Ask The ExpertThe Amoskeag Business Incubator and Manchester Union Leader's on-line “Ask-the-Expert” series is an interactive, web-based environment where questions may be asked and answered on various business topics that change each month as new experts are introduced. New experts will be featured periodically, who will post a short article on a specific business topic. Readers will then be able to ask questions of the featured expert. Answers will be posted to selected questions and the information will be available to on the website for future reference. March 01, 2010
Ask The Expert Jim KimberlyPresident, Sapphire Consulting
So you have lost your job and you are in your fifties, perhaps you should start your own business. At least a quarter of laid off mature workers are considering starting a business, tapping into their experience, skills, and contacts necessary to start a business. Recent interviews with mature rookie business owners revealed key tips: 1.Know thyself. Your must have an acute and specific awareness of your interpersonal skills, work habits, communication skills, marketing and sales acumen, and financial analysis skills Most mature rookies believe they have the technical skills in their field but do you also have the other skills critical to success? Do you know what you don’t know about yourself? 2. A “hope and pray” strategy does not equal a plan. Having good intentions and good friends willing to help does not make a solid business plan. Take the time to plan for the first year so you are well positioned for the trials of a new venture. Stay disciplined to the plan and nourish your motivation with good goal setting.
3. Do everything at least once. Once you see the complexities of running a business you will quickly decide which aspects fit you better than others. Be prepared to delegate or buy services that aren’t your forte. 4. Adjust financial expectations. Through hard work in your career you likely achieved financial success. Take a deep breath and realize that similar success in your new business may not come right away. You will work long lonely hours without financial rewards, be prepared for this and help your family understand this as well. Creating the perfect business as a mature rookie owner is not easy but can be greatly rewarding with careful planning and execution. Be patient and persevere! I look forward to answering your questions on this topic.About Jim KimberlyJim Kimberly is President and founder of Sapphire Consulting, an Amherst, NH based workforce performance consulting and training firm that serves clients throughout New England and the US, Canada and Europe. For more information, visit http://www.consultsapphire.com/. Jim can be reached at jim@consultsapphire.com or 603-889-1099.
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