After55:

Today I ran into Lu Herbold, owner of the Caroline Carlson & Associates showroom at Chicago’s Merchandise Mart.  You might have heard that people just aren’t spending money for gift items such as her firm represents.  You know, the economy is awful, no credit available, unemployment is high.  Heard about that?  I asked Lu how things were going.  Her response?  “Just fine.”  Pressed, she said  that while sales are not at their peak, her lines are doing “just fine” because she and her reps don’t use all the negativity as an excuse not to work like crazy and make sales happen.  She said she isn’t particularly interested in talking with the naysayers; she prefers to work hard, keep in touch and do her level best to make things happen . . . and they do.

Wouldn’t your business do better if you followed Lu’s example?  Try it for 30 days and let me know.  I bet you’ll be pleasantly surprised!  Thanks, Lu!

It seems I am seeing a lot about creativity lately.  Perhaps it is because of the economic mess.  We have all been encouraged to be “creative” about how we can do business for less, get our message out and meet market needs.  Some have asked what it takes to be truly creative and have gone in search of enlightenment through books, internet and lectures.  I think it takes very few “things” to be creative: curiosity and questions.

Curiosity opens our minds to new ideas and people.  Just because I own a web-based business for women over 55 doesn’t mean that is what I read about exclusively.  I read about fashion, decorating, architecture, travel, technology, cars, inventions, business, fiction AND almost all the books my grandchildren read so I will know what they are thinking about.  From this love affair with the written word I have “met” many of the fascinating women on my site, many of the fascinating women I have written about in my After 55 column or in these blog entries and have had more darn fun connecting with people at gatherings and being able to keep up my end of the conversation.  You know that these conversations lead to . . . who knows where?

Questions expand horizons.  Take a look at every part of your business and ask, “Why do I do it this way?  Is there a different/better way? What would be best for my client?”  If you take this step seriously, you may find some surprising answers.  You may not want to continue a product or process.  You may find a much better way of being useful to your client. You may discover a new profit center.

Being creative doesn’t require anything more than a curious mind, good questions, and pencil and paper.  Oh, the places you will go! — Thank you, Dr. Seuss!

Months and months ago I wrote about the importance of getting out of our work space.  This has been on my mind lately because I seem to be spending hours in front of my laptop by choice, not necessarily by necessity, so I think it’s a good time to revisit the topic.  As the days are getting shorter and here, outside of Chicago, the temperature is starting to drop, it can be a much bigger challenge to get out of the house.  The lure of a warm house, cozy bed, handy cup of coffee or tea is very strong, but the potential benefits of going out, meeting new people and hearing different voices and ideas are simply incalculable.

Just last week, I went to a noon lunch and learn featuring a local movie critic.  I am not a movie fanatic like my husband, but I simply needed to get out of the house.  Wow!  It turned out that it was hosted by the library, and I made two new community contacts there. The informal talk wasn’t about movies. It was about the changing face of movie reviews and how he is responding by taking his work to the internet and his own website, the place of YouTube and his challenges in connecting with his followers.  Now this was far more interesting to me than I expected and I got some new ideas, contacts and a delicious lunch at a restaurant I had never visited.  When I say, “Get out!” I truly have your best interests in mind; I’m not being crabby.

In the best of times, being an After 55 entrepreneur has its challenges. We sometimes forget to set aside time to replenish our well of positive information and encouragement. There are excellent newsletters on every topic, and we don’t want to spend our precious time plowing through our inbox. Yet here are two newsletters I read pretty thoroughly each week. Sales Caffeine by Jeffery Gitomer and Tips for Extraordinary Living by Phil Humbert

See if they appeal to you–and let me know which ones you read . . . I’m always looking for good, positive information!

This week my husband and I spent three days in Denver, a city neither of us had spent any appreciable time exploring before.  Naturally I had my laptop in tow, but I made it a point to do only what must be done so this could count as a vacation.  We toured art museums, the quilt exhibit at the state capitol, took a ride on the light rail system, and met new friends.  Why am I boring you with a mini-travelogue?  Because I learned a lot and was reminded of even more — I bet this will happen to you too if you leave your familiar surroundings for even a few hours.

1. The awesome service at the Oxford House reminded me that excellent service provided with personality draws rave reviews and referralse.  I have already recommended the hotel to three people and written a rave review on their behalf.
2. Being open to meeting others enriches your daily experience.  We got to talking to the couple seated next to us at brunch on Monday (killer restaurant #1: Snooze!) and learned of a great place for dinner (killer restaurant #2: Fruition) and learned of two excellent film festivals we didn’t know about.
3. Expanded horizons.  At the Museum of Contemporary Art Denver we saw an exhibit on wind turbines that has expanded my interest in renewable energy and that will undoubtedly enrich my website SilverVixens. Because of the installation of another exhibit we learned of a totally different way of displaying art — even if we never use it, our perception was changed.
4. I read different things. I am an admitted magazine junkie.  This week I had time to read Real Simple thoroughly and there was an article about unitasking — forget multitasking!  The author was writing about something I have been thinking alot about lately…but that’s for next week!

