This article is intended for probably your significant other or spouse to read… I felt compelled to write it talking to them about your needs since my marriage went south due to the lack of much of this. If you currently don’t have one, give it to a family member or friend and/or save for Mr. Right later! Enjoy and hope it helps!

Did you know (you, meaning the non-entrepreneurial spouse of an entrepreneur) that your entrepreneurial spouse (or significant other – just as important in this scenario) takes on a huge responsibility when they start their own business?

Granted, some of the smaller, home based type business owners could be out there just to make a few extra bucks for fun or they’re doing their business for a hobby, not truly a serious business venture.

However, I’m not talking about them here, I’m talking about actual entrepreneurs (home based or not) who are in business to turn a profit AND provide products and services they are passionate about.

I’m also talking about the ones who are your significant others or spouses (so forward this to them if this is the other party – you’ll be glad you did) in which case YOU are also NOT an entrepreneur yourself and frankly wouldn’t want to be….is this you? Did you know that your spouse may not be getting the kind of support they need in order to be fully confident and successful in their business? (yes, by you) And in order to be completely successful at running your own business CONFIDENCE is the key!

When you have a job working for someone else, often you can succeed without that much confidence but when it’s your own business…there’s absolutely NO way.

Did you know that your spouse may not know how to communicate this need to you?

Now, two things can happen here….

1 – you won’t care and you’ll stop reading this or 2 – you’ll care but you’ll have no idea if this is true or even how to find out what your spouse needs exactly (hopefully you’re still reading…)

If #1 occurred then you’re probably on your way to divorce anyway so your situation is most likely not fixable.

If you’re in alignment with #2 though then GREAT! But now what?

There are basically 2 things you can do to support your spouse in business (even if you don’t have any involvement in their business, know what they do or want to know).

You can either take Action or Non-Actions. Actions consist of ways to physically help out or support your spouse.

Non-Actions consist of ways to emotionally and mentally help out or support your spouse.

Your spouse unfortunately needs both in order to feel fully supported, loved and encouraged (that’s the hard part, it requires some work).

But let’s break it down…

Actions

o helping – when asked for help

o learning – about what they do and how else you can support them

o listening – to requests, feelings, emotions and needs o loving – at all times in various ways that are noticeable

Non-actions o understanding – they need to do it ‘their way’

o giving – of your energy when they need it the most regardless if asked

o sharing – feelings, emotions, questions and concerns

o expecting – nothing but complete and utter happiness among all

Of course there’s so much more to it than this but that’s what marriage counselors are for right?

No, seriously…the one way to learn better how to communicate and support your entrepreneurial spouse is to start the dialog, practice this stuff, ask what they need, learn more about what others are doing and then get help as needed

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Follow Your Passion

It is not enough to want your own business. You must find the business that you are passionate about! Your business must be in alignment with your personal goals, values and passion. When I was growing up, I was heavily involved in theatre and dancing. I toyed with the idea of obtaining a degree in musical theatre and moving to New York to pursue a career on Broadway. However, I was cautioned not to do this unless I was wildly passionate about it because the rejection was so incredible and the industry was so competitive. Do these obstacles sound familiar? They are very similar to those experienced by entrepreneurs. However, when you do something that you are truly passionate about, it’s easy to get out of bed and feel excited and energized by your work! In addition, it is much easier to find ways to stand out in a competitive market and to do great work for your clients.

Have a Vision

In business, it is critical to pay attention to the right details. Planning is crucial to success. It’s a well-known axiom that if you fail to plan, you plan to fail, and yet I regularly hear from entrepreneurs who do not plan! Without a plan in place, it is too easy to get distracted by whatever happens to come your way. If the opportunities (seminars, speaking engagements, networking opportunities, article requests, etc) are not in alignment with your vision, they will take you off course, and you may not meet your end goal and your vision will become, well… blurred! Think about this before you say “yes” to the next thing that comes your way. If it is not going to help support your goals for this year, month, or week, your decision should be very easy. Just say no.

Find a Way to Be Held Accountable

Many of us go into business to be able to flex our creative muscle. We like coming up with wonderful ideas, but implementing them is not as fun as the big-picture thinking! Our new idea sounds great, and the potential revenue is exciting, but the tasks we need to do to get there are overwhelming and we can’t seem to make any headway on the project! So we procrastinate and find other things to occupy our time, until we eventually take the wonderful creative idea off our “to do” list because we don’t want to or know how to do the work to get us there. This is a waste of your creative spirit! Successful entrepreneurs find ways to be held accountable, whether it’s through membership in a round table or mastermind group, forming an advisory board, entering a formal partnership or hiring a coach to keep them on track.

Spend Your Time on High-Payoff Tasks

Everyone knows that in order to stay in business, we must continue to bring in revenue. However, many entrepreneurs spend too much of their time doing activities that don’t generate income! So what is an entrepreneur to do? Delegate! By outsourcing all the tasks that don’t include generating money or building relationships, you will be able to use your newly found time to make more money! Your time for high-payoff activities (planning, forecasting, developing your marketing funnel, training, and so forth) will increase and in turn, your productivity will increase. There are many virtual professionals who you can hire to do the work you need to outsource and could include anything from accounting to administration and beyond. Once you do this the first time, be prepared to be addicted to this concept!

