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  • The average age of a successful entrepreneur? Nope, think older.
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    Medium. com | Apr 27 Ryan Holmes Entrepreneur, investor, future enthusiast, inventor, hacker. Lover of dogs, owls and outdoor pursuits. Best-known as the founder and CEO of Hootsuite.   When you picture a successful tech entrepreneur, how old are they? Maybe you instinctively default to an image of someone in their twenties — young, digitally native, ready…

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  • Silicon Valley’s ideal entrepreneur is about 20 years too young, research shows
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    Silicon Valley may favor the young, but technology’s romantic idea of the youthful, enterprising entrepreneur may be off by about 20 years, according to a new study. The findings have implications for both older and younger entrepreneurs, as well as for venture capitalists, whose propensity to invest younger may be having adverse affects on their…

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  • Most successful entrepreneurs are older than you think
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      May 7, 2018 8.40pm Benjamin F. Jones, Professor of Entrepreneurship and Strategy, J. L. Kellogg School of Management, Northwestern University J. Daniel Kim,PhD Candidate in Management, Massachusetts Institute of Technology https://theconversation.com/most-successful-entrepreneurs-are-older-than-you-think-95402#   The romanticized image of entrepreneurs is a picture of youth: a 20-something individual with disruptive ideas, boundless energy and a still-sharp mind….

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  • Age discrimination: Over 50s search twice as long for work than 15-24yos
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    ABC Radio Adelaide |By Brett Williamson | Posted 19 May 2017   If you lose your job past the age of 50, you are in the hardest age bracket to find work again thanks to age discrimination. A recent study by the University of South Australia’s Centre for Workplace Excellence confirmed there was a strong…

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  • The unspoken link between income, occupation and suicide
    The unspoken link between income, occupation and suicide
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    InfinityLab is seeking to address a national, and growing catastrophe. Companies simply passing transitioning staff to outplacement agencies is not good enough and corporate Australia must be setting an example for the rest of society. Ageism catches up with all of us eventually, and people working also ensures there are customers.
    Unemployment among older Australians is a national disaster and needs to be urgently addressed. With people living longer healthier lives there is no reason they should not be able to secure fulfilling jobs. While governments are increasing the age at which people can access pensions, an enormous amount for wealth is being lost by not establishing effective programs for ensuring people remain in work. In addition to any income earned, the social engagement and satisfaction in doing a job well are vital to mental health

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  • Australia’s loss – 2.6 million, 16% of workforce, unemployed or underemployed
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    With a population of some 24million people, and some 12.5million people working the underemployed and unemployed figures of some 2.5million represents around 16% of the workforce, This is not only a significant loss for Australia, but devastating for those affected. Innovation can deliver so much for society that single minded focus on patentable IP comes at a significant cost and both government and companies have social responsibility to be bringing new products and services to market.
    If all 2.5 million underemployed and unemployed were earning say $70,000 this would bring an additional $175Bn in taxable income as well as reduce the costs of welfare and health support.
    In addition, all employment growth was attributable to the increase in casual and part time work. This is a short term measure, leaving people unable to secure home loans or significantly progress their lives.

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  • How can not-for-profits build resilience and longevity?
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    The Not for Profit sector industry needs to ask ‘what is the totality of support a person needs’, ‘how will these needs change in the future’ and ‘how can we offer these services better than anyone else’? This notion of competition has been taboo in the not-for-profit space, but the reality is that a competitive spirit drives better service offerings and holds service providers to account with their customers.

    This requires rethinking their funding model and moving towards a sustainable business model with a focus being on long-term sustainability of client services. As such, they need to become employers of choice, recruiting professionals who have strong business acumen and a commercial mindset.

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  • Underutilised talent
    Underutilised talent
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    Professor Groutsis notes that “It is time to create alternatives to this long running problem. We want new migrants to integrate and contribute, yet we do little to acknowledge what they bring in a practical and inclusive way in our labour market.”

