5 Reasons to Invest Money in Your Entrepreneurial Business

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SHOW A PROFIT

“You need to spend money to make money.”

– Playwright Titus Maccius Plautus (c. 254 – 184 BC)

The playwright Plautus was most likely referencing the theatre with this quote, but it’s true to your own business, no matter its size. You must spend money to make money. Any business that doesn’t invest in its team and marketing assets will only hurt its bottom line profit.

Invest in Your Team and It Will Show in the End Product

If you want to play in the world of entrepreneurship and business, you have to look the part to build a start-up. No one will take you seriously if you don’t provide the quality of expertise you pretend to offer. That applies to every niche and attempting to build a footprint in every industry. Every element from marketing to design matters to the audience. Perception of authenticity is critical.

5 Reasons to Invest Money in Your Business

It doesn’t cost a fortune to create a successful entrepreneurial business. If you’re smart and savvy about your investments, you’ll see profit instead of losses. But you must invest money to show profits.

  1. Professionalism. It’s professional to pay your team. Do not barter or attempt to trade services with friends or new potential clients to deliver the bare minimum in results. This is weak and embarrassing. Word travels quickly. If you have no capital to invest in your own business, no one will want to be in business with you either. Set a budget and pay for all professional services rendered or consider getting a day job while you save money to invest. Either be professional or don’t start yet.
  2. Audience Respects Advertising Dollars. During the start-up of your business, you need to set a budget to invest money in advertising. Find your audience. Do your research. Meet them in their environment and gain their respect. Build early clientele by word-of-mouth and then start investing in advertisements. Do not use kickbacks, referral fees, or any other shady (potentially illegal) technique to build clientele. Build your business the respectable way.
  3. Clients Want an Original Experience. Invest in an original experience for your clients. Set a budget so website specialists or consultants can help you create and execute your vision. When a potential client sees an offering of a special experience, they’ll want to be a part of that experience. They want to belong to something extraordinary and life-changing.
  4. Pay for Training or Pay for Your Team to Be Trained. This is the reason bigger businesses have on-going training programs for their employees. But smaller businesses need to invest in training to remain competitive. It is important to either take professional-grade training or pay for your team to be trained in using professional programs. Potential clients notice a novice and won’t engage in your business.
  5. New Products Offer New Potential. Invest in changing the business offering to grow your audience. With every expansion or addition of a new product, give it a new name with a heightened experience. Maybe you add a new product, a VIP offering, or a Master Class to help clients. Always consider the market and get feedback from the customer. What do they need? What do they want? Consider how your business can answer those needs. Adjust your offer and deliver.

Start-ups are very difficult. The truth is that most start-ups fail for a variety of reasons. Lack of capital investment is one of the biggest reasons start-ups fail. Investing and reinvesting profits are critical to finding success.

If you do your research, develop a service or product that the market needs, invest in your business, and adhere to a budget, you may show a profit and find success. Every stepping stone, no matter how small, can lead to a bigger stone and potentially a mountain of success. Think positively. Be smart and proactive. And most importantly, invest financially in your business.

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Employment a Game of Chance for the Over 40 Crowd: 4 Ways to Roll the Dice on Income

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CRISIS OF EMPLOYMENT.

Never in a million years did I think there would be a crisis of employment for people over the age of 40 . . . until I was over 40.

Clearly the government did the research because the over 40 crowd is often treated differently.

The Age Discrimination in Employment Act  “forbids age discrimination against people who are age 40 or older . . . Age discrimination involves treating someone (an applicant or employee) less favorably because of his or her age. The law forbids discrimination when it comes to any aspect of employment, including hiring, firing, pay, job assignments, promotions, layoff, training, fringe benefits, and any other term or condition of employment.”

DISCUSSING AN APPLICANT’S AGE IN A JOB INTERVIEW.

If any representative interviewing you for a job asks your age or discusses your age to prevent you from being hired, it is illegal and age discrimination.

Oftentimes, anyone who is over 40 is judged immediately due to their age.

“You’ve been out of the workforce for a year so I expect you’re not up-to-date on the computer programs.”

“Why did you take time off to stay home with your kids?  Now, you’re outdated.”

“You’re disqualified because you have too much experience and the company wants someone with only one to two years of experience, not five years of experience.”

“You’re overqualified for this entry level job geared at college students or people in their 20’s.”

“We only hire people in their 20’s. The oldest employee working at the company is only 38 so you’re not what they want.”

Thousands of lawsuits are filed every year regarding workplace discrimination and age discrimination. Look at the statistics from 2014 and 2015.

JOB ADVERTISEMENTS REQUIRING A YOUNG AGE.

If you’re looking for full-time employment and you’re over the age of 40, you know the buzz words that deter the over 40 crowd from applying for a job: recent college grad, recent high school grad, young and energetic, young and motivated, and the list goes on.

Guess what? Suggesting an age limit as a requirement for hiring is also an illegal practice.

WHO DECIDED 35 IS TOO OLD TO WORK FULL-TIME?

What’s even scarier is that 35+ is being viewed as too old to work in the tech world.

When did 35 become the new age for being outdated in any industry?

There’s a high turnover in the tech world as employees in their 30’s are being replaced by employees in their 20’s. If you work a full year or more in the tech world at one company, you’ve had a great run.

OLDER WORKERS STRUGGLING TO FIND FULL-TIME EMPLOYMENT.

Some businesses see it as business sense to fire older senior employees and save the company money by replacing them with younger employees. As a result, those older displaced workers are struggling to find work.

In today’s world, older workers are often hired as freelance consultants, independents, part-time employees, or not considered at all.

Retirement is no longer guaranteed at the age of 65, as more workers must work into their 70’s just to survive. People are living longer, so they have to find a way to support themselves.

YOU MUST EARN AN INCOME. 

You could spend all of your time filing complaints and lawsuits against companies for age discrimination or you can take action to gain income.

Reality check. You have bills to pay. You need shelter so you have to pay rent or mortgage. You have to pay car insurance and gas. You have to pay for electricity and Internet access. Most importantly, you need food on the table for you and your family.

Fact. You can’t live on credit cards forever.

Even if you decide to file a complaint or a lawsuit regarding age discrimination, you need to work. You need to become proactive in your employment search. Start making changes for your future today.

4 WAYS TO ROLL THE DICE ON INCOME.

  1. Consider Consulting. There’s nothing wrong with becoming a freelance consultant in your field of expertise. Older employees with a wealth of experience have so much to offer big companies, small companies, and individual clients.
  2. Become a Freelance Author. Show your expertise and establish yourself as an expert. Use your self-published book as a business card for your next job.
  3. Become Active on Social Media. Join the tech world and play with everyone in the pool of employment. Connect with companies you want to work with on social media. Share stories in your area of expertise, write a blog and then post it on LinkedIn and Twitter. Share. Share. Share. Don’t fight technology; instead, acclimate and join.
  4. Re-Training. If you really want a full-time corporate job, re-train, and self-teach. Be a life-long learner. Study, read, and take action. Learn new computer programs and apps. Show the next employer that you’re in the playing field and ready to be an asset to the company.

Every applicant of every age has something to offer the workforce. If you’re competing against a variety of applicants, you need to make yourself stand out from everyone else.