Five Reasons To Go Gray To Grow Your Business
Five Reasons To Go Gray To Grow Your Business. Baby boomers (born 1946 to 1964) are retiring at a rate of 10,000 per day. And millennials (born 1981 to 1996) are shaking up conventional ways of doing business.
They are poised to lead next-level entrepreneurship into the future. When we look to the dreams and technology that the new generation of small business owners brings to the marketplace, will it be enough to succeed?
By incorporating an underutilized outsource, today’s startup founders may find a goldmine in gray. By outsourcing, I mean working with independent contractors or executive placement services.
Both Gen Xers (born 1965 to 1980) and millennials helped usher in the era of digital transformation — simplifying aspects of product development, internet-based sales funnels while establishing must-have lifestyle corporate cultures.
For visionary entrepreneurs, day-to-day business management can be time-consuming and downright tedious, especially for small businesses still in the start-up or growth phase. CEOs may find themselves bogged down, overseeing daily operations and using their time inefficiently, dealing with finances, marketing, personnel and business research. This is where tapping into the option of leveraging senior talent (55 to 73 years old) becomes a viable answer.
When you don’t have the cash flow to hire full-time experience, consider farming LinkedIn or seeking out referrals for retirees who can provide the talent you need on a part-time basis. You’ll be looking at establishing a fair hourly rate or per-project basis for virtual or onsite work versus salary, benefits and more for a person not nearly as experienced.
Here are five reasons to consider hiring veteran talent while you concentrate on scaling your business model:
1. C-level executive positions.
Fractional executives are professionals who have served in the role of CEO, CFO, COO, CMO, CSO, CTO or CIO. Typically, they offer their services on a for-hire basis as an independent consultant or through a specialized placement firm. This allows small entrepreneurial companies to access top-tier executive talent at a fraction of the cost.
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