Women Over 50 Are Starting Businesses Left and Right. Should You?

*Guest post by Lucy Reed

You’ve spent years in a career that doesn’t fulfill you, and frankly, you’re tired of it! Now that you’re getting older, you’re serious about spending your time in ways that count.

Does that sound like you? You’re not alone: Lots of women over 50 are chasing their entrepreneurial dreams now that they have the time, confidence, and financial capital to do so.

Why Women Over 50 Start Businesses

Some women start businesses out of necessity. Older women who have recently lost a job or who are reentering the workforce find themselves disappointed by job prospects and decide to create their own opportunity. Other women discover they finally have the time and energy for a passion project now that they’re older. And with fewer people depending on them, older women have more freedom to take risks and fully commit to a business.

The Traits of Successful Female Entrepreneurs

Entrepreneurship isn’t for everyone. You have to be willing to take on financial risk, put yourself out there, and juggle a ton of responsibilities. For some people, it’s a role that comes naturally, while others have perfected the art of faking it until they make it. But if entrepreneurial traits like tenacity, dedication, and risk-taking aren’t in your playbook, business ownership might not be for you.

That doesn’t mean you have to be a cutthroat business woman or a natural salesperson to be a successful entrepreneur. Plenty of over-50 women start businesses in the nonprofit sector or become consultants and solopreneurs. However, whether you’re running a multinational corporation or a one-woman bookkeeping service, you need to be comfortable with marketing yourself and maintaining a public image.

Financial Considerations for Older Entrepreneurs

Starting a business can be a way to grow your income add to your nest egg after 50, but it’s no guarantee. Launching any business is a financial risk, and it’s even more so for women, who are likely to tap personal savings for startup capital. That’s because women entrepreneurs have a harder time than men raising startup capital for business ventures.

While it’s possible to tap retirement savings to start a business, the process is convoluted, and a mistake could lead to hefty IRS penalties. There’s also the risk that your business doesn’t succeed and the loss sets your retirement back years. Before going this route, explore other funding options like Small Business Administration microloans, alternative lenders, or even crowdfunding.  

Steps to Starting a Small Business

There’s a lot of work that has to be done before getting to the fun parts of business ownership, like building a brand and pitching your product or service. If you’re interested in starting a small business, take these steps to get started.

  • Assess the feasibility of your business idea. You have a great idea, but is it a profitable one? It doesn’t matter how much creativity or passion you have if you’re selling something no one wants to buy. Conduct research and surveys to evaluate who your target market is, what their needs are, and how much they’re willing to pay to have those needs met.
  • Obtain licenses and permits. The licenses and permits you need depend on the nature of your business. At minimum, you’ll need to register your business and file for an EIN.
  • Identify key partnerships. Strong networks make strong businesses. Establish relationships with suppliers, retailers, local businesses, and other partners who can help your business grow.
  • Create a marketing plan. Websites, social media, local marketing–today’s entrepreneurs have a lot of opportunities to get their ideas in front of an audience. Before launching campaigns, determine which marketing channels are best for your target audience.

There’s no expiration date on entrepreneurship. Whether you’re 26 or 55, if you have a good idea, you can turn it into a profitable business venture. While starting a business after 40 can feel like a leap of faith, sometimes that leap is just what you need to bring purpose and passion to your life.

Remember “thisisyourbestyear”–look before you leap.

*Lucy Reed has been starting businesses since she was a kid, from the lemonade stand she opened in her parent’s drivway at age 10 to the dog walking business she started while in college. She created GigMine.co because she was inspired by the growth of the sharing economy and wanted to make it easier for entrepreneurial individuals like herself to find the gig opportunities in their areas.

New Isn’t Always Better

I am a sentimental person I will admit, but I can let go of certain things.  There are some things that make my heart smile , and I will always keep them. My husband does not understand this sentiment.  He believes new is better.

Take for instance this quilt that goes at the foot of our bed each day, and when the weather gets a little chilly it warms better than anything electric.

This quilt has been with me since moving to Fort Worth some 44 years ago, and was probably not new when I received it.  As I packed my car to come to Fort Worth, my neighbor Miss Callie came across the street with this beautiful quilt to keep me warm when I needed it.  It was not only meant to keep me warm during cold nights, it was meant to keep me warm from cold people, cold circumstances–it was meant to ward off the coldness of the world.  This quilt was meant to wrap the love of Della Lane around me. It has done all of this and more.

Over the years it has warmed my daughters and now my grandson.  This quilt has warded off all evil spirits. Everyone reaches for this one quilt.  It seems to warm you from the inside to the outside.  Miss Callie’s quilt warms your heart.

