Baby Boomer Entrepreneur, Do You Want A Worthless Business?

If you are like most entrepreneurs, you are building your business primarily to give yourself a job. This is true not only for baby boomer entrepreneurs, but entrepreneurs of all ages. If you are currently, or hope to be, one of the owners of the 23 million businesses in the U.S., and don't want to explore being able to build a business you can sell to someone else, this book is not for you.

However, if you want to maximize your options, this is the book you seek. If you want to be the 1 out of 100 business owners who have something of value that someone else would want to buy, this could be the book for you. If you are tired of the typical chaos of small business or you are tired of the business practices that make most service businesses unsellable, you may want to look over the shoulder of Alex Stapleton, the owner of the business discussed in this book. Learn why building a sell-able business might be your best option.

Following Alex through this fictional account as he learns how to build systems and a management team will expose you to new options. Even if you are already a fan of E-Myth's Michael Gerber, you will gain new insights on how to “work on your business and not just in it”. Through his story, author John Warrilow shares the benefit of much experience in actually doing what he teaches you to do in the book. You will learn what to do, how to do it, why to do it, when to do it, and how to handle situations with conflicting priorities. He even gives you an “8 Step Model For Selling Your Business” in the recap of what you should learn.

As baby boomers, a new business may be the best bet for a comfortable retirement. If you are already a baby boomer entrepreneur looking to downsize and form a different business, this book may help you. If your goal is to get freedom with your time, I recommend you take a look. You might even only want to sleep better knowing that you could sell your business if you want to do so.

READ Built To Sell if you want to know:
1. How long it will take you to prepare your business for sale.
2. How to find prospective buyers.
3. How to avoid being taken advantage of by your advisers or your prospective buyers.
4. How to reward your management team for helping you build a sell-able business and make them willing to stay with the business when you leave.

If you are a baby boomer entrepreneur, you will be delighted to learn how to turn your business into one you can sell. Of course, this is true for entrepreneurs of all ages.

For more videos and more information, see my Squidoo Lense: Baby Boomer Entrepreneur, Do You Want A Worthless Business?

Shallie Bey

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Do You Really Have To Pay To Play, Aspiring Baby Boomer Entrepreneurs?

In the old era, you had to pay to play. But today's aspiring baby boomer entrepreneur has a new edge. In the old model you had to buy attention. But today, corporations are discovering that big budgets don't produce results the way they once did.

So, if big companies are spending less on social media and getting better results, doesn't it make sense that you can make it on a low or perhaps no budget too?

You can't buy attention anymore.
Having a huge budget budget doesn't mean anything in Social Media.
The old media paradigm was PAY to PLAY.
Now you get back what you authentically put in.
You've got to be willing to PLAY to PLAY.
------- Alex Bogusky, Co-Chair, CP&B

The following video shares with you a glimpse of how Social Media is completely changing the nature of the game.





You can do market research on social media. You can serve your customers through social media. Social media is the doorway to your success as a baby boomer entrepreneur.



One very exciting example of market research is the new use of Twitter to predict customer response to a product.

Two researchers at HP Labs have established that they can use Tweets to predict how well a movie will do - research that can be applied to all manner of events including how well a product or ad campaign may perform.

Although the researchers, Sitaram Asur and Bernardo Huberman, have only applied their methodologies to Hollywood movies, the accuracy rate of their tests is startling - essentially it was more accurate than the current gold standard, the Hollywood Stock Exchange, which the industry uses, writes Fast Company.
You can click here to get the full story. http://www.marketingvox.com/twitter-as-a-predictive-tool-046619/?utm_campaign=newsletter&utm_source=mv&utm_medium=textlink

Fellow baby boomer, we are blessed to be living in the most exciting of times for entrepreneurs. If you know what business you want to be in and how you want to serve your customers, you can PLAY TODAY.

Shallie Bey

Baby Boomer Entrepreneurs Gary Vaynerchuk Explains The New Opportunity

Gary Vaynerchuk explains what he sees as the new opportunity for entrepreneurs. It is the ability to build a business focused upon your personal happiness and your personal range of opportunities. This is wonderful news for everyone, but especially for aspiring baby boomer entrepreneurs.

He explains that we are in a sea of culture shifts. These shifts create opportunities that did not exist: five years ago, a year ago, even days ago.

