 |
 |
 |
 |
 |
 |
 |
 |
 |
2010 Executive Tidbits
IBM, P&G, General Mills, McKinsey, and McDonald's have the best manager training programs according to Fortune 2009. |
 |
 |
 |
|
Check out Keith's other site:
Virtual Writing Coach |
|
|
| |
|
|
The Executive Connection SM
a publication of The Virtual Executive Coach SM
"Vision + Accountability = Success!"
www.virtualexecutivecoach.com
January, 2008
In This Issue:
1. Preview
2. Executive Summary
3. Today You Are Your Own Boss
4. Helpful Hints
1. Preview
The Executive Connection explores the creative and analytical process of business development,
team-building, and executive development.
We are an interactive community of executives and small business owners who desire to network
with like-minded high-performance executives
to enhance our knowledge, skills, and aptitudes in the competitive business world.
Published monthly, the Newsletter offers coaching suggestions around the topics of: business development, financing, marketing, networking,
incorporations, mergers, human resources, governmental regulations, and tax laws.
Topics are presented from the perspective of Keith Barton and represent only his ideas on creating and running your business.
Because we are an interactive community of executives and business owners, other viewpoints are welcomed and may be printed in future monthly
newsletters with permission from Keith Barton.
2. Executive Summary
January, 2008
Dear Executive Connection Subscriber,
This month's newsletter features: Today You Are Your Own Boss.
3. Today You Are Your Own Boss
The following is an abbreviated chapter from my latest
book, Retirement
Is For Sissies,1 which can be purchased
on my website (pardon the self-promotion).
In coaching I tell folks who are contemplating starting their own business
to devote all their time to writing and sticking to a strategic plan.
Retirement is no different. Starting a business after sixty is simple:
have fun, work for yourself, stay away from franchises, don't get into
family businesses, and work from home no more than two days a week.
Rule No 1: Have Fun
You've been on the corporate ladder for forty years and now it's time to kick
back and enjoy yourself. The important thing to remember is to have fun and
not get bogged down in details of running a business; if you do, you'll
never follow your dream, whether it's a B&B, massaging your stock portfolio,
buying and selling on EBay, or pursuing a life-long hobby of photography
or travel guide.
Rule No. 2: Work For Yourself
There's an old saying that self-employed either can't
work or won't work for anyone else. Working for yourself
can be a liberating experience–no more boss, no
commute, no meetings, set your own hours and pace, and
enjoy yourself. The first step is to decide to pay yourself
a salary or 1099 distribution. My preference is to go
1099 since you're only working about 15 hours a week.
The next step is to schedule two days a week and spend
the remainder of your time volunteering, mentoring, taking
courses, and spending time with family. The third step
is to network with clients who will buy your service or
product. Good resources are trade associations, other
retirees, or craigslist.
Finally, devote study time to learn your business.
Rule No 3: Stay Away From Franchises
Fortune 500 had an article this year on why to stay away from
franchises. With franchising you work for yourself which defeats
Rule No. 1: Having Fun. Also stay away from other business ventures
where you are a silent or passive partner. There's no fun watching your
investment tank without control over the business.
Rule No. 4: Don't Work With Family
The only exception to this rule is working with your spouse, assuming you
both want to work together and can agree on what you want to do. With
extended family, boundaries become diffuse, job descriptions are
non-existent or poorly defined, pay is unequal, and succession planning
is lacking. You can't be family and employee at the same time with tempers
flaring and drama in the office.
Rule No. 5: Work From Home
This is a no-brainer. Why pay for an office when you can work from home?
Be sure to keep a separate office and keep track of your expenses. Home
office deductions are red flags for the IRS. My wife and I keep separate
offices at home with separate laptops, but we share a fax and printer.
I suggest you and your wife pick the same two days to work so you can
spend more time together.
Rule No. 6: Two is the Number
If you're working more than two days a week, then you're defeating the
purpose of your retirement. If you find yourself turning down invitations
from family and friends or putting off vacations then you haven't retired.
You've just left your cubicle of forty years and substituted a new cubicle
at home.
