You’ve decided that you want to be on your own as your career pivot.

There could be a lot of reasons for this. Whatever those are, they are yours and seem good and sufficient for you to head in the direction of entrepreneurship.

Every year, a whole bunch of people like you strikes out on their own and form businesses, consultancies, and other revenue-generating efforts to realize their dreams of a successful pivot in the second act of life.

Also every year, a whole bunch of people fail in every one of those endeavors and wonder why it happened.

Let’s talk about that, and work out how you can avoid that fate.

Ideas need to be for the ‘real world.’

There are an awful lot (usually for a price) of books and articles and online pieces that all do their best to convince you that not only you but anyone, have within you such seeds of greatness and brilliance that becoming an entrepreneur is only a matter of following some sort of magic formula they can sell you. The stuff you’ll see is catchy, and sure does make it look easy as you begin to pursue your dream.

By all means, look at it, read it, and try to glean as much as you can from it – but remember one thing. Much of the advice that they give only works in an ideal world, where everybody does things in an ideal manner, including doing business and interacting with other people.

In other words, a place called Narnia. Real life does not happen there, and life (and business) is not wrapped up into a nice neat bow and delivered to your hands in the real world.

With that out of the way (by using a cold dose of reality), let’s begin asking some valid questions you need to answer to determine if entrepreneurship is right for you.

Are you really suited to be an entrepreneur?

Being an entrepreneur is hard.

Mentally, emotionally, and at times physically you are going to have to live and breathe every aspect of your enterprise because no one is going to do it for you. You are IT – and don’t be surprised if you find yourself doing jobs that you don’t think an entrepreneur should be doing, like sweeping floors and changing light bulbs and the thousands of other items of scut work that prior to your career pivot were always done for you by some other employee.

This is perhaps the hardest realization for anyone hoping to be an entrepreneur. They started out with a lofty ideal of how they would go in at 9 AM, work a full day, and be out by 5 PM to drive their Mercedes back to the mansion.

They should be congratulated on having such a rich fantasy life.

Let me say it one more time: being an entrepreneur is hard. Unless you are prepared to take on roles that you never thought you had to do, your effort is destined to fail before it even gets off the ground. Steel yourself to the fact that if you are to become an entrepreneur and start an enterprise you will be both boss and grunt, with possibly a great deal more grunt work than you have ever done before.

That’s life. Be prepared for it before you start your enterprise.

Planning will help you make it.

Planning? If you don’t know or are not really able to articulate an overall goal and then manage it by breaking it down into usable bits, there’s a better than even chance that your enterprise is not going to make it. Far too many people go through their business lives putting out one fire right after another and windmilling at their jobs due to poor or nonexistent planning. If they are doing that while working for someone else, why would it be any different when morphing into an entrepreneur?

Remember, failing to plan is planning to fail. It’s an old business maxim that has always been true, and an entrepreneur takes that and internalizes it immediately.

Think about it; every entrepreneur that you or I know has planned in such a way that they are always moving forward towards their overall goal – so if they encounter an obstacle, the plan always takes into account how to deal with it, usually through innovation, adaptation and eventually overcoming what was in the way.

All kinds of things are going to be getting in your way as you attempt to become an entrepreneur and realize your dream. Chief among these are going to be money, time, and gratification.

Money, time, and gratification are possible killers of your enterprise.

Let’s take those three one at a time, shall we?

Money.

Get used to the idea that there will never be enough. I’m not talking about money for your salary, instead, I’m talking about money to keep the business running on a day-to-day basis, particularly in the beginning.

Successful entrepreneurs are always aware that they need to keep raising money in some manner, shape or form in order to keep the enterprise going. Anyone who trusts that money is going to magically appear simply because their ideas are so great will find out quite differently, and very quickly.

Plan immediately how you will raise capital, and keep it coming – especially at the start and later, as you try to grow the enterprise.

Time.

We all have the same amount of time every day. The key to successful entrepreneurship? Knowing what to do with that time that maximizes the use of it in terms of building your enterprise.

The phrase “Spending your time” is very true when it comes to being an entrepreneur. Movers all know that their time, once spent, can never be retrieved. They use their time wisely and productively through planning for the day. I know of some that plan for every hour of the day. Unless you’re prepared to be an absolute fiend with your time and how you spend it, entrepreneurship may not be for you.

Gratification.

This relates to time above. Throughout our lives, it’s only natural to seek a certain amount of personal gratification – the many things that are fun, diverting, and pleasurable.

To quote Admiral Akbar from Star Wars: “It’s a trap!”

Now, don’t get me wrong… I’m not saying that you shouldn’t plan out time for fun or something that’s pleasurable. What you need to do is schedule those things just as you would an appointment in business. Successful people do this all the time. You’ll find that if you don’t do this you’ll be like the little metal spheres in pinball machines – bouncing from bumper-to-bumper in no particular way, suddenly discovering that time has gotten away from you. The time you should have been using to get stuff done, instead of wool-gathering and doing something you like.

