Welcome to the Small Business Roundtable

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Re: Welcome to the Small Business Roundtable & Jobs

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Thank you to all who participated in this month's Small Business Roundtable event. To keep up on all Work & Jobs activities, find in the AARP forums and on our website at https://www.aarp.org/work/.

 

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Did you know? AARP Brand Ambassador Daymond John is offering three interactive courses to help workers and budding entrepreneurs 50-plus find success. Courses are free to members and non-members. Visit the Training Center today, then return to the forums to chat with your classmates!
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Re: Hobby to Profit

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@retiredtraveler that is good advise for our budding semstress business owner.  As you can see there are many ways to use your talent - serve as a tailor or outright create and make items to sell.  I will defer to @KeithH119895 to inform us about having a business out of your home or having a store front or simply selling on line.  Any of these can be lucrative depending on the direction of the business.

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Re: Working capital or lines of credit for Medical businesses

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@michellelynetteh188032 thank you for your question.  I'm going to defer to @KeithH119895 to respond as NASA has probably seen or heard of your situation before and can provide the best assistance.

 

thank you!

 

 

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Re: Hobby to Profit

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@LifehasPurpose that is wonderful.  I wish I had those skills.  You can absolutely turn your passion into profit. There are so many ways to do this - you could sew items and sell through an online platform such as Etsy and Ebay.  Yes, there may be some fees but it's a great way to get visibility for your wares.  YOu could create a website that list your items and prices for sell and you could sell right from your site.  You can also find local events to sell items, such as commuity bazaars, etc. Think about items you would make a sell - is it clothes or other items you make.  Think about items to sell that are in demand.  To get started I would focus on creating a few items, test them out and then expand to other items.  You could even start by selling to family and friends and get them to be your mouthpiece for the items. 

 

I would encourage you to listen in tonight on your conversation about starting a business online and ask more questions of our experts.  Register at www.aarp.org/startabusiness.

 

I hope this helps!

 

 

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Re: Welcome to the Small Business Roundtable

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It's hump day and we are still here to answer your questions.  You can connect with any of our guest - @KeithH119895 @JenneneB36990 or @MarcellusWade to ask a question.

 

Let's chat today about funding.  Funding your business sometimes can be a weird science.  When launching a business it's sometimes hard to know how much you need and at what stages of the business you need it.  You may need start-up capital, but dont quite have enough collateral to secure the funding in the event you are unable to pay back; you may need growth capital but dont have a strong credit for banks to believe in you; you may need funding to meet payroll to keep the doors open.  There are many scenarios that you can find yourself in.  Then finding the right funder for you can be tricky as well.

 

For quick capital you may find yourself seeking vendors such as Kiva, Kickstarter, Paypal, etc. that can get you over the hump - but beware some of those fees can be high - so read the fine print to know the repayment terms.  They can be great for your short-term funding needs but you may need to take a more traditional funding route as you begin to grow and expand.

 

Now traditional funders have their pros and cons as well.  For many of your banking and credit institutions they may require you to have a business plan, a strong credit record/score, collateral in the event you default on your loan, etc. 

 

So, while funding is critcal for the development and survival of a business, it's important to know they type of funding needed and at the time you need it.  Dont take the first funding train coming your way - remember all money is not good money!

 

Have a story of how you funded your business you'd like to share - send our way

 

For our expert business owners, share with us how you funded your business - any tips/tricks??

 

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Re: Welcome to the Small Business Roundtable

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Hey @rhondabrown 

 

Thanks for joining the ranks of over 30 million self employed business owners.   It sounds like what you like to do is exactly what my first piece of advice would be to a new business owner....get involved.   Get in volved in your local chamber of commerce or rotary club or other specific networking group that may be forming in your area.  Check out FaceBook and LinkedIn for other professionals just starting out and connect with them.   Ask tons of questions and even answer some of their questions.   

 

As you continue to perfect the skills you are working on you will also be expanding your sphere of influence and meeting people that can help direct your success.   So keep plugging, get out there and stay connected.  

 

As you have other specific issues such as accounting questions, tax questions, marketing questions, always remember that you are not alone.

 

Keith

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Re: Welcome to the Small Business Roundtable

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Happy Tuesday!  I hope you are finding some good tips and tricks to starting and growing your business.  I want to remind you that AARP is hosting a live conversation on how to start an online business.  We will have experts from the SBA Women's Business Development Center, a business owner that runs her business from her website and an Etsy shop store owner. 

 

These experts are going to share their experiences with running a business from the comforts of their home - right from their lap top.  How cool is that!  They will share how they market and generate sales from promoting their businesses from their platforms.

 

It's an event you don't want to miss.  You can register now at www.aarp.org/startabusiness (copy and paste into your browser).

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Re: Welcome to the Small Business Roundtable

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Message 8 of 51

@rhondabrown this is great that you want to write and publish books.  You are correct, if you want to be a writer good grammer is critcally important.  I've learned that if you want to learn how to write better you should read more.  I also encourage you find a genre you like to write about - fiction, non-fiction, romance, mystery, drama, etc.  This will allow you to become really focused and perhaps build your writing style.  I think once you have that nailed down you can then begin to focus on the business aspect of writing.  Good luck!

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Re: Welcome to the Small Business Roundtable

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Message 9 of 51

i have to go now , sorry i have other deeds to attend to.

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Re: Welcome to the Small Business Roundtable

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Message 10 of 51

k i used to belong to a group called the Reach group, we wouid get together , resd the bible , go out to retirement homes etc. but it ended .

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