Gary Vee believes that the Internet is the single most under-rated aspect of society today. It is the open door to the "Thank You Economy" that places word of mouth on steroids. It is the opportunity to create real relationships in new ways.




Winning this battle requires living in a world where content is King and marketing is Queen. It opens the opportunity for "Tag Team Partners" where a content producer can partner with a marketing partner. The team can produce results that neither could produce alone.

Now, in the spirit of disclosure, Gary is about passion. In the midst of his excitement, that passion shows up in the form of a word that you might not use in polite company. But, if you can overcome that, Gary Vee has a word for you about becoming a baby boomer entrepreneur.

Shallie

Shallie Bey
Smarter Small Business Blog

Note: The video is about an hour and eighteen minutes long. The first thirty minutes are presentation with the balance being Q & A. You can find the direct link at:

Crush It.

Baby Boomer Entrepreneurs Seth Godin's Linchpin Has Been Out For A Month

Well, baby boomer entrepreneurs, Seth Godin's new book, Linchpin, has been out for a month. What are we seeing about it's impact so far?

As for me, it has been a wonderful month. I've read Linchpin a couple times. I've shared it with many of my friends. I created a squidoo lens called Become A Linchpin. That is exactly what I want to do, be a linchpin. What have you decided? Why don't you tell me in the comments below?

Shallie Bey
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Baby Boomers - Especially Entrepreneurs - Seth Godin's New Book Linchpin Is For You

How can I make such a statement to you baby boomers? After all. Seth says:
- I didn't set out to get you to quit your job
- or to persuade you to become an entrepreneur
- or merely to change the world.

Yet, he also says: ...fearful employees are in pain. They're in pain because they're overlooked, underpaid, laid off, and stressed out.”

“You weren't born to be a cog in the great industrial machine. You were trained to be a cog.”
“ You were promised: Follow these instructions and you don't have to think”

Now I ask, who can he be speaking to other than baby boomers. Who has lived under this training longer than any other generations? All of our lives, we baby boomers have been “pushed to produce, to conform, and to consume”. That is why 77+ million of us are looking to end our work careers. That is why many of us are seeking an alternative to traditional retirement and searching for advice on how to start your baby boomer business. We don't want anymore “attendance based compensation”.

We want the choice to be indispensable and to make a difference. As consumers, employees, and business owners - we do not want to participate in the old model “of racing to make average stuff for average people in huge quantities”.

As baby boomer entrepreneurs, we are starting baby boomer businesses at an amazing clip. We are already half of all the self employed business owners in America. Baby boomer women are leading the way at business formation at about twice the rate of men.

Seth doesn't promise you a map. What he does provide is a compass to point you in the right direction. He does advise you to focus on the audience you choose. He advises you to listen to them to the exclusion of all others. He advises making these customers happy. “Let the other guys pound sand”.

Baby boomers, especially entrepreneurs...this one is for you!

Baby Boomer Entrepreneur, What Is Your Problem?

Roman Ross and I met for breakfast at a truck stop in Dallas. It was a great way for old friends to begin the new year. We like the buffet at the truck stop, having met there for breakfast before. It has good food and lots of variety, all at a reasonable price.

We were greeted by a very gracious server who seated us and brought menus. Roman asked her if there would be a buffet. The server told us the buffet wouldn't be open for about thirty minutes. Or, we could order anything we wanted from the menu. Roman told her we would wait for the buffet. The server brought us coffee. While we waited, we began to discuss the problems of the world, especially the new ones that have unfolded since our last visit.

New Year's Day is always a good time to discuss the topic of change. Change influences options. For many of us baby boomers, change seems to have reduced our options. We are older. For many of us, our problems are health related: vision, mobility, high blood pressure or diabetes.

Perhaps our problem is from our history. We might have issues lingering from earlier in life. We might not have the "right college major". We might have dropped out of college. We migh not have gone to college.

Perhaps our problem is from our present. We are getting a divorce. We don't have a job. Our industry that we have worked in all our life is dead, downsized, or outsourced. Our car isn't running.

The key to our future is recognizing and understanding problems. This is not about problems in the since of our personal sources of vexation and perplexity. We must understand the problems of people around us. We must think of problems in the sense of being a question raised for consideration or a solution.

