* The Boomer Consumer by Matt Thornhill & John Martin

For businesses, targeting the traditional 18-39 market (which had its start, by the way, with Boomers back in the '70's...) means  working harder for each sale, going after folks with the least income to spend on things other than necessities (and even there doesn't "spend up" but looks to cut corners).
Young single people are just starting their careers and have not yet reached their peak earning years; and young couples are just starting a family, spending every dollar on only the basics as they build their life together.

For Boomers, this means product and service providers are not gearing their goods/services to our needs.  Here's two examples:

• the way products are packaged -  As more of us develop arthritis, the way many products are sealed becomes increasingly more difficult for us to manage; opening that hermetically sealed electric toothbrush or those caps on bottles that are so tight it takes a tool box to pry them lose, were no-brainers when we were younger - now they are still designed for youth...not us
• the way hotels are designed - covered in a 5/28/11 article in the Chicago Sun-Times, finding a more upscale place to enjoy a weekend away is getting more difficult for Boomers as we encounter common area lighting better suited for a nightclub, and seating that is so low we struggle to get back up...
  

Boomers  vs.  "Millennials"

No, this isn't a headline from a bad Wrestling Mania episode.
This is a growing problem between:
 
♦ Boomer Bosses & young employees...and
♦ Young workers & Boomer clients... in the halls of commerce large & small.

Baby Boomers certainly know what it feels like to be on the young side of a huge generation gap. 
Now we're on the gap's other end...and not always handling it well. 
But then again, neither are the "youngsters" coming into the workforce.

The young staff in the nation's companies, known as 'Millennials' because they began to enter the workforce at the beginning of the new millennium, have some distinct differences from their Boomer counterparts/clients, like:

• they have been dubbed the "Everybody Gets a Trophy" generation because they were raised with & became accustomed to regular praise & rewards for their efforts at school and play (which is now evident at work)
• they consider technology their "sixth sense" in that is it as integral to their existence as the other 5, which lends to a need for quick answers, what seems like an ADD need for constant change and information, and abbreviated communications
• they don't see their career (& therefore your customer) as the driving identifying force in their life, which can undermine your sales/customer service priorities

Boomers on the other side of the proverbial aisle, have had very different life & career-forming experiences:

• their careers (& the associated "the customer is always right" ethic) have been the focus of their identity (both men & women);
• as bosses this is considered an imperative for career advancement (including the level of sacrifice they made to attain it) - as customers, the above service ethic is a must;
• they understand the importance of technology but believe it has its place behind more traditional forms of communication/operation - this is important to both Boomer bosses & customers they were raised by a generation who believed excess praise or reward for expected behavior was unnecessary or even wrong, so don't believe in it for themselves/others

Each generation, whether in leadership positions or not, have their own set of work ethics and expectations that imbue their interactions internally (with other team members and management), and externally (with customers/clients and other organizations important to your business).

Research shows clearly that, because this is the first time in history so many generations are working side-by-side in the workplace (The Greatest Generation/Traditionals; Boomers, GenX, GenY, and now Millennials), many of the personnel problems experienced today are generationally based. 

• Traditionals have a powerful work ethic and value investing in the future
• Boomer also have a strong work ethic but tend to put greater value on competition, maintaining control, and the "here and now"
• Gen X'ers are more focused on outcomes than processes, and have a generational tendency toward distrust (particularly of Boomers)
• Gen Y are more loyal to their career goals than to the company, so must see the benefit to them personally
• Millennials are described in greater detail above.
  

From ineffective teams to unhappy customers, the root of the unhealthy interactions that are costing your company dearly, can be found, and fixed, with an understanding of what each generation needs to get the most value from them, and then how the generations can better function cohesively, rather than divisively.

Only someone with expertise in generational characteristics along with proven team-and leadership-building capacities, can uncover and remedy this growing problem.  Choose a seasoned consultant who can teach you how to recognize, and capitalize on each generation's strengths, provide programs designed to develop cross-generational cohesion that translates into improved team work, and leave you with a much healthier, and happier, culture that will save you money while increasing your revenues.

Changing Careers or Laid Off...so you're seriously contemplating starting your dream business.
Lay-offs and the desire to do something new have no age boundaries, and certainly if you're now in the position to own that business you've always dreamed of, your age and experience are huge assets!
But the biggest - and most costly - mistake Boomer new business owners make is putting all their capital into the hard items, such as advertising & materials, and none into their own transition to business ownership, unwittingly undermining their own efforts.
This is the fastest way to turn personal/professional strengths into liabilities.

When it comes to owning your own business after decades of working for someone else, you no doubt have all the industry related skills you need, but must learn how to be a true entrepreneur, not someone with a JOB that happens to be his/her own boss.... The former is the key to business success; the latter is why so many new businesses fail.

