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Four-year-old entrepreneur wins out against council complaints

<p dir="ltr">Four-year-old Leo Tyres is the proud owner of his very own fruit and vegetable stand, better known as Leo’s Little Shop, but his enterprise hasn’t come without its share of struggle. </p> <p dir="ltr">He first had to overcome a hurdle most small business owners know an awful lot about - a slow start. And from there, things escalated, when a complaint made to the local council against his stand almost shut down business for good. </p> <p dir="ltr">Leo operates his pop-up store, selling discounted fruit and vegetables with slight defects from outside his home in Gatton, Queensland. </p> <p dir="ltr">And as Lockyer Valley Mayor Tanya Milligan told<em> 9News</em>, the complaint had been about “a business that was operating in a residential area. </p> <p dir="ltr">“Like most councils, we are complaint-driven, we have an obligation to go and check it out.”</p> <p dir="ltr">“If it’s a permanent structure, it becomes a shop,” she explained, before noting that if that were the case then the young family would have had a lot of hoops to jump through. </p> <p dir="ltr">Luckily for little Leo - and the 2000 locals who got behind a petition to save his venture - Milligan was of the opinion that “it’s no different to me than the old-fashioned lemonade stall or garage sale.” </p> <p dir="ltr">And so, the stand remains open for business, with Leo at the helm. </p> <p dir="ltr">As for how his regulars feel about the outcome, Leo was happy to report that “they say ‘good on ya’.” </p> <p dir="ltr">Leo’s mother, Barbra Sanchez, is delighted with the result as well, and shared some of the benefits of his experience, noting that “he is learning several life skills from interacting with people, [and he’s] saving money.”</p> <p dir="ltr">Those people are, of course, his customers, but also his suppliers. Local business is important to the youngster, who sources his produce from local farmers who are unable to sell the fruit and vegetables due to the ‘imperfections’ in their appearance.</p> <p dir="ltr">While he started out with just a bag of limes and two pumpkins, Leo’s empire has grown from there, and he now has his very own trailer to help with the crucial work of sourcing, carrying, and selling his wares. </p> <p dir="ltr">He was more than eager to share this proud achievement, too, declaring that he can now “take 10 pumpkins in the trailer! 10 pumpkins.” </p> <p dir="ltr">And for anyone wondering just what the four year old might be doing with his hard-earned savings, Leo was happy to explain, telling <em>9News</em>’ Cam Inglis, “I just buy toys.” </p> <p dir="ltr"><em>Images: 9News</em></p>

Food & Wine

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Tech millionaire’s “creepy” $100k offer sparks wave of backlash

<p>US tech millionaire and Silicon Valley entrepreneur Steve Kirsch has been slammed for making a “creepy” offer towards a female passenger who was travelling on the same plane.</p> <p>In a tweet, Kirsch claimed that he offered the stranger $US100,000 to remove her face mask for the flight.</p> <p>"I am on board a Delta flight right now. The person sitting next to me in first-class refused $100,000 to remove her mask for the entire flight. No joke," he tweeted.</p> <p>Kirsch, who became infamous for spreading misinformation about the COVID-19 vaccines throughout the pandemic, said that he "explained" to his seatmate that masks "don’t work".</p> <p>He also claims that the woman worked for a pharmaceutical company, and he started by offering her $US100 but worked his way up.</p> <p>She rejected his offer, but Kirsch persisted and said that if she removed the mask to eat and drink she "she could be infected with one breath".</p> <p>Many have slammed the entrepreneur for his actions.</p> <p>“Ew. Do you make a habit of offering money to random women to remove coverings from their bodies mid-air?" posted Jess Piper, a former Democrat state representative nominee, in her response to Kirsch's post.</p> <p>“Stop bugging people who are minding their own business with your creepy nonsense,” commented Alastair McAlpine, an infectious disease expert.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">I am on board a Delta flight right now. The person sitting next to me in first class refused $100,000 to remove her mask for the entire flight. No joke. This was after I explained they don’t work. She works for a pharma company. <a href="https://t.co/Q8Hwzhkmxf">pic.twitter.com/Q8Hwzhkmxf</a></p> <p>— Steve Kirsch (@stkirsch) <a href="https://twitter.com/stkirsch/status/1634189428150390785?ref_src=twsrc%5Etfw">March 10, 2023</a></p></blockquote> <p>"This is wildly creepy, you get that, right? Every part of this. From the request, to the expression, to the fact you decided to tweet this!" commented one user.</p> <p>“All you’re doing here is admitting you patronised and harassed a woman who made a decision she thought was best for her,” wrote another.</p> <p>Last week, Kirsch tried to pull the same stunt on a different flight.</p> <p>He tweeted that he offered his seatmates $US10,000 to remove their masks for the flight, but they also declined his offer.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">I asked the people sitting next to me on the plane if I paid them $10,000 would they remove their mask for the duration of the flight? Both declined the offer. </p> <p>Maybe I should offer $100,000 next time? This can quantify the amount of brainwashing. <a href="https://t.co/VLlymusmcq">pic.twitter.com/VLlymusmcq</a></p> <p>— Steve Kirsch (@stkirsch) <a href="https://twitter.com/stkirsch/status/1633166204054675456?ref_src=twsrc%5Etfw">March 7, 2023</a></p></blockquote> <p>"Maybe I should offer $100,000 next time? This can quantify the amount of brainwashing," he added.</p> <p>Delta airlines have said that masks are optional for both domestic and international travel unless required by “applicable governments”.</p> <p>American federal law no longer requires masks be worn in airports or on planes, but certain cities and states may still make it a requirement at their airports.</p> <p><em>Image: Twitter</em></p>