Maybe it’s the love that it was made from. Someone made it with love for Miss Callie, and she lovingly gave it to me. 

As the years have come and gone, we’ve had to mend “our” quilt.  My husband once, and only once told me that we should buy a new one.  But now even he knows that the coldness of life can only be warmed by a quilt made with love.  Each time I spread it, or wash it I think of my street on Della Lane, and it warms my heart.

Do you have a keepsake that warms your heart–if so share with us? Remember “thisisyourbestyear”. When you warm your heart it shows.

Cause She’s Not In The History Books

We at “thisisyourbestyear” take this time to honor those that should be in the history books, but are not. Their accomplishments, sacrifices and more all have to be researched and only given one month of the year recognition.

*Since we are a blog for and about women of a certain age, we chose this year to highlight women in American History who are Black. There were so many that it was difficult to narrow it down to one person, but we did. Her story is inspiring.

We are featuring someone that none of us really knew about, we are featuring Mabel Fairbanks who was a figure skater. Mabel was fascinated by skating when she saw a movie featuring then skating sensation Sonja Henie. As luck would have it she found a pair of skates in a pawn shop, and talked the owner down on the price. After purchasing the skates which were two sizes too big, she stuffed cotton in the toes and taught herself to skate. She would go to Central Park to skate in competitions making 6.0’s, but could not join a club because of her race. Therefore, she could not participate in any other competitions or practice at any rink.

She was persistent and eventually one skating rink allowed her to come in after the rink closed to practice. This story is about more than her finally finding her way outside the United States to skate, it’s about Mabel’s legacy.

She may not have gone to any competions because no club would take her, but she was finally able to skate in the Follies in the states, then barred from seeing her shero Sonja Henie by Sonja herself. Her legacy has come to the surface and lives on. Mabel became a coach. Not just a coach, but a coach of champions.

She is credited with helping the careers of US and world champions such as Scott Hamilton, Atoy Wilson, Tiffany Chin, and 1970s champions Tai Babilonia and Randy Gardner, whom she put together as a skating pair. She also coached Kristi Yamaguchi, the 1992 Olympic gold medalist, in her early days, and also first paired her with champion Rudy Galindo.

She’s not in the history books, but she should be. Her strength gives us strength. Because of her, and people like her we can.

Remember “thisisyourbestyear”. Black History is American History.

*Go to our Facebook page–thisisyourbestyear to see more Black women we honor during the month of February because they should be in the history books.

What Happens To The Spouse Of The Alzheimer’s Patient?

What happens to the spouse of an Alzheimer’s patient as they see the person they married slowly taken away from them? I remember first hearing about Barry Petersen and his wife *Jan, and now Dan Gasby and his wife B. Smith.

I’ve even written about the effects that it can have on the spouse, the toll it takes on them both mentally and physically in our April 28, 2018 post Alzheimer’s Caregivers “Til Death Do Us Part”.

These two spouses clearly have made difficult decisions. Are they wrong or right? Is this something that we talk about with our spouses before hand?

What are your thoughts? What are the spouses to do? Remember “thisisyourbestyear”, and sometimes life is hard. We really can’t say what we would do in a difficult situation until we are faced with it.

*Jan Petersen passed away in 2013 after being cared for by her husband.

Ladies Afternoon At The Rodeo 2019 Giveaway

Hey everyone we are back with a great giveaway. This will be our first time giving away a set of tickets to the legendary Fort Worth Stock Show and Rodeo. No boots and/or cowboy hat, no worry just put on your jeans and get ready to have some fun.

This year we are giving away a pair of tickets so that the lucky winner can join us on our ladies afternoon at the rodeo. We want you and a friend to come out for great fun and entertainment. After the rodeo we plan to visit the wonderful shops that offer any and everything from, toys, jewelry, hats, purses, furniture, tractors, saddles, clothing and more–make sure you stop by our friends at Danette’s Urban Oasis. We might even stroll into one of the restaurants including Reata’s three locations at the stock show, or we might wait until we hit the midway and grab one of the non-diet friendly foods while we explore the rides.

Entering the giveaway is simple! To win two tickets for admission to the rodeo on Friday, February 1 at 2 pm and gain admission to the stock show on the same day please complete the following steps:

  • Share this post (on Facebook or Twitter)
  • Make a comment below about why you want to hang out with a group of all around great ladies at the Fort Worth Stock Show and Rodeo.

