A vast untapped market is opening up
This is the next contribution to this blog by Associate Andrew Penny, an Ottawa-based business development and market strategist for B2B companies, and president of Kingsford Consulting Ltd. We welcome your comments.
By Andrew Penny
I work with dozens of business owners and executives every year. Many of them have been successfully running their businesses for the last 10 to 20 years – steady as she goes. What many of them don’t realize, however, is that a massive shift is taking place in business, driven by the relentless aging of the incumbent “decision making” class.
In fact there are 71 percent more people aged 45 to 65 than in 1990. In the next few years, these people will be leaving the workforce and the next generation will be in charge. The point is that it is not a gradual migration; it will be a rapid and exciting changeover.
About 11,000 people are retiring from the North American workforce every day – many of them are the decision makers you have been selling to for the last 20 years. As they retire, who is taking their place? I guarantee that this new person will be younger and think very differently.
What makes them different?