I hope I've given you some thoughts for working during your retirement if
you choose to do so. Remember that any money derived from your work is
secondary to staying active and learning new things. For those of you
eager to embark on new paths during your retirement, the excitement of
learning a new vocation without much financial risk can only occur if
you're not bogged down with a career. Retirement offers an excellent
opportunity to explore new knowledge, skills, and abilities.
1Barton, A. Keith, (2007). Retirement
Is For Sissies: Or How I Survived My Job. iUniverse
Inc., Lincoln, NE 68512.
Helpful Hints:
- Start a hobby or avocation now and parlay it into a fun job when
you're ready to retire. Make a list of things you like to do for fun and
see if there's any work potential.
- Contact your local SCORE (senior corps of retired executives) for any
business opportunities where you might partner with another person.
- Talk to other retirees who have bought into franchises and ask them
how much time it takes and (if they're honest) their return on investment
(ROI).
SUBSCRIPTION INFORMATION
The Executive Connection SM is a free publication. If you want to continue to receive this Newsletter, you can
SUBSCRIBE by clicking here or by sending a blank email message to
keith_barton@att.net
with the word SUBSCRIBE in the subject line.
To UNSUBSCRIBE click here or send a message to
keith_barton@att.net
with the word UNSUBSCRIBE in the subject line.
Be assured your name and email address are confidential. We do not sell, rent or share our mailing list with anyone.
Contact Information:
Keith Barton, Ph.D.
Voice: 281-583-5005
Fax: 281-583-5008
Web: http://www.virtualexecutivecoach.com
E-Mail:
keith_barton@att.net
(c) Copyright 2008, Virtual Executive Coach SM
and A. Keith Barton, Ph.D.
All rights reserved.
Distribution Rights:
The Executive Connection SM is copyrighted, but you may retransmit or
distribute it to whomever you wish as long as not a single word is changed, added, or deleted, including the contact information. However, you may not copy
it to a web site.
Republication of The Executive Connection SM in paper media is encouraged and permitted by individuals, organizations and associations, as long
as the issue is reprinted in its entirety, without change, and includes the contact information.
With advance permission, we are happy to edit an issue to fit your space requirements. Republication also is encouraged under other circumstances.
However, the advance permission of
A. Keith Barton, Ph.D. must be obtained in the event that changes in the text are desired.
The Executive Connection SM Mission:
The Executive Connection SM is dedicated to helping first-time business owners and executives to recognize resistance to change, while they create
and manage their own businesses. My goal is to help you transform your vision into a successful business venture with the addition of accountability structures
and silent partner.
The Executive Connection SM is a publication of The Virtual Executive Coach SM and Keith Barton, Ph.D.
We would like The Executive Connection SM to be as interactive as possible. If you have feedback, comments, topics you would like addressed, or can
suggest additional resources to benefit us all, please email us at any time. Send your e-mail to
keith_barton@att.net
.
Please forward this issue to anyone you think would find The Executive Connection SM interesting and beneficial. Your recommendation helps us
keep growing, and ensures an excellent exchange of information and techniques.
Archives:
You can read previous issues of The Executive Connection SM in our archive section.
About Keith Barton, Ph.D
Dr. Barton received his Ph.D. in 1972 from the University of Texas at Austin and has been a practicing therapist for over thirty years. He is a graduate of
MentorCoach and is accepting new clients.
He has been an adjunct professor at the University of
South Carolina, consultant to Fortune 500 companies in
executive development, founded and managed Texas Community
Living Ventures, Inc., in 1986 for providing group home
services to persons with mental retardation. Keith founded
and has been running a clinical practice in Northwest Houston since 1990.
He writes part-time with the goal of completing one novel a year. His desire to coach others derives from his passionate interest in helping others become
attuned to their creative powers of storytelling.
Dr. Barton has training in coaching, cognitive and family therapy and health psychology. He has published articles, made presentations and conducted workshops about:
Small Business Development
Employee Wellness Programs
Anxiety and achievement
Stress management
Self-esteem
Communication skills
Leadership styles
Core values in the workplace
Executive Development
High-performance groups
Physician support groups
Writer support groups
© 2010
The Virtual Executive Coach SM
and Keith Barton.
|
| |
|
|
|
|
|
