One Option for a Retirement Business

March 21, 2012 by Leave a Comment
Retirement

Retirement (Photo credit: 401K)

You know, as I write this post, I am a little nervous. Every time you suggest something might be a good thing, you are open for criticism. So, let me start with a statement of intent:

I would love to see every Boomer who is or is about to “retire” find a passion that would make a great retirement business AND allow them to have a part in changing the world for good.

But, some Boomers are just tired. Tired of work, tired of long hours, and tired of just getting by. They have worked hard in their job/career and the prospect of starting something brand new from scratch, while appealing in theory, will likely never happen.

If there was something that already existed, something that they could do from anywhere, and something that would handle most of the monotony that owning a business requires, then there might be some interest. A sort of “home-based, franchise-styled” business. That might well be an interesting option to many Boomers.

Well, those kinds of businesses do exist. Most of them are found in the Network Marketing arena and many of these businesses can provide a reasonable income for the retired Boomer. (In the interest of full disclosure, I have worked in this arena on and off for more than 20 years and am active with my preferred company today.)

Before any Boomer jumps into this style of business, you need to know the real skinny:

  1. Understand the business that you are considering. Don’t let anyone “excite” you into a business. Many network marketers use this kind of “excitement selling” to get people “into the business.” Only after you are in do you get to know what it really takes to be successful for the long run.
  2. Make sure that the product of the business is both saleable and something that you can put your name on. If you don’t understand the product or whether or not it is really a good value for your customers, don’t “get in.” I heard a network marketing leader just the other day say that the product he sold “had not done anything noticeable” for him, but he was sure it was a great product. Beware of selling something with questionable value.
  3. Understand the compensation plan. You need to know how you are getting paid, not because of the company is going to “rip you off,” but because some compensation plans have unique rules that can drastically reduce your compensation from month to month.
  4. Be sure to read the policies and procedures manual. There are some companies that have a provision to stop paying affiliates/distributors at the discretion of the company (usually with only 30 days notice).
  5. Only join a company that you have done your due diligence on. If you are being pressured to join “right now” be careful!

I have been in companies that collapsed and ceased to exist and in one’s that have succeeded beyond the wildest imagination of the owners and its distributors. In those that have done well, the opportunities for Boomers is real and those willing to learn and work hard, can enjoy a business that can be run from anywhere and can allow even the tired Boomer to make a dent in the universe.

PS – I would love to hear what you have to say about this arena of business but don’t comment with the idea of recruiting other readers into your business. Those comments will not be posted.

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Filed Under: Boomers Helping Boomers, Second Career Tagged With: , , , , ,

How Much Time Does It Take?

March 15, 2012 by Leave a Comment

How much time does it take to make sure you are doing the right thing in starting a business? That’s a good question. One that unfortunately doesn’t have a cut and dried answer. There are many factors that every new entrepreneur must consider and the time it takes to consider these factors varies person to person.

Here are just a few of the factors new entrepreneurs need to consider:

1.    Building a business based on their life’s purpose. Many have not even considered that their life really has a purpose, so to begin at this spot might take a significant amount of time.
2.    Determining whether or not their business idea can be a function of that purpose. It will take some time research, to structure, and to create the mindset that such a business can be created/profitable.
3.   The new entrepreneur must also consider their current skill set to decide what they know, what they need to know, and how long it will take to gain any additional knowledge as well as how much that knowledge will cost. They then must determine if they can spend the time/resources to gain that knowledge.

This list of considerations is by no means an exhaustive list. On the contrary, it is just a beginning. Each entrepreneur will have these and many other factors on their own list of  potential questions that will need to be asked and answered before any business planning, modeling, or marketing would even begin to take place.

It is possible for some that these questions can be answered quickly and with little effort, but, for most new entrepreneurs, care must be taken and time spent should not be considered wasted if, in the end, the right business is started and the entrepreneur is able to live their dream, according to their purpose, in both life and business.

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Filed Under: Designing Success, Small Business Tagged With: , , , , , , , , , , , , ,

I Own a Small Business

January 14, 2012 by 2 Comments

I was talking with a friend the other day about people who are in sales in industries such as insurance, real estate, car sales, etc. These people, in most cases, are “independent contractors” and are responsible for the efforts, taxes, and benefits just like that of a “regular” business owner.

The issue is that, while these folks often know and understand what it means to sell in their unique industry, they have been given little or no training in how to own and operate a small business. They seem to feel that if they just keep selling, everything will work out and they will do OK!

As our conversation continued I began to think about my years in two of these industries (real estate and insurance) and just how little education I received in either about the operation of a small business. It was only after two years in real estate that I even thought to myself, “I own a small business!”

What a revelation!! My whole world was turned upside down at the thought. I then understood that I had to treat things differently than ever before. My outlook changed and my education began afresh. I had to know, not only the technical aspects of sales, but I really needed to understand the key essentials to business success.

