HEY — are you one of the millions who have been “downsized” more then once at this point? Are you over 50 and curled up in a fetal position under your desk because you just found another gray hair? Have you thought about dropping out of the corporate insanity to create a little chaos of your own?
In meeting with clients, looking at media and watching the trends, these three situations seem to be the most worried and talked about perceived career killers of current times.
Let’s do a reality check……
I am not a believer in age discrimination. Does it happen? Of course it does – but often it’s more of a “self-fulfilling prophecy.” People buy into the hype and it erodes their their self-esteem and confidence so they don’t present themselves from a position of strength; OR some have been in the same job for 30 years and get stuck in a rut and become resistant to change – that’s personality, not age; OR after being in the job market for so long and building an income based on perks and bonuses, there are others who have unrealistic expectations of what today’s market can bear as far as competitive salaries – pay is much the same as any other commodity – it’s more frequently based on the balance of supply and demand. Beyond that, whoever brings the most business savvy to the table, wins.
In addition, we live and work in a time of immediate gratification. If there is a choice between age and competence, most companies will still go with the person who brings the most current value because they want an ROI on their investment as fast as possible. If you’re 60+ but you have energy, confidence, contacts, up-to date knowledge and you know how to communicate your value as a solution provider to your target market (you know what keeps them up a night and you can fix it in a profitable way)- once again, you win.
By the way, did I mention that the average job stint in today’s workplace is between 2-5 years? So if you plan on working longer then that, plan that you will be changing jobs again (your choice or not) within that time frame.
As for the employment/self-employment question – the trend for 50+ professionals is that more and more folks are going the entrepreneurial route. So many people have gone through the job loss routine multiple times that self-employment seems less scary. Plus people are taking stock of their market value and through the process of evaluation and research are recognizing how to best use their unique expertise.
If you decide to start (or evaluate) a business the first step is to create a complete business plan. Some people choose to work the start-up full time and others grow their companies while working full or part-time for someone else. There’s no right or wrong on this one – ya just have to do it “right” in either scenario.
I believe the fastest way to build a business is through collaborations – and I’m not talking about business partners. I mean referral partners. Finding complimentary services that are established and creating a cross promotion or referral program is one example.
Come out from under the table and get busy. Take some time to evaluate employment vs self employment. If you haven’t read the book, The E Myth, I highly recommend it. Evaluate your financial needs, consider your tolerance to risk, research the market/industry to see where you offer the most value and use this data to make an intelligent vs emotional decision.
Then as Nike likes to say, Just Do It!
