Beginning Business Blog

A s a certified Baby-boomer(circa 1949) retiree (2012), I elected to "retire" young to pursue a career that I had long desired, combining my love of science and my avocation of working with prospective small business owners and entrepreneurs. My decision is far from uncommon as is the decision by many boomers to continue to work beyond retirement age either staying on a full-time job, working part-time or starting a business.  Other research shows that taking retirement and actually retiring tends to shorten a retiree's life, and that staying active and involved lengthens it, as well as keeping a retiree healthier and mentally sharper. As more baby boomers reach retirement age, employers such as state governments face the likelihood of higher workforce turnover. For example, in the state of Missouri, more than 25 percent of all active state employees will be eligible to retire by 2016. Such large numbers of retirees threaten the continuity, membership and institution...

The question is: should family businesses always keep it in the family?  From the Murdochs to the Hiltons, families have long sought to keep their businesses in the bloodline. But new research shows that's not necessarily the best method of management. The recent study, published in the journal Entrepreneurship Theory and Practice, shows that if the family business is part of a traditional industry built on quality and reputation, a family member would make a good CEO. But  if it operates in an industry that values innovation, and the firm has to stay on the cutting edge, it's best to look elsewhere for leadership. The study's lead author, CIBC Distinguished Professor of Family Business Peter Jaskiewicz, says that in industries that prioritize pushing boundaries over preserving tradition, an aggressive attitude in the marketplace is necessary to lead. "Because family CEOs tend to focus more on family values, while non-family CEOs seek to innovate, that mean...

The cost of office space can be second only to employee costs for any business, and a problem for a new or rapidly growing company with limited resources. Telecommuting can be a solution, or it can be a problem, depending on how it's structured and managed.  And it should be obvious that not all employees are good candidates for a telecommuting option. "The success of an employee working from home depends on the person, on the job and on the training the organization provides to do that role remotely," says Scott Boyar, Ph.D., associate professor of the University of Alabama at Birmingham Collat School of Business.  "An organization has a lot of responsibility when letting workers go virtual, but the employee carries a lot of it too. There are questions an employee, or the employer, should ask." Does it fit my personality and preference for integrating work into my family environment? Can I structure my time and stay motivated to work th...