Ashley Powder, AARP
Research shows that entrepreneurs over the age of 50 are among the most successful and profitable small business leaders. Experience is important, but it’s not a magic wand that can solve all the problems that threaten your company’s survival.
Starting and growing a business is no easy task. Many new ventures are expensive to start and require years of constant work before that effort pays off. No wonder nearly 20% of companies fail in his first year. Starting and managing a business, especially in today’s economic climate, requires an agile and proactive approach that prioritizes developing the skills that will help your business succeed.
Research shows older adults want to learn new skills
Longevity trends indicate that the first humans to live to 150 have already been born. This means that all older workers, not just aspiring entrepreneurs, need to become lifelong learners. Instead of the traditional approach of obtaining a four-year college degree and then climbing the career ladder, most workers will have to reskill throughout their careers through on-the-job training, online education, or other options. .
The good news is that older workers are eager to learn. In 2021, he said an AARP survey of seniors found that 94% of respondents said they would be willing to learn new skills if requested by their current or future employers. In fact, over 26% already have computer or technology training, and 22% of respondents have obtained a license or certification in the last two years.
Embracing the lifelong learner mentality is an essential trait for being a successful small business owner. Entrepreneurs need to adapt to succeed, and that flexibility requires understanding that the strategic plan is a living, responsive roadmap. Both technical and soft skills should be developed. start up Not just for business stay in business.
Add a new skill with Skills Builder
Starting a business can be exhilarating and overwhelming. Without proper guidance and research, it is difficult to know the priorities of business activities. Should operations precede or follow sales and marketing? Is it the right time to file a trademark before or after incorporating a business?
Fortunately, there are resources to help aspiring entrepreneurs learn how to manage these decisions. AARP launched the Skills Builder for Work platform to help experienced learners close the skills gap. The platform offers both free and paid courses and certification programs. Consider these entrepreneurship courses to get started.
Basics of small business. Get started with this free intensive course in running a small business. This course “provides a basic understanding of the most important areas of small business management and helps you assess whether a career in a small business is right for you. Please leave the company after fully understanding these basic skills.”
Fundamentals of online business. This free course is a great resource for aspiring entrepreneurs exploring the action items and strategies needed to succeed in an online marketplace, whether launching a product-based or services business. This class will cover the importance of solving problems, finding your target audience online, and connecting with their needs.
Finance for Entrepreneurs 101. Budgeting and cash flow management are two of the most difficult aspects of entrepreneurship, especially for creative and social entrepreneurs. However, financially sound companies are best positioned to scale. The Entrepreneurs course Finance 101 covers “Fundamental concepts of finance, including startup financing.” price; cash flow; and financial ratios. Earn credits from certification bodies such as SHRM and HRCI.
An introduction to entrepreneurship. Learn what decisions you need to make before starting a venture and the success factors for staying in business for the long term. The course also covers the strategic planning process and the financial and operational requirements to get started.
Changing workforce demographics indicate that investments in reskilling and upskilling are significant costs for aspiring entrepreneurs and established business owners, regardless of company size or tenure. Business Her leaders must make lifelong learning a priority in order to keep an eye on the changing needs of their customers and deliver relevant and impactful products and services.
Expand your knowledge in entrepreneurship and small business management with free and paid certificate programs available through the Skills Builder platform. Visit our 50+ Small Business Resource Center for dedicated resources on starting, managing, and growing your brand.
Ashley Powdar is the Employer Content Lead for AARP’s Financial Resilience team. She works with participants in the organization’s Employer Pledge program to promote the value of a multi-generational workforce and report on issues affecting small business owners.
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