Entrepreneurs: Is Your Company Serving Older Adults?

Author: AB Staff

Entrepreneurs: Is Your Company Serving Older Adults?

Career Passion

Entrepreneurship has been all the rage in recent years due to various events. It’s easy to spot aspiring young entrepreneurs in every under-thirty group. Still, many people fail to realize that a significant portion of the new and successful entrepreneurs are older adults.

Considering that most venture capitalists-AKA, the lifeblood of entrepreneurship, are older adults, it becomes crucial to include accessibility for that age group while designing a new business. So is your company serving older adults? Or are you missing out on a huge opportunity?

Any Age Is A Fine Age For A New Venture

You’ve all seen how there are so many young people starting their niche businesses. For most young adults, the field of entrepreneurship may seem like an exclusive arena for the younger folks.

But if you do some research, you’d realize how wrong that line of thinking truly is. The field of entrepreneurship and venture capitalism is in no way only limited to the young wolves, despite what movies have led you to believe.

Studies show that the number of people starting a new business in the 55-64 age group is the highest, outstripping any other age group. Alan Patricof passed that mark long ago and is still looking for more opportunities.

Most younger folks consider that the age of retirement, yet that is the most active age for doing something new. The people from the 45-55 age group also have a considerable influence in the field of new businesses.

How Alan Patricof Did it

Many of you might not know about Alan Patricof, but he is one of the prime examples of what an older adult can do in the business world. Mr. Patricof is a heavyweight venture capitalist who has helped fund many startups.

He is a guy with a vision and a seemingly unending energy reservoir. Even at the prime age of 87, he’s still looking to find new things and try new ideas. And at 87, he decided to finally target an age group he did not explicitly aim for before— Older Adults.

Comparatively speaking, even people three decades younger than Alan fall within that group. Four— if you want to push it, but some people might vehemently deny being old at that point.

The Golden Opportunity

There’s an overabundance of new entrepreneurs joining the scene every day. It can seem troublesome to find a new niche with all the competition. So, here’s an idea about a market that does not gain attention too often— Older people.

Older people, as in people over the age of 60, comprise a significant portion of the population. That is especially true for countries like the USA and other developed nations due to better health care. You can capitalize on this portion of the people and businesses that cater specifically to these folks to see a lot of success.

One of the best ways to appraise a business idea is by discussing it with other like-minded individuals. Agebrilliantly is a great place to do just that. It is also a very accessible platform, only requiring you to complete a simple registration process.