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"This little gem of a book offers sage advice..." 
Fred Brock
The New York Times

Too Young to Retire, the perfect retirement gift for those who aren't calling it quits, is available where
books are sold.

Launching A Business

If the idea of launching your own business after years of working for someone else makes you salivate, welcome to the club.  Sure, young entrepreneurs get a lot of media attention, but a significant and growing number of newly hatched entrepreneurs are in your cohort: 50 and older, with a good idea they are burning to try out, a lot of life/work experience, and even some ready cash -- perhaps from a downsizing package or a mortgage-free dwelling.   

It's a huge and evolving subject, but here are some tips and ideas to prime the pump.  If you have ideas to contribute about novel new businesses, fire away.  Just drop a line to marika@2young2retire.com. 

Beside some fire in the belly and cash, what we all need as entrepreneurs is help from experienced business people who can mentor us through the startup process and direct us to other appropriate sources for information.  

Small Business Resources

Service Corps of Retired Executives (SCORE) helped Anne Kleine of Mrs. Kleine's Krelish get her company going. Among other things, it has a short but very useful database of case histories of business startups.  SCORE's online startup workshops is a sample of the quality of their advice. The organization has been around since 1964 and has helped more than 3 million entrepreneurs and aspiring entrepreneurs.  

Startup Journal, www.startupjournal.com, the Wall Street Journal's Center for Entrepreneurs is packed with great ideas, including Success Stories like that of Art Hudson, 51, of Orlando, Florida, whose stock market losses made him rethink his future.  Old plan: play golf.  New plan: sell golf equipment.  http://www.startupjournal.com/howto/successstories/20030331-brandstrader.html

Another source of good general information is the Small Business Administration. Here's a sample of what they offer: Writing the Business Plan.  See also the Virtual Business Plan from Bizplanit.

The independent entrepreneur seeking build-a-business help need look no further than Working Solo (www.workingsolo.com), the terrific site operated by Terri Lonier (lone-yay) who writes and speaks on the subject of being "boss-free."   

Of course, you can find lots of help by seeking out trade associations connected with the business you're considering.  Trade associations can fast-track you right into the action, helping you connect with the people in the know, and perhaps even some financing sources.  When Paul and Sands Belizzi wanted to ranch alpacas in Northern California, they got started in just this way.  If you're of like-mind, here's the source: Alpaca Owners and Breeders Association (U.S.), 800-213-9522.

Advertising executive, Beth Allen, turned entrepreneur by launching a Web-based business to sell her custom drawings.  She specializes in corporate events, reunion and anniversaries, and community event tie-ins.  Click on her name for some tips on how to get your feet wet on the Web.

As the name suggests, the National Business Incubation Association "provides entrepreneurs with the expertise, networks and tools they need to make their ventures successful."

And, don't overlook your local Chamber of Commerce.  Knowing who's who in business in your community will pay off.     

The U.K. has a model for what is possible when you have a champion.  In this case, the champion is Charles, Prince of Wales, and his organization is Prime-Cymru (Welsh for Wales), www.prime-cymru.co.uk, dedicated to help would-be entrepreneurs 50 and older get a start.  Of the 600 start-ups Prime-Cymru has helped launch, only 6 have failed.   

Inn Keeping

Thinking about owning/operating a B&B (who hasn't)?  Boomer attorneys, Larry and Kathy Sklar are loving their life as innkeepers.  You might want to contact the Professional Association of Innkeepers International for some on the ground information.  Test drive innkeeping by inn-sitting like Virginia Doser did and see if it's really for you. 

Try out innkeeping for a season or a year.  Lots of great information in THE CARETAKER GAZETTE, (715-426-5500) published by Gary and Thea Dunn. 

Owning/Operating A Family Business

If you do go into business for yourself, chances are you'll find yourself (at least in early stages) working with your spouse or another family member.  A caveat: these partnerships are easier to get into than to get out of, so make sure you know how to end gracefully (and save the relationship itself).  Here's some sound advice from Don Davidson who operates a successful woodworking concern in partnership with two grandsons.   

The Center for Family Business (University of New Haven, New Haven, Connecticut) has courses and more information (but no website as of this writing).  Telephone: 203-932-7421

If you find yourself inheriting or joining a going concern, Mel Holson, a consultant on family business succession, has some valuable tips for you, many based on his own experience.  Another resource: The Family Firm Institute, Inc.

Books/Magazines

There are literally hundreds of books on becoming a successful entrepreneur.  One of our favorites remains Paul Hawken's Growing a Business (Fireside, 1998).  The co-founder of Smith and Hawken, he now leads The Natural Step, an organization committed to sustainable business practices.

Inc. Magazine remains a reliable source of information for the entrepreneur, whether you are just starting out or growing your business. We loved the recent coverage on balancing business with life featuring Pete and Laura Wakeman of Great Harvest Bakery. Search the Inc. site for this.  

Also useful is Entrepreneur magazine, which also features a wealth of small business how to's.

Jeff Berner's The Joy of Working From Home: Making a Life While Making a Living (Berrett- Koehler Publishers, Inc. 1994) is a classic of its kind, packed with great ideas for you entrepreneurs and independent contractors. 

For tips on marketing your creative services online, check out Ilise Benun's book, Self Promotion OnLine: Marketing Your Creative Services Using Email, Websites and Digital Portfolios (North Light Books 2001).  Her websites, www.theartofselfpromotion.com and www.selfpromotiononline.com, are also full of great information.  

Too Young to Retire: 101 Ways to Start the Rest of Your Life (Plume 2004) is full of ideas for the entrepreneur. 

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Please note that the listing of resources above is for informational purposes only and in no way constitutes an endorsement by 2young2retire.com.  (Except for our book, of course!)