Focus

How many projects do you have going on at any one time? Or worse, how many businesses are you running at one time? I recently met a woman who has three businesses, and she was complaining that none of them were doing well. Gee, I wonder why? Having too many projects at one time, particularly if you do not have a way of managing each of them properly, means that you’re likely to become overwhelmed. Pick a project or two and focus on those. You will feel so great to knock something out and will be motivated to continue onto your next task. If you are spread too thin, I can guarantee you that you will sabotage your chances of meeting your goals.

After assessing where you are in these five lessons, you can start to see what you need to focus on. Whether you feel confused, struggle with self-confidence or lack tangible results, I suggest taking action to find out if you’re following your passion and determine your measuring stick for success. If you are easily distracted or overwhelmed, I suggest finding a coach who can help you align your goals, priorities and values to create the life and business you desire. By paying attention to these key areas, you can start to shift to creating a business that fits your lifestyle, not one that dictates it, which is one of my personal measures of success.

Copyright © 2009 Meredith Liepelt

Meredith Liepelt, President of Rich Life Marketing, publishes Smart Marketing, a free bi-weekly ezine featuring marketing tips, insider secrets and thought provoking articles designed to help the busy female entrepreneur become known as an expert in her field, build trust with clients and prospects and generate more income than ever before. Claim your free subscription today at http://www.richlifemarketing.com

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As 81 million American baby boomers begin to move into their retirement years, they are redefining what retirement means. For many, it doesn’t mean they’ve stopped working, but rather that they are exercising more choice over how they work. According to a 2009 survey, some 75 percent of people who chose to engage in some form of work found the work satisfying, and in four out of five cases, they were able to find white collar jobs for what are known as “encore careers.”

Picking the perfect second act for your career can involve trying a field that’s always interested you, helping out with a cause that you believe in, or getting a chance to run your own business.

If it’s running your own business that appeals to you, chances are you don’t want to sink a large chunk of your retirement savings into a new venture at this point. Therefore, the key is getting started with minimal investment up front. This is very possible these days, depending on how you set up your business, and what type of business you choose to go into.

Getting Started with a Shoestring Budget

To start a business with relatively little up front capital, the key is to minimize fixed costs. Variable costs–expenses of the pay-as-you-go variety–are preferable because they allow you to ramp up or scale back investment depending on how the business is going.

Here are some key tools for keeping fixed costs to a minimum:

- E-commerce Solutions. Who needs a business location when you have the Internet? The ultimate low-overhead storefront, the Internet gives you access to a world of potential customers. Utilizing e-commerce solutions is much cheaper than having a physical place of business where you receive customers. For example, it allows you to avoid the many expenses of having a retail outlet, such as rent, utilities, staffing, and insurance.

- Outsourcing Back Office Infrastructure. Rather than building a complete organization from scratch, try to outsource anything that isn’t central to the unique value proposition of your business. For example, functions such as customer support, credit card processing and human resources are only needed occasionally or periodically. Therefore, it makes more sense to utilize outsourced call center services for telemarketing or customer support or HR outsourcing for human resource activities than to try to staff it internally.

- Use Online, Social Media Strategies to Promote Your Business. Developing a full scale online social media strategy can seem overwhelming at first. But you can implement simple things by hiring interns to do the leg work such as starting a blog or using Twitter, and tracking different programs making adjustments along the way.

Low-Cost Small Business Ideas

If the above are some techniques for structuring a business with minimum up front investment, what are some lines of business which lend themselves to getting started with minimal capital? One rule of thumb is that services generally require less investment than manufacturers or retailers, though with e-commerce some re-sellers can operate cheaply if they have tight supply lines and add value in the process. Focusing on services, the following are some examples of businesses that might be right for the current environment, and can be started on a shoestring.

- Business consulting. If many retiring boomers are going to be starting their own businesses, why not use your business experience to help show them how to do it?

- Green consulting. People are striving to become more energy-efficient, for economic and environmental reasons. If you have expertise in this area, consulting with businesses and homeowners on how to reduce their consumption is a natural.

- Public relations. If you have media and promotional experience, you could be in demand with the new wave of entrepreneurs starting their own businesses. In particular, bringing knowledge of modern promotional techniques such as social media strategies could be valuable to these new businesses.

- Employment counseling. Between a weak economy and an aging population, there are many people facing a career crossroads these days. Helping them find the right niche can be a good way to make use of any personnel experience you have.

- Online Lead Generation. Sales Lead Generation is growing by leaps and bounds as far as start up industries are concerned. This is a very special industry that affords flexibility and freedom that is unparalleled. And, there is even a significant demand for highly specialized lead generation consultants to help companies generate qualified sales leads in this market.

Running your own business may not have been your parents’ idea of retirement, but things are very different today. If you have the entrepreneurial itch, starting a venture might just give you the satisfaction and extra income to make your “golden years” more than just an expression.

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