The Challenges and reality for Babyboomers as they get close to retirement

    Have the challenges of the Babyboomer generation made it impossible to retire?

    According to Gallup article, babyboomers still work even though they are eligible for retirement.

    Although the first wave of boomers became eligible for early retirement under Social Security about six years ago, the generation still constitutes about one-third (31%) of the workforce, similar to percentages for millennials (33%) and Generation X (32%). via Many Baby Boomers Reluctant to Retire | Gallup

    So, why aren’t more Babyboomers retiring?  Well, besides the normal challenges of increased cost of living there are other expenses that were not considered:

    For example,

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    Medical expenses for themselves or their family members

    When we were younger , did we think that we’d have to pay $10,000 for dentures?

    Lack affordable health insurance plans, rising medical costs in general, long wait time for procedures and the massive explosion of the babyboomer population entering the years where they will need more health care, the rising phenomenon of medical tourism also called medical travel or international health travel via Medical Tourism Being Seen as an Alternative To Obamacare

    Inconsiderate planning for retirement

    Did you have training when you were younger on how to save for your retirement?

    Over half of over 55s who currently earn £20k – £30k have saved less than £30k for their retirement. This translates to an income of around £165 per month. Yet despite this, almost a quarter of people (23%) in this category anticipate a retirement they describe as “comfortable”, demonstrating a dramatic difference between what they are used to and what they might actually afford. via Babyboomers reinvent retirement pJ 

    Unexpected support of family members

    When you were young did you know that besides supporting your children, you would be supporting your parents as they got older? It is not usually planned that you will be the caregiver of your parents. 

    The number of older people with intense care needs will outstrip the supply of informal care from family members in 2017, with the consequent ‘care gap’ affecting as many as 230,000 people by 2030. via Thousands won’t be able to rely on family in old age. We need a contingency plan

    Little did you know that when you had your children graduate from college that due to the economy and or cost of living, they return to your house a few times to live. Your children want a life of their own but the uncertain economy has made them return to their family home.

     

    In the past decade and a half, according to the Economist, about 3.2 million 20- to 34-year-olds have gone back to live with mum and dad via Let’s see some babyboomer rage about Generation Jobless

    Many seniors are realizing that what they’ve saved for retirement years isn’t going to be enough to support them and even provide them with necessities – much less the luxuries they’d like to enjoy.

    That’s why so many seniors are building online businesses well before the retirement party. One of the benefits of building a part time business in your spare time before you retire is that you’ll already have an income and it can increase as your business grows.

    Having a second business to pursue after retirement keeps your mind sharp and you won’t ever get bored if you’re committed to your business pursuits. But this time you can set your own hours and only answer to yourself as the boss!

     

    Categories: Be Your Own Boss Tags: Tags: , , , ,

    Customer Service Trends Predictions

    Gartner Research predicts that customers will handle 85% of their relationships with a company without ever interacting with another human by the year 2020 from 8 Mega Customer Service Trends for 2016

    This year it will be more important than ever for your customer service teams to provide quality support. At the end of the day, it’s all about understanding the customer and predicting what they will want next from  8 Mega Customer Service Trends for 2016

    As a result savvy retailers will be switching to mobile formats, with  AMP (Accelerated Mobile Pages) tipped to be the system of choice for the future from Top eCommerce trends for customer experience – Fourth Source

    In 2016 forward-thinking online retailers, particularly in the fashion space, will make more use of augmented reality to successfully redress the balance and eliminate the likelihood of missed sales and abandoned baskets from  Top eCommerce trends for customer experience – Fourth Source

    A big focus for Google and one which will become even more prevalent amongst retailers this year is to champion a personalised approach that takes an individual user view to secure not just repeat custom, but incresed purchase volumes. Maintaining relevance means having a broad awareness of past purchases and personal preferences to win the hearts, mind and wallets of shoppers from  Top eCommerce trends for customer experience – Fourth Source

    Categories: Customer Acquistion Tags: Tags:

    What Is a JV Partnership?

    A joint venture partnership is made between two or more individuals or business owners to work together on a particular project, product, or event. The companies do not become one; instead they maintain their separate individual entities while working on a particular goal together. The purpose of a joint venture is to combine resources to maximize efficiencies of each entity for the particular project.