Plan for 2010!  As After 55 entrepreneurs, we are up to our ears in the daily stuff of our businesses, fitting in summer family visits and making sure the garden looks great not just for ourselves but for the neighbors that we rarely take the time to look six months ahead.  Well, ladies, today is the day.

What do you want your business to do in January?  Still be standing is not the complete answer.  Between now and January that will be your task–keep your baby healthy and growing. But what do you want to be able to start doing the first week in January 2010?  Now block out the tasks and systems that will get you there.  Good news!  You can do some of this planning while gardening and definitely put a game plan together on your morning walk.

I have my walking shoes on right now–gotta go!

I just was connected to Sharon Pinder of The Pinder Group.  She’s one of us–started her last two businesses After 55, in addition to teaching an online course for University of Maryland University College on “Women as Entrepreneurs.”  She is a clear thinker with lots of experience, and I asked her to give me three points she teaches her students about being entrepreneurs.  Here they are–if you want to learn more about Sharon or her course, click the links!

1. Access to opportunity: Is age, gender or race a factor? How can you maximize those factors to your benefit?
2. Access to capital:  Make sure your business is well-capitalized and know where you will get the capital.
3. Be knowledgeable about being an entrepreneur: Know what it takes to start, build and grow a business.  Work FOR your business, not IN it!

Good points, Sharon!  Too many times we just start on a whim because we have read about some super-successful person who did . . . probably if we scratched the surface, we would find a different story. There are no born entrepreneurs–there are successful entrepreneurs who have succeeded because of Sharon’s pointers.

Gail Golden of Gail Golden Consulting, a good friend of mine, says this about networking: “Networking is not about going out and asking favors, it is about going out and doing favors.  Going out and asking favors is panhandling.”  Wow!  Isn’t that true?  How many times have you been at a networking event and met someone who could only talk about themselves and try to figure out how you two could work together to their advantage?  Probably several times.

Wise salespeople know that selling is about finding a need and filling it. Networking is about finding a need and offering to help find a solution. People will always be glad to see you coming, you will build up enormous good will, you will learn a lot from a lot of people, and you will have more fun!  Networking isn’t working–it’s meeting new potential friends and increasing your knowledge base–sometimes with yummy muchies, too!  Go forth and network!

The current wisdom among economists and pundits is that this current recession/downturn will last another six to 18 months.  Rather wide range, isn’t it?  With this piece of knowledge, what are you doing to ensure that your business will be around?  Are you looking for new applications for your products or services?

A friend of mine’s market research business has been very hard hit; she is now using the research skills she has honed over the years to do forensic research on companies and products.  Same skills, different focus–and the possibility of weathering the storm.  Keep thinking of new ways to offer your products, reposition your products and solve customers’ problems in new ways.  Your most important product is between your ears–THINK!

One the lighter side —

“Then remember the story of the poor farmer who lost his crops to a drought, battled disease in his cattle and watched his barn go up in flames after being hit by lightning. Somehow, he maintained his pleasant disposition and sense of humor. How did he stand it, his neighbors wondered.

“Well, it’s like this,” the farmer said. “In the Bible, it says, ‘It came to pass.’ But it never says ‘It came to stay.’ ”

Mackay’s Moral: Your biggest worry should be that you are worrying too much.
– Harvey Mackay

“You don’t have to put an age limit on your dreams.”
–Dara Torres, 2008 Olympic champion

Oh, how right she is! Torres again competed at the 2008 Olympics at age 41 and won! I am always reminded of the woman who wanted to go to med school when she was 40 and was afraid she was too old to start at that age. A friend told her that in seven years she could either be a 47-year-old or she could be a 47-year-old doctor. Fortunately she chose Door No. 2.

Just think! You could be a 55- or 61- or 70-year-old successful entrepreneur–with many years left to enjoy your business. Age has little to do with running a business–get started . . . NOW!

When Pat Henriques started her corporate relocation service, she knew that the important components of a successful corporate move were organization, a solid plan and strong communication with the client.  Doesn’t sound like rocket science, does it?  How many times have you had questions about a large project you were heading–corporate organization to redoing your kitchen–only to lack a firm grasp of the schedule and work progression, yet you had trouble contacting your point person?  Now you understand what Pat brought to the table.  Her experience managing a law firm taught her volumes about precision, accountability and anticipating needs in a stressful environment.  She didn’t need to reinvent the wheel; she made sure the wheel  moved smoothly.

A good place to start thinking about a business is: “What can I do just a little bit better?”

“Innovation distinguishes between a leader and a follower.”
–Steve Jobs

As we start the journey of exploring ways to replenish our retirement (and day- to-day) accounts through entrepreneurship, let’s look at this quote.  What business should you start? Here’s one idea. How many times have you struggled with getting something done and thought there has to be a better way to do this? If you’re like me, it’s not a rare occurence. Probably one of those “burrs in your saddle” bothers you more than others.  Your assignment is to identify one item or process you think can be done better and give some serious thought to exactly how to make it better.  You’re on your way to innovation!  As always, keep in touch.