Encore Entrepreneurs – Halfpreneur

Start a Part Time Business Without Really Starting a Business – Direct Selling

So what if you want to start a part-time business but you don’t really want to do the work of actually starting a business. Maybe you want a business, but you are not sure you have what it takes. You think that you would enjoy selling something that you believed in, but what if you did not?

Consider joining the 15.6 million Americans who have turned to direct selling for part-time income or even as a full-time career. Why is direct selling so popular? Besides providing you with a product and training, surveys indicate that most consultants choose direct selling because it’s uniquely flexible. You can:

be your own boss
set your own hours
work around other priorities such as providing care for children or aging family members
begin with a very limited investment and it is one of the few work ventures where women earn dollar for dollar what men earn
drop out easily, if you discover that it is not for you.

Since direct selling is easy to enter and leave, it is an excellent choice for the halfpreneur that is exploring their options or the reluctant halfpreneurs – those who feel a need to start a business not because they really want to be in business but they need extra cash and/or there is some obstacle to finding another job. For instance, you only want to be in business:

to bring in some extra money to afford a vacation or to pay down some debt
because it is a flexible way of providing income while you care for family members
while you are unemployed, so there will be no gaps on your resume
for something fun to do while you ease into retirement
to meet new and interesting people

If you’re interested in finding a direct selling organization to be a part of, the best places to start are the Direct Selling Association’s website and DirectSelling411.com. http://www.directselling411.com/forms/CompanyFormPublicMembers/ provides information on the companies that sell specific products and services. Direct selling is no longer just cosmetics and vitamins. There are real estate services, educational services, home appliances, telecommunication, craft supplies, and wine – to name a few. But it is important to like the products you’re selling, and find a company that can give you a solid support system for a fast, smooth start.

For more information you can take a look at:

http://www.womansday.com/life/saving-money/9-ways-to-make-money-at-home-116635

http://companies.directsalesaid.com/

http://www.thebestbusinesstoday.com/top-direct-selling-companies-in-the-world-for-2013/

http://www.butleradvisors.com/blog/2012/10/8/7-direct-selling-companies-for-men.html

http://directsalesopportunities.net/for-men

http://work-at-home.findthebest.com/

http://directsellingnews.com/index.php/view/dsn_global_100_the_top_direct_selling_companies_in_the_world/P6#.Uf_8MY03sfg

Today Direct Selling is for those who are young

and everyone.

October 21, 2014

When I Finally Grow Up, I Will Be a Consultant!

If you are an over 50 “industry-expert” who is downsized or forced into “retirement” you may be able to turn your knowledge into dollars. Consultants make money from selling what they know. Oh yes, there are plenty of jokes about the increase in the number of consultants when the economy is poor, and yes almost anyone can claim to be a consultant. A good consultant, however, not only knows his or her subject but also has passion and a drive for excellence. Other characteristics a good consultant will possess are:

Business Acumen – understanding how a business operates, what drives decisions, and what make the industry unique.

Pragmatism – looking at solutions from all angles before designing, recommending, or implementing a solution.

Professionalism – committing to the highest standards of ethics, integrity, and confidentiality.

One can consult in almost any subject but the areas in current demand are: Accounting, Advertising, Auditing, Business, Business Writing, Career Counseling, Communications, Computer Consulting, Editorial Services, Executive Search, Gardening, Grant Writing, Human Resources, Insurance, Marketing, Payroll Management, Public Relations, Publishing, Taxes, Writing Services.

If you are indeed qualified by your experience and expertise to be a consultant, some other things to consider before getting out your Rolodex and hanging your sign include asking yourself…..

Are there any certifications or special licensing I will need? In some states professional fund raisers must be registered with the state before beginning your business. The National Society of Fund Raising Executives offers a certification, however it is not required for consultants to have this certification. If you thinking about becoming a computer consultant, regardless of your skills, some potential clients may want to see a collection of Microsoft certifications.

Do I like to network ? Networking is essential to the success of any type of consultant business. Begin building your network of contacts immediately.

Am I organized enough to be a consultant? Not only must you organize the data you collect or are given, you must have excellent time management skills, and an ability to organize your day.

If being the expert and solving a client’s problems is appealing, here are some steps to help you get started.

1. Renew old acquaintances and refresh your recent contacts in your chosen industry. This might even include contacting the company that downsized or “retired” you to see if they use former employees as consultants.

