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Workshop Introduction

People in their fifties and sixties frequently tell me that they'd love to start their own business but say that it seems too financially risky at their stage in life.

An understandable feeling, but one based on out of date information.

When I launched my first business in 1988 most small businesses operated out of office or retail space, both of which required signing a lease and paying $1,000 or more per month in rent.

Add in insurance and utlities and this immediately required that to survive a new business had to generate at least $15,000 in annual sales.

And in the Pre-Internet days the two most often-used ways to gain attention for your business were through direct mailings and  newspaper ads, both of which required a minimum investment of $600 each time you used them. If you did an ad or mailing every other month during the year, you were now investing almost $4,000 more!

And on top of these two big expenses you still needed to pay yourself.

So, in the "good old days" a typical start-up entrepreneur was looking at having to make at least $20,000 in sales before he was able to pay himself a nickel of income!

This is why many people over age 50 think of starting a business today as "too risky" - they are still thinking of the old business model.

But, this is not the way it is today.

"This is one of the best workshops I've ever taken. Jeff encouraged us to ask questions and took the time to thoughtfully answer them. The workbook is very easy to use".
- Miriam Stein

We've built our Ultimate Boomer Business Start-Up School around what we like to call our "Lo-Hi" formula.

This is shorthand for the proven process we use to guide our clients to launch businesses that have very Lo(w) business expenses but very Hi(gh) profit.

Now, you're undoubtedly wondering: "How is this done?"

There are the six keys to achieving our Lo-Hi Formula:
 
How To Acheive the "Lo"
 
Key 1. Work from a home office.
 
For most businesses today, your customers or clients don't care where you are located because they are often buying from you based on telephone or Web communication.
 
A home office immediately eliminates the $15,000 outside space expense.
 
Key 2. Use an inexpensive website and email marketing to promote your business.
 
You can host a website for around $8 today and any of several top   e-mail marketing services start at just $15 per month - that's less than $25 per month for promotional expenses.
 
Key 3. Save money on necessary start-up costs by buying online.
 
For example, in the "old days" it often cost a $1,000 or more to incorporate your business using a local attorney. Today, using our preferred online vendor, you can complete incorporation for less than $300!
 
And it used to cost $500 and up to have a local graphic designer create a printed selling brochure for your business. Today, our preferred online vendor offers 150 professionally designed brochure templates for just $99 each!
 
Now, it's all well and good to have a plan to keep your business expenses as low as possible. But, you really only see the benefit of the "Lo" part of our formula if you also achieve the "Hi" part - that is to maximize your profit. Let me explain how we help you do this.
 
How To Acheive the "Hi"
 
Key 4. Satisfy a variety of needs and set different prices for different needs.
 
You have plenty of space on your website to tell as many product or service stories as you wish. And using common Web navigation techniques you can guide website visitors based on their very specific needs.
 
For example, one of our consulting clients sets his prices based on how much of his "think" time he has to put in. If he is interpreting a test report for a client he charges $100 per hour. If he must make an in-plant visit, he charges $1,200 per day plus travel expenses. He has room on his website to explain the benefits of each service he sells, which goes a long way to explaining the pricing.
 
Key 5. Create as many different ways as possible to sell your knowledge and experience.
 
When I create a new how-to article, the first thing that comes into my mind is how many different ways can I "package" the same information for sale. Here are a few examples: Sell an ebook, offer a teleseminar, offer consulting built around the problem addressed in the article and do speaking engagements centered on the problem addressed in the article. This is called "multiple streams of income".
 
Key 6. Use the Web and e-mail to create marketing partnerships.
 
The first thing most people do today to check you out is to look for you on the Web. Offer solid background information on yourself, including success stories, and chances are good they will want to talk to you on the phone to discuss opportunities.
 
As an example, this summer I launched a joint marketing venture with a partnering company in the UK. This whole relationship started with one of their principals reading my comments in a U.S. business magazine and sending me an e-mail inquiry. We then used Skype to speak live a few times until we understood what each of us wanted and that lead to a written joint venture agreement. No travel expense...and Skype is free!
 
Our Lo-Hi formula is the bedrock of the success our clients enjoy after completing our award-winning business launch coaching program.