Travel Trouble

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Locals rally after 12-year-old has business shut down

<p dir="ltr">A 12-year-old boy has gained the support of his local community after his snack-selling business was shut down by council.</p> <p dir="ltr">Jesse Lane was earning some tidy profits from selling cold drinks, insect repellent, dog treats and sunscreen in a tent on the Bondi to Coogee walk in Sydney’s Eastern Suburbs.</p> <p dir="ltr">Despite his success, the venture was shut down after two locals complained that he shouldn’t be making profits on public land.</p> <p dir="ltr">The complaints came after Randwick Council rejected Jesse’s trading application because he didn’t have insurance.</p> <p dir="ltr">But even when he acquired insurance months later, the application was rejected again.</p> <p dir="ltr">With his tent stall facing a forced closure, locals have rallied around Jesse.</p> <p dir="ltr">“Jessie is the hard-working kid who sets up and sells a number of things for hot and thirsty walkers and their pets,” one person shared on Facebook.</p> <p dir="ltr">“The world needs more kids to drive to work hard for themselves and not sit around and play video games all day.</p> <p dir="ltr">“His parents must be so proud of him and people should mind their business, if the kid wants to make money and work on his weekends good on him.”</p> <p dir="ltr">Susan Ley, the deputy leader of the Liberal party, chimed in to support the youngster, saying he should be commended for “having a go”.</p> <p dir="ltr">“We won’t have the small businesses and entrepreneurs of tomorrow if we don’t back them today,” she said.</p> <p dir="ltr">“This is a foolish decision @RandwickCouncil and it should be reversed.</p> <p dir="ltr">“Local community (equals) happy, 12-year-old kid having a go … what’s the problem?”</p> <p dir="ltr">In August, <em>Yahoo News</em> reported that Randwick Council confirmed that there had been a “number” of complaints about Jesse’s business.</p> <p dir="ltr">"He was initially selling drinks but has expanded to include a range of products including sunscreen, insect repellent and dog treats," a council spokesperson told <em>2GB </em>radio.</p> <p dir="ltr">“While we admire the innovation and entrepreneurial spirit of the young man, there are restrictions on commercial operations in public parks.</p> <p dir="ltr">“Council received a number of complaints from people concerned about the precedent of commercialisation of the park as well as concern about the safety and welfare of a young boy trading and handling money in a public place.”</p> <p dir="ltr">“Council has carefully considered the application. Unfortunately, it has determined that the activity is not consistent with the primary use of the land and it is not in the public interest for a proliferation of these types of activity along the length of the coastline.”</p> <p><span id="docs-internal-guid-4600703a-7fff-8fd5-8584-58c705a63219"></span></p> <p dir="ltr"><em>Image: 7News</em></p>

Money & Banking

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9 tips for starting a business