All around us, people have problems that require solutions. People are eager to find solutions to their problems and will look upon you as a hero if you can show them effective solutions. They will pay you to help them find solutions when they don't know how to solve their problems.

Just as I was sharing my point about the word "problems" having two definitions, I noticed the servers were opening the buffet. Before I could suggest to Roman that we head over, I realized that people were getting up all over the restaurant. They were making their way to the buffet in mass.

Roman and I just sat and drank a bit more coffee. We watched the people serving themselves. The buffet became our case study on solving problems of people around us. We saw how the restaurant manager became the hero for 25 - 30 people by opening the buffet...by providing what the people wanted.

Though it was not obvious when we first arrived, it looked like nearly everyone in the restaurant was waiting for the buffet. Presumaby, we were all hungry. We could have ordered from the menu pretty much anything that we would have taken from the buffet. But we all wanted the buffet.

The solution to our hunger problem was not just food, but food delivered in a special way. The buffet gave us a package with options under our control. We could have what we wanted, with any combination we wanted, and as much as we wanted. As one of the hamburger commercials promises, we could have it "OUR WAY" and we had control of the maximum price.

Having once been a restaurant owner, I enjoy referring to delivering your product or service in such a special way as your "special sauce". YOUR special sauce is what makes your solution different and...to the taste of your customer. A hamburger can be a commodity like a light bulb if there is no way to tell one from another. A hamburger becomes special when your special sauce gives the hamburger a taste that makes your customer drive across town...to get a hamburger that tastes exactly the way they want it to taste.

So the way we create opportunities or options in our future is not to study the problems that limit us. Success is in studying the problems limiting those around us. We want to offer solutions to their problems. Our problems must have our "special sauce"...the way that not only fills their hunger, but in a way exactly according to their taste. Our special sauce makes it impossible for anyone else to solve their problem our way. Your problem is to find solutions to things vexing and frustrating those around you. The solutions to the problems of others are your doorway to new opportunities.

So, baby boomer entrepreneur, look around and discover the problems of health, the problems of the past, and the problems of the present...the problems that limit and vex those around you. Be the leader in solving a problem or some aspect of the problem, so you can help those around you. We call that a niche. What problem of others will you adopt for the purpose of finding solutions? To whom will you be a hero? So, baby boomer entrepreneur, what is your problem?


Shallie
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PS...Do you need help with your baby boomer business? Do you want to develop your special sauce? Join our free mailing list. Just fill on the box in the top right corner of this page. I will share with you some of the best business building tips available for free on the Internet. We can help you find your problem, the one that will solve the needs of your customers and will make you their hero.

About InCouraged- Because Courage is Contagious

Who is Megan? Honestly, I don't have a clue. But Megan encouraged me today with a blog post.

Her blog is called InCouraged. The sub caption is..."Because Courage Is Contagious".

Megan shares a series of five posts this month that I have really enjoyed:
Dec. 1 - Being A Better Decider
Dec. 2 - Liberating Your Emotional Real Estate
Dec. 3 - Rounding Out Your Inner Circle
Dec. 4 - Adding Structure to Gain Freedom
Dec. 5 - An Open Letter to Aspiring Entrepreneurs

If you are considering becoming a baby boomer entrepreneur, I encourage you to check out InCouraged.

On her blog, Megan talks about an epiphany she had one day in the shower. She shares the story behind the birth of the blog. Let me just share with you this part of the story:

So why are we doing this? Because it takes courage to look fear in the face, embrace it, learn from it and convert it into a positive force that only you can create. And in this day and age, we need more of it. A lot more.

I hope you will be encouraged by InCouraged. Let's prove that Megan is right...that Courage Is Contagious.

Shallie
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Baby Boomer Entrepreneurs, What "Blank" Are You Trying to Sell?

Baby Boomer Entrepreneurs, what "BLANK" are you trying to sell? Will your customers be able to find you because your BLANK is clearly available through all the important channels?

Will all the right sources tell your potential customers that your BLANK is the best BLANK available? Will people see you as the guru of BLANK? Are you the world wide leader of the BLANK Tribe?

If you struggle with getting the word out about your BLANK, you might want to know about MY FREE BLANK, Join The Baby Boomer Entrepreneurs.