As the circumstances of life led me away from the business of sales, I am still aware and concerned about those “independent contractors” who know the tasks of their industry but still struggle with the business strategies that are essential to build and maintain a successful business in their chosen industry.

If you find yourself in this place remember three things:

  1. You own a small business! Get the education/training you need to help you understand the essentials of business ownership.
  2. Long-term success comes by developing a strategy first and then implementing the tactics to make the strategy work.
  3. No one should want you to succeed more than you. If you are really in an industry that you enjoy, commit yourself to the development of a business in that your chosen industry rather than just hoping the sales will continue without a real plan.

Make sure that your battle cry is “I own a small business” rather than “I sell stuff.”

What have been your experiences with business ownership that might help someone in sales? How can we help salespeople learn to design success?

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Filed Under: Small Business Tagged With: , , , , , , ,

The Trap of the Internet and Social Media

January 9, 2012 by 5 Comments


Starting a new business in the current business environment is as exciting as at any time in history. With the ability to be “seen” not only in your local market but also in every market around the world via the internet and the use of social media is just incredible.

Yet, with such powerful tools available, new businesses can also fall victim to the trap of the internet and social media. What I mean by this is that new businesses can easily get mesmerized by the power and reach of both the internet and social media and come to believe that if they are simply “out there” that success is guaranteed.

I remember having a conversation with a business owner who was in the second year of her business. She was a very savvy business woman who had used her internet and social media skills to launch her business a year prior to our conversation. What stunned her though was that now in her second year of business things weren’t going nearly as well and she was not getting the new business that had seemed to come so easily to her in the first year of business.

She recognized that her internet and social media efforts, which had been a large part of her first year success, were not bringing the same return as in the first year. As she considered her options, she began to reach out to her personal network and developed new products to make available to her local market. She continued with her online efforts as well, but learned that being online alone is not enough. You need to have a balanced approach to marketing that is strong both on as off line.

Don’t fall into the trap! The internet and social media can play a very powerful role in the success of your business, but for most businesses they cannot be your sole efforts.

What have you seen in your business? What other marketing efforts are you using to maximize your success model?

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Filed Under: Internet, Social Media Tagged With: , , , , , , , , ,

Tired of all the “gurus”!

November 29, 2011 by Leave a Comment

When I first started blogging and working in the area of social media, I read everything that the “gurus” were saying about social media and how to get noticed online.

After several years of reading and following these “gurus” I have come to the conclusion that I am tired of all the “gurus”! It seems that, for the most part, they are self-serving and only want to sell their wares. I’m not opposed to “selling your wares” as long as they have real value to individual clients. I struggle with so many people calling themselves “gurus” when all they have done is “parrot” what everyone else is saying.

For we Boomers who are looking for ways to reinvent retirement, these “gurus” can hook us early and we end up trying to create businesses that look like everyone else. These bland and unimaginative businesses fail as often as the averages suggest. And the “gurus” just keep on “teaching” the same worn ideas to another set of honest, hard-working people.

What Boomers need as they consider creating retirement businesses is for those who would be business/life coaches to consider them first. To help them think through and investigate what they want and how they want to do things. They don’t need “gurus” teaching tired systems, but rather they need honest people looking to help them find the business that makes their retirement years all that they have hoped for them to be.

So, if you are tired of all the “gurus” then take time to look for the right help that will help you help you reinvent retirement in the way that makes the best sense to you!

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Filed Under: Boomers Helping Boomers, Social Media Tagged With: , , , , , , ,

Twitter – The “Let’s Talk” Tool for Business Success

September 23, 2011 by 2 Comments
Twitter logo initial

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Of all the online tools that are available to small businesses to create a community of clients/customers, Twitter is both the best and the most misused.

It is the best tool because (1) It is free for you and your customers/clients; (2) It provides “mobile” access to your customers/clients; (3) It gives you the ability to create “Twitter specials” that you can send out when you need to increase your business traffic; (4) It allows you “real time” feedback to new ideas or innovations; and (5) It gives you the ability to respond quickly to any negative information you see online about you, or your company.

It is the most misused tool because (1) Too many businesses try too hard to sell with Twitter rather than to carry on a conversation with their clients/customers; (2) Too many businesses don’t know what to talk about on Twitter, so they don’t talk about anything important; (3) Too many businesses don’t understand how Twitter allows them to watch their business reputation so they don’t make use of that option.

Twitter, like any tool, is only as good as the one who wields it. If you take time to learn the “tricks of Twitter” you will have a power business success tool at your disposal.

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Filed Under: Social Media, Twitter Tagged With: , , , , , ,

Collaboration with Businesses within Your Niche

August 10, 2011 by 2 Comments


EC Cambridge - Computer Room

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I had a very interesting conversation yesterday morning with a group of business owners that I meet with every week. The conversation stemmed from a question: “When and how much should you collaborate with businesses within your niche?”

