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Welcome to the Small Business Roundtable

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Retired Community Manager

Welcome to the Small Business Roundtable

Welcome to the Small Business Roundtable Event!

 

Are you dreaming of turning your passion into a profit, or you have a small business idea? Whatever your path AARP is here to help.  

 

This national small business month, AARP’s Entrepreneurship Expert, Felicia Brown, is joined by a panel of entrepreneurs who have found success in starting a business. A few topics that we'll cover include:

  • How to get started
  • Finding the right small business for you
  • Marketing your business
  • Sources for funding
  • Writing your business plan

Ask your questions and get advice from fellow entrepreneurs to help take your small business to the next level. (Ends Nov. 22)

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Honored Social Butterfly

I have no expertise in starting a business, but I can tell you anecdotally that a seamtress is in huge demand in the Chicago suburbs. I personally know a family that started a business in their home. They advertised in several local papers, but got most of their traffic from word-of-mouth. The business was mom and two daughters.

   They eventually opened a store (rented space in a strip mall). They couldn't keep up with the demand and were not able to find more help. They eventually retired. Anything that needed sewing took weeks to get back due to demand.

   There is a tailor in a neighboring town and he (yes, he) has the same thing. It's a week or two to replace a zipper on anything. He has far more business than he can handle.

   There are so few people who can sew, and so much demand. Alterations was their major income. We've used the tailor for replacing coat zippers. He charges $10 to $20 to replace, depending on type of zipper. I know he does a lot of zippers and has an inventory of them. 

   Anyway, I hope you can find someone to steer you in the right direction. Good clothing is expensive, and few people know how to sew a button back on, replace a zipper, cuff pants, or alter hems. Those are probably things you can do in your sleep, but people will willingly pay for these services to save an expensive garment.  

   I'm guessing you could start advertising and work out of your home. But, I don't know if that is allowed under zoning laws. Hopefully, someone on these forums knows about small business issues and can direct you.


"...Why is everyone a victim? Take personal responsibility for your life..."
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AARP Expert

@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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Contributor

Thank you so much for these words of encouragement!!!  You are right, sewing has become a lost skill. It is much needed. I will take heed to your words and put together a plan.

 

All the best.

 

Blessings,

Angie

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Honored Social Butterfly

@LifehasPurpose 

 

Go for it!!!


"...Why is everyone a victim? Take personal responsibility for your life..."
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Business Leader

Good morning!  My name is Keith Hall and I am President and CEO of the National Association for the Self-Employed.  We represent over 30 million small businesses who, as a group, provide over 70 percent of all new jobs in this country.   The NASE was organized almost 40 years ago and has as its only mission, to help those small business owners be more successful  

 

I am looking forward to visiting with all those interested in building their own American Dream in buidling their own future and creating jobs for the future of others.  

 

 

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AARP Expert

@MarcellusWade can you give our audience more specific information about how you got started.  We may have people who are looking for some direction on where to go and how to get started.  Give us a bit more insight.

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Contributor

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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Periodic Contributor

I will be pleased Felecia. I first started by researching and consulting with the Small Business Administration, consistently watching the online course materials. Thereafter, I began attending networking events and researching federal agency’s missions. I simply aligned my capabilities with the gaps of federal agency’s and started networking to present to key personnel.

 

The key to getting started is networking. The more people and connections you have in your arsenal will best lead you to your first customer.

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AARP Expert

@MarcellusWade please share what training courses specifically you took that may prove valuable to our audience.  As you know there are many and some that are tried and true.  Where there organizations you contacted that have ongoing training courses available?

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Periodic Contributor

I took tons of FEMA courses and consisted consulted with my local Procurement Technical Assistance Center. The most valuable course I took was the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV). The 10-day course gave me the best resources to help accelerate my businesses. I also offer a 10-week course to help small business owners win their first government contract.

