

Merriam-Webster Dictionary defines an entrepreneur as a person “who organizes, manages, and assumes the risks of a business or enterprise.”

Since job opportunities can become more limited at this life stage, starting a business with limited risk can make sense. It’s not for everyone. Many women in midlife who become inspired to take an entrepreneurial path have 7 traits in common. This holds whether they plan to launch a business that grows to be big, or they plan to keep it small - possibly as a solo-entrepreneur and home-based.

1) Autonomy
Entrepreneurs have a strong desire for autonomy. Women at midlife often lose patience playing by corporate rules and want to call their own shots and put their own values first.

2) Resilience
Entrepreneurs have the ability to bounce back from setbacks. It takes resilience to get through the roadblocks that will inevitably show up. At midlife and beyond, women have learned to be resilient as they’ve weathered life’s ups and downs.

3) Initiative
Entrepreneurs are self-starters. The most successful entrepreneurs also keep the momentum going after the initial burst of energy.

4) Confidence
Entrepreneurs believe in themselves and get others to believe in them too. They have the confidence to find the resources they need and the ability to ask for help and support.

5) Intuitive
Entrepreneurs have good business instincts. They use left-brain rational thinking to analyze problems, but they also trust their intuition, which is often correct. Women tend to trust their intuition in business more often than men.

6) Decisive
Entrepreneurs are action oriented. They make decisions and take the actions required to get them to their desired results. Midlife women have had a lifetime of experience to fine-tune their decision-making ability.

7) Connects
Entrepreneurs build relationships. They build networks and thrive on seeing opportunities for connections for mutual benefit. At midlife, women have well-developed networks, which is an advantage in starting and sustaining a business.

This is not the definitive list, but you might find its perspective helpful. For fun, rate yourself on each trait and then answer the question: “How entrepreneurial are I?”

One common theme of women at midlife is the desire to create greater meaning in their work and their lives.

Amy Grossman,
MBA, MA, is a graduate of The Coaches Training Institute and the Institute for Leadership and Management in Education at Harvard Graduate School of Education. During the 15 years that Amy was a professor of business and entrepreneurship at a women's college in Boston, and also the director of continuing education for adult women, that Amy became inspired to help women hone their entreprenerial abilities. Amy created Boomer Business Launcher in 2007 to meet the needs of women who want to create a business on their own terms at midlife or beyond, after a primary career with a company or non-profit organization or becoming an empty nester and having more time.

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Article by:
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