Managing Your Business Archives
I’ve written before about the many advantages that older entrepreneurs have when it comes to starting a business. Specifically, I argued that our empathy, connections, experience and resources make us a force to be reckoned with. At the same time, there are more tactical reasons that entrepreneurs over the age of 50 hold all the cards. As just one small example – we know how to write!
When it comes to starting a business, is it better to focus on quantity or quality? Should you try a lot of things and be ready to “pivot”? Or, should you focus on building a single “perfect” product that you can be truly proud of? This is not a trivial question. In fact, based on the conversations that I have had with other entrepreneurs over 50, this one choice can make the difference between start-up success and business failure. To explain why, I’ll need to take you back to school – to art school to be exact.
In late 2013, my business was in trouble. Sixty and Me, which started as a Facebook community was experiencing a drop in organic traffic. For the better part of a year, we had been able to count on cheap, high-quality traffic to keep our website visitors growing. Suddenly, as Facebook shifted its own strategy from growth to monetization, our momentum had stalled. Like many entrepreneurs, I learned the hard way that, if you don’t own your list, you don’t have control over your company’s future.
Over the last few weeks, I’ve been spending a lot of time researching potential interviewees for my new upcoming Profit After 50 podcast. On the one hand, the process has gone better than I expected. You guys are doing so many amazing things after 50 that I already have a list of almost 100 entrepreneurs that I want to interview. On the other hand, I was struck by how badly many older entrepreneurs are presenting themselves online. At times, I felt like I had been transported back to 1995, when email was a novelty and Amazon.com was the new kid on the block. As a community, we can do better.
What if I told you that there was a simple way to boost your energy, generate business ideas faster, keep your brain healthy, increase your confidence and reduce your stress? Would you be interested? No, I’m not talking about a new $1000 motivation course or nutritional supplement. I’m talking about exercise.
Of course, it’s no secret that exercise can have a positive impact on your productivity at any age, so, why talk about it here? Because, while younger entrepreneurs may experience “significant” benefits from exercise, older entrepreneurs describe the effects of regular exercise as “life-changing” and “profound.”
It’s no secret that new business owners need to wear a lot of hats. Your company may specialize in producing the world’s best organic superfood smoothies, but, your own role will include marketing, operations, finance, product development and much more. To make matters worse, each activity that we are asked to perform is represented by specialists who have a vested interest in keeping things complicated. After all, if we get frustrated and give up, they will be more than happy to help – for a fee. Nowhere is this truer than in the world of SEO (search engine optimization).