Small Business Owners Make Dreams a Reality
The unemployed and economically frustrated are choosing entrepreneurship in great numbers because bills need to be paid.
But I’d wager a bet that any survey of small business owners would still surface quite a few of us whose dreams extend beyond the timely payment of utility bills.
Check with Your Small Business Owner Network
In one of my small business owner networking groups we had a discussion about why we’re running our businesses and where we see ourselves a few years down the road. I can tell you that continuing to pay the bills on time, while expected, didn’t lead the “dream” list.
Small business networking groups are not just good for picking up knowledge about your industry and practices. They are good for inspiration,validation and accountability. I learned from my networking group that I wasn’t the only business owner that wanted more travel in my future.
Many of us want to travel more, others want vacation homes and still others just want the peace of mind that comes from knowing financial needs are met.
Unlike many employees who fantasize about not working in the future, entrepreneurs tend to love what they do and like the fact that they can determine the timing of their retirement (if at all). We want to keep running our businesses as long as they feed our aspirations and turn concepts into reality. The portability of running a business online makes it particularly appealing as a long term pursuit.
The Baby Boomer, Labor Shortage and Opportunity
The background to all of this is the reality that the largest population group in our nation – the aging baby boomer – will be retiring in droves in the years ahead. Unlike previous generations, there will be fewer youth available (or even willing) to fill these positions since as a society we are having less children than we did 20-30 years ago.
Labor analysts are forecasting a significant labor shortage that may impact North American companies’ ability to compete successfully in the marketplace. Other analysts who are watching the entrepreneurial trend of baby boomers are indicating that this will be an opportunity for small business owners to become essential outsourcing partners for larger firms.
Does this make you feel more confident about your small business venture? It should. Being creative and flexible enough to respond to expected market needs as articulated by forward thinking economists and best selling authors like Richard Florida is good news for your financial future.
It’s also good news for your life plans. Think about it…summers in the northern part of the country or maybe another country all together? Once those cold winter winds start to blow you can either enjoy the ski country if that’s your thing or head to the Caribbean for real warmth and relaxation. No matter your decision with an online business you can in many cases move your business with you for those extended stays in any place your heart desires.
So what dreams are you going to realize in the year(s) ahead?
To your success,
Sharon
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Comments
Great article Sharon, and a big question. I'm not quite a baby boomer but I'll answer anyway
If you had asked me what I wanted a year ago I might have said something like owning my own home, paying off all my debts, etc. While those are things I would like to do they're not exactly dreams.
I think my biggest dream is having true, amazing time freedom. I know I can get it through my online business and I need to plan carefully to make sure I do it.
My dreams are doing things like – taking off on day trips with my son, taking dancing lessons and performing somewhere, learning to play the piano, taking off on weekend trips with my boyfriend and a whole bunch of little things that all add up to FREEDOM.
It just occurred to me recently that freedom really is my driving force. I want financial freedom of course. I also want to be able to take a month off with absolutely no financial worries and in fact see my business has grown when I get back.
I love questions like this. It makes me thing and try to really understand what I want from my life. So thanks for another great post!
Angela I couldn't agree with more! Plus, when we set “real-life” goals like you've set (earn enough to give you the freedom to be with those you love, etc.) then the path to that goal is likely very concrete and most importantly – attainable.
Perfect! I am a baby boomer. Hubby and I are both self-employed and plan to be employed for the rest of our lives.
Corporate America left us high and dry without much in the way of retirement packages or reasonable insurance. We are on our own… and wouldn't have it any other way at this point.
At 51 we are already in “retirement mode”… we travel more and take lot's more naps than we ever did with we both had J.O.B.'s
In 5 years I hope that our entire business will be mobile so we can travel with our business for those long durations. At this point we are still tethered to a local area, but in 5 years that will be a distant memory.
Thanks for asking these great questions!
Good for you Debra! I'm 5 yrs behind you and like you my husband and I want to travel a lot more while enjoying our businesses.
Angela I couldn't agree with more! Plus, when we set “real-life” goals like you've set (earn enough to give you the freedom to be with those you love, etc.) then the path to that goal is likely very concrete and most importantly – attainable.
Perfect! I am a baby boomer. Hubby and I are both self-employed and plan to be employed for the rest of our lives.
Corporate America left us high and dry without much in the way of retirement packages or reasonable insurance. We are on our own… and wouldn't have it any other way at this point.
At 51 we are already in “retirement mode”… we travel more and take lot's more naps than we ever did with we both had J.O.B.'s
In 5 years I hope that our entire business will be mobile so we can travel with our business for those long durations. At this point we are still tethered to a local area, but in 5 years that will be a distant memory.
Thanks for asking these great questions!
Good for you Debra! I'm 5 yrs behind you and like you my husband and I want to travel a lot more while enjoying our businesses.
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