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Sometimes entrepreneurs need to slow down to speed up – #GeniusShared

May 18, 2016 by Jane Boyd 2 Comments

A picture I posted on Instagram 2 years ago -- I was on my way to the airport to pick up Liz Strauss in Vancouver. (No I was not driving when I took this.)
A picture I posted on Instagram 2 years ago — I was on my way to the airport to pick up Liz Strauss in Vancouver. (No — I was not driving when I took this.)

Two years ago yesterday I was heading to the airport to pickup Liz Strauss here in Vancouver. During her week long visit, we conspired, we planned and we pushed through a ton of things to build the foundation for what now exists between us — and for what we want to build through GeniusShared over the long haul.

Today? Well — today we are in the midst of reviewing the galley proofs for her new book – Anything You Put Your Mind To, which is set to publish September 21, 2016 through GeniusShared Press. And we are getting ready to roll out several other initiatives too.

When you’re an entrepreneur, speed matters — but so does taking your time. And when you’re used to moving at the speed of light — well it can be tough to slow down. And to build carefully. But — it matters — because when you slow down for the right reasons, with the proper care and commitment and with the best people — it can make a difference. And in the end — that can be your difference — personally and professionally.

I balance my need for speed with also slowing down every single day — and I tell you this — never, ever — EVER — underestimate the good that can come from putting the time, effort and energy into building the right relationships. Relationships that are based on truth, trust, vision and connection — because — when you get that part right you build foundation — which means everything else comes so much easier and faster.

Sometimes you need to slow down in order to speed up.


Jane Boyd is a Partner in GeniusShared. She is also the CEO of 45 Conversations Media & Education Ltd, a Canadian education and training company based just outside of Vancouver Canada. She works with educators, business, community and government in the areas of early learning, work-life, community development and employee engagement.

Filed Under: P2020, Sharing Genius Tagged With: entrepreneur, entrepreneurs, Jane Boyd, Liz-Strauss

Is It Smart to Start a Business Past Age 50?

January 1, 2016 by Thomas 3 Comments

Business Man Walking To 2016 NumberStarting a small business at any age is a daunting task.

But beginning one after the age of 50 comes with its own set of unique challenges. Fortunately that’s not stopping many of America’s older entrepreneurs.

According to U.S. News & World Report, a 2015 survey found that nearly 26% of businesses started that year were from people age 55 to 64.

For many, their own business provides a means of making the money they’ll need to get through retirement.

Others choose this path because of a passion for work, to explore a second career path, or simply to have more control over their hours and schedule.

But what are some of the specific challenges facing those over 50?

Choosing the Right Type of Business

Younger entrepreneurs, for better or worse, have ample time to fail in terms of choosing the right business to start. Those over 50 have more at stake given looming retirement and need to make more calculated, smart choices.

While you may be deeply passionate about something, if your business doesn’t solve an already existing problem or fill some gap in the marketplace, it may not be viable in the long run. Prospective business owners need to take that into account in addition to assessing what unique skills they bring to the table for a new business.

As AARP suggests, you can get started by making a chart of your skills, past projects, and outcomes to get a comprehensive inventory of your own capabilities.

Getting Caught Up on Tech

In the article “Starting a Business After Age 50, Chief Coach of Bizstarters, Jeff Williams puts a strong emphasis on older entrepreneurs catching up on how to use the newest technology.

Williams suggests reading reputable business-oriented websites and publications to find technology how-to’s or even check out your local library for software classes or learning how to use specific equipment.

As technology is constantly changing, there’s no shame in not being up to date but prospective business owners need to be proactive with this education.

Consider Your Unique Limitations

For many entrepreneurs, the ultimate goal in starting a business is the chance to eventually sell it for a profit. Your age may expedite that need for an exit strategy. The upside here is that you’re forced to make added bigger picture plans early on in the life of your business.

Older business owners also need to be honest and reasonable when it comes to their level of physical stamina.

For example, if you’re nearing retirement age, it may not be the most sustainable idea to start a labor intensive, one-man landscaping business.

Starting your own dog-walking service, doing independent consulting, or making jewelry on the other hand, may have more longevity.