<p>Always dreamed of starting a business? Well, there’s no better time than the present. Here’s nine tips to help get you started.</p> <p>Whether you’d like to take your passion for sewing, cooking or helping others further, or if you wouldn’t mind a bit of extra money in retirement, starting a business can not only keep your mind and body active, but you’ll be benefiting the wider community.</p> <p>The new wave of entrepreneurialism isn’t young Richard Branson types, its people in their 50s and 60s who have skills in a range of trades or activities and the time to invest in getting a business off the ground.</p> <p>Dr Alex Maritz, associate professor of entrepreneurship at Swinburne University of Technology, says senior entrepreneurship is a significant phenomenon across the globe. “Sixty is the new 50. People aged 50-65 have a higher rate of entrepreneurial activity than those aged 20-34, so what are you waiting for?” he says. “This is the fastest growing segment of entrepreneurship across the globe.”</p> <p>If you think you have what it takes to start your own business, here’s a few of Dr Maritz’s tips for getting started.</p> <p><strong>1. Make a profit from your passion</strong></p> <p>A hobby to supplement your income is always first prize. Your mature skills and social aptitude drive your motivation, skills and, more importantly, the opportunity to achieve. Risk and reward are always a trade-off, but better so when you do something you enjoy doing.</p> <p><strong>2. Surround yourself with likeminded people</strong></p> <p>Network with other seniorpreneurs who are also starting new ventures. Just think of all those combined skills and professional services you may obtain at mates’ rates. Even sports clubs for seniors are fantastic networking opportunities. Positive environments promote proactivity, innovation and calculated risk-taking. Network with niche organisations such as Seniors Australia.</p> <p><strong>3. Work anywhere you want</strong></p> <p>Starting a business no longer necessarily requires a brick and mortar office or storefront. If you do require an office, share space at incubators and networks. Flexibility is the name of the game. Virtual offices are the domain of entrepreneurs.</p> <p><strong>4. As you grow seek help from part-timers</strong></p> <p>Manage your resource cost and remember, the best human resource is usually shared. And it’s not always physical, many services are offered and procured online. Do not overcommit by hiring permanent staff. Fixed costs are dead weight!</p> <p><strong>5. Get creative if you need funding</strong></p> <p>Friends and family are always a great option to top up the finances to start your business. Other options include grants, contests and crowd funding. Suppliers may well provide valuable credit terms. Use your own credit history to secure additional funds.</p> <p><strong>6. Top up your skills</strong></p> <p>Upskill your entrepreneurship education and training (classes and online). This may sound cumbersome, but enhancing your business acumen pays dividends. If you go to classes, it’s a valuable networking opportunity as well. Most providers also offer online modules.</p> <p><strong>7. Get savvy online</strong></p> <p>Remember, 97 per cent of consumers search the internet for goods and services. A website and blog go a long way to enhancing your referrals, customer retention and related sales. Even if your business is not online, a virtual presence is essential.</p> <p><strong>8. Working on the go with your mobile</strong></p> <p>Similar to making your workspace fit your lifestyle, your mobile device (smartphone) is your new mobile office. Real time communication necessitates real time response; not just a by-product of your office environment.</p> <p><strong>9. Spread the word with social media</strong></p> <p>Hand in hand with digital and internet technology, this is an ideal entrepreneurial marketing avenue open for start-ups. Scan the many online tutorials to assist in this regard.</p> <p>If you’d like to share your thoughts, get resources and connect with likeminded people, take a look at SeniorPreneurs.org. Co-founded by Dr Maritz, it’s a social community of people over 50 who have a passion for business start-ups.</p> <p><em>Image: Getty</em></p>

Money & Banking

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Kiwi millionaire found dead in Kenya