Here are just a few of the skills that must be permanently heightened for any Boomer's new business to get to great! (read "business at its most productive"):

Prepare yourself to successfully handle the major transition from employee to owner

Yes - you love what you do and you do it well - this is why you started your own business in the first place, right? 
But now as a business owner, you're the "chief cook and bottle washer" besides being the expert in your particular field.   You need to wear all the hats, and wear them well, from HR, to Marketing and Administrative.  And most importantly, you must start thinking like an owner, not an employee.   Many new businesses fail because the owner took too long to acclimate to this whole new world, and by the time s/he did, the capital ran out.  Don't let this happen to you. 

Learn the techniques/embrace the proven tools for using your time effectively

Now, more than ever, it's imperative that you waste not a moment, whether it's needing to repeat things that you didn't get right the first time or putting your energies into items and people that are out of alignment with your business development goals.  Effectively managing your time and efforts as a business owner has differences from doing so as an employee.  We'll show you those differences and give you techniques to use immediately.

Research/Learn from the pros, the pitfalls, and best practices, of business ownership

To get this started for you, listen to Entrepreneur Coach and Consultant to numerous Fortune 500 companies, Rick Anthony, Founder & CEO of The SolutionsNetwork, Inc., in 2 of his expert features on Terri's show:

When it comes to working for someone else, Boomers have distinct qualifications, but must also fight some inaccurate if not at times downright insulting stereotypes (we cost more to hire... we will call off sick too much... we won't do a good job because we're just waiting to retire...). 

Not only has research shown these to be untrue, but all the major business authorities are saying that hiring a Boomer is just what a company wants to do!

According to findings by Penn State professor, Diane Spokus, a faculty member in health policy and administration,  exposed a few myths surrounding older workers left over from the last century, based on a very different economic environment, and a generation now long retired with a huge labor force following in their footsteps (Boomers).

Here's just a few from our review of the research:

Myth #1:

It costs more to retain older workers than it does to recruit younger workers.

Fact:

Many older workers may receive higher salaries, but when replacement costs are factored in for the higher turnover of younger workers during their early years of employment, the cost is actually equal to or can be less than those associated with hiring young.

Myth #2:

The costs for health and other benefits are higher for older workers.

Fact:

Today’s older workers have fewer acute illnesses, while younger workers have more dependents. So in reality, overall benefits may work out to be the same for older and younger workers.  Additionally, a study by employee assistance program provider ComPsych found that older workers (in their 50s or 60s) are more likely to have healthy diets, exercise regularly, and have lower stress levels, than workers in their 30s.

Myth #3:

Boomers can't learn or embrace new technology

Fact:

Boomers were the first to embrace new technology...eg computers when they were first introduced to the workforce waaaaay back in the 1980's (remember DOS and what looked like the "bouncing ball"?...), and we continue to do so.  The only Boomers who traditionally don't embrace the latest technologies and their uses are those no longer in the workforce...because they don't need them for their quality of life; and even some of those folks are using the latest trends like social media, internet shopping/dating, and IPods simply because they enjoy them.

In essence, the companies are better off when they retain Boomers rather than erroneously pushing them off the payroll.

_RetirementJobs.com has created a Certified Age Friendly Employer program for employers  proven to be friendly to mature workers.  They receive a certification that indicates the company scores highly in factors like older-friendly hiring practices, compensation and benefits programs, training opportunities, and work-day flexibility (hours and days an employee can work to accommodate a work-life balance).  The list includes Citizens Financial Group; the Transportation Security Administration; The Fresh Market; H&R Block; and Robert Half International.  Go to the retirementjobs.com website for the complete list.

"Unemployment has hit baby-boomers especially hard. For those over 55, the jobless rate has doubled since the recession began, to 6.8 percent. In real terms, that's more than 2 million people..." (cbs evening news 6/13/11).
Although this comes as no surprise to our fellow Boomers, it seems to continually amaze the kids in the generations beneath us, who think our continued presence in the workforce is stealing jobs from them (we're not... our talents, knowledge, and skill-sets are highly developed, so we're in jobs for which youngsters would not yet qualify).

Whether you need extra income in retirement, or you're between full-time jobs and want to keep your skills fresh and your bills paid, think P/T employment...

This free internet job site provides quality employment opportunities and resources targeted to Baby Boomers, with a variety of jobs for older workers. Wiser Worker also features an excellent resource center for both employers and job seekers.

JobsOver50 is "a free web-based employment service for Baby Boomers & Retirees."  They understand the employment needs of 50+ job seekers and built a uniquely powerful job-service portal to support us.

This site was mentioned above for its development of a list of certified, age-friendly employers, which, as a member, you can access.  The service is  free for job seekers, and great for those seeking part-time employment (thus the name...).  They provide the option of upgrading to a premium service (starts at $4.95/mo - quite reasonable) that gives access to seminars and special content, and enables job seekers to easily identify job openings from employers certified or pre-certified as age friendly.