2. Write out your mission statement of what you intend to help your customers achieve with your consulting help. Keep it under 25 words!

3. Go through your files and look for letters of commendation, awards, etc. Contact friendly outsiders who have expressed a willingness to write testimonials in your behalf.

4. Examine any special insurance, bonding, etc. you will need in your chosen field, such as errors and omissions insurance. Find vendors and get cost quotes.

5. Decide on a business name and get a professionally-designed logo. If you are on a tight budget, you can get matching business cards, letterhead, and envelopes through online sites. Consider: Zazzle.com, vistaprint, US.moo.com.

6. Create a website that is simple in construction and professional in appearance. You can customize a template offered by a web hosting company, use software such as Dreamweaver or MS FrontPage, or find a local developer to work with.

7. Decide if you will need a one-page Letter of Agreement or will need an extensive contract to conduct your business. If you will need a formal contract, find a local business attorney to work with.

February 4, 2014

A Few Tips for Those Who Are Reluctantly Considering Becoming Entrepreneurs

Are you a Reluctant Halfpreneur? You’ve never wanted to start your own business. You like working for someone else. There are benefits, a stable paycheck, and people who you enjoy working with. Start your own business! No way!

Then …… Management changed and your position changed too, and not for the better. Perhaps you are a parent and you have lost the flexibility to come in early so you can leave early for your children’s sporting events. Or, the handwriting is on the wall – your job or your whole company is at risk and local opportunities for someone with your skill set are nil. Or you thought that your career was secure for the next 5, 10, 15 years, but now you are over 55 and out of work. The odds of finding another comparable position in your field are slim. Not impossible, but all the government and business statistics warn that it will take you much longer to find a job than it will for a 40 year old. Part-time at fast food service or retail sales is not what you have in mind when your unemployment compensation runs out.

If your experience does not immediately translate into something you can start your own business in and it is important to you that you work at something professional, with a potential for good pay, and offers the opportunity to interact with interesting people, where do you look for ideas. There are some career and life coaches that specialize in working with individuals in the position that you find yourself and be able to help you find your passion. Before going the coaching route, here are two more reasonably priced options.

Look over the catalogs for your local colleges, especially community colleges. Take a look at what is being offered in certificate programs and in their noncredit programs. These offerings will indicate what may be in demand in your community. You may want to earn a certificate or take a course or maybe you have the background to make the transition into this new field. Employment or self-employment in this new field may be possible.

Visit http://www.entrepreneurbookstore.com. They sell two types of books: kits to help you start your own business that generally cost $69 and start-up books that retail around $18 – $22. The kits have business forms and worksheets and walk you through the entire planning process. The start-up books have plenty of information about the business and how to start it, but not the forms. If you are exploring your possibilities, the books are helpful. I purchased one recently thinking that it represented an area I could expand my current business into. Well, I could go that route, but I discovered that there were many aspects of this new business venture that would not be a good fit with my current life style. I got some ideas I might use so it was $19.99 well spent.

Since Entrepreneur Press is the publisher (my only affiliation with Entrepreneur magazine is that I subscribe to it) many of the kits and start-up books are appropriate for those with a professional or administrative background. Title include: Public Relations, Event Planning, Consulting, Freight Brokerage, Tutoring and Test Preparation, Executive Recruiting, Staffing, Online education, Import- Export, Home Inspection, College Planning Consultant.

If more than one idea interests you, research it further – interview someone who does this type of work; research your local market; talk to the former executives who staff your local SCORE office or visit or agencies (at colleges, Chamber of Commerce, Small Business Bureau) that assist those starting new businesses. Can’t narrow down your choices – a career coach or Profiting from Your Passions coach can help. Need guidance in setting up a business – consider a new business coach.

January 30, 2014

Retire or Re-tire

For the past several years, I have thought that it was the baby-boomers, now that they are approaching retirement age, who had a problem with the word and concept, “retirement.” Recently while cleaning out bookshelves, I found a vintage book, Paths to Power, from the early days of women’s studies programs. First published in 1980, Natasha Josefowitz ended her book with a chapter titled “Re-tire to Re-start.” She briefly began with the necessity to plan your retirement, if that is what you wanted to do and her planning advice concerned not only finances, but exercise, nutrition, using your talents, and keeping your mind active. As for retirement she admitted it could be wonderful if you were using this time period to START something, rather than STOP. The remainder of the chapter focused on your other option – Re-tire!