<p dir="ltr">Kiwi entrepreneur and teen millionaire Jake Millar has died in Kenya, eight months after moving there from New Zealand.</p> <p dir="ltr">The cause of the 26-year-old’s death has not been confirmed.</p> <p dir="ltr">Mr Millar, a former Forbes under 30 lister, sold the second of his businesses in February before moving to Kenya.</p> <p dir="ltr">Founded in 2015, Mr Millar's motivational video platform Unfiltered was worth $11.47 million at its peak, but was reportedly sold to consultancy group Crimson Education for about $84,000.</p> <p dir="ltr">The move upset investors - who accused him of poor management and a lack of transparency around the sale - and drew criticism from New Zealand media, with some comparing it to failed ventures such as WeWork and Fyre Festival.</p> <p dir="ltr">In an interview with<span> </span><em>The Spinoff</em><span> </span>in March, Mr Millar said moving halfway across the world would be the “massive shake up” he needed.</p> <p dir="ltr">“Life over the next 30 years is probably going to be very similar and very predictable,” Mr Millar explained.</p> <p dir="ltr">“So the question I asked myself is ‘what can I do to massively shake up the trajectory in an otherwise relatively predictable life?’ And the idea of moving to sub-Saharan Africa felt like shaking up that trajectory.</p> <p dir="ltr">“My business has commercially failed and I have no obligations anymore to a set of investors. I haven’t raised a fresh set of capital and I don’t owe my time to any venture. I really am able to go in any direction I want and try something new.”</p> <p dir="ltr"><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7846020/jake-millar1.jpg" alt="" data-udi="umb://media/ccc71b276c7d4ccf8cbaefea9e54bf2c" /></p> <p dir="ltr"><em>Mr Millar posing with Sir Richard Branson, who he interviewed through Unfiltered. Image: news.com.au</em></p> <p dir="ltr">Since the news of his death broke, tributes have flowed in for the young entrepreneur from noteworthy businesspeople, including Sir John Kelly, the former New Zealand Prime Minister.</p> <p dir="ltr">“From the first time I met him, I knew he was someone special. He had a mixture of courage, warmness, intellect, and a maturity and strength to deal with adversity, which is never easy for a young person. I respected him and I will miss him,” he told the<span> </span><em>New Zealand Herald</em>.</p> <p dir="ltr">New Zealand actor and comedian Rhys Darby shared a tribute to Mr Millar on Twitter, writing, “Rest in Peace Jake Millar. I met him when he was 17 and he was inspiring then! He had such discipline and drive and a great sense of humour.”</p> <blockquote class="twitter-tweet"> <p dir="ltr">Like many, I was immediately struck by Jake Millar’s poise/energy &amp; love the focused intensity he brought to interviews. Many places to watch his storytelling w/ voices more famous, but forever grateful to have shared the <a href="https://twitter.com/TechweekNZ?ref_src=twsrc%5Etfw">@TechweekNZ</a> stage in 2019 <br /><br />RIP 😔<a href="https://t.co/SHVZXbN5Zo">https://t.co/SHVZXbN5Zo</a> <a href="https://t.co/osAPbdmMQ6">pic.twitter.com/osAPbdmMQ6</a></p> — Savannah ✨Savvy✨ Peterson (@SavIsSavvy) <a href="https://twitter.com/SavIsSavvy/status/1465396763339083778?ref_src=twsrc%5Etfw">November 29, 2021</a></blockquote> <p dir="ltr">Some have also criticised Mr Millar’s treatment after he sold Unfiltered, with Crimson Education CEO Jamie Beaton saying it was reflective of broader issues.</p> <p dir="ltr">“New Zealand often suffocates ambition in its young people,” Mr Beaton said.</p> <p dir="ltr">“I had never met anyone in New Zealand like Jake Millar. Jake had an ability to connect with people that was mesmerising.</p> <p dir="ltr">“He understood what drove people and could inspire them, drive them and unite them.”</p> <p dir="ltr">Another user blamed Mr Millar’s criticism and death on “Tall Poppy Syndrome”.</p> <p dir="ltr">“We don’t know Jake Millar’s cause of death; but we can be certain Tall Poppy Syndrome was a contributing factor,” entrepreneur Yoav Lurie wrote.</p> <p dir="ltr">“The way NZ cuts down those who strive to do big things always disgusts me.</p> <p dir="ltr">“Gutted for the loss; I was looking forward to his next thing.”</p> <blockquote class="twitter-tweet"> <p dir="ltr">Can't help but feel uneasy that the same media now reporting <a href="https://twitter.com/hashtag/JakeMillar?src=hash&amp;ref_src=twsrc%5Etfw">#JakeMillar</a>'s passing is a tragedy, are the same media that tore him to shreds when he succeeded, and when he tried and failed. NZ Tall Poppy syndrome is the worst! RIP Jake, you were an inspiration.</p> — Brady Dyer (@BR4DY) <a href="https://twitter.com/BR4DY/status/1465175981325307909?ref_src=twsrc%5Etfw">November 29, 2021</a></blockquote> <p dir="ltr">Mr Millar first saw success after founding Oopher with his friend, Yuuki Ogino, while they were still in high school.</p> <p dir="ltr">The motivation app was later sold to Careers New Zealand, and the duo went on to create Unfiltered.</p> <p dir="ltr">In 2010, Mr Millar lost his father, Rod Millar, in a plane crash on New Zealand’s South Island. He explained the impact of the widely-publicised tragedy to<span> </span><em>The Spinoff</em>, pointing to it as one of the reasons he became “more controversial than (he) ever set out to be”.</p> <p dir="ltr">“As a young entrepreneur, some people would probably accuse me of having quite strong defence mechanisms,” he wrote in an email shared with the publication.</p> <p dir="ltr">“I have always stood up for what I have believed in and also against people I have felt wronged by, often even if they have been much wiser and more successful than me. When I reflect over my journey, I think this is one of the reasons I became, inadvertently, more controversial than I ever set out to be.”</p> <p dir="ltr"><em>Image: Getty Images</em></p>

Travel Trouble

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Teen entrepreneur calls out the older generations