Which brings me to…

Schedule each day like the politicians do.

Have you ever wondered how politicians are able to recall the details of negotiations and meetings (and the results of same) days, weeks, months, even years after the fact? It’s because they keep schedules and journals to manage their time on a day-to-day basis, and as the day progresses they write down notes concerning everything that happened during that day’s business.

As an entrepreneur, you need to get into the same kind of habit, particularly if you are going to be involved in an enterprise where being able to document what happened in a face-to-face meeting could save your ass. Having that kind of detailed information available to you comes in very handy when other people you work with suddenly develop a faulty memory concerning things like details of terms they had agreed to, or even the amount of money owed. (If you are a politician, it helps when testifying before a Grand Jury – but I digress…)

Keep a journal. It will pay off dividends in the long run, and give you a great sense of accomplishment when you go back over the journals in the future and relive some of those moments.

What else? (..and why are you raining on my parade?)

Now, you can probably think of some other things that we haven’t discussed here, and that’s good – it shows that you’re thinking and considering what we brought up.

While it may seem that I’ve done everything in my power to throw roadblocks in the way of your pursuit of what should be the Next Big Thing, understand the only thing I’m wanting you to do is to rationally look at what you’re trying to accomplish, and what you need to do to accomplish it.

If you want to add to the discussion or the list of things that a potential entrepreneur needs to do – especially in the second act of their life – there’s a whole comments section open for you below.

Have at it!

This post was written by John Lewis. John was born in Europe and came by both wanderlust and curiosity from that beginning.He trained for a career in radio, TV, and print media before promptly giving all that up to spend 30 years in the jewelry industry. Once the lure of shiny things faded for him, he embarked on the Second Act in life as a Scuba Instructor, at one point with three separate International agencies. A stroke beached him in 2014, causing him to come full circle to his original training as a writer and video editor/ producer. He considers this his Third Act in Life.

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5 Daunting Challenges an Encore Entrepreneur Needs to Combat

Contrary to popular belief, new companies don’t have to be young companies. In fact, according to the Kauffman Index, around 53 percent of new businesses in 2013 came from entrepreneurs over the age of 45. That’s up from around 44 percent in 2003.

Our grandfathers had a good chance of working their entire lives for the same company and retiring with a pension and a gold watch, but that’s rare today. If you want to take charge of your own dreams, you can and should start a business no matter how old you are. But it does come with daunting challenges. Let’s explore some of the problems and learn how to overcome them.

1. Dealing with Ageism

Becoming an encore entrepreneur may be met with stereotypical reactions such as “It’s too late for that now!” Due to such reactions, many professionals above a certain age may experience a lack of faith in their stamina or skills. At times, you will be viewed as “out of touch” compared to your younger counterparts.

Don’t let attitudes on ageism discourage you from chasing your dreams. It’s important to show everyone that you’re committed to your business by acting professionally and treating everyone firmly but fairly. Let worrying about age be someday else’s thing, not yours.

2. Handling Criticism and Rejection

Many people will automatically begin to criticize your career choices. Sometimes they do it because they feel insecure and cowardly in the face of your conviction and innovation. Some may even try to persuade you to abandon your dreams by, for example, pointing out the consequences of failure. However, it’s important that you stay focused on following your own path.

Moreover, entrepreneurship can be lonely when friends and family are the ones who don’t understand the decision. It takes dedication to succeed, and being constantly on the go can be a strain on relationships. If you’re going to reach your goals, you will have to make sacrifices, but finding time for your loved ones is important for emotional health. Try to find the right balance.

3. Facing Young Competition

If you are an encore entrepreneur, chances are you will find yourself competing against twenty-somethings brimming with confidence. The younger generation has grown up in a fast-changing environment, so they’re used to adaptation. Adapting quickly to market changes may not be something you have learned in traditional job roles.

However, it only takes some research and analysis to see which trends are gaining momentum. Unlike younger people with limited experience, you understand better how your industry operates, and you have the wisdom of more life-lessons! In the end, trusting in your own abilities is key to realizing your ambition.

4. Not Being Tech-Savvy

The younger generation was the first to grow up already surrounded by smartphones and Wi-Fi. They have an edge through being more tech-savvy, while you may feel clueless on many new technologies.

To succeed, you need to understand the business systems and channels in use today. That includes not only computer hardware and software but today’s internet – particularly social media. If you want to succeed and gain customers, you simply need to be aware of all the new marketing trends that take place online. If you have the disadvantage of having insufficient IT knowledge, don’t worry – commit to learning and soon you will catch up on everything.

