|Small Business Information|
The 5 Traits of Baby Boomer Business Owners
As a practitioner and student of Small Business Marketing, I was recently contemplating ways to enhance my business. I found it fascinating to realize that over 95% of my customers and hot prospects were Baby Boomer's who own a small business.
With this group identified as my target demographic, it was important to understand them better. Who are these people? What attracted them to me? How can I work with them most effectively? I found the following five characteristics common among this growing group of women and men.
1.) These individuals often held high positions in the corporate or business world. Many were downsized or laid-off after a sale or merger. Some lost their position after a business failure. Others could no longer tolerate the dissatisfaction in their life and career. Their experiences have created the need to establish comfort and trust before doing business.
2.) During the mid 80's, the Baby Boomer's began to desire a deeper awareness of life's meaning. They found information that "felt right" and embedded a spiritual understanding in the fabric of their life. This understanding drives them today. As a result, the people and businesses they deal with must feel right before a commitment will be made to explore new ideas.
3.) Their prevailing goal and dream is to experience ultimate comfort and success without sacrificing personal freedom. Many are discovering security in the multiple streams of income concept and are open to fusion marketing. They want the time and money to enjoy leisure, travel and a high quality of life with family and friends. If these goals have not been achieved, Baby Boomer Business Owners will continuously seek new ideas and avenues to reach them.
4.) They are too vital to ever retire and are dedicated to their dreams.
Their options are: a). Sell an existing business for a huge profit. That profit is reinvested in a unique enterprise based on a personal dream or talent they can enjoy throughout life.
b). Feeling "unemployable", they realize they have no choice but to develop a business based on past experiences and/or a passion or talent they already possess. Many are first time entrepreneurs with limited small business knowledge or resources.
5.) This enthusiastic group has a heartfelt desire to help others and make a positive contribution to the world. A sense of purpose, authenticity and integrity are significant driving factors to this group as a whole.
Baby Boomer Business Owners require easily understood systems for success. They are seeking Universal principals that guide both business and personal growth. Helping this dynamic, rapidly growing demographic achieve the lifestyle they desire, through entrepreneurial efforts, will create a business future bright with possibilities.
"When you stop seeing life as an adventure and journey, your vision becomes clouded with limitations instead of cleared by unlimited possibilities." ? Bill Gluth
Bill Gluth is the first small business strategist to specialize in creative business strategy training for Baby Boomer Business Owners.
Since starting Develop Your Vision in 2001, Bill has helped business owners achieve balance, satisfaction and profit with freedom by understanding the unique "vision" that sets one business apart from their competition.
Bill teaches strategies that turn dreams and goals into accomplishments by successfully reaching tightly defined niche markets using creative, Human Touch ideas and methods.
The Role of the Business Model and Strategy for Business
People will always stress that having a well researched business plan is key before you start your business. Although creating a business plan is often an important step in the evolution of a business, particularly if you need financing or you are not experienced at running a business, it is not necessarily the essential first step. There are two key elements that should be completed prior to the business plan:
Going Public: The Process for Small and Mid-size Companies to Go Public
It's the dream of every person who starts a business to some day see it trading in one of the stock exchanges even after they are no longer associated with the company. The first step (#1) is simple since most small company are already incorporated and have a board of directors, so we will start with #2.
How to be Annoyed and Make Money
When do annoyances in a relationship become too much to bear?
Learning and Growing
As you reflect on this year and prepare for next year, what are the lessons you have learned in business and how do you plan to use those lessons to grow your business in the year ahead?
Wichita KS; Anything is Possible in Wichita Business
Just when the entire state was kissing Wichita goodbye, economically speaking, they turn around their economy like a hammer-head stall. The BTK is caught and has gone away and the Aircraft Industry has decided to stay. Last year 40% of all the aircraft in the world were made in Wichita and instead of losing market share they are gaining ground on the other aerospace manufacturing cities in the United States and around the world.