Thanks to Ben McConnell at the Society for Word Of Mouth for the video:
http://www.theswom.org/profiles/blogs/when-people-talk-about-blank

Shallie
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Entrepreneurship At Any Age - So What?

Does age matter if you are an entrepreneur? The answer is "no" according to 18 year old Houston based entrepreneur, Keith J Davis. He makes his debut as a book author with "Young? So What!" (K. Jerrold Publishing, U.S. $15.00).

He lists 10 steps to becoming a successful entrepreneur. He shares that the common question is "What can an 18 year old tell me about achieving success?" ReShonda Tate Billingsley, a national best selling author answers. "I recommend 'Young? So What!' to anyone looking for greater clarity on how to achieve success as an entrepreneur or in life period."

Davis' top ten list begins with having the right mindset. He credits his parents for leading him in the direction that helped him develop his mindset. "They instilled in me that there are no excuses for not attaining your life goals and no certain age for when a person should begin to leave a mark in the world."

Though Davis has targeted sharing his message with other kids his own age, he has a message for us baby boomer entrepreneurs as well. "Over 50" So What?"

You can find more about Keith Davis at http://www.keithjdavisjr.com/index.html

Shallie Bey
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Track back http://www.cnbc.com/id/31852748

Baby Boomers, Listen To “The Next Iron Chef” Winner's Recipe For Entrepreneurship

Small Business Stories - Michael Symon

Michael Symon, 2007 winner of The Next Iron Chef, has recipes for food and for business success. Learn how he starts new projects. Learn why national hotel chains are giving him offers to design and operate new restaurants. Learn his concepts that apply to any business strategy. Learn what you can do to effectively get your business started.

Learn why in a volatile business like restaurants, 75% of his initial staff still works for him. Find out what he means when he says his first goal is to figure out how to do it the right way, and then how to make money.

This is a 27 minute video by an amazing and entertaining entrepreneur. See if he can get you to “drink the koolaid”.

Shallie Bey
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Baby Boomer Entrepreneurs, What Are The Behaviors of Successful Business Owners?

Would you like to know the three issues that every business owner must deal with regardless of the size of the business?

Would you like to learn a three step process to successfully address those issues?

Do you know why you must evaluate your success based upon the success of the people you hire?

Do you know why beginning with the One Page Business Plan can be the foundation of your success?

If those are interesting to you, you want to watch Ron Finklestein's video, Behaviors of Successful Business Owners. Ron is a business coach. He is also an expert author at www.evancharmichael.com. This site is promoted as the Internet's #1 resource for small Business motivation and strategies.

Baby Boomer Entrepreneurs and entrepreneurs of all ages, five minutes invested in this video could give you the leg up to success that you are seeking.

Shallie Bey
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Baby Boomer Entrepreneurs, Does Business Incubation Improve The Odds of Business Success?

As the economy continues to be weak, it is important for baby boomer entrepreneurs to know about business incubation. Business incubation in a formal program may be the key to business success as you form your new enterprise. If you can't join a business incubation program, you may want to simulate one of your own.

The National Business Incubation Association says that business incubation programs provide entrepreneurs with a guiding hand to help them turn their ideas into viable businesses. Since the first incubator opened in Batavia, N.Y., 50 years ago, incubation programs around the world have been providing client companies with business support services and resources tailored to young firms to help increase their chances of success.

Does Business Incubation Improve Odds of Success?
The U.S. Department of Commerce Economic Development Administration validates that incubation works. Their research says that business incubators provide communities with significantly greater results at less cost than do any other type of public works project.

Researchers found that business incubators are the most effective means of creating jobs – more effective than roads and bridges, industrial parks, commercial buildings, and sewer and water projects. In fact, incubators provide up to 20 times more jobs than community infrastructure projects (e.g., water and sewer projects) at a Federal Government cost of $144 to $216 per job compared with $2,920 to $6,872 for the latter.

In another EDA-funded study in the mid 1990s, it was found that 87 percent of all firms that had graduated from NBIA member incubation programs remained in business – and about 84 percent remained in the incubator's community.

It is estimated that in 2005 alone, North American incubators assisted more than 27,000 start up companies that provided full-time employment for more than 100,000 workers and generated annual revenues of more than $17 billion. Many thousands more jobs were created by companies that had already graduated from these business incubation programs and now operate self-sufficiently in their communities.