Re-tire – put some new tires on the old car to make it run like new. Then roll along or bump along depending on what new roads you decide to travel. With your experience, she suggested that it may be time to consult, teach, or counsel (the coaching field had not been invented yet) or write. But if the re-tired vehicle was looking for a more exciting trek, entrepreneurship was among her suggestions.

Seems at least some of us read about reinventing retirement thirty years ago and promptly forgot about it. But the seeds were sown. Maybe this is why Profiting from Passions Coaching (R) is one of my encore careers.

Originally published in my blog: Reinvent Retirement Jan. 2011

September 30, 2013

Entrepreneurial Ideas for Boomers and Others

In my last post, I mentioned that one thing that the Boomers had not questioned was the concept of work and employment.

This is perhaps because during the last 60 years, we have transitioned from the Industrial or Manufacturing Age into the Post Industrial or Information Age. The industrial world of their parents and the one they might have entered was not the demanding, dangerous Industrial Age but the end of the era when many workers had secure jobs for their entire work lives.

A job in this not so long ago age, was defined as continuous long-term employment with an organization that provided a regular salary, health benefits, a pension plan and the assurance of a continuing need for the worker’s skills. This relationship between employers and individuals was called “the social contract.” Basically it meant that an employer in return for the good service and productivity of an employee, offered lifetime employment with an inherent potential for promotion, regular increases in salary, a good fringe benefit plan and an assured retirement package. It was a given that the organization that offered employment was stable and would be around “forever.”

Since the 1980s corporate America has dramatically altered the context of work and the “social contract” is a relationship of the past. The Information Age (or PostIndustrial Age) is defined by the ease and rapidity of worldwide communication. Wireless communication, computer networks, the World Wide Web make almost instantaneous communication possible.

Manufacturing still occurs even in the US, but it is driven by computer technologies including robotics and nanotechnologies. The stability and long-term endurance of companies is no longer a given. Even profitable, highly regarded organizations can be sold or merged.

If you are over 50, you may remember the “olden days.” If you are over 60, you may have begun your work life expecting the continuance of the “social contract” or a hybrid version of it where employers honored the “social contract” but employees, especially early in their careers, would change jobs several times before settling into a good job and a good company.

So we are now in the 21^st century looking for meaning in our work in a work world characterized by: a reduced workforce due to downsizing, a reduced workforce due to outsourcing, a reduced workforce due to automation and robotization, increased customization, increased hiring of temporary employees, a increasingly diverse workforce, globalization, fewer corporations, long-distance collaboration, an emphasis of skills not job titles, and an increased need for continuing education.

As Stephen R. Covey describes it …..

“We live in a new economy that is moving from the Industrial Age, top-down, command-and-control, hierarchical model to the Knowledge Worker Age of empowerment and courage and creativity. We also live at a difficult recessionary time, but that does not mean we a fundamentally a product of our environment. We are not victims of circumstances. We are the creative force of our own lives.

Unfortunately I do not think most of us were raised to think creatively about the economy and the role that we play in the economy. I sense a longing in many of my clients for the so-called good old days when everyone knew where they fit-in in often paternalistic corporations. In an evolving, creative, empowering, what are we supposed to do era, what are our new roles? Will we hold a job or be an entrepreneur or some combination of both?”

With a job loss after age 50, an individual can wait and hope that they will find employment in their field. Many become underemployed taking jobs in retail and telemarketing, Some cannot find work and live off their savings and spouse’s income. Some enthusiastically become the entrepreneurs they always wanted to be while others reluctantly begin to look at their entrepreneurial options.

By age 50, your employment, your leisure time, and your everyday life have given you a wide variety of skills and expertise. To identify potential areas of self-employments, I would interview a reluctant entrepreneur about their skills and expertise.

Here are some questions I might put to them if they are searching for business ideas and a niche.