 

Resources:

FEMA https://training.fema.gov/emi.aspx

SBA https://www.sba.gov/course/government-contracting-101-part-1/#course-content

EBV http://ebv.vets.syr.edu/veterans/

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AARP Expert

@MarcellusWade this is good information.  I am aware that SBA has a host of resources as well as in person sites that people can access, such as SCORE (score.org) and the Women's Business Resource Centers (sba.gov/learningcenters) SBA Development Centers as well as information about funding.  Can you tell us about how you sought out funding.  Did you go the nontraditional route first then to your local bank?  What was your funding journey?

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AARP Expert

Happy Veterans Day to all who have and continue to serve our country.  It's also the first day of AARP's Small Business Roundtable where we will ask and answer your questions about starting, marketing, funding and growing your business.  Last week we introduced our guest panel who will be available for the next two weeks to engage you on all things small business. 

 

So, I invite you to join the conversation.  We'd like to hear from you!

 

I also invite you to join us next week Nov. 20 @ 7PM EST to learn about how to Start a Business Online.  You can register now at https://vekeo.com/event/aarpfinancialresiliance-46983/ (copy and paste in your browser).

 

To kick off our conversation, let's start with @KeithH119895 to give us some basic information about starting a business.

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Periodic Contributor

Good morning All. I am here if you have any business questions.

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Newbie

What are your thoughts on starting a small business of consultancy and education? I am an educator of more than 20 years and don't necessarily want to go to the administrator route. But I would like to travel the world and provide support, strategies and assistance to administrators and school communities alike.

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Periodic Contributor

My recommendation is to determine what the needs (pain points) are in this area and decide how you can provide solutions that the audience is willing to pay for.  Start with viewing questions/responses on Facebook Groups and LinkedIn groups dedicated to this industry/subject matter. You will notice that certain questions/concerns will frequently be asked which indicates that there may not be a current solution for that problem or the solution that is currently available may be improved.

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AARP Expert

@GlynisC12570  you know lots of businesses are started out of passions - people turn their passion into profit.  If you are asking if it's a good idea I can't answer that but something to consider is, is there a market for this?  Do you think school administrators would see the value in taking international trips that would impact their profession - something that would add value to their work.  Perhaps an educational trip with pleasure sprinkled in.  This could be professional development coupled with vacation during the summer months - perhaps.  Or you could purely consult with them in areas that would help to be better administrators.  So, there could be more than one angel here but the key is figuring out how to make this business venture value for your clients.

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AARP Expert

@MarcellusWade please share with our audience how you started your business.  Were there any specific steps you took to get your business lauched (i.e. research, courses/training, books on how to get started, etc.)?

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Periodic Contributor

I started my business by working as a consultant for a small firm in Baltimore. After understanding the landscape of business development, I launched my firm.

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Contributor

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

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Retired Community Manager

Good morning, everyone! The roundtable discussion begins in a few days. Feel free to leave us a question over the weekend and we'll get started on Monday!

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Retired Community Manager

Felicia Brown @FeeBrown leads AARP’s Entrepreneurship Initiative focused on helping aspiring entrepreneurs understand the risks and rewards of starting a business. She manages strategic partnerships, and researches and develops educational resources for small businesses. She is one of AARP’s Work/Jobs online community experts.

 

Keith Hall @KeithH119895 is president and CEO of the National Association for the Self-Employed (NASE). He previously served as the National Tax Advisor for NASE where he offered tax advice to people who are self-employed and to small business owners. He is a certified public accountant and has been featured in The Wall Street Journal, The New York Times, The Washington Post and Good Housekeeping.

 

Jennene Biggins @JenneneB36990 is the principal of J Biggins Consulting, a digital marketing consulting firm specializing in helping small businesses leverage social media marketing strategies, email marketing, video marketing, and mobile marketing to effectively reach their customers and generate revenue.

 

Marcellus “Fox” Wade III @MarcellusWade is founder and CEO of Black Fox. He is a United States Army veteran, Purple Heart recipient and Black Business Review “40 under 40” awardee. Black Fox is one of Maryland’s fastest growing companies, supporting clients such as the Maryland Department of Transportation, Centers for Medicaid and Medicare Services and the Maryland Transit Authority.

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