okay
Challenge and Change
By Corinthia Bu
Apply your Knowledge
Q18. Suppose that you are an Entrepreneur. Outline plans for a new business or investment you could start in your community to cater to the aging baby boomers. It could either be set in the present time or 10 to 20 years from now.
The baby boomer market is an extremely desirable market because of its sheer size. While niche marketing is almost a rule for small business success, it makes sense, too, to try and target a niche as large and moneyed as possible - and the huge baby boomer market is full of niche opportunities that can be extremely profitable.
Contrary to popular belief, there are many baby boomers that are not retired. Even better, many baby boomers are at the peak of their earning years and have comparatively large discretionary incomes to spend.
So if i were an entrepreneur, as a solo operator, I would expect to spend at least one-fourth of my time on general business management and administration, marketing, purchasing and billing.
The bigger your business and the more workers you have, the more time you'll spend managing them instead of doing the work yourself. By contrast, the smaller your operation, the more likely you'll be doing much of the actual work as well as running the company.
Trying to open a Relocation business will typically spend a substantial amount of time working closely with clients and coordinating services. No matter how small or large your company is, it's critical that you do not neglect the administrative side.
Although you must pay attention to the business side of your company, you can still design an operation that lets you spend most of your time on tasks you enjoy.
To operate in a market like this, there must be very intense people contact. While many of the clients will be able-bodied, others will suffer from infirmities and varying degrees of dementia. In addition to strong management and entrepreneurial skills, planning to work directly with
By Corinthia Bu
Apply your Knowledge
Q18. Suppose that you are an Entrepreneur. Outline plans for a new business or investment you could start in your community to cater to the aging baby boomers. It could either be set in the present time or 10 to 20 years from now.
The baby boomer market is an extremely desirable market because of its sheer size. While niche marketing is almost a rule for small business success, it makes sense, too, to try and target a niche as large and moneyed as possible - and the huge baby boomer market is full of niche opportunities that can be extremely profitable.
Contrary to popular belief, there are many baby boomers that are not retired. Even better, many baby boomers are at the peak of their earning years and have comparatively large discretionary incomes to spend.
So if i were an entrepreneur, as a solo operator, I would expect to spend at least one-fourth of my time on general business management and administration, marketing, purchasing and billing.
The bigger your business and the more workers you have, the more time you'll spend managing them instead of doing the work yourself. By contrast, the smaller your operation, the more likely you'll be doing much of the actual work as well as running the company.
Trying to open a Relocation business will typically spend a substantial amount of time working closely with clients and coordinating services. No matter how small or large your company is, it's critical that you do not neglect the administrative side.
Although you must pay attention to the business side of your company, you can still design an operation that lets you spend most of your time on tasks you enjoy.
To operate in a market like this, there must be very intense people contact. While many of the clients will be able-bodied, others will suffer from infirmities and varying degrees of dementia. In addition to strong management and entrepreneurial skills, planning to work directly with