    Limited Time Span

    While some JVs do last a long time, most of them are temporary until the completion of the project. Many businesses find themselves entering into several consecutive JVs due to the success of others.

    Clearly Defined Objective

    Another thing that denotes a JV partnership is that they usually have a very clearly defined objective or reason for being put into place. Each entity involved knows their place and what is expected, as well as the goal.

    Degree of Involvement Is Obviously Defined

    Each part of the JV alliance has a particular thing that they are supposed to do, and this is clearly spelled out in an obvious manner. Each partner knows what is expected, what to do and when to do their part.

    Spelled-Out Financial Contributions

    Since the business entity isn’t going to be formed in a JV, the financial responsibilities of each member must be expressed. Sometimes one person is responsible for the finances, will deduct expenses from income and then distribute the profits as spelled out in the contract.

    Plans Spelled Out for Problems or Disputes

    In a JV that is temporary in nature, there can still be issues and disputes that arise. The contract usually spells out what to do and who will be the final say in any dispute – typically an unbiased arbitrator or in some cases the person with the main financial input gets the final say.

    Termination of JV Arrangement Detailed

    Since a JV agreement is not permanent, usually the contract spells out exactly when and how the arrangement will end and what will happen to the intellectual property when the arrangement is complete.

    Non-Disclosure Information

    Most of the time both parties require some sort of non-disclosure information to keep trade secrets, contact lists, financial and other information private, since some of them will necessarily be revealed during the JV partnership.

    Other Legal Information

    It’s important to check with your state and country about various terms and issues that should be covered in your JV agreement. Together with your JV partners, you may want to determine which of your locations will have the final say on any legal issues that should arise.

    A joint venture partnership is a great way to expand your reach because you get to use each other’s contacts, resources, and skill set. But, it’s important to understand what a JV is and what it’s not. It’s not combining two businesses permanently and it’s usually a temporary joining of forces.

    Categories: Joint Ventures Tags: Tags:

    Ten Steps to Improving Your Online Reputation

    Today, managing and improving your online reputation has become essential. This is due to the advent of Google Search and the ability of anyone to look for you online and find out information about your company and your personal life. Even if there is something out there that you don’t want people to dwell on, you can make it better. It takes a little bit of work but it can be done. In fact, everyone who wants to be known online should be doing these things.

    1. Monitor the Buzz – People are talking about you. You can use Google Alerts and other online apps to monitor your business name, personal name, product names and more to know what is being said about you online.

    2. Listen to Your Customers – So many business owners conduct surveys, read their online buzz, check out rating sites and so forth but never really listen. It’s important to show your audience by your actions that you’re listening.

    3. Respond Quickly – When a customer has an issue or complains about you online, always respond quickly to the complaint. Even on social media, if you don’t answer a complaint they’ll see you as providing poor customer service regardless of whether you planned to provide customer service there or not.

    4. Remain Positive – No matter what a customer, client, or review says, it’s imperative that you never allow negativity to take over. Stay positive and try to read between the vitriol. A good tip is to copy and paste their complaint or reviews into a word document, then delete anything that takes away from the complaint. Then only answer to the complaint.

    5. Apologize – Even though business owners know that sometimes customers are wrong, in public they are right. You must apologize to them in public and offer to make it better. It’s the only way that you can regain the confidence and trust of the public. Better yet, ask the customer what you can do to make it better and you might be surprised at how little it takes.

    6. Be Everywhere – You need accounts on YouTube, Instagram, Pinterest, Facebook, Google+, LinkedIn and whatever else happens to come up where your audience likes to discuss anything to do with your business. Then interact and engage with them.

    7. Solicit Reviews – When you send information to your buyers in a follow up, always ask for positive reviews and give them the link of the place you want the review to be posted. This will help increase the positive and counteract any negative reviews that might exist.

    8. Publish New Content Regularly – Blog on a regular basis, posting new content as often as you can: at least three to five times a week if you’re new at it, and once a week if you already have over 300 pages of content. Consider guest blogging on high-ranking authoritative websites too.

    9. Avoid Making Social Media Mistakes – Sounds easier than done, but all this means is you need to think twice about anything you put on social media, positive or negative. Even innocent jokes can get you into trouble if you don’t know your audience well enough.

