Small Business Boomers

When I was a kid, one of the most fun things in the world was getting dressed up and going trick-or-treating like the kids in this 1952 photo.  And, of course, there was the Halloween party at school, where we paraded around and got to see the costumes of the other kids, and, of course, eat junk.  No more.
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I hear from my grandchildren that they don’t have Halloween parties in schools any more.  That, to me, is sad.  Now, before you jump on me and tell me that Halloween is offensive to some people, I’ll tell …read more

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Hiring your children is a good way to help your Baby Boomer business:

You can get some needed part-time jobs done that it would be difficult to hire someone else to do
You can save on taxes
Your child can spend the money or build up money in a college fund.

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If you have children between 7 and 18, you can hire them to do necessary and useful work in your business and you can save money on business and personal taxes.  Notice I highlighted “necessary and useful.”  The work they do has to be of benefit to your …read more

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My best friend just got back from China.  She walked the Great Wall, up many steps, and she was able to keep up when other younger people weren’t.  She has a regular vigorous walking routine, she lifts weights, swims with a Master’s group, and does yoga.  She is in great shape! And new information shows that being in shape physically can help keep you mentally fit too.
A recent study funded by the National Institutes of Health (and published in September in the Journal of the American Geriatrics Society) shows that older women who are active do better on cognitive (knowledge) …read more

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Over at Home Biz Notes, Mary Emma Allen talks about a business Baby Boomers might enjoy having: Pet Sitting and Dog Walking.  If you are an animal lover like me, this would be a great idea for a business.  I agree with the the comment, though, that walking dogs in Iowa in the winter might not be a lot of fun, but you never know.
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Here are some considerations for starting a pet sitting/dog walking business:
You can set up this type of business simply, as a sole proprietorship.  Then all you need to do is get a …read more

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I decided to retire over a year ago.  Now I’m reconsidering. I’m still leaving my former employer, but I’m looking for other job opportunities.  No sense sitting around watching the market; I need to get out there and make some money.
If you have decided to go back to work or start a new company, you’ll need to flex your networking muscles and re-establish networking contacts with people who can help you or with potential customers.  Here are some suggestions to help you get re-energized with the networking game:
1. If you are looking for a job, try …read more

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One result of the credit/banking crisis has been a new wave of lenders who can help you get loans for your small business when other traditional lenders cannot.  A recent Wall Street Journal article detailed one such lender, On Deck Capital.  Instead of requiring you to put up assets for more traditional types of loans, On Deck lets you leverage your cash flow for loans up to $100,000.
If you are like a lot of other small business owners, you may be finding it difficult to get a traditional loan.  On Deck  says that 65 percent of small businesses seeking loans …read more

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Or will younger voters, who are supposed to be turning out in great numbers, be the deciding generation?
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A recent TVLand poll predicts that 94% of Baby Boomers will be voting a week from today, with 82% of those polled stating that they are “extremely likely” to vote.  Since Baby Boomers are the largest generation, we could have a definite effect on the outcome of the election.  As you might have guessed, top issues for Baby Boomers are: the economy (81%), health care (65%), gas price (62%), Social Security and Medicare (58%) and taxes (57%).  But 76% …read more

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Like other baby boomers, I donate to my favorite college.  Many boomers give to their alma mater, either for the sports program they love or to fund specific capital giving.  But the economic situation has all that giving in jeopardy. 
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FoxBusiness reports that alumni giving is not much affected by changes in economic situations, because alumni figure that giving back is part of their “dues” for what the school gave them. I’m not sure I agree with that.  Given the choice between re-funding my IRAs and giving to my undergrad institution, I think I’d choose the …read more

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When I write posts, like the one I wrote last week about starting your own “For Sale By Owner/FSBO” business, I tend to forget that countries other than the U.S. might be doing the same thing.
May commented on my post and sent me the link to a website “BuyMyHome” for Australia.  Thanks, May.
Other inventive entrepreneurs have created a FSBO site for U.S. military (militaryfsbo.com) and a restaurant FSBO site (http://restaurants-fsbo.com/ ).  The posibilities are endless!
Do any of you know of similar sites in other countries or for other types of businesses or buildings?

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This week, consider joining a board of directors to make a difference in your community.  Board members are individuals who (1) have the time and interest in a non-profit organization to attend meetings and (2) have experience they can offer to the non-profit. Sounds like we baby boomers meet both of those qualifications.
I was on the school foundation in my children’s school district for a number of years, and it was a great way for me to help the school system (we did fund-raising and used the money to benefit the schools and to provide scholarships …read more

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