5. Dealing with Stress and Self-Doubt

Although you might be empowered by a stable financial situation and years of experience, starting a new business always involves risk. Encore entrepreneurs might experience stress at every stage of growth. You will probably feel discouraged when things go wrong, and self-doubt can quickly sneak in.

It’s important to always regain a clear head as part of your practices. For example, developing a personal program of meditation and exercise can help reduce anxiety. One way to refocus is to keep an updated list of your goals and the steps to realize them. When you’re depressed and feel like giving up, look back at the goals you’ve already achieved, and tell yourself you just have to accomplish this next step to make progress. Life is never an easy journey – but you have to persevere to reap the rewards!

Conclusion

In conclusion, it’s vital that you don’t become discouraged by the ageism that sees young entrepreneurs as stars and encore entrepreneurs as dinosaurs. Everyone experiences some form of criticism and rejection in their career choices, so it shouldn’t discourage you.
You can measure up to young competition by becoming more tech-savvy and socially aware, while at the same time finding a means to reduce self-doubt and stress.

Even if you’re 60 years old and have been an employee your entire life, it doesn’t mean you can’t be a leader now – so go for your dreams!

This post was written by Natalie Smith, a Seattle-based freelance writer, enjoys writing about marketing, social media, brand building and customer service. She is also an ardent follower of the new trends in the business world, as well as on the Internet. You can reach her on Twitter.

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3 Technologies That Make Working From Anywhere Easy

I have been exploring to see how easy it would be to move my business anywhere. As a solo-entrepreneur, my goal is to eventually have a location-independent business.

Last week was my first experiment in working outside of the U.S. as an independent business. My wife and I just returned from San Miguel de Allende, Mexico, and I discovered that by using three different technologies I could be location-independent.

Let me tell you about the technologies that made it so easy.

Skype

My wife and I arrived in San Miguel on Wednesday afternoon, March 1st. We had arranged to rent a one-bedroom unit through AirBnB.  After we arrived I quickly connected to the Wifi because I was scheduled to be interviewed on the Criminal Justice Evolution podcast that evening.  The Wifi connection was not great – but good enough.

My wife and I went out to eat and returned home around 7:30 PM. I got out my Apple MacBook Pro, attached my Audio-Technica ATR2100-USB microphone and I was ready to go. Patrick Fitzgibbons interviewed me for about 45-minutes and it proved to me that I could have been anywhere. Listen to the interview here and let me know what you think.

Most podcasters use Skype for their interviews. It is free, mostly reliable, and the audio easily recorded. I use Piezo from RougeAmoeba to record my podcast.

When we explore Ecuador in May, I will get a U.S. phone number for my Skype account, and forward my Google voice telephone number (you will find that number at the top of this page) to my Skype account. That way I can use my Mac, iPhone, iPad or any other platform that has the Skype app.

This was easy!

DropBox/Google Drive

I use DropBox and Google Drive to share files with my podcast vendor, PodFly Productions, my virtual assistant, my co-author, and anyone else I work with.

While in San Miguel, I was able to edit a podcast recording, record the intro and outro, and share those files with my folks at PodFly. All I needed to do was copy them to a directory on my Mac, and automatically those files were replicated to the audio editor, and the show notes writer could access them.

PodFly uses Google Drive for show notes. On Monday, I opened a Google Doc file and copied the show notes to my website. I have no idea where in the world the show notes editor or the person who proofreads the show notes works or lives.

I could have been anywhere. It is so easy.

Google Translate

I used Google Translate for the very first time on this trip. WOW!!!

I have been all over the world and I have a collection of foreign language dictionaries. 

Google translate will translate a text you type into the app.

You can see some of the words I typed in like:

• exit
• small coffee (Yes, I went to a Starbucks)
• wow
• Onion soup

Now if I wanted to translate the word “good”, I would see the translation of Bueno.

The cool thing is if I click on the little speaker next to SPANISH, Google translate will pronounce the word or phrase.

The next cool feature is if you tap the microphone and speak into the phone, Google Translate will give you a decent translation.

Tuesday at lunch our waitress was trying to explain to us, in Spanish, about the dish my wife had ordered, a type of taco. She spoke no English and we were at a loss on what she was saying. I had her speak into Google Translate app and we learned that the tacos were wrapped in lettuce rather than tortillas. Boy! Was that easy!

 

 

The last feature is using the camera. I found the following sign in the airport.

I then displayed the same sign in Google Translate looking through the camera lens.

The translation is not perfect but it sure helps!

I used this on restaurant menus, traffic signs, package labels, etc., …. all with similar results.

Conclusion

Technology is making working from anywhere easy. All I need is a good Internet connection and I am good. Will this technology affect your job or career?

Probably!

Our next adventure will be going to Cuenca Ecuador in May.

Marc Miller  

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