Those of us over-50 are starting up businesses at twice the rate of Millennials. The reasons? More than 80% of us want that kind of no-boss lifestyle and income on our own terms. Here are the details about that.
The good news is that entrepreneurship doesn't have to be complex. Actually, it could be as basic as observing, then getting down to business.
One role model for that is a hungry (literally) kid from a Jewish ghetto at the time of growing bias against that ethnic group and powerful nations' poaching the young to serve in their armies. That youth had been Nathan Handwerker.
From the get-go in Eastern Europe, he was connecting the dots on food industry profits.
An example? He got it how shipping potatoes into a village without them could yield revenues exponentially higher than what he had purchased them for.
It didn't take long in America that Handwerker figured out that the nickel hot dog was the road to wealth. On his own terms.
Unlike Henry Ford, Steve Jobs and Jeff Bezos, Handwerker was a no-tech entrepreneur. That 5-cents hot dog hawked on Coney Island is sometimes designated as the first fast food.
This saga is told in the 2016 book "Famous Nathan" by his grandson Lloyd Handweker. Here you can order it from Amazon.
The key takeaway for future entrepreneurs is that simple observation can be the platform for success. In America, Handwerker left relatively high paying jobs so that he could watch how the retail food industry survived and thrived. He made it his business to stick with employers who knew what they were doing. For that too he took lower earnings.
When I started my first communications boutique at the end of the 1980s, I watched public relations agencies and solo players who were making it big. I made sacrifices to "get inside." What was obvious was this: Success boils down to a handful of mindsets and behaviors. Those change with the times. It was not rocket science to get my second and third communications boutiques up and running quickly.
In his early days in America, Handwerker couldn't speak English. He couldn't read. In writing, he could only manage his signature.
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