Putting Ego Aside

When you start a business after age 50, you’re likely coming into this venture with a wealth of knowledge and experience. However, as is the case with all successful entrepreneurs, you need to put ego aside and make choices that are in the best interest of your company.

This may mean that you need to be patient when it comes to a slow-growing client base. It may also mean that you’ll be getting advice or mentorship from professionals that are many years younger than you but have specific expertise to offer.

From putting ego aside to choosing the right business in the first place, those over age 50 can start their new company feeling prepared.

Additionally, hopeful entrepreneurs can use the internet as a tech education resource, making prospective business owners equipped with the tools they need.

Photo credit: BigStockPhoto.com

About the Author: Kristin Livingstone writes on a variety of topics including entrepreneurship and starting businesses.

Filed Under: Business Life Tagged With: age, business, entrepreneur, goals

Is the Time Right for Your Business Aspirations?

October 2, 2015 by Thomas Leave a Comment

Multi-ethnic Superhero Businessmen Confidence Concept

If you’re considering starting a business during what’s left of 2015 or anytime in 2016, there are a number of factors to keep in mind.

From the current health of the economy to the type of business itself, starting a successful business oftentimes boils down to timing.

Here are just a few tips for starting a successful business the first time around in the coming year:

Strike While the Startup Iron is Hot

Although many small and large businesses alike are still recovering from the financial crisis of 2008, all signs point to a recovering economy. This means good news for entrepreneurs looking to start a new business in the coming year.

The U.S. has regained close to nine million jobs in the past year and banks are beginning to lend to business startups again.

Likewise, if you’re trying to start a business without relying on a line of credit from a bank, crowd-funding through sites like Indiegogo and Kickstarter is also at an all-time high.

It’s also important to note that a healthy economy means less competition for industries of all kinds.

Whether you’re starting an online brand or a local business, when the business world struggles less, it gives your business a better opportunity to set up shop without competing with other similar businesses hungry for sales.

Ask for Advice

Regardless of whether you’re starting your business tomorrow or in the New Year, it’s always wise to ask for advice and tips from successful business owners.

As the following article looks at, whether you’re looking for 8 tips for starting a massage therapy business or you just need some help in the marketing department, a little advice goes a long way.

You can reach out to other business owners on sites like LinkedIn and Facebook, read up on business blogs, or meet with business owners in person. You’d be surprised at how willing successful entrepreneurs are to share advice on the startup process.

Timing is Everything

Although the economy is currently ripe for new businesses to take shape, that doesn’t mean you should jump right in to starting your business.

Successfully getting your business off the ground takes a ton of planning and perfect timing.

That’s why it’s so important to choose the right time to get the business ball rolling.

For example, if you’re starting a consumer retail business, consider opening your doors closer to the holidays as opposed to after the New Year.

Starting your business at the right time could give you a much-needed sales boost during those critical beginning stages.

Study the Competition

In the weeks and months leading up to your grand opening, be sure to study the competition closely. Keeping an eye on the success rates of industries and local businesses similar to yours will provide you with valuable insights.

Are similar businesses currently struggling or are they experiencing unprecedented sales numbers?

By studying the competition and asking these questions, you’ll know when the best time is to jump in the business arena.

If you’re trying to decide whether to start your business in the coming year, then keep in mind the helpful tips mentioned above.

Photo credit: BigStockPhoto.com

About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including business startups and the economy.

Filed Under: Business Life Tagged With: business, competition, economy, entrepreneur

Tips to Successfully Selling a Business

March 26, 2014 by Thomas Leave a Comment

asale

It can be a challenge to own multiple businesses, but it can also be profitable and rewarding.

However, there may come a time to sell off one business so you can focus on the others. But choosing one to sell and completing the transaction can be difficult.

Here are some tips to help you make a successful sale:

Recognizing the Challenges

A person who owns multiple businesses is called a serial entrepreneur.

They have unique challenges that other business owners may not face. It is important that they recognize those challenges to make each business successful.

Business owners must learn how to manage their time and delegate tasks to others.
While this is important for all business people, it is critical when you own more than one. You also have to make sure you are spending enough time with each business.

