by Dr. Jean on July 18, 2011
Anne Wayman is a freelance writer, but she also knows the value of taking yourself seriously as a business person. Freelance writing is a 
business, as much as making widgets is a business, so starting a freelance business means doing the same things you would do if you were opening a store or selling a product on Etsy.
When she started her business, Anne says she decided to take herself seriously by doing several things:
1. She got a separate business checking account. Excellent idea. I advocate business owners, even sole proprietors, getting a separate business checking account. For businesses that could run into problems with the IRS as “hobby” businesses (like craft businesses), having a separate business checking account helps maintain that separation. It may not convince the IRS your business isn’t a hobby, but it might help.
2. She set up a separate home office space. Make sure the space is used regularly and (this is the tough part) exclusively for business, if you want to take a tax deduction for the space. Even if you decide not to take the tax deduction, having a specific space for your business helps make you feel…and act…more professional.
3. And she got business cards. I’m not sure about this one, only because so many solo business owners operate almost exclusively on the Internet. Who are you going to give your business card to? If you have a local business, sure, that’s great. Otherwise, save the money.
Track expenses. I would replace Anne’s third item with the requirement that you track all your expenses. If you plan to file a tax return for your income, you must have some expenses to offset that income. If you don’t track those expenses, you can’t deduct them. Find some ways to make tracking expenses easy (read Anne’s suggestions for keeping track of expenses).
You get the idea. Starting a business rests as much in your mind as it does on paper. If you want customers, suppliers, even friends and family, to take your business seriously, you must take yourself seriously and act like a real business. Do all the things a big business does. Who knows, maybe you will become a big business some day?
by Dr. Jean on May 26, 2011
Mitch York, Guide to Entrepreneurs at About.com recently reviewed the book Flash Foresight by Daniel Burrus. In his article, York talks about the opportunities for creating a business targeted to Baby Boomers (those born between 1946 and 1964). It’s also a great time to be a Baby Boomer in 
a business startup.
What Do I Need to Know about Baby Boomers?
If you are a baby boomer, you know all of this, but if you aren’t a boomer and want to start a boomer-oriented business, here are some boomer facts to consider:
1. Baby boomers are not alike. The older boomers (those born in the late 1940s, early 1950s) are totally different from those born later.
2. Baby boomers are empty nesters. They probably don’t have children at home.
3. Baby boomers have health issues. That means medical, drugs, surgeries (knee replacement, hip replacement, etc.). Almost all are over 50, and you know what happens then.
4. Many baby boomers are retired, or will soon be retired. That means they are done working and accumulating money.
5. Many baby boomers must continue working, at least part-time. They can’t afford to retire completely, and they are delaying taking Social Security.
6. Baby boomers are going to be hitting age 65 soon. The oldest boomers are turning 65 this year (2011). That means they will be eligible for Medicare.
7. Baby boomers are worried about having enough money. They lost tons of money in the 2008 crash and want to be sure they don’t outlive their retirement funds.
8. Baby boomers want to have fun. Although they are worried about money, baby boomers still want to enjoy life. They figure they have earned it. They want to travel, enjoy finer things, small indulgences.
9. Baby boomers have hobbies. Many want to turn those hobbies into businesses. Others just want to enjoy life and do the things they didn’t have time for when they were working and raising a family.
10. Baby boomers are thoughtful and they pay attention to what’s going on. They vote. They read the newspaper (yes! some actually have a local newspaper subscription!) and they are politically active. I can’t characterize them politically - liberal or conservative - but I can say they are more interested in politics, as a group, than younger voters.
I hope this list gave you some ideas for starting a business focused on baby boomers. If you have an idea and want to get my opinion, email me at drjean@drjeanmeansbusiness.com.