    10. Don’t Neglect Your Accounts – Once you have a social media account, do not allow it to remain dormant. Keep it updated on a regular basis – at least once a week personally, and if you enact some smart automation it will appear that you’re more active.

    Regardless if anyone has said anything bad about you, it’s important to build up your online reputation in order to protect it – even if it doesn’t need improving. By building out every aspect of your online presence, you’ll soon have an excellent online reputation that cannot be torn down or paralleled.

    Categories: Reputation Management Tags: Tags:

    Membership Software That Works

    When you are deciding on technology for your membership site, it’s important to consider not only technology that works, but also technology that works for you in the way that you want it to work. What features do you want the membership software to have? What is your skill level with troubleshooting technology? Who will you hire if you don’t have the skills? There is a lot to think about when choosing membership software.

    1. NewRainmaker – This software is software as service (SAS), meaning it’s running from the cloud. You don’t do anything but set it up, kind of like you would WordPress. All the plugins and functionality that works best with membership sites are included, such as affiliate management, drip technology, and forums. This software includes a monthly fee for hosting, tech support and use of the software.

    Link – http://newrainmaker.com/

    2. aMember – This is an add-on to your current website. If you use WordPress it works very well with it. It also works with other types of website builders. It includes affiliate management, drip technology and more. You will need to purchase separate software to have a forum. They will install it for you for a fee and provide great support. It’s a one-time fee and upgrade fees yearly. You’ll have to pay extra for tech support if things go wrong.

    Link – http://www.amember.com/

    3. iGrOOps – This is another hosted solution where you pay a monthly fee for using the system. They provide all the upgrades, updates, and hosting. You simply use their template system to create your membership site. It has all the bells and whistles but it cannot be made to look like your current site.

    Link – http://www.igroops.com/

    4. EasyMemberPRO – They promise anyone can set up a membership site, and connect it with your current software quickly and easily. It also has a lot of what you need with a profitable membership site, including affiliate management. There’s a one-time fee with one year of free upgrades.

    Link – http://www.easymemberpro.com/

    5. WishList Member – This is a plugin that works with self-hosted WordPress websites, turning your current site into a membership site with all the bells and whistles except that if you want a forum you have to purchase software for the forum.

    Link – http://member.wishlistproducts.com/

    6. MemberGate – Another hosted solution with a monthly fee but one that offers every bell and whistle you can imagine from forums, to video hosting, to drip technology and more. The look is slightly dated for the choices of templates, but you can use your own coder working with them to change that if you want to spend the time and money.

    Link – http://www.membergate.com/

    7. ONTRAPORT – This is a very high-end solution (with a high-end price). But, if you plan to run a six-figure business, this is a great solution that offers managed membership without having to ever worry about technology. It will also work with your current WordPress website.

    Link – https://ontraport.com/features/

    8. SiteManPro – This is a great solution if you want to sell digital items and run a membership solution. You can use this to automate the entire thing. It can work with your current WordPress site. You will need to get separate forum software if you feel you need one. It integrates easily and works as it states.

    Link – http://www.sitemanpro.com/

    9. Smember

    Remember to write down the features you want your membership site to offer, as well as to take into consideration your level of technological skill as you pick a membership software solution. It might cost a few dollars, but you can’t make any money if you don’t make a choice and get started.

    Categories: Membership Tags: Tags:

    Current state of Entrepreneurship in the World

    calculator
    Public Domain from pixabay

    Things are looking brighter in the startup of small businesses than before the crisis in 2008 according to a OECD Worldbank and Facebook collaboration on survey of smaill businsses.

    Trend start-ups remain below pre-crisis rates in most OECD economies, although in Canada, France, the Netherlands, Norway, Sweden and the United Kingdom rates were higher at the end of 2015 and beginning of 2016 than before the crisis. Trends in the most recent periods are pointing upwards in most OECD countries, from http://www.oecd.org/std/business-stats/entrepreneurship-at-a-glance-22266941.htm

    calculator
    Public Domain from pixabay

     Give the ‘lure rather than the fish itself’

    Many countries are recognizing that micro businesses will be the wave of the fuure to get their society off government support. In this report on Borneo, there was successful micro-entrepreneur startups to get people off of welfare. If you give a person the lure to catch the fish is much better than  giving them the fish according to the report from

    http://www.theborneopost.com/2016/10/31/micro-entrepreneurship-can-help-break-poverty-cycle/

    Some new Trends in Entrepreneurship

    skiier
    Public Domain from pixabay

    Get into the Industry you know

    Rather than trying to learn a new industry a lot of successful entrepreneur are working in industries they either were a customer or worked in local business. So, they knew what problems or challenges that industry has so they can be more proactive in solving the problems.

