The partners of Simon Associates Management Consultants are committed to helping young entrepreneurs, and particularly women entrepreneurs, take their ideas and turn them into successful business ventures. As part of our effort, in 2018 we started the Simon Initiative for Entrepreneurship through the Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship at Washington University in St Louis.
When it comes to adopting new technologies, most people assume that the accounting industry is far behind, stubbornly resisting change. Yet in reality, the opposite is true. Today, the entire accountancy industry is rapidly being transformed, primarily due to productivity optimization brought about by the ever-growing tech revolution. Even at SAMC, we're taking advantage of new technological advances, such as Inbound Marketing.
Gone are the days of accountants being burdened with repetitive, time-sucking tasks. With the dawn of innovative technological solutions like intelligent automation, better predictions and efficient data analysis, today's accountants can now spend more time focusing on helping their clients grow their companies through better business strategies.
And it's not just the accounting industry that's being transformed by highly useful data analytics. Almost every industry these days is affected. Here are just a few of the influences that are revolutionizing the way companies do business today:
You've probably noticed them. Very likely, you're one of them yourself...a baby boomer who is approaching retirement age (or is even well past it). But if you're like many over the age of 50, you may be feeling the itch to start a business and go looking for new opportunities and untapped markets.
And why not? People over 50 have a host of things working in their favor, from decades of work experience to a valuable network of connections to the financial resources needed to start and run a new business successfully. All of these combine to make this a great time to take the leap and try turning your big idea into something big.
Here are two more reasons why the "over 50" age set is an opportune time to start a business: the internet revolution and the explosive growth of technology, both of which have generated important new tools for older entrepreneurs to consider. Running a thriving, modern company today depends on advanced technology capabilities and extensive internet knowledge, both of which you and your company need to have. Here are 5 things to consider as you start to develop a business strategy for these fast-changing times, which I'd like to share here:
5 tips for starting a business over 50
Are you a small or even a mid-market business wondering how to sustain your growth? Are new customers coming in through the Internet but not from your sales team? You don't know how to get more of them? Maybe your are a family firm and need to take your business to the next stage?
Could inbound marketing really help?
Every time you go to a conference or look on the Internet people are talking about inbound marketing. How do you know what it is? What is the right kind of inbound marketing for your business? Is it affordable? Can you support the people needed to create your content?
We hear these questions far too often from people who were able to get their business to a certain size and now are finding it harder to competitively add value in new ways. And the new world of marketing is heavily inbound but totally like a foreign country to them.