Intergenerational Entrepreneurship Solves Succession Crisis in Boomer Businesses
VCs bet on the wrong generation of founders! Harvard Business Review Article
Boomers to Sell $10 Trillion of Assets Over the Next Two Decades (Source: California Association of Business Brokers)
In an article for Forbes, "Baby Boomers Are Selling Their Businesses to Millennial Entrepreneurs, and It's a Brilliant Idea," Jason Duff, CEO of COMSTOR Outdoor, states:
"Experts estimate that millions of baby boomer entrepreneurs will close or sell their business in the next decade.
A 2016 survey of small businesses in the United States indicated that 72% of small business owners don’t have an exit plan and 54% intend to leave in 10 years. We have a succession crisis."
Why Angels need to fund more Women founders in 2019
“Why Do VC Investors Tend to Bet on Young Founders?
In light of this evidence, why do some VCs persist in betting on young founders? We cannot definitively answer this question with the data at our disposal, but we believe that two mechanisms could be at play. First, many VCs may operate under a mistaken belief that youth is the elixir of successful entrepreneurship — in other words, VCs are simply wrong. Though it is tempting to see age bias as the leading explanation for the divergence between our findings and investor behavior, there is a more benign possibility: VCs are not simply looking to identify the firms with the highest growth potential. “
"Startup Firms on the Rise But Still BELOW Pre-Recession Levels"
Great article by Geri Stengel, Contributor ForbesWomen: “Data also show that women entrepreneurs outperform their male counterparts, yet their performance hasn’t attracted the funding they need. So women are using their money and wits in five ways to ensure that women entrepreneurs get funded. “
TB12 Practices Intergenerational Collaboration
From the US Census Bureau: “The number of business startups has risen in recent years, but remains well below pre-Great Recession levels.
The recession undoubtedly contributed to the sharp decline in startup activity from 2006 to 2009, but BDS statistics from the past few decades show a downward trend in the share of jobs created by startups even before the recession. For more information, see Haltiwanger, Jarmin, Miranda (2011).”
ADMIN 4GENNOWJANUARY 30, 2019
Pew Research: “Generation Z Looks a Lot Like Millennials on Key Social and Political Issues”
By Bill Murphy Jr. Contributing editor, Inc.com. “Brady has chosen the perfect way to relate to younger co-workers, just by treating them at the start … as equals.”
2019 The Year of the Intergenerational Startup
No longer the new kids on the block, Millennials have moved firmly into their 20s and 30s, and a new generation is coming into focus. Generation Z – diverse and on track to be the most well-educated generation yet – is moving toward adulthood with a liberal set of attitudes and an openness to emerging social trends.
What's Your Missing Link?
We need a new model to create and fund startups because the existing model creates too few startups and too many failures, especially with a venture finance industry that primarily targets and funds co-founders from just one generation.
Every startup has one.
If you are a solopreneur (solo founder) lacking complementary skills or experience, connections or capital, your missing link might be (not having) a co-founder. If you're thinking about launching a startup in 2019, finding the right co-founder can reduce the anxiety.