Franchises Offer Shortcuts, But Not Control
Q: I will be retiring this year at age 60 and intend to fulfill my lifelong dream of owning my own business. I'm too old to start from scratch, so I'm looking at several franchise opportunities, including fast food, auto parts, and an accounting service. What should I consider before choosing one? Anthony R.
Not Listening Can Hurt Your Small Business
Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they're talking about. But they can only benefit from the sound counsel if they listen to the expert's guidance. Unfortunately, there are some entrepreneurs who aren't going to hear the professionals out or follow a plan no matter what. At that point, experts realize that they might as well save their breath and hope that the business owner will eventually see the error of their ways before it's too late.
Do You Microbifer in Your Cleaning Business?
Microfiber cleaning towels have been around for about ten years now. When I first heard about them they were being sold through distributors in an MLM business. Since my business was professional house cleaning, I couldn't see how they could benefit me due to the high cost.
Power Tools for Business
How do we keep track of our business deals?
Is This The Way Its Always Been Done?
Let's face it, we all tend to get stuck in doing things 'the way they've always been done', and creating products, or services, in a similarly conservative mode.
Small Businesses You Can Start in Automotive
There are many choices when thinking about a small business involving your favorite hobby, cars. What about a Mobile detailing franchise? Yes they too are available. As a matter of fact there are many such choices and each is a little different let me explain.
A Key to Success: Be Consistent
Over the years I heard the best way to learn something is to to teach it. Well, this week's topic, practicing consistent behavior, is definitely something I need to learn and practice more effectively.
Launching your Business with a Chamber of Commerce
Why are Chambers a good launching pad?
The Care and Feeding of Your Small Business
While I was hard at work last week, an everyday drama was playing out in a hospital room in the next town. My niece was working on presenting me with a new great nephew. Tyler James came into the world Thursday afternoon, mother and child are both doing well. Naturally, I am able to discern at this early stage that the child is adorably cute, remarkably bright, and very advanced for his age. Takes after his Great Aunt, I'm sure.
Incorporating a Small Business: S corporations versus C corporations
If you've been considering incorporating your small business, you've probably been confused about the difference between S and C corporations.
Finding a Venture Capital Firm
Many ventures are faced with the challenging task of raising venture capital. The first part of this process is finding the right venture capital firm (VC). While this may seem simple, it isn't. There are thousands of venture capital firms in the United States alone, and going after the wrong ones is one of the most common reasons why companies fail to raise the capital they need.
Collection Agency Selection
Frankly, given the legal and regulatory requirements involved in attempting to collect a debt, it makes as much sense to do it yourself as it does to try to remove your own appendix. A collection agency is, on the whole, much cheaper than a doctors - and lawyers. Do yourself a favor and let a professional collection agency handle this complex matter for you.
Smart PR Tactics for Small Businesses
Small businesses need Public Relations, possibly more than large corporations, to put them on the map. If you consider that time is money, however, you may find that handling your own public relations is a daunting task and not necessarily worth the monetary savings. Here are some ideas of how to get the best bang for your PR buck by thoughtful outsourcing:
Small Business 101: Deadly Ignorance
American small business is again in transition. Many employees, now working from home, are no longer tied to a geographic office and the woes of commuting. This is a relatively new phenomenon with hints of explosive sector growth in the days ahead. As this turbulent economy has forced downsizing, offshore restructuring and closures in large companies, many new entrepreneurs have been born. These are people, who instead of tirelessly attempting to find new employment and possibly enduring the same fate as previously experienced, are now starting small businesses and enjoying the benefits and perils of self-employment.
The Key to Small Business Growth? Buyer Alignment
Unfortunately for all buyers, each selling organization and their individual sales professionals are unique and often require immense amounts of energy to build a relationship with. This keeps buyers guessing, which in turn keeps the sales organization guessing. It's a constant game being played out across offices across the country.
|home | site map|