What opportunities in the market place did you last employer seem to be missing? EG: parts for older models, refurbishing equipment, custom orders
What skills can you sell as a freelancer? EG: project management, website design, accounting, computer programming
Do you have the knowledge and experience to buy out an existing business? EG: gift shop, home security installation, photography studio, print framing shop
Do you have a manual skill that others would pay for? EG: laminate and hardwood floor installation, stained glass design and installation, bricklaying
Do you have a hobby product you can offer as a business? EG: knit goods, jewelry, customized wooden signs, Christmas decorations
Do you have friends who rave about your cooking or baking? EG: ethnic deserts, chocolate specialties, wedding cakes, catering for small groups, pre-cooked meals
Can you sell your talent in a sport? EG: canoeing/kayaking trips, running soccer or tennis camps
Do you possess talent in graphic or fine arts design? EG: Designing websites, designing logos, custom painting clothing or shoes.
Is there a service you need personally but cannot find? EG: taking children to after school activities, driving elderly relatives to doctor’s appointments, locating pieces of silverware or china
Can you provide a product or service your friends can’t find? EG: pet sitter, home delivery of live seafood, genealogical research
Do you do something as a volunteer that others would pay for? EG: teach ESL, transport elderly shopping or to medical visits, visit elder who are home-bound
Do you have experience in importing or exporting? EG: used machinery to India and other countries, scientific equipment to Eastern Europe, craft items from Africa, Asia, Central and South America
What knowledge do you have that you can put into a special report or book? EG: internet marketing, raising a child with ADHD, foreign travel with children
Are you experienced and talented in teaching or training? EG: English or foreign languages, music, job social skills, negotiation and mediation
Do you have experience in “New Age” disciplines or alternative health practices? EG: Tapping (EFT), Reiki, Reflexology, Fung Shui, card reading, past life regression analysis

August 3, 2013

Encore Entrepreneur vs. Encore Entrepreneur

Approximately 25 million Americans between the ages of 44 and 70 are interested in starting new businesses or nonprofits in the next five to ten years. According to the U.S. Small Business Association, 15 percent of workers between the ages of 50 to 64 are self-employed, and that figure increases to 25 percent when considering entrepreneurs who are 65 and older. A 2010 survey by the Kauffman Foundation found that Americans 55 to 64 start business ventures at a higher rate than any other age group. In 1996 approximately 14 percent of 55 to 64 year olds were entrepreneurs, now almost half the working members of this age group have started their own businesses.

Ken Haley

So what do we call these older, new entrepreneurs? The press, book authors, academics love to label people! They sometimes call them boomer entrepreneurs and they are now also calling them encore entrepreneurs.

Boomer entrepreneur is obvious. Encore entrepreneur? It’s time to enter a fuzzy, new stage of life – the encore years and the accompanying encore career. This new stage of life can begin anytime after 40 and can last well past 70.

Marc Freedman has popularized the idea in his books Encore and The Big Shift, in which an encore career means a new second career that an individual would feel good about, and would use their experience in a meaningful way to improve the quality of life in his or her community. Marci Alboher in The Encore Career Handbook concurs with this concept of an encore career.

Using their books and definition, an encore entrepreneur then would also be a social entrepreneur. Social entrepreneurship is defined as using entrepreneurial techniques to achieve social change. It includes nonprofits and for-profits businesses with a social purpose. By this definition, all those 55 -64 years of age who start businesses that do not include a social purpose and improving the quality of the greater community are not encore entrepreneurs. Boomer entrepreneurs, yes, but not encore entrepreneurs.

So much for definitions. The popular press is calling older entrepreneurs, encore entrepreneurs. If someone is making a transition to being an entrepreneur after the age of 50, the author of this blog also considers them to be an encore entrepreneur. My guess is that any older entrepreneur is starting their business for profit as well as to do something that brings them meaning and pleasure.

Two examples!

Example 1

Feather a Bee - photo on a Ken Haley cell phone case — Feather a Bee – photo on a Ken Haley cell phone case

Channel 9 in Eugene Oregon considers photographer Ken Haley to be an encore entrepreneur. Ken does incredible nature photography, but he is not a social entrepreneur. He hopes his photographs will inspire a response and if they sell, that’s a plus. He sells cards, posters, prints, and cell phone cases. His work can be found at http://www.redbubble.com/people/kensabe

Example 2

Judi Townsend-Henderson became an encore entrepreneur in her mid-40s, creating a mannequin recycling business. Her recycling business is credited with saving 100,000 pounds of mannequins from landfills in a single year. Learn more at http://mannequinmadness.com/.

I will be using both terms. If you are over 50, look for blog posts on Encore Entrepreneurs, Boomer Entrepreneurs, and their half-time variation – halfpreneur.

July 22, 2013

Category: Encore Entrepreneurs