Entrepreneurship vs. Employment – What’s Your Choice?

So maybe you have a job that pays at least some of the bills – or maybe 2 jobs and you’re barely making ends meet.

Did you know that most women after the age of 40 will experience some form of ageism in the workplace – be it subtle or overt. It’s a known fact that ageism at work begins for women at 40 and 45 for men when they are no longer considered for promotion or training!

Imagine that!

You’ve given 15+ years of your life to a boss, who after you get to a certain age decides that due to your age you are no longer promote-able!

Does that get you pissed off? It should!

The Great Recession and now life during Covid-19 has cut the legs out from under us because over 20 million people are out of work – especially if you are a woman over 40! These women are simply walking away from the job search now because they just can’t find one that is suitable for them!

What are your plans for YOUR future? Are you going to suck it up and just do what you’ve always done and expect a different result as you age? Well, you know what the definition of insanity is, right? Well that’s it!

I suggest that you embrace the New Normal!

The New Normal these days, is that we women over 40 are starting businesses of our own – in record numbers.Now obviously starting a business is NOT EASY at any time in life, much less when you’re at this age! Sometimes you become a small business owner out of desperation rather than inspiration! Try being an unemployed Woman Over 40 attempting to get a job in today’s marketplace! You’ll have better luck at being struck by lightning twice!

You also need to KNOW yourself.

Which statement sounds more appealing to you?

“I want the comfortable life. I want or need stability in my life. I do not want to risk my comfort, and I value my free time to be able to relax.”

OR

“I bet on myself and that excites me! I like taking risks because I want the rewards they offer. I love to work, and I want to keep growing. I am very ambitious, and I can handle being in a position of discomfort.”

The first statement best describes employment. It is an easy path to follow because you know all the steps, and if not, you can find all the steps. You will encounter comfort if you are doing your job right, and if you don’t age out of the work and get laid off as the work force gets younger and younger. You have a set schedule, and you know exactly when you switch your mind from work to family (usually 5PM Mondays to Fridays).

The second statement describes entrepreneurship. To be an entrepreneur you kind of need to embrace the fact that your schedule will be all over the place, and you will be thinking about 100 things at the same time while usually never knowing when the next time to relax will be! Additionally, the work is a grind – but you love it as you’re pursuing your dream because you love that what you are creating is yours! Your life will be unstable and unexpected, but you will love everything about it because your ambition and dreams are too big not to be pursued.

As you can see, these lifestyles are very different. Entrepreneurs and employees are both necessary in this world, so no matter what path you choose, understand that you are still valuable to this society.

I am Felicia Lopes and I own and run a business called BusyGal.

Welcome to the World of BusyGal

I am also a Black woman and I help Women Over 40 get educated, and re-establish and re-invent themselves as entrepreneurs through my online entrepreneurial classes, coaching, masterminds, small business services, opportunities, and global branding opportunities through my new ROKU television channel – BGTV.

If you are ready to embrace your own possibilities as a new entrepreneur, but you really have no idea what kind of business you want to start, I have created a FREE booklet entitled The Top 40 Small Business Ideas for Entrepreneurial Women Over 40 which is jam packed with million dollar ideas for new businesses and links to get you started.

Basically it is designed to get you thinking about what you are passionate about and how you can make a nice living doing it. If you’re looking for a great idea for a business, look no further. Just download my FREE booklet today by clicking the box that asks you if you are struggling to find your million dollar business idea when you go to my website – BusyGal! www.busygalcorp.com.

7 Strategies to Increase Cash Flow in Your Small Business

Would your small business benefit from a higher rate of cash flow? It’s possible to increase it through several business strategies.

Try these strategies to increase your cash flow:

1. Reduce your spending. Decreasing your spending is one way to increase your small business cash flow.

1. The first step to implementing this strategy is to carefully analyze all of your business spending. How much do your office supplies and electrical bills cost every month? How much do you pay for insurance, employee salaries, and other bills?

2. After analyzing your spending, look for areas that can be reduced. However, it’s important to approach spending cuts carefully because pay cuts can drive away employees. In addition, if you try new services to save money, the quality may not be the same.

3. Extend discounts for fast payments. If you’re trying to encourage your customers to pay faster to increase your cash flow, then discounts for fast payments may help.

1. The discount doesn’t have to be large, but customers may appreciate a small amount of savings. Try several payment plans with different discount levels to reach more clients.