    For example, Steve Sullivan was a ski bum who hung around on the ski slopes and then knowing the challenges of the weather and clothing he decided to work creating clothing that actually functioned in that environment.

    We get to actively test the products that we are making every day. I can run out from our office and do a tram lap for lunch and check out the fit and function of a new jacket that we’re trying. . . . The culmination of that leads to better products. viaTo Increase Your Chance of Success, Get Into an Industry You Know

    New type of entrepreneur

    entrepreneur

    Instead of working a 9 to 5 job 40 hour week, a lot of new entrepreneurs are doing more than one business to give them the flexibility of hours spend at work and at home.

    Savvy consultants told us they value being able to make almost as much money as they did at a big firm, but doing so by working late at night so they have more time with their kids from Wanted: Creative Solutions to Shape a Workable Future

    If you are thinking about starting your own business try the Be Your Own Boss  quiz.

    Categories: Home Business Ideas Tags: Tags: , ,

    Do you have a customer service plan in your business?

    3d Group of customer service related words

    3d Group of customer service related words

    When you started your business, did you have a plan for setting up customer service policies in your business plan?  Is there customer service policies and trainings for when you hire and train new employees?  Is customer service even in your mind when you are designing your business plan?

    No!

    Then you’d better start thinking about policies to create good customer service in your business because the customer experience is becoming crucial for a brick and mortar business and internet businesses.

    According to Desk.com,  82% of people say they’ve stopped doing business with a company because of poor customer service. What’s worse is that 39% of those lost customers will avoid you for two years or more after that experience. As you can see, customer adoption and retention relies heavily on great customer service from Best practices for customer service training.

    Just look at this article about Time Warner Cable and how their customer service rating has dropped critically for some simple customer service which they could easily improve.

    Time Warner Cable had the lowest customer service rating of all cable companies in 2015, according to Consumer Reports, and lowest of all U.S. companies, according to another consumer agency from Calling all Time Warner customers to unite against its dreadful customer service

    Word of mouth

    What is the most effective and cheapest form of marketing for your business?  Word of mouth by your customers can increase or quickly decrease the revenue for your company.  People who have a bad experience will 10 times more other people about that bad experience than someone who has had a good experience. 

    In 2012, the President of The Cheesecake Factory shared that his company’s marketing expenses are less than 20% of the industry average due to great WOM (Word of Mouth) from How Customer Service Interactions Foster Word of Mouth

    Customer Experience

    Since the customer experience is the relationship between your company and your customer, you need to identify what kind of relationship this would be. Some things to ask yourself  include:

    The image you want to have in your customers’ minds.

    The emotions you want interactions with your company to spark in customers.

    The culture of your company that you want to convey to your customers.

    Your company’s personality and how your customers see it.

    Good customer service is ensuring that during every stage of this journey your client is taken care of, including, of course, providing an excellent product at the end of the journey  from Make Your Clients Ambassadors For Your Business With Good Customer Service.

    Now, with customers willing to sign up with their email, address and answer surveys or contests or be willing to give feedback on a company just for a company, there is plenty of statistics and data on the internet to learn about your customers.  Google Search and Bing and Yahoo are providing search engines so they can collect information about what people want so they can sell ads etc.

     According to Forbes

    Software can track how you like to buy how long you stay on reviews, the amount of time you spend comparing other products and more. With this data, you can customize your customer’s buying experience. For example, if your customer loves reading reviews, the next time they come to your website, the reviews may be at the top from  The Year Of The Customer: 16 Customer Service And Experience (CX) Trends For 2016

     Customer Culture

    Consumers may want to purchase a product, but they want to do it in an atmosphere, online or in-store, that makes them feel something positive from Why You Should Think Less About Sales and More About the Customer Experience.
    Just look at Starbucks where the coffee is distinct  and “hanging out” in Starbucks is an event. “Going for coffee” has become part of the North American culture in less than 20 years.

    coffeeCompare your business to Starbucks and ask yourself:

    Is visiting your business an experience?