    Notably, while they want work, they also want to utilise their prior knowledge but they are constantly told they have no ‘local experience’. There has also been a chorus of doubt about gaining work to match their skills with many of our interviewees noting that they are all too often presented with ‘any employment’ – even if it isn’t in a related field or commensurate position, the inference being that any work is better than no work

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  • And the challenges continue for the franchisee world
    And the challenges continue for the franchisee world
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    The model is flawed’: Endota Spa franchisee left bankrupt By Cara Waters of Sydney Morning Herald http://smh.com.au 11 May 2018 — 12:11pm Fran Forde owned and operated two Endota Spa franchises in the coastal town of Torquay, but her life fell apart when her franchises were terminated. “I am now bankrupt, I had to sell…

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  • The dark side of start-ups
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    This article by Jamie Pride, posted in the Sydney Morning Herald is of significance for InfinityLab as the article recognises the stresses in founding new ventures and, supporting the InfinityLab premise, the need for strong support and networks, a clear roadmap (which often changes, but is still an important guide) and solid, honest, realistic support.

    Pride notes the high failure rate among startup ventures, and the impact this can has on founders, staff and their families.

    With founding a start-up now “the new black”, and with as many as 9 out of 10 founders destined for failure, burnout and checkout is becoming an increasingly significant issue.

    Pride notes that “I have seen a clear pattern emerging: start-up failure has become an accepted industry norm, and it has an impact that reaches far beyond financial loss to investors”. Pride comments that while entrepreneurs need to failure-proof themselves many are not succeeding.

    Please seek support when required. New ventures are challenging and require a unique and diverse skillset. Working with great people makes the journey that much more viable and enjoyable.

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  • Cup of sorrow: the brutal reality of Australia’s franchise king – SMH
    Cup of sorrow: the brutal reality of Australia’s franchise king – SMH
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    Adele Ferguson and Sarah Danckert of the Sydney Morning Herald conducted an investigation into Retail Food Group (ASX:RFG). RFG offers franchises in Michels’Patisserie, Donut King, DCM Coffee, Pizza Capers and other companies. The investigation found that many families had invested their life savings, and were now walking away from their stores as they could not make a profit. A key takeaway from this is to ensure that the interests of all stakeholders are aligned. When a franchisor is taking a significant share of revenue, and leaving franchisees to manage expenses, there is no alignment of interests,

    InfinityLab offers an alternative future. By investing in new ventures and sharing the bottom line profit, InfinityLab ensures that the interests of all parties are aligned

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  • Job-killers: bank workers at the forefront of massive disruption – SMH
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    In the eighties it was automatic teller machines. In the nineties it was mass branch closures. In the naughties, it was offshoring. Now, automation and fintech loom as the great finance sector job-killers. For bank employees, it is a time of “massive upheaval and change. While NAB has announced that it will cut 6000 jobs over the next three years, it will however be hiring 2000 new people with digital skills. “The finance industry is at a crossroads,”

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  • Diversity is a massive problem in Silicon Valley
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    Diversity is one of the most contentious words in the tech industry right now. The good news is some companies see diversity as good business.
    Comcast Ventures set up a fund specifically targeted at minority entrepreneurs. The Catalyst Fund has $US20 million (£15 million) under management to invest.
    It’s been running for five years, mostly focusing on building dealflow, and now wants to rebuild Catalyst’s brand as the go-to place for minority entrepreneurs — mostly in the US, but Europe too.

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  • EveryAGE Counts – The Benevolent Society
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    The Benevolent Society commissioned a study to drive positive change in economic, social, health and civic participation outcomes. The report was released in September 2017, and recommended a variety of social change and campaign activities, including:
    – Grassroots campaigning and empowering older people to build a social movement for change
    – Further research and policy development
    – Engagement with employers, industry and government
    – Social media campaigning and social marketing
    – Addressing cultural representations with arts, film and other media producers
    This research is informing the planning of the EveryAGE Counts campaign which will be launched in 2018.

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  • When age and life experience become a barrier to getting a job – SMH
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    While looking for jobs, Ms Low stumbled on a new recruitment program that was targeting people who had been out of work for two years or more. Her application for the job was successful and she started work four days a week as a consulting manager for Deloitte in July. “It’s been great. It was a lot about restoring your confidence,”

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  • Ageism to be tackled in bid to change negative perceptions – SMH
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    The Benevolent Society announced its campaign EveryAGE Counts on Thursday, as it launched a report that revealed concerning findings about growing older.
    Almost 30% of older people said they had been turned down for a job due to their age.
    There were some positive perceptions:
    73% of people say older people had a lot to offer younger people,
    65% report older people have a strong work ethic
    65% believe older people are responsible.
    Almost 80% of respondents agreed that ageism was an important issue.

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