If a strategic focus on innovation and entrepreneurship makes the difference in businesses started in business incubators, a similar focus will work for you.

Find out more about business incubation by visiting the National Business Incubation Association at www.nbia.org.

If you can't find an incubator, you may be able to simulate the incubation process by participating in a structured process. See our suggestions on doing this by visiting Join The Baby Boomer Entrepreneurs.

Shallie Bey
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Shallie Bey Joins New Twitter-based Question and Answer Resource for the Baby Boomers

Baby Boomers, gain access to a community of over 80 professionals and organizations for free timely advice!

If you are a baby boomer looking for help with career choice options, beginning an encore career, or launching a new business venture, there is a new resource available to you.

Shallie Bey of Smarter Small Business Blog, dozens of other professionals and the Baby Boomer Knowledge Center (TM) are contributing to the improvement of communications and relationships between professionals and you, the baby boomer consumer. This new initiative is called @BoomerAuthority. Shallie Bey will serve as one of the authorities on baby boomer entrepreneurs and other business issues.

You can submit questions to @BoomerAuthority through Twitter. It doesn't matter whether you need help with an issue, have a question, seek an opinion, or simply want a recommendation. You just send a public message on Twitter to @BoomerAuthority. The twitter message will be monitored and directed to a person with the appropriate expertise to help you. You will get a direct response back to you in your preferred method of response.

For more information on how to use this resource, go to Baby Boomer Knowledge Center
Or, go directly to @BoomerAuthority to ask your question.

Shallie Bey

Baby Boomer Entrepreneurs, Michael Gerber Says There Is A System To Create What You Don't Know How To Create (Part 3)

In Part 3 of this interview on The New Millionaire with Kean Wong, Michael Gerber continues his discussion on how to create the system to create what you don't know how to create. He shares his new thoughts on the role of dreaming as the missing ingredient that kept him from inspiring entrepreneurs to the level he wanted to inspire them.

Listen to the concept of the entrepreneur incubator. This incubator is not the incubator of your business but the incubator of your mind.

And please see our free directory of other information about Michael Gerber and the E-Myth Revisited. If you missed Parts 1 and 2 of the interview, you will find them there.

Shallie Bey
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Michael Gerber Says There Is A System To Create What You Don't Know How To Create Part 2

In Part 2 of this interview with Kean Wong of The New Millionaire, Michael Gerber takes up the issue of how to create a world class business operating system. He shares how he used that concept to build his company and to have his company train other business owners to do the same thing.

And please see our free directory of other information about Michael Gerber and the E-Myth Revisited. If you missed Part 1 of the interview, you will find it there.

Shallie Bey
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Baby Boomer Entrepreneurs, Michael Gerber Says There Is A System To Create What You Don't Know How To Create (Part 1)

Baby Boomer, as you stand before the task of creating a new business, to join the entrepreneurs, you have a problem. The problem is that you have to create something that you have never created before, a working business. Further, you have to do that and you probably don't know how. Even worse, the majority of people who have tried what you are doing have failed.

Michael Gerber says that does not have to be a problem for you. The author of the E-Myth Revisited, the man who has explained why so many small businesses fail, says there is a system that you can follow to achieve success. In an interview by Kean Wong of The New Millionaire, he begins to explain the system to you. Please take a look.

And please see our free directory of other information about Michael Gerber and the E-Myth Revisited.

Shallie Bey
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Baby Boomer Entrepreneurs Jailbreak Your Life Not Just Your Phone

Imagine you have this great new phone, with all kinds of wonderful applications. There is just one little problem, there is one important application that you need and your phone doesn't support it. Do you learn to just live with what the manufacturer gives you? Or do you have options? For many, the solution is to “Jailbreak your phone”.

Though I am very proud of my degree as an electrical engineer from Purdue University, I don't know much about jailbreaking your phone. However, there is a very interesting blog called “What Do You Know” that recently spoke to the topic. It got me to thinking about us baby boomers who want to become entrepreneurs but haven't taken the step yet. What Do You Know...about Jailbreaking Your Life?

