Fifty is not the new 40. It’s not even the new 30. For an increasing number of Americans, 50 is the new 20, a time to decide what they want to do with the rest of their life.
Once you have identified your opportunity, here are three steps you can take to move your new venture toward success.
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Before you notice the labels at Panache Vintage & Finer Consignment in Brighton, you may notice the hats. Yet, the hats are more than decorations; they represent the incredible entrepreneur behind one of Rochester’s most unique and successful female owned boutiques: Joan Lincoln.
Published Mar. 29, 2013
Learn how to choose the best legal structure for your new business.
Limited Liability Partnership
Limited Liability Company
(This information is provided for guidance only. Competent legal accounting advice should be obtained to assist you in making a decision on form of organization)
Greg and his wife, Katie, have lived in the Dallas area for over 40 years and raised six children together. Greg and Katie each had a parent who suffered with dementia during the last years of life. In addition to being a father to six, husband, and member of the church and community for 41 years, he was also a provider, working as a corporate property and liability insurance underwriter and broker. But, the company he worked for was bought in 2009 and by March of the next year he was laid off. Greg Dodd knows firsthand what if feels like to be cast aside after working diligently and loyally for many years.
2010 became a “now or never” moment for Greg and Katie. They decided it was time to be business owners.
They were drawn to the franchise model where they could buy into a business that had procedural outlines, marketing, and proven results in other territories.
Greg and Katie Dodd joined Seniors Helping Seniors® in-home services in 2010 and are currently providing help to seniors and their families in Dallas and the surrounding area. Seniors Helping Seniors® services include companionship, light housekeeping, cooking, transportation, and assistance with personal care.
The need for such services isn’t going away. On the contrary, demand for elder services will grow with the prolongation of average life expectancy. The growth of the senior population is one of the most important demographic developments of the 21st century. By 2030, the U.S. Bureau of Census predicts one in five Americans will be seniors.
“We provide the in home help that seniors need, from people who understand them the most. Our helpers are also seniors - compassionate, active, dependable seniors, doing what they love to do. We provide a broad range of non-medical services, including assistance with personal care and medication reminders,” said Greg.
In picking a franchise network, Greg has some additional advice. “Assuming you have decided on the product or service, I'd say the philosophy, the atmosphere, and attitude are important. You want the right mix or match. Is it privately owned or a subsidiary of a global corporation? How do they select their franchisees? Trying to get someone to buy an open territory is one thing, but building a franchise network with quality people should be the goal. That is one of the things that drew us to Seniors Helping Seniors. You can learn how to do QuickBooks, but integrity, passion, people skills, and compatibility are not things easily learned. Seniors Helping Seniors does a great job of building their network with quality people.”
What Greg and Katie learned from their franchise selection journey and their own experiences with their parents helps guide the way they treat clients, clients’ families, and how they manage their business. Greg commented that it is a very rewarding business. The clients and their families undoubtedly feel that way, too.
How SCORE Helped
Greg recalled hearing through the North Dallas Chamber of Commerce about SCORE. He arranged a couple of one on one counseling sessions to glean additional insights into the target demographic, gain advice on the brand, brochure, and advertising. Greg also sharpened his skills in the areas of social media and branding by attending SCORE webinars.
When asked if he would recommend SCORE to other entrepreneurs, Greg said, “Yes, SCORE has provided some good resources. I’m a little different, being a franchise partner but branding and social media applies to everyone.”
What advice would Greg give another entrepreneur? “Evaluate yourself first. You have to be able to do something that you have the basic skills to do well, and the interest. You want to have pride of ownership in the business you build and the service you provide. Know what role you’re going to play. Are you going to start or run the business – or both? Look at the importance of the product or service, and then meet the demand. Establish your niche, be a quality provider.”
The seven Minnesota Chapters of SCORE have jointly developed a series of online on demand recorded webinars. These topics cover issues beyond what we can provide in a face-to-face workshop setting due to their use of technology and newest of the issues to new entrepreneurs. View the topics currently available.
Published Mar. 18, 2013
When Jill Konrath recognized that the crazy-busy work environment was wreaking havoc with sellers, she immersed herself in the issue until she discovered new strategies that worked. That resulted in her highly acclaimed book, SNAP Selling, which jumped to #1 on Amazon within hours of its release, joining her previous book, Selling to Big Companies, as one of the site’s most popular sales titles.
Jill has worked with large companies like IBM, GE, and Staples as well as numerous small businesses. She’s also shared her insights and ideas via TV, leading business publications, and on her website jillkonrath.com
which contains a wealth of free resources.
All customers begin as leads, but is it possible to differentiate a “good lead” from one that may have a lower chance of panning out?
Published Mar. 17, 2013
After working for more than 25 years in the publishing industry, the company I worked
for downsized and I accepted an attractive buyout package. Now I’d like to start my own
business. What do I do first?
Ross Irwin, 65, and Trivonna Irwin, 61, owners of Cabinets by Trivonna in Lacey, are living proof that learning takes place at any age.
After opening their business on the eve of the recession, the Irwins have sought the advice of SCORE and the Small Business Development Center, both providing key advice that helped them weather the recession.
Cass Cannon is an entrepreneur. She’s followed her heart—plus gone into a lot of research and training—to start her own new business, “Peg’s Salt.”
She learned about what she was getting into before jumping off the new business cliff. “A year ago I went to SCORE,” a nonprofit association of volunteer business counselors throughout the U.S. with offices in Waynesboro and Charlottesville. Then she filled out the incorporation papers online. “Doing Peg’s Salt was like a no brainer,” Cannon said.
Published Mar. 8, 2013
List of key places to go for Inofrmation about starting a business in Pennsylvania.