We will select the winner at random on Sunday, January 27, 2019. We look forward to spending the afternoon with you at the legendary Fort Worth Stock Show and Rodeo. Remember “thisisyourbestyear” and the Fort Worth Stock Show and Rodeo is old school cool just like women of a certain age.

Remember there is construction around the area so you might want to use Uber/Lyft or get there early.

Reset and Reinvigorate by Rethinking Your Career in 2019

*Guess post by Eva Benoit

If you’re stuck in a rut, there’s no better time to pull yourself out than now. It’s never too late to make changes that will improve your quality of life. Starting a new career is one of these changes, and it’s a big one that comes with both enthusiastic anticipation and fear for the future. However, you can’t let fear of the unknown get in your way. Keep reading for a few tips on how to cross this fragile ground no matter where life has taken you to this point.

If you are stuck in a rut, there’s no better time to pull yourself out than now. It’s never too late to make changes that will improve your quality of life. Starting a new career is one of these changes, and it’s a big one that comes with both enthusiastic anticipation and fear for the future. However, you can’t let fear of the unknown get in your way. Keep reading for a few tips on how to cross this fragile ground no matter where life has taken you to this point.

Do You Have What It Takes?

What do Oprah Winfrey, Sofia Vergara, and Arianna Huffington have in common? They are all successful female entrepreneurs who aren’t afraid to take risks, they’re all tenacious and a little stubborn, and they give of themselves 100 percent of the time. They are adept problem solvers who aren’t happy unless they’re on the move. If this sounds like you in more ways than one, you were undeniably born to be the boss.

You Are Not Alone

Our mothers and grandmothers were expected to stay home, raise babies, and make life better for their men. These social standards weren’t necessarily bad, but considering that women-owned businesses are growing at a rate of more than twice that as standard businesses, it’s safe to say that we got restless. Coupled with an ever-growing need for dual incomes, women-owned businesses, according to American Express, are more prominent than ever, with approximately 39 percent of all US businesses being led by women.

Despite the rise in female entrepreneurship, it’s not always easy. Today, experienced women are offering their guidance to new business owners. Reaching out to a mentor is one of the best ways to access information and receive help navigating the seas of success. Experian touches on mentorship, funding obstacles, and other statistics regarding women in business here.

Like a Boss

Starting your own business isn’t something you do on a whim. If you want to stand out from the crowd, you’ll have to take stock of your skills and define your niche. Have a heart-to-heart with yourself by drafting a business plan and recognizing your strengths and weaknesses. Test the waters by seeking clients via word-of-mouth and working on small projects first. FindLaw.com underscores this point by stating, “By starting small, you ensure that you can survive the inevitable hiccups associated with running a small business.”

Once you get into a groove, you can take steps to nurture and grow your business. This is achieved by being consistent and having the right tools at your disposal to get the job done. If you work from home, for example, you’ll need to set up a well-equipped office space with a comfortable working area and a computer that can keep up with your demands. Further, don’t make the mistake of thinking you know everything; listen to your customers. They will tell you what you’re doing right and what you need to change. As the face of your business, it is your responsibility to hear these voices and to provide services that will add value to your relationship. It can help to take a customer service training course to help you learn how to communicate and respond to both praise and criticism.

It doesn’t matter how old you are or how long you’ve been in your current profession. Even if you’re retired, it’s still possible to earn an income doing something you love. It may be a rocky road in the beginning, but with determination and a willingness to adapt to an always-changing market, you can both love and live your passions this and each new year.

Remember “thisisyourbestyear”. It’s a new year, and time to reset and
reinvigorate your purpose by rethinking and your career.

*Eva Benoit is a professional life, career and wellness coach. She specializes in helping people with anxiety and welcomes working with people from all walks of life.

Dementia–Might Just Be Menopause Transition

Just read this article The Brain Fog Of Menopause Can Burn Off by Jane E. Brody. It talks about the effects of menopause on memory, and the misdiagnosis of the symptoms leading to some doctors falsely informing patients that they have frontotemporal dementia.

I don’t know about you, but I have been there, and am still there. I’ve started to read with intention, and I even take pictures of where I park at the airport. Don’t laugh it helps.

Take a look at the article, and remember “thisisyourbestyear”–this too shall pass.

thisisyourbestyear–2019

It’s about to be 2019. 2018 was a wonderful year for “thisisyourbestyear”. We hope that you have enjoyed the ride. The ride tried to inform, educate, give you laughter, keep you engaged and more. It is our hope that you are ready to continue this journey.

In all of these activities, events, seminars and other things we have always wanted to inform you. Being women of a certain age, we wanted to show you that the world is now ours to do with as we wish. Sometimes we couldn’t believe what we talked about.

