Encore Entrepreneur

SBA Encore Entrepreneurship Course September 2012 Office of Entrepreneurship Education Encore Entrepreneurs Welcome to the SBA’s online training course, Encore Entrepreneurs – an introduction to starting and running your own business venture. This training course is a product of SBA’s Office of Entrepreneurship Education. The course is a self-paced training exercise designed for individualsplanning to start a business after earlier career endeavors. It is a practical program with real life examples and helpful tips. You will find the course easy to follow and the subject matter indexed for quick reference and easy access. It will take about 30 minutes to complete the training program. Additional time will be needed to review included resource materials and to complete the suggested nextsteps at the end of the course. The course includes audio narration so please adjust your speakers accordingly. Accessibility enhancements including keyboard shortcuts, image tags, and transcripts available for all content are available for this course. The highlighted next steps at the conclusion of the program will help you apply what you have learned and engage you in the process of startingyour own business. When you complete the course, you will have the option of receiving a printed certificate of completion from the SBA. Click the forward button below to get started. The course has three key objectives: 1. Discover how to turn your entrepreneurial Idea into a business reality 2. Define and describe components to forming a new business 3. Sharing resources to help your new businesssucceed. There are 10 topic sections within the course. Each section covers a different aspect of entrepreneurship for seniors. The course begins and sets the tone by defining what entrepreneurship for seniors is. It then describes in some detail how to establish a new business. Some of the areas covered include: 1) The Rise in Senior Entrepreneurs 2) How to Develop a business plan 3) How tochoose a business model Numerous additional resources are identified to assist you. You will notice a button toward the top of each slide that allows you to access the course outline. Clicking that button will give you quick access to any section of the course. So, let’s get started. To advance to the next section, click on the continuation button on the bottom of your screen. Rise in EncoreEntrepreneurs There are as many reasons for starting a small business as there are Americans reaching retirement age. Corporate layoffs, the need for supplemental income, and a desire for a more flexible lifestyle can all play a part. Advanced technology is leveling the playing field for small businesses, and many individuals approaching retirement are now able to realize their personal ambition to be theboss and reap the rewards. 15 percent of workers ages 50 to 64 are self-employed—and that rises to 25 percent for workers 65 or older, according to government figures. Owning your own small business can be an exciting change of pace, as well as a terrific way to stay engaged and productive. As a workforce veteran, you bring a great deal to the table: maturity, strong finances, and a wide network ofprofessional contacts and associates. For many older entrepreneurs, starting a small business can be an opportunity to transform a lifetime hobby - such as fishing, investing, writing, or photography - into a lucrative line of work. Sole proprietorships, home-based and online businesses are often a natural fit for older small business owners, mainly because they are less expensive to start andallow for more flexibility. A popular option is buying and selling merchandise through online auctions and e-tailers. No matter what kind of small business you are interested in, there are some basic concepts you need to understand to help you in the planning process. Whether you are interested in starting a side business right away or intend to wait until retirement, now is the time to explore...