To me, this kind of collaboration should be commonplace and considered normal. After all in cities of every size, there are more than one car dealer, more than one pizza parlor, more than one marketing company. Nowhere does is one business niche completely controlled by just one company. If companies in the same niche did understand each other and collaborate in areas of each others strengths, would there be more business/profits for everyone? (All with a lot less headaches?) So, should my company collaborate with others in my niche, or should I just keep to myself and protect my skills and my knowledge?

One of our group members related the story of how she has been working with others in her niche for some time now and how beneficial that collaboration has been to her and her friends in the industry. I listened to her and was thrilled that such friendships and help has come to play among those who are in essence “competitors.” But my question was, “Is there a place you draw the line? Are there some people you wouldn’t let ‘pick your brain?’ When does sharing your knowledge give someone else your competitive advantage?”

Even as I write this, these questions are spinning around in my head. What I need are your thoughts on this matter. Tell me what you think? Let’s get a real powerful conversation going about this thought. I think if we could collaborate for the right reasons it would strengthen and expand the influence and success of all the businesses involved. Tell me what you think/have seen about collaboration with businesses within your niche!

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Filed Under: Networking Tagged With: , , , , , ,

Marketing Your Way to Business Success

August 5, 2011 by 2 Comments
Infographic on how Social Media are being used...

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I find it interesting when I talk to business owners these days. It seems that most of them have very strong views about what they are willing to do to market for business success. Some like outbound marketing techniques (ads, mass mailings, television and radio, trade shows, etc.) while others have abandoned almost, if not all outbound marketing in favor of inbound marketing techniques (blogs, content marketing, social media platforms, whitepapers, etc.)

But, those businesses who are building the strongest and most successful marketing strategies understand the benefits of a “blended” program that allows them to network on and off line. Let me explain with an example:

John Doe visits your companies website and enjoys an article you wrote about some aspect of your business. In that article you provide access to a free cd giving John more information about the theme of the article. The requirement for the free cd is, of course, his name and address. Once you receive the request, you send the cd out and have created a new lead for your products and services. Included in the thank you letter you send with the cd, you introduce John to your Facebook and Twitter accounts along with your YouTube channel. You also remind John of your blog/website url and invite him to subscribe via your RSS feed. Then on a regular basis you put more information in the hands of John via regular mail when they are ready email, always offering your products/services as a benefit to meet your clients needs.

By blending on and off line networking techniques, your marketing strategy will be seen as unique and will bring your business a more loyal and referring client base. This of course leads to more inquiries, more information requests, more customers/clients, and more business success. SWEET!

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Filed Under: Inbound Marketing, Networking, Social Media Tagged With: , , , , , , , , ,

Making the most of offline marketing …

July 18, 2011 by Leave a Comment
Offline-light

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One of the most difficult things for online marketers to learn is how to go offline and use traditional marketing in conjunction with their inbound marketing success. In making the most of offline marketing, the online marketer needs to learn three things:

  1. Offline marketing provides another avenue for you to get your message to your clients/customers. When you develop these offline marketing skills your clients/customers will be excited about the information that you provide them from this platform as well as your online contact.
  2. Offline marketing is about personal contact with your clients/customers. As an online marketer, we are used to emails and downloads. We are used to doing business without any “real” contact. Personal contact can come in the form of a phone call, a personally constructed card or note, or an invitation for coffee, lunch, or and event. This kind of contact creates a level of loyalty that cannot be created with an email or by watching a video.
  3. Offline marketing shows that you care about more than just “the sale.” When you use your offline follow-up skills to engage your clients/customers on a personal level, they will recognize that you really care about them. With this knowledge of your concern for them, they will become more willing to listen to you, take your advice, and/or purchase your product or service.

Even though so much of what is being taught in the area of marketing these days speaks to the things we do online, you cannot afford as an online, inbound marketer to forget the power of blending your online and offline marketing strategies.

What do you think? What kinds of offline skills have you developed? How have you blended your on and offline marketing strategies?

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Three Steps to Inbound Marketing Success – 3

July 13, 2011 by Leave a Comment
ESIC Business & Marketing School 01

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Over the past year I have read a lot of websites and looked at even more blog posts on the subject of inbound marketing. The three steps to inbound marketing success that I have described in this series is the “boiled down” results of all that reading. The conclusion of all the efforts of inbound marketing is that in the end you want the people who read your blog to contact you and ask questions about you, your products/services, and how you can help them with what you do.

In order to get your current/potential clients to this position you need to offer three things:

  1. You must offer advanced content that requires a response to your call to action. This content might be in the form of a video training series, a whitepaper, or an audio training series.
  2. You must follow-up with those who contact you to see if your advanced content answered their questions or if you need to meet with them personally. (Via phone, email, or face-to-face.)
  3. You must offer new, exciting, and valuable content to that special group who continue to seek additional information. Every time this group of loyal followers asks for and receives your valuable advanced content, they are one step closer to purchasing your products/services.

 

So, now you have the basics. What do you think? Is there anything else you want to know? How can you get your inbound marketing strategy in place and successful?

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Filed Under: Inbound Marketing Tagged With: , , , , , ,
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