In 2018 we expanded our social media outreach. Not only are we on Facebook and Twitter we finally made the leap to Instagram plus we even do Instagram TV. We’ve tried to post to at least one of these outlets on a daily basis. We even did our first podcast this year–it was great (Inspired to Greatness with Matt Blake). We were excited that Dallas Voyage Magazine labeled us an “Influencer” (April 25, 2018).

As we enter 2019 we are excited to see what it will bring. As we have previously found out there is so much to do, see and learn. So 2019 should be even better. We are here for you.

We’ve already started on our review of Clark’s Botanical Skincare. It is a review that will take us approximately six weeks to conclude. You can find out more about the beginning of this review on our Instagram TV channel (thisisyourbestyear) or on our Facebook Page (thisisyourbestyear).

Here are some of the things we talked about in 2018

We are looking forward to sharing even more with you in 2019. Let us know what you would like for us to talk about, events that you would like for us to cover and more. We will try our best to meet your request.

Thank you for voting us Best Blog/Blogger 2018 in the Star-Telegram’s Fort Worthy Contest.

Please follow us on our social media sites at Facebook, Instagram and Twitter.

Remember “thisisyourbestyear”. Happy New Year. 2019 is going to be great. You are not too old!

Shopping Small With Women Owned Businesses

shop small 2

Don’t spend all of your fun money during Black Friday or Cyber Monday. Save a little money for Shop Small which will be on Saturday, November 24, 2018. Women of a certain age are a large percentage of the many small business owners. In many instances these women are now doing the jobs they have a passion for.

Take a look at the small businesses in the slideshow below. You might find something that catches your interest. These businesses are all female owned.

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Click on the links below to see more about the small businesses in the slideshow. They are all located in the Dallas Fort Worth area.

In the comment section or on our Facebook page, give us the name of a small business you frequent, their website and the city in which they are located. Word of mouth is great advertising.

shop small 5

Remember “thisisyourbestyear”. Shopping small can have big benefits.

Interview Prep: How To Get Ready To Snag The Job Of Your Dreams

by Erica Francis

Interviewing for a job–especially when it’s a job you really want–can be overwhelming and stressful, which can cause issues for you when you’re speaking to the person in charge of hiring. You want to be relaxed, confident, and prepared in order to show how well you can handle yourself under pressure; this will give your potential employer a good idea of what you’ll be like if you’re hired. It’s not always easy, so it’s important to prepare as much as possible before the interview so you’ll feel comfortable.

Fortunately, there are several things you can do to get ready for the big day. From holding a mock interview to get familiar with possible questions to looking for ways to boost your confidence, you can start preparing weeks ahead of time. Ask a friend or family member to help you out, and start thinking about your physical appearance as it can be important when it comes to a first impression.

Keep reading for some wonderful tips on how to prep for a job interview.

Hold a mock interview

Ask a friend or family member to help you hold a mock interview; you can find some possible interview questions here. Thinking about your answers will help give you confidence on the big day and will prevent you from fumbling over your words when speaking to your potential employer. Think about how you want to present yourself, and write down sample answers to prepare; remember to speak eloquently and professionally, as this will reflect on you and your ability to interact with clients.

Get ready for your first impression

First impressions are incredibly important when it comes to job interviews, because it’s your chance to let your employer know what you’re all about. Don’t underestimate the power of a great outfit or a good haircut, and consider buying some new makeup or hair styling tools to help boost your confidence and give yourself a leg up on the competition. Go here for some great tips on how to get started.

Do some research

It’s imperative to do some research on the company you’re interviewing with so that when you’re asked what you know about their history, you can show how invested you are in the job. Get online and find out how many people they employ, what year they were founded, who the president is, and what their goals are. For instance, many companies these days are making more of an effort to go green for the environment; if this is important to you, it’s a great talking point in the interview.

Get some sleep

It can be difficult to get good rest the night before the big day, especially if you’re nervous. However, it’s imperative to get a good night’s sleep so you’ll be fresh and at the top of your game. Put away all screens–computer, television, and smartphone–at least an hour before you go to bed, and refrain from drinking anything with caffeine or eating meat (which is hard to digest and can interfere with your ability to go to sleep).

Getting ready for a job interview can be nerve-wracking, but it doesn’t have to be overwhelming. The best way to stay calm is to prepare as much as possible beforehand, and to give yourself plenty of time to do it so you won’t feel pressured. With a good plan and a little help from a loved one, you can make sure you’re ready to blow away your potential employer and snag the job of your dreams.

Remember “thisisyourbestyear”–be prepared to nail that job interview.