I was fortunate to share a panel presentation at Stanford's Longevity Center recently with Maria Thomas from Alive Ventures. Alive Ventures has just published a couple of great reports I'll link here soon. This quote and link are from one of those papers, Growing Older Better. Thanks Maria for bringing this to my attention. Below is a quote from Greg Isenberg, CEO of Late Checkout. I like the sentiment but would be sure to add that older, ageless entreprenurs themselves have unique perspectives and valuable contributions to make regarding products and services for older adults. “If there's any entrepreneurs listening, and you're considering the foray into building for older adults – do it. You might not look like a hero in 2022, maybe not 2023, but the tides are changing and by the end of 2023 - 2024, once we start seeing these like bigger valuation, older adult startups, and you're seeing a lot of success. My prediction is that there is going to be a
Harvard Business Review just posted a good piece on flipping the narrative regarding ageism. While this speaks to teams within corporations, the same approach can be taken for teams coming together as entrepreneurs. There needs to be a seat at the table and voices in the air that represent older workers. The products and services that emerge - from corporations or startups - will be better for it. I liked the subheading: Generational identity should be a source of learning, not division. "Think of a multigenerational team of product developers, merging the seasoned experience and broad client network of its older members with the fresh perspectives and up-to-date supplier network of its younger ones. Such a group can use its age diversity to build something no generation could on its own." Full article: Harvesting the Power of Age Diversity Harvard Business Review Megan W. Gerhardt, Josephine Nachemson-Ekwall, and Brandon Fo
Continuing with phased retirements.... The Wall Street Journal posted another good article about phased retirements. The sub heading is: "Workers have longed for a way to ease into retirement while keeping some pay and benefits. More companies are giving it a try." There is a surge in interest in keeping valuable employees connected to the organizations they work for. Instead of just cutting back their hours, why not unleash their creative ideas and industry knowledge and help them start small enterprises that can help all iinvolved? "In a forthcoming survey of 1,736 HR executives world-wide from consultant Mercer LLC, about 38% say they offer phased retirement, more than double the 17.2% that did so before the pandemic." "Phased retirement is 'a way to slow the brain drain and manage talent shortages' at a time when the U.S. workforce is agi
The CAE is a non-profit org built to empower entrepreneurs in the second half of life. Entrepreneurship options for phased retirements can be a great option for companies to support their late career team members. It serves the employer by enabling team members to launch smaller enterprises into markets the employer may not be reaching. Phased retirement can unleash valuable new ageless entrepreneurs, with significant industry experience, back into markets and communities they know and love. The alternative to the 'Great Resignation' — phasing retirement The Hill. 3/12/22 “Enter phased retirement." "Enabling regular employees with benefits to reduce their schedules from full to reduced time over an agreed-upon trajectory can meet the employee desire for so-called semi-retirement and the employer need for retention of mature labor and the transfer of critical knowledge to development-seeking younger employees. Phased retirement programs
Good article by Chris Farrell and MarketWatch. March 8, 2022. ‘What do we do with all that talent?’ Older workers and the new economy - MarketWatch "Starting a business is a creative enterprise. In 2020 nearly one-quarter of new entrepreneurs were ages 55 to 64, according to the KauffmanFoundation. The share of workers who are self-employed also rises with age. For example, the share self-employed is under 20% for adults below age 50, while it’s 46% for workers ages 65 to 69, calculate economists Katharine Abraham, Brad Hershbein, and Susan Houseman in the working paper Contract Work at Older Ages." "Did you catch the half-time show at the Super Bowl highlighting hip-hop artists Dr. Dre, Mary J Blige, and Snoop Dogg? The performance garnered high praise among critics and the audience (including me). Less remarked on is that Dr. Dre, Mary J Blige, and Snoop Dogg are in the second half of life—ages 57, 51, and 50, respectively."
This is a good interview with Abby Levy, of Primetime Partners about the great need for new products and services to support citizens aging in place. I'll start with an earlier quote from Ms. Levy, that I posted here earlier . When asked last year about how their fund would advise new companies entering longevity focused markets, Ms. Levy responded" "I think I can guess what Alan would say, so I’m going to jump in here… I think what we would say – and this isn’t just because it’s consistent with our brand and our positioning – Go find an experienced professional who has been in the industry – for 20 – 30 years – of the industry you’re starting your startup in. Go find a cofounder who has that experience, that network, the understanding – and frankly the relevancy to the end user that looks like them. And go co-design a business with someone who is of the target group you’re looking to serve. I think that would be one piece of advice we feel would be VERY passi
Sorting files ... This is from the 4th of July, 2013 - The Dodgeville Chronicle's front page review of my economic development work in Iowa County, Wisconsin. I was blogging about this in real time back then. Those blogs morphed into the book. Now we're launching the CAE. The formula is simple. Set up the infrastructure to develop new collaborations among small enterprises. "Economic development is a relationship business." ICAEDC celebrates four and a half years of promoting Iowa County 7/4/2013 The Iowa County Area Economic Development Corporation proved last week that it has a lot to be proud of as it released a report on the organization's successes over the past four and a half years. The ICAEDC, a non-profit organization founded in 2008, is dedicated to creating a positive business and economic climate in Iowa County. The organization's executive director, Rick Terrien, has played an influencial role at the ICAEDC and many o