The Pwnage Tool & Jailbreaking an IPhone is the title of the post by Robert Bockenkamp. In all fairness, I need to start out by saying that Robert does not advocate jailbreaking your phone. He points out clearly that he is only explaining to you what it is.

I, on the other hand, not only want to explain to you what jailbreaking your life is, I want to encourage and possibly even help you in taking the step. But let's begin with Robert's definitions:

Pwnage Tools is a program that facilitates the jailbreaking of an IPhone or Ipod Touch.

Technical Definition of Jailbreak: The iPhone and iPod touch hack that allow users to gain access to the entire Unix file system. In Unix terms, this refers to changing the root of the directory tree to /.

Understandable Definition of Jailbreak: A hack that gains access to areas of the iPhone or iPod Touch that users aren’t supposed to mess with. Typically, this is an immediate prelude to either installing cool programs, unlocking the handset for use with another cellular network, or both.

Through jailbreaking, you are able to add additional applications to your iPhone or iPod Touch. It allows you to do so by adding an application called Cydia (firmware 2.x) or Installer (firmware 1.1.4 and below) to your iPhone or iPod Touch. It also also modding (changing) of your iPhone/iPod Touch application icons, wallpaper, dock, status bar, chat bubbles, weather backgrounds, keyboard

On to Jailbreaking your life

So, do words like the following interest you:

• Ending the pawn age (pwnage)

• Controlling parts of your life that you aren't supposed to mess with

• Installing really cool programs into your life

• Are you tired of having to accept what is given to you?
  

Then it is probably time to begin thinking about how to Jailbreak Your Life. Many people us entrepreneurship as the tool to bring freedom into their lives.

Among baby boomers, entrepreneurship is fast becoming an alternative to the traditional retirement path. Americans aged 55 to 64 are starting businesses at a higher rate than any other age group.

But mooding, as in changing the mood of your cell phone, is also necessary for jailbreaking your life.

• You have to change your thinking, your mindset, from that of an employee to that of a business owner.

• You also have to learn new skills that might not have been used in your last job description. One of those key skills that you must introduce is how to master marketing. You can have the best product or service in the universe but you can't sell it if people don't know about it.

Plan Your Jailbreak

You can consume many resources in the process of starting your business. Let me recommend to you that you use the many free and low cost resources that are available on the Internet. I have become particularly interested in social media marketing as a free tool to help with marketing. You can find more about that at: The Secret Recipe...

http://businessrebirth.blogspot.com/2009/04/baby-boomer-entrepreneurs-use-twitter.html

I have also created for you a free resource directory at:

Join The Baby Boomer Entrepreneurs

and a video for you Baby Boomer Entrepreneurs You Need A Guide

http://www.youtube.com/watch?v=JzSVLQUTxYs

Now - Click the links and check out the resources I have for you. Make a good plan to Jailbreak Your Life!

Shallie Bey

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Baby Boomer Entrepreneurs - The Story Lady Has A Story About You

In the beginning, you were not having the life you wanted, but in the end you lived happily ever after.

If you like that story, you want to read some of the work of The Story Lady.

Quoting from her bio on Amazon:

Ronda Del Boccio unknowingly began her path to becoming The Story Lady as a tot when she invented skits and stories with her stuffed toys. She was born with an eye conditions that mean she will never drive or see "normally," so she lives every day with added challenges that she calls "speed bumps."

All her life people have opened up to her and shared their lives in the safe space she innately offers. Recognized globally as The Story Lady, she teaches authors, business owners, entrepreneurs, and visionary individuals just like you to reach your ideal customers, readers, and associates through the power of your story.

Along with Bonnie Tesh, she co-authored the inspirational book I'll Push You Steer: The Definitive Guide to Stumbling Through Life with Blinders On.

Her new book The Geometry of Success comes out soon. She is an award-winning author, transformational speaker and mentor who teaches you how to connect with anyone through the power of storytelling and live from your power.

"When you share facts, you touch a mind, but when you share your story, you touch a life. And when you touch one life, you touch at least a thousand lives." -- Ronda Del Boccio, The Story Lady.

Ronda Del Boccio tells us to serve before we sell. And that is exactly what she does on her blog

http://profitablestorytelling.com/blog/2009/03/15/the-story-lady-shares-guarded-twitter-tactics-for-business-success/

Please check her out to get the story of your happy ending.

