And I had this aha moment — it was women over 50 saying they wanted to do their own thing. They wanted to live their own life. They were feeling invisible, instead of invincible.
The people and businesses that have thrived in the wake of a major crisis are those who’ve been proactively creative. By that I mean that they’ve purposefully and strategically invented new and different jobs or careers for themselves, or products and services that are particularly well suited to the postcrisis economy.
“Small-business owners and even those with a side gig may benefit from a small-business credit card,” says Gerri Detweiler, education director for Nav, which supplies free credit research and tools for small-business owners. “It can help them keep track of spending and make tax-time easier.” And, Detweiler added, the cards often offer lucrative rewards.
It’s the conversations with the founders. It is the mentoring. It’s the tough love. That’s where I get my joy and my energy.
At 50+, it was “a growing up moment” for her, Venice Strachan-Singh says. Like many job seekers in this age cohort, trying to replicate a previous job is tricky, and the rejection can be shattering. “I thought I was such a star at what I did, and it would be a breeze to find another job, but it was a tremendous blow to my ego,” she says. “My self-esteem went down the tubes.”
“As an entrepreneur, your most valuable resources are your time and attention. It’s best to save your time and attention for activities that are really central to your value proposition,” says Daniel Forbes, an associate professor at the Carlson School of Management University of Minnesota
The internet has empowered adult learners by providing new online tools to ramp up education and training. “The need for workers to keep pace with fast-moving economic, cultural and technological changes, combined with longer careers, will add up to great swaths of adults who need to learn more than generations past — and faster than ever,” said Luke Yoquinto, a research associate at the M.I.T. AgeLab.
“An intergenerational team brings more diversity in thoughts and strengths that can help a small business reach a larger audience more effectively,” says Kimberly A. Eddleston, a Northeastern University entrepreneurship professor and a senior editor on the EIX Editorial Board of the Schulze School of Entrepreneurship at the University of St. Thomas in Minneapolis.
In January 2021, 275,000 women dropped out of the labor force, amounting to roughly 80% of all workers over the age 20 who exited the workforce last month. The total number of women who have exited the labor force since February 2020 comes to more than 2.3 million. By comparison, nearly 1.8 million men have left the labor force during this same time frame.