From Walmart Manager to Play Space Owner: How Job Loss is fueling Gen X Entrepreneurship
Union City, CA – After a relentless year and a half of applying for roughly ten jobs a day with little to no success, 50-year-old DJ Perdue didn’t wait for an offer. He created one. Perdue, formerly a Walmart manager, launched TeenyTown, an indoor play space in Union City, California, fueled by his severance package and a long-held dream.
“I had to do something,” Perdue told Business Insider. “and it was something that I had always wanted to do.”
Perdue’s story isn’t unique. A growing number of Gen Xers are turning to self-employment after facing difficulties in a challenging job market, a trend driven by factors ranging from ageism to stagnant wages and a desire for greater control. While TeenyTown is currently covering rent and utilities, Perdue admits its not yet enough to fully support his family, relying on his fiancée’s income for the time being. He’s acutely aware of the precariousness of his situation, stating he has just two months before financial pressures could force him to close shop. He’s even had to sell his home and downsize to a rental property.
Business Insider spoke with several Gen X individuals who found themselves navigating similar circumstances. For some, ventures like Perdue’s are a temporary bridge while continuing the job search. For others, entrepreneurship offers a lifeline in a landscape where finding suitable employment feels increasingly challenging.
the numbers back up this trend. A Business Insider analysis of Census Bureau data reveals that 12% of employed individuals aged 44 to 59 were self-employed in 2024.
The hurdles are real. Seasoned workers often face the double-edged sword of appearing overqualified or encountering age-related bias. Rick J. Sanchez, 49, discovered this firsthand after a accomplished career spanning sales, insurance, and startups. “You can’t put founder or president or board chair of anything on your résumé and get a call back,” he explained. Ultimately, Sanchez launched his own PR and crisis communications firm, Mentratik, after an extended and frustrating job hunt.
Despite the risks, the lure of independence and the need to provide for themselves and their families are driving Gen Xers to take the entrepreneurial leap.While business closures remain a concern – 3% of all businesses shut down in the first quarter of 2024 – the stories of individuals like Perdue and Sanchez highlight the resilience and resourcefulness of a generation adapting to a changing economic climate.
How does Gen X’s prior financial stability influence their willingness to pursue self-employment compared to younger generations?
navigating Career Transitions: How Gen Xers are Embracing self-Employment on Their Job Hunt
The Gen X Shift: From Corporate Ladder to Entrepreneurial path
Generation X, often sandwiched between Baby Boomers and Millennials, is experiencing a important career shift. Traditionally known for their adaptability, this demographic is increasingly turning to self-employment and freelancing as viable alternatives to conventional job searches. This isn’t simply a reaction to ageism in the workplace, tho that’s a factor. It’s a proactive embrace of career independence, flexible work arrangements, and the desire to leverage decades of experience on their own terms. The current economic climate, coupled with evolving work preferences, is fueling this trend. We’re seeing a surge in mid-career career changes and a rise in solo entrepreneurs within this generation.
Why Gen X is Leading the Charge in Self-Employment
Several factors contribute to Gen X’s growing preference for self-employment:
* Experience & Expertise: Gen Xers possess a wealth of practical experience, frequently enough spanning multiple industries. This makes them highly valuable as self-reliant contractors and consultants.
* Financial Stability: Many Gen Xers have reached a point in their careers where they have sufficient savings to cushion the initial financial uncertainties of starting a business.This allows for a more calculated risk.
* Desire for Control: After years of navigating corporate structures, many Gen Xers crave greater control over their work-life balance, projects, and income potential. Remote work opportunities further enhance this control.
* Technological Proficiency: While not digital natives, Gen X has readily adapted to technology, making them comfortable utilizing online platforms for marketing, dialogue, and business management.
* Dissatisfaction with Traditional Employment: Reports indicate increasing dissatisfaction with corporate culture, lack of growth opportunities, and limited work-life integration within traditional employment models.
Popular Self-Employment Avenues for Gen X
The types of self-employment Gen Xers are pursuing are diverse, reflecting their broad skillset. Here are some prominent examples:
* Consulting: Leveraging industry expertise to provide specialized advice to businesses. (e.g., marketing consultant, financial consultant, IT consultant)
* Freelance Writing & Editing: Utilizing strong communication skills to create content for various clients. Utilizing tools like MerciApp can be beneficial for refining written work.
* Virtual assistance: Providing administrative, technical, or creative assistance to clients remotely.
* Coaching & Mentoring: Sharing experience and knowledge to help others achieve their professional goals. (Career coaching, life coaching, business coaching)
* E-commerce: Selling products online through platforms like Shopify, Etsy, or Amazon.
* Creative Services: Offering skills in graphic design,web advancement,photography,or video editing.
* Specialized Trades: applying skills in areas like carpentry,plumbing,or electrical work as independent contractors.
Overcoming the Challenges of Transitioning to Self-Employment
While the benefits are compelling, transitioning to self-employment isn’t without its hurdles.
* Income Instability: One of the biggest concerns is fluctuating income. Building a financial safety net and diversifying income streams are crucial.
* Healthcare & Benefits: Securing health insurance and retirement plans independently requires careful planning and budgeting.
* Marketing & Client Acquisition: Attracting clients requires proactive marketing efforts,including networking,online presence building,and possibly paid advertising.
* self-Discipline & Time Management: Working independently demands strong self-discipline and effective time management skills.
* Isolation: Working remotely can lead to feelings of isolation. Actively seeking networking opportunities and building a support system is crucial.
Practical Tips for Gen Xers Considering Self-Employment
- Assess Your Skills & Interests: Identify your core competencies and passions. What are you genuinely good at and enjoy doing?
- Develop a Business Plan: Outline your services, target market, pricing strategy, and financial projections.
- Build Your Online Presence: Create a professional website and utilize social media platforms to showcase your expertise. LinkedIn is notably valuable for professional networking.
- Network Strategically: Attend industry events, join online communities, and connect with potential clients and collaborators.
- Invest in Professional Development: Continuously update your skills and knowledge to remain competitive.
- Seek Mentorship: Connect with experienced entrepreneurs who can provide guidance and support.
- Manage Your Finances Carefully: Track your income and expenses, budget effectively, and save for taxes.
- Prioritize Self-Care: Maintain a healthy work-life balance to avoid burnout.
Real-World Example: From Marketing Manager to Freelance Brand strategist
Sarah Miller, a 48-year-old former marketing manager, felt stifled by corporate bureaucracy. After 20 years in the industry, she launched her own brand strategy consulting business. She leveraged her extensive network and built a strong online presence through LinkedIn and a