How to Choose the Right Business to Sell

One of the signs that it may be time to sell off one of your entities is that it takes up too much of your time and doesn’t allow you to focus on your other companies. It’s better to let one go than to lose them all because you can’t pay enough attention to them.

A business that has reached its peak may be ready for new ownership.

You want to sell before it is on a decline, while it still has a strong value.

If you have a partner, you will have to reach the decision together. This can be challenging if each of you have a particular favorite. However, having a partner can also be beneficial because it is someone you may be able to convince to buy your share.

Many serial entrepreneurships involve partners, such as The Light Group with Andrew Sasson founder and Brian Massie, that owns multiple restaurants in Las Vegas.

When one partner wants to sell, he may have an automatic buyer in his partner.

Selling Your Business

You will need to create a sales agreement once you find a buyer.

This will provide the sales price, list of inventory; covenant not to compete, a list of fees, and many other forms.

It is best to work with an experienced attorney when selling your business. You want to make sure you comply with all of the rules and regulations in your location and for your industry.

You will also have to consider the impact to your staff and how you will handle things with them.

In some cases, you may be able to get an agreement from the new buyer about keeping all or part of the staff on after the sale. But this may not be binding unless it is part of the actual agreement.

Also remember that you will need to decide when to tell your staff and how to transfer tasks. This can be more difficult if you have employees who work in more than one of your companies. There may be some anger or jealousy between employees.

It is essential to think through your decision to sell one of your businesses and to understand each step of the process.

While the hardest part may be in choosing which company to sell, it is only the first step of many.

Photo credit: frontrangebusiness.com

About the Author: Joyce Morse is an author who writes on a variety of topics, including SEO and small business.

Filed Under: Business Life Tagged With: bc, business, entrepreneur, ownership, Selling

Stop trying to be like everyone else – grow your business faster

October 11, 2013 by Rosemary Leave a Comment

By Brian Morris

A few years ago, two friends started a small business in my hometown. Like so many local entrepreneurs that came before and after, they failed. Within a year of opening their doors, their business was dead. They listened to business advice from the wrong people, people whose own businesses were struggling, people who kept telling them to be patient, and they were forced to shut their doors.

If you’ve ever researched starting your own business, you know that one of the most discouraging bits of information consistently recycled by small business gurus is that it will take two to three years for your business to be profitable. That’s a kick in the teeth to otherwise-motivated entrepreneurs who don’t have three years of income built up – or, most of the living universe.

And it’s hogwash. Look, this is the digital age. You can turn a profit today.

Now, I don’t want to oversimplify the process of building a profitable business, and I’m well aware that start-up costs and overhead for, say, a refrigerated trucking company are vast in comparison to, say, a graphic design firm. But the reason I think it takes so many entrepreneurs so long to turn a profit is that they’re trying to be like everyone else.

It all comes down to marketing. You see what the successful businesses are doing, and you try to do it, too. There are three ways people market in my hometown, which boasts a population of around 8,000 people: television, radio and newspaper.

To that I say: expensive, ineffective and wasted effort, respectively. It’s literally been years since I’ve received a direct-mail postcard from a local company, despite the fact that I get postcards every day from national brands. And door hangers? Please…

No one hosts publicity stunts. No one markets effectively on the web. No one posts massive vinyl banners at the busiest intersections, which witness traffic figures easily 10 times the population every single day.

And guess what? Most of our start-ups fail. They blame their failure on so many things: the economy, lack of support for local businesses, the “death” of our downtown, Amazon.com. Few ever blame the real culprits: themselves.

Instead of marketing where everyone else does, try something new. Distribute door hangers door-to-door. Print vinyl banners and place them in high-traffic areas. Brainstorm a fun and engaging publicity stunt, and get awesome PR for it. These are all cheap. These are all highly effective.

What happened to my two friends? Well, one decided to start another business. He opened an office and began to toil, plying his service using the same failed strategies. His mindset, I think, was that the business wasn’t profitable because two people were one too many to get by on their profits.

The other likewise started another business, but adopted a different, more bold marketing strategy. He walked the city with door hangers, began submitting press releases to the local paper, joined networking groups, volunteered in the community, and always has a nice big banner prominently displayed.

