A decade ago, I cheerfully plunged into the second half of my first century on this terrestrial plane. I used to view anyone over the age of 30 as “old.” Today, my more than 60-year-old eyes see very little age difference between myself and my 80-year old parents.While I have the good fortune to be self-employed, I see more and more baby boomers being displaced from the work force. Downsized, right-sized, fired, bumped, replaced, early retired, bought out, kicked out or given the hairy handshake (not many folks seem to get the golden handshake anymore). A slap on the butt and it’s out into the big world.
What do you do with an unemployed baby boomer? I had a fascinating chat with a friend recently who is in his mid-fifties and is competing for a number of management level jobs after 25 years in business for himself and a one year sabbatical. After reaching the very short-list and losing a few major competitions, his question was, “Does age count?” Continue reading Age or Attitude
Too often, business owners who get into trouble don’t even know they’re insolvent until the landlord puts a lock on the door.
Once an entrepreneur makes a success of one business, there’s a dangerous tendency to think he can duplicate his efforts in another business, and then another, and another. Spreading yourself and your resources over a number of ventures can impair your ability to deal with financial and other challenges. Aside from stretching finances, getting pulled in too many directions can deplete a business owner’s time and energy, making it difficult to maintain the core business that brought about the initial success.
After coaching many people through the eye of the business planning needle, I’m intrigued and bewildered by the gap between “what business planning is” and “what people seem to think it is.” Time and again I see intelligent people going to great lengths to avoid business planning when it’s exactly what they need to navigate the complexities of start-up.