2. Watch your inventory. Are you investing a large portion of your cash into inventory?

1. Inventory may be the lifeline of your small business, but you don’t want it to destroy your cash flow. The boxes of shirts, candles, or other items you sell shouldn’t sit in warehouses for decades.

2. Find a balance between having enough inventory to satisfy customer needs and having too much.

3. Raise your prices. Are you keeping up with inflation? You might be able to raise prices on your products and services to keep up with the market.

1. Higher prices can lead to more cash flow, but they may also scare away customers. Find a balance that works for your business and your customers.

2. Consider collection agencies. Do you have a large number of customers who haven’t paid their bills?

1. Collection agencies can help you recover a portion of the unpaid bills. They charge a fee and take a percentage of the money. However, you may not have the time to pursue the customers who haven’t paid.

2. Consider court. For larger amounts, you may have to get a lawyer and take your customers to court for unpaid bills. This is one way to make your cash flow higher because it can force them to pay their overdue bills.

3. Offer prepayment rewards. You can offer a variety of rewards ranging from discounts to extra products. You can make a special rewards program with gift cards or other items.

1. Customers who prepay for large packages, services, or multiple items could receive extra rewards. These rewards can encourage them to stay and keep buying your products or services.

Your small business may benefit from more cash flow. Creating a customer rewards program with sales, discounts, and other special rewards is always a good idea to expand your customer base and gain loyalty to your business. Incorporate several of these strategies into your business operations to discover what works best for you.

Create a Vision for Your Life Today

You’ve probably heard that you can only get where you want to be if you know where you’re going. This pithy statement is as true now as the first time it was said. So how do you come to know where you’re going, so you can get where you want to be?

To start with, goals are crucial. When we set goals, what we’re really trying to do is to bring each piece of our lives in line with our overall vision for ourselves. Using a powerful vision-setting process can help you set more effective goals, since you can chart a course that will take you toward and support your vision.

Do you have a vision for each segment of your life? Do you know where you’re headed spiritually, socially, relationally, physically, financially, and more?

Use this process to help you create a vision that works for you:

1. Write down your vision for a particular aspect of your life. Write a couple of paragraphs describing what you’d like to have or be. There’s no right or wrong. In fact, you probably won’t precisely articulate your dreams the very first time you try the exercise. A reasonable guess is a good place to start.

1. In writing your vision, avoid focusing on what you don’t want, because this will only bring about more of that. Turn your back on negativity and focus on what you do want to bring about.
   

2. For example, if you want more money: Avoid wording your statement like: “I don’t want to be poor anymore.” Instead, envision what it would be like to be rich, which is what you want, and write about what that would be like for you.
   

3. Although you may feel challenged when first learning to focus on what you want, it gets easier. Plus, the rewards are spectacular when you can do it consistently. You’ll start to notice that your life seems as if you can change it at will, which you can.

4. Visualize. Read your vision statement 2-3 times a day and imagine that aspect of your life matches your vision perfectly. How does your vision make you feel? Are you really excited and enthusiastic? Is it appealing to you on all levels? This shouldn’t take more than 60 seconds to do each time.

5. Refine. If you feel really good about your vision, that’s great. If not, now is the time to make some alterations. Continue refining the image of your dream life until doing your visualization feels spectacular. Re-write each new version.

1. At this point, you may be wondering when this process ever ends. Fortunately, it never ends. Your vision will forever be changing slightly throughout your life, which is good, since your desires will also change over time.

2. Review your vision daily and ensure that it continues to attract you. This will rapidly usher change into your life. In turn, these changes will demonstrate that you’re actually moving towards that vision.
   

3. Create separate vision statements for all the areas of your life. Consider your finances, relationships, adventure, health, social life, and spirituality. If you can get all these visions to look just the way you want, imagine what your life will look like!

Why Spend Time On This Process?

Consider all the things you do every day. Everything you do is either helping you reach your vision or helping someone else reach theirs. Wouldn’t you rather help yourself reach yours?

Creating a vision is the first step to creating the life you desire. Tweak your visions a couple of times a day and really focus on the experience of living that vision. This gets easier all the time, because imagining something enjoyable is pleasurable in itself.

Don’t hesitate; create your visions today. Then, start reviewing and improving them immediately. Your life will change rapidly for the better. You’ll then be spending your time making your own visions a reality instead of making someone else’s dream come true.