Five years later, the friend who opted to keep going down the path of slow and steady lives in an apartment on the wrong side of town. He works out of his rental unit, the downtown studio long gone. The other has bought a new home in a good neighborhood (and I think he’s got at least $30,000 wrapped up in a new addition) and is well-known, respected, and liked throughout the community. His business, it seems, is thriving.

To the best of my knowledge, both of my friends are capable of producing high-quality work, but only one is willing to do what his competitors will not. You hear NFL players talk about playing with a sense of urgency. My friend worked with a sense of urgency – a do-or-die, now-or-never approach – and grew his business rapidly.

Go guerrilla. Market aggressively and on the cheap. Be a grassroots business. Push for business growth without wasteful marketing efforts.

Be bold, and do what your competitors will not do. Don’t do what failed businesses have tried.

Stop trying to be like everyone else. Don’t fail by taking the well-worn path. Be new, different, better. Grow your business faster.

Author’s Bio: Author’s Bio: Brian Morris writes for the PsPrint Design & Printing Blog. PsPrint is an online commercial printing company. Follow PsPrint on Twitter @PsPrint.

Filed Under: Inside-Out Thinking, Marketing /Sales / Social Media, Successful Blog Tagged With: bc, entrepreneur, marketing, startup

Stand Out From the Crowd: 5 Personal Branding Tips for Entrepreneurs

July 5, 2013 by Rosemary Leave a Comment

By Ava Morrison

Entrepreneurs often become the public faces of their companies. Follow these five branding tips to build a reputation for yourself as well as your company.

Branding Tip #1: Use a Consistent Voice That Emphasizes Your Identity

Consistency is a key component to effective branding, especially when it comes to the voice and personality that you portray online. No matter what platforms you use, you want to maintain a voice that your fans and followers can easily identify.

Assuming that you have a personality that your target audience will like, you just have to be yourself. Everyone has off days, though. Always read over your posts and tweets before sending them out. You don’t want to distance your fans just because you’re having a bad day.

Branding Tip #2: Establish Your Twitter Handle

Twitter is a great branding tool that lets you send out short messages to your followers. You can use it to comment on current events, mention upcoming promotions for your business, or just make random observations about the world.

Justin Bieber has the world’s most popular Twitter account. That’s partially because he’s one of the world’s most popular entertainers. Give the young man some credit, though. He uses the Twitter machine to deliver positive messages daily. He releases info about his own work, but he also promotes other stars and lesser-known artists.

Even if you’re not a fan, following his Twitter feed will show you how to use the platform well.

Branding Tip #3: Register Your Own Name as a Website Domain

Having your own domain name makes it easier for you to separate yourself from similar entrepreneurs. Many people use their websites to showcase their careers. You can also use it to help people connect to the other platforms that you use, like Facebook and Twitter.

You don’t have to spend a ton of money registering a .com domain. For example, the popular Pastor Ed Young uses a .info page that provides information about himself and his work. It’s basically a comprehensive biography of his work and life.

He also has a .com page that emphasizes his entrepreneurial activities, such as book sales and speaking tours. That’s important, but his personal page offers straight-forward branding that avoids direct advertising.

Branding Tip #4: Update Your Blog Frequently

Your blog gives you a chance to talk about any topic that interests you. You’re not limited to 140 characters like you are with Twitter. Plus, you can use your blog content to push readers towards your static webpage.

Like any other type of branding, make sure you use a consistent voice that describes the world from your point of view.

Branding Tip #5: Use Social Media to Get More Followers

Currently, Facebook has more active users than any other social media platform. Having a personal page that’s separate from your business page will let you keep in contact with your fans and colleagues.

Facebook is a great tool because it can help you attract fans for your other social media pages and websites, too. Post YouTube videos, blog entries, and Twitter messages to Facebook to reach more people.

What other branding tips should entrepreneurs follow? Have you found online platforms that you like more than those mentioned above?

Author’s Bio: Ava is a freelance writer who resides in Tampa, FL. She likes to travel, workout and spend time with the people she loves.

Filed Under: Personal Branding Tagged With: bc, blogging, entrepreneur, personal-branding

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