    Is your website easy to navigate?

    Is your website easy to find your contact information?

    Do you have  friendly, timely answers for anyone asking  for help?

    Is a plan for customer service in your business plan?  No. Then come join us at the business of at home business newsletter to learn more about customer service!

    Categories: Run a Home Business Tags: Tags: ,

    There are 3 Billion People online-Your Tribe is out there!

    multi ethnic hands reaching for globe ball

    There are 3,279,088,431 people on the internet today!
    Tweet: There are 3,279,088,431 people on the internet today!

    Your message
    Your product
    Your service
    Your passion will serve those who need or want you to help them solve a problem or fulfill a need.
    Don’t be intimidated by the idea of reaching EVERYONE!
    You aren’t in the Everyone Business , according to Darren Scott Monroe.

    There are 3 Billion Online and your TRIBE, your AUDIENCE, your CUSTOMERS will find you if you message is clear and you go to where THEY are.

    How do you find your Customers?

    Define who your Customers are and this will tell you where they like to hangout on the Internet (or whether they don’t come onto the internet).


    Categories: Ideal Customer Tags: Tags: ,

    How to Steer your Customers towards you!

    path

     

    Have you ever really listened to your customers? If you did, there might be a change in focus in the direction that your business will take.
    I thought that when I started that people would want to have a way to go step by step from idea to launching and then growing your business. I know ,they need this type of guidance as being in home business, I know the challenges and stress of being your own boss.
    But I have found with the years of hanging out on the internet and listening to people on Facebook and in group calls and masterminds that people want the quick solution. People want either a quick way to have a “business” or they talk about it but they aren’t willing to put the work in.
    So, my focus has changed to listening to what people are saying. Then putting out an offer to them to see if they are interested. If not, then ask them more questions to see what they REALLY wanted. If they want it then create it with their participation.
    No long term commitment to create the content and find out no one wants it.
    Keep this in mind when you have an idea you want to create before you invest time and energy!

    Check out Resources for more inspiration!

    Categories: Ideal Customer

    Home Business Startup Costs

    onestepforward

    Home Business Entrepreneurs are a vital and growing part of the business economy in North America. According to Global Entrepreneurship Monitor 2012 United States Report in 2012, over 69% of new entrepreneurs started from home. 55% of the new businesses remained at home even if they hired employees. Also, the average financing was $15,000 with 82% of the entrepreneurs receiving financing from personal funds, family or friend. If you are thinking about starting a home business, it is possible to start from home with less money than you think!

    If you haven’t heard the term “bootstrapping”, it is a new mindset for you to save money by doing some of your startup activities yourself and financing your business plan.

    1. The first step would be to create a budget of potential income and expenses possible in the first year. Most important would be to define all the expenses as income may not come in the first year.

    2. Looking at the expenses, see how you can save by reducing expenses by, for example:

    a) doing your own bookkeeping

    b) using your existing furniture for your office rather than buying new or go out to garage sales to find used items.

    c)asking your computer saavy family member to help you setup your internet in exchange for…

    For most service businesses that are home-based, the initial year is the most expensive but saving money by creating an office in your home and using existing furniture and computer equipment helps to reduce costs.

    Now on to needing money, a bootstrapping entrepreneur will use:

    a) their own personal savings

    b)credit cards debt

    c)ask family or friends for startup money or if you are lucky, use your family members skills within your business in exchange for whatever you decide on.

    The advantage to using your own personal finances is you are not indebted to any other person or company like a bank.

    Without knowing what your startup expenses will be, you won’t know what money you need to raise before you even start your business. So, even though the thought of doing a business plan may be something you consider unnecessary, even if you are going to be bootstrapping, a business plan is worth doing to see what you need for the first year.

    Government Resources for Writing a Business Plan

    The U.S. Small Business Administration has a free resource on creating a business

    The Canadian government resources at Canada Business Network

    Australian government at Business Plan Template

    Great Britain at Write a Business Plan

    Go and write up your business plan even if you aren’t going to a bank for financing because it is the guide and plan to use in your first year to keep costs under control!

    by Jane Gardner from Jane-Gardner.com To empower and implement your business dreams!

    Categories: Start a Home Business Tags: Tags: ,

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