Business idea | Ask the Elders | The Money Gig

Ask The Elders

Startup Business Idea # 5 – Ask The Elders

A Unique Platform That Brings Two Generations Together. Don’t waste the wrinkle of your elders; use them to gain valuable life lessons.”

It’s commonly said that you shouldn’t ignore the advice that comes from someone older than you. Not only do they have more experience in the game of life, but they also have probably been in the same situation and know what works and what doesn’t. But, are we giving enough importance to our elders who have invaluable life lessons to impart with us?

Business idea | Ask the Elders | The Money Gig

In this article, we will explore another business idea that has not only excellent market potential but also spreads well in society. This idea is about bringing two generations together, where our elders share their experiences.

The Market Potential

Most of us don’t realize that our grandparents of the older people around us are full of wisdom. In a way, they are similar to omniscient beings as they backed by all their experiences collected over their lifetime. Ever since our childhood, our grandparents impart this knowledge in the form of stories. At first, those stories don’t make much sense, but as we grow older, we understand the life lesson hidden in the story. They teach us that life is all about learning lessons from each experience.

In a nutshell, all the elderly people around us ooze wisdom and the more we are around them and heed their advice, the more mature we get and the right choices we make. That being said, there is no shortage of people who are brimming with experience and knowledge. According to the 2011 census, India has about 103.9 million elderly people, which accounts for almost 8.5% of the total population. For all the talk about India’s demographic dividend and its growing youth, we can’t forget the rise in the aged population as well. A 2014 report also stated that while India will be the youngest country in the world in 2020, by 2050, 20% of the Indian population will be considered ‘elderly.’

We can either look at this statistic and consider the aged people as ‘dependents’ who aren’t able to survive themselves or look at this as an opportunity to impart knowledge from the experts.

The Gap

According to the World Happiness Report published in 2019, India bagged the 140th position out of 156 countries. Moreover, the suicide rates are on a high, and every second individual is suffering from depression. It can be safely claimed that the youth of India is lost. Their morals are shaken as they are divided between the morals imparted to them during their childhood and the ways of the modern world.

This has left a lasting effect in the youth, making them undecisive, not just emotionally but in their careers as well. Today, relations rarely make it past a few months and jobs are changed within the first year itself.

On the other hand, sitting at the other end of the spectrum is the elderly of the nation. There are about 750 old age homes across the country. These elderly people are spending the last years of their life far away from the real world wherein their experiences are highly needed. Too old to work, these elderly often rely on their families to support them or live in free old age homes.

In short, there is an entire generation in desperate need of some sound advice when it comes to making life-changing decisions, and there is another generation with tons of free time on their hands and are filled with experiences and are experts in living a fruitful life. Talk about a business idea that brings the right people closer!

The Opportunity

Humans are social beings who love to talk and share! Platforms like Facebook and TikTok are live examples of this. So, what better way to bring the elderly generation of India and the youth closer? People who have a ton of life experience can share their lessons in the form of videos or articles that can be submitted on this platform. The youth who are seeking advice can learn from the experiences uploaded and lead a successful life and career. You can even incorporate the option of ‘going live’ wherein people can ask specific questions, and the ‘life experts’ can give their recommendations. This will not only help you build a successful business, but you can provide employment opportunities to the elderly in exchange for sharing their life experiences!

Most importantly, you will be bridging the gap between the youth and the elderly, giving the youth a sense of direction and the elderly a new spirit to live their lives to the fullest!

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