Follow her on twitter at http://twitter.com/thestorylady

Shallie Bey

Baby Boomer Entrepreneurs - Use Twitter Secret Recipe to Develop Leads and Cashflow for Your Business

What skills do you need to develop if you plan on going into semi-retirement as a baby boomer entrepreneur? New business owners tend to suffer from lacking three skills:

• Lack of knowledge about business development
• Lack of knowledge about marketing
• Lack of knowledge about building positive cash flow

Interestingly, if you are planning on becoming a baby boomer entrepreneur, there are some shortcuts to help you with building those skills. One way is to use the highly popular social networking platform, Twitter, as a learning exercise. As you develop a marketing project on Twitter, you develop all the skills you need to design and market a larger business. It doesn't matter if that business will be on the Internet or the more traditional bricks and mortar.

If you are not familiar with Twitter, you can get a good overview at the free directory I have prepared for you Baby Boomer Entrepreneurs You Need To Know Twitter.
You will find videos and a directions that will help you understand it quickly.

Like most things that are really effective, Twitter is pretty simple. The challenge is not in how to use Twitter, but in knowing how to craft a strategy to use Twitter to develop your business skills.

Some months ago, I shared with you what internet marketing guru Ed Dale calls the Symphony In Four Parts. If you missed it, just click on the link. It points out the four parts of the symphony:

1. Market Research
2. Traffic Generation (Lead Generation)
3. Conversion (Sales)
4. Product Development and Delivery

A conservative estimate is that 95% of mistakes are made in the MARKET RESEARCH stage. This is because most people don't do the MARKET RESEARCH.

Following this universal pattern can't guarantee a success every time. The beauty is that it will help eliminate the stuff that will not work.

Whether you are doing a traditional business or an Internet business, the MARKET RESEARCH capability of the Internet opens new roads to success in starting a new business or growing an established business.

A low budget business that lets you develop the required skills is an excellent strategy as you transition from employment to business ownership. In addition to building the skills, it can help you fund the business development effort by generating cash flow.

A friend recently introduced me to a fully developed system for using Twitter, a Twitter Secret Recipe, for for building any kind of business. It pulls all the pieces together and gives you the exact recipe to follow. As you use this system to promote your followers on Twitter, you will understand how to do market research, how to develop leads, how to convert lead to build customer lists, how to use the customer list to make sales, and how to deliver your product.

By following this recipe, you will have rapid growth in your skills, an increase in your entrepreneurial mindset, and a great boost in your confidence that you can build a successful business. Please go watch the free Twitter Secret Recipe video.

Shallie Bey

Baby Boomer Entrepreneurs, What Is The Right Size For Your Business?

If your goal for being an entrepreneur is to enjoy the life style you want without having to fully retire, how big should your business be? What are some of the things you should think about?

Seth Godin recently commented that he had been doing a lot of thinking about issues of scale and units of measure. He concluded: “Many businesses that are in trouble are in trouble for a simple reason: they’re the wrong size”.

If you are the typical Baby Boomer Entrepreneur, looking for a business as an alternative to full retirement, what size fits your life goals? What are the units of measure you should consider? Here are a few to start:

• How much of your time should your business consume?
• How much of your financial resources should be invested in the business?
• How much personal cash flow should your business produce for you?
• When do you need that cash flow?
• How big a geographic scope should you serve?
• How many employees do you need to deliver on the promises you are going to make to your marketplace?
• Are you delivering a full scale system solution to your customer’s problem or a piece of the entire system?
• If you are successful, can you scale the business up and still enjoy the quality of life that is your goal?
  

The folks at Small Business Labs continued the discussion by commenting in their blog and sharing some of their research.

They observed that most industries are moving towards a barbell shaped industrial structure with a few global giants on one end and lots of small businesses on the other. Mid sized firms are being acquired by the larger firms or squeezed out.

Their second major observation was that variable cost business models allow small firms to be competitive with large firms in an increasing number of market spaces. New technologies have reduced the cost of starting and operating a business.

So, baby boomer entrepreneur, what is the answer for you? What combination of size and agility will allow you to compete in your market while still allowing you to live your desired lifestyle?

Shallie Bey

Back track URL to Seth’s post:

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Back track URL to SmallBusiness Labs:

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