Life Begins After 50 – taking back control of your life
By Ron Finklestein, Business Growth Facilitator, Akron LIVING WELL Magazine
Many people over 50 are starting their own business. Recent surveys of Americans 50 and over indicate the vast majority of people want to work after “retirement.” A growing number find attractive the sense of independence and fulfillment that comes from doing work they really enjoy in their own businesses.
Other reasons this age group embrace business ownership is the appeal of having more control over their job, their life and their income. If you ever lost a job or want more control over your time, energy, and money then you know what I mean. The bad news is that over a five-year period 95% of new businesses fail. The most common causes of failure include: Not pricing properly, being overly optimistic about sales, not recognizing or ignoring-what they don’t do well and not seeking help from those who do, ineffective prioritization, minimizing the importance of marketing and insufficient business experience.
The good news is that these problems can be prevented or minimized with the right help from the right individual or company. If you lack business experience, there are hundreds of low-cost business opportunities available you can buy into that have the support designed to overcome the challenges discussed above.
If you have an existing product or service to sell or business to grow, surrounding yourself with trusted advisors will go a long way to reducing your risk. No matter how good you are, no one person can know it all. Large companies rely on a “board of directors” to provide feedback, hold the president accountable and help clear away obstacles. Every business owner needs a trusted board of advisors to help navigate the difficult issues associated with being a small business owner. Do yourself a favor: don’t try to go it alone. Find help, listen to that help and utilize that help to address the hard-to-handle issues you face. This will reduce your learning curve and keep you focused on the desired results: SUCCESS.
If you have a business or are thinking about starting a new business, call me. We can help you through the pitfalls of being a business owner and help you avoid the obstacles during start up. Contact Ron Finklestein, business growth facilitator at 330-990-0788. email@example.com , www.businessgrowthexperience.com.