Small Business Boomers

Big stock market drop, because the Chinese stock market has become too risky.  Sounds strange, but it is true.  The world is awash is money searching for a higher rate of returns.  Keep in mind that rates of return and risk move in the same direction.  The difference between a bond sold under Security and Exchange Commission oversight (conforms with Sarbanes-Oxley regulations) and one sold by the same debtor outside SEC regulation is 11 basis points or 11/100 ths of one percent, chicken feed.
Everyone is looking for a higher rate of return on their investment: boomers and pre-boomers alike.  People …read more

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Last night my wife and I went to the home of a friend to hear her practice for an upcoming piano recital.  Our hostess, Joyce, runs an international support team for GE and  is a 6 Sigma Black belt. She has been taking the piano for the five years.  As I listened to her play and make mistakes, I had to wonder why she put herself through the regiment of a high school student to learn the piano.  She is definitely a Type A person who excels at her job. She has many opportunities to travel and expand her skills …read more

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When I was 49 I was pretty burned out from multiple business start-ups, relocations and health problems.  My son was having a difficult time in high school and my mother was in failing health.  I took 3 years off to handle family issues and reinvent myself.  At 52 I had a new skill set to layer on top of the old one.
There were bumps coming out as a rooky programmer at that age.  I had to get experience and I made mistakes.  The up side was that the new skills got me in the door where the skills I’d built …read more

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It’s come to my attention that the type of topics I’ve been covering could easily be expanded to cover all Boomers who intend to keep working.  In order to do that I’ve added two new categories “Jobs” and “Work”.  These topics will deal with information that will help those who don’t necessarily want to run their own businesses, but want to remain employed.
Let me know what you think?

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What business do you get into?  What kind of work do you do?  An important strategy is to play to your strengths.  What are the strengths that a boomer might bring to an enterprise that would give them some advantage?  The scientific study of the brain gives us some direction.  Friday, February 16th, the Wall Street Journal wrote an extensive science piece on aging, the brain and the related cognitive strengths of old brains (The Upside of Aging). It can give us some insight about where we might find success as we pursue new endeavors or just extend old one.
Scientific …read more

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Be of good cheer.  Apparently, anything will work if it is done correctly.  There was an article in the Wall Street Journal on Wednesday about a company in Indonesia who is developing a cemetery with a theme park.  The Saturday before the Super Bowl the WSJ had a piece about all the business generated for exotic dancers during the game.  Someplace in California does stripper pole rentals and they do 40% of their business on that weekend.  There are two points.  First I love reading the Wall Street Journal.  It may be the best journalism around.  Second, and more important, …read more

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Today’s business environment demands that your business management team be technology smart.  There are different levels of smart.
My son runs a business on the side supporting small businesses such as a home travel agency, tattoo parlors, churches, and others.  He provides web site design, web site hosting, low cost tech advice, trouble shooting, hardware repair and other miscellaneous techie stuff like that.  Here’s the plug for my kid.   www.samserv.net
Every small business needs a resource like my kid to implement and support the technology your company needs in today’s business environment.  The other option is that you do the Computer and …read more

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There is nothing that adds spice to your life like having a passion.  It would be a very dull life to never have an emotional connection to some person, idea or thing.  Buddhists are often told to strive to rid themselves of the “wanting mind”.  To me such an achievement would lead me to a life that is peaceful, but not interesting.  Many religions describe Heaven as a place where we would not want for anything.  I’m sorry that sounds like Hell to me.
Like most everything else passion can be a good and a bad thing.  It’s a question of …read more

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Congratulations, you are the Chief Financial Officer.
Look across the breakfast table.  Look in your check book.  Look in the mirror.  Call your bother.  For many small businesses the financial brain trust has just met.  For your business that may be enough, but probably not.  You don’t need much more and you don’t need it all the time, but you do need more.
A small business, as opposed to a hobby, should have rigorous financial records.  There are several good pieces of accounting software out in the market.  Everyone should take advantage of them.  I make an assumption that your business already …read more

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“Nothing happens until somebody sells something."
Sales is the engine that drives any business.  No sales, no business.  That means that everybody on your business team is a sales person.  There are specific sales and marketing functions that need to be performed.  Specific individuals need to have responsibility for those things, but everyone in a small business needs to act with the customer in mind.
For those of you who have never been an official, full-time sales person you have no idea how difficult it is.  All a sales person has is their reputation.  Customers don’t buy a good idea or a …read more

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