Pajamas?

Who says we don't start our own businesses? (See below.) We can even do it in our pajamas. Take this, Generation Y!

Workin' for The Man

Another study finds Generation Y to be kicking baby boomers' butts when it comes to being entrepreneurs. To quote the American Express sponsored study:

Generation Y entrepreneurs are more likely to have started their business right out of school (27% vs. 9% for Baby Boomers). They are also more likely to look to their parents' experiences as life-shaping influences, with 55% citing their fathers' work experiences as a factor in starting their own business. (vs. 44% Baby Boomers). According to the survey, many Baby Boomers (26%) started their business because they were financially unable to retire.

Okay, I'll accept the cold hard facts, but remember it's all because baby boomers had it made and life was easy during the good ol' days. We had no need for the myriad occupational choices and leeway about which Gen Y now brags. In our day you either worked for IBM or you didn't. Either you worked for The Man or you did not. And, older Polaroid photos were simply black-and-white.

Truckin'

The reports of a study by the Focalyst research group (AARP & the Kantor Group) notes some interesting vacation and travel trends and intentions of baby boomers. First, baby boomers with children still at home under eighteen years old are the most lucrative segment of the 50+ and mature travel market segment. It appears that many of us consciously made decisions to first focus on our careers before settling down and starting a family. Baby boomers have money, want the nicest after working hard to get where they are, and are buying for an entire family.

Second, more than half of those surveyed took road trips instead of destination vacations. Apparently, some of the past lingers on. Road trip!!! Yes, that was a popular trend which many of us seem not to have abandoned just yet. (Don't ask me about an infamous midnight-start road trip to NYC sometime back in 1976 or so. Let it suffice for me to say it could--and should--have been better planned. That aside, after leaving at midnight from college we pulled into downtown Manhattan at 10:00 AM that morning. Oh, and why did we do it? We had just watched Kojak and someone said, "Wouldn't it be cool to go to NYC?")

Third, we are cautious bunch, but not so much because of 9-11. Instead we recognize the sometimes dire and emergency need of modern medical facilities and pharmaceuticals in a foreign country. It appears we now recognize our mortality--and life's whims. (Hey, s__t happens!) Fourth, we don't give a hoot about brand loyalty. We listen to family and friends, and not so much marketing appeals.

In sum, we baby boomers are a much-desired target market with either extra cash after our kids have now graduated college or our because we were well along in our careers and salaries before deciding to have children. And, we will not be caught sitting still in our rocking chairs.

Who We Are

Baby Boomers. Who are we? Where are we? How many are there of us? What are we doing? What makes us so special, especially to marketers?

Those initial quick and easy questions are answered to at least some degree in the baby boomer entry at Wikipedia.