<p><span style="font-weight: 400;">An Australian high schooler who has become a multi-millionaire off of his online business ventures has called out older generations for labelling millennials as “lazy” and “entitled”.</span></p> <p><span style="font-weight: 400;">Jack Bloomfield has become a successful ecommerce entrepreneur through a series of ventures.</span></p> <p><span style="font-weight: 400;">The 17-year-old has penned an open letter, saying young people are “doing incredible things”.</span></p> <p><span style="font-weight: 400;">“If I had a dollar for every time I heard yet another insult about Millennials like me, I could probably actually afford to be every bit as lazy as we’re always accused of being,” he wrote in a </span><a rel="noopener" href="https://www.news.com.au/finance/money/17yo-selfmade-millionaires-open-letter-to-adults/news-story/3ab4fd514b3aa838b14b5ca12f96ca40" target="_blank"><span style="font-weight: 400;">news.com.au</span></a><span style="font-weight: 400;"> piece.</span></p> <p><span style="font-weight: 400;">“Honestly, it feels like kids my age should all be walking round with helmets on given just how much of a beating we take from older generations.</span></p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/BxrT1FTl-Kg/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="13"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/BxrT1FTl-Kg/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">A post shared by Jack Bloomfield (@jackbloomfield)</a></p> </div> </blockquote> <p><span style="font-weight: 400;">“All we get told is how lazy and entitled we are.</span></p> <p><span style="font-weight: 400;">“But you know what? We’re not listening.</span></p> <p><span style="font-weight: 400;">“We don’t want to spend 40 years chained to a desk taking a pay cheque like you did.</span></p> <p><span style="font-weight: 400;">“We want to be in charge of our own future.</span></p> <p><span style="font-weight: 400;">“And we’re making it happen whether you like it or not.”</span></p> <p><span style="font-weight: 400;">Since starting his first business at the age of 12, Jack has gone on to become a multi-millionaire and public speaker.</span></p> <p><span style="font-weight: 400;">He told </span><em><span style="font-weight: 400;">Today Extra</span></em><span style="font-weight: 400;"> last year that schools needed to do more to support aspiring entrepreneurs.</span></p> <p><span style="font-weight: 400;">“It all comes back down to support of kids like myself who want to go out there and start something really big with their lives,” he said.</span></p> <p><span style="font-weight: 400;">“No one’s really talking about starting a business, especially teachers and schools around the country, so it was all self-education.</span></p> <p><span style="font-weight: 400;">“Instead of watching Minecraft or whatever I watched at the time, I started typing up how to start your own online business just on YouTube, just spending hours and hours educating myself trying to figure out how this whole thing’s going to work.”</span></p> <p><span style="font-weight: 400;">Bloomfield concluded his piece by praising the achievements of other young people who are "trying to launch the next revolutionary business that will change the way we live or work".</span></p> <p><span style="font-weight: 400;">"We want to be in charge of our own future," he said. "And we're making it happen whether you like it or not."</span></p> <p><em><span style="font-weight: 400;">Image: Jack Bloomfield / Instagram</span></em><span style="font-weight: 400;"></span></p>

Retirement Income

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Mature-aged entrepreneurs find success

<p><span style="font-weight: 400;">Ready to leave your job but not ready to retire? You might want to consider joining the growing number of mature-aged entrepreneurs starting their own business.</span></p> <p><span style="font-weight: 400;">Though the field is perceived as a young people’s game, </span><a href="https://journals.sagepub.com/eprint/YUFEMDJMGNNWDZDFZBMC/full"><span style="font-weight: 400;">studies</span></a><span style="font-weight: 400;"> show older age is linked to more entrepreneurial success.</span></p> <p><strong>Why?</strong></p> <p><span style="font-weight: 400;">According to Alex Maritz, professor of entrepreneurship at Latrobe University, older entrepreneurs succeed due to the many advantages they have over their younger counterparts.</span></p> <p><span style="font-weight: 400;">“People at this age group have better or higher levels of human capital - that’s knowledge and skills,” he told ABC Radio Sydney.</span></p> <p><span style="font-weight: 400;">“They have better social capital, which could be networking, and financial capital, which could account for bootstrapping, or self-financing.”</span></p> <p><span style="font-weight: 400;">Senior entrepreneurs are also less likely to have a fear of failure.</span></p> <p><span style="font-weight: 400;">“They’ve experienced things in life, they’ve had ups and downs … they’ve usually learned from these experiences,” Professor Maritz said.</span></p> <p><span style="font-weight: 400;">“That’s what entrepreneurship is about - it’s about learning from experiences, bouncing back, being proactive, innovative and having a capacity to take risks.”</span></p> <p><strong>An underrated choice</strong></p> <p><span style="font-weight: 400;">Professor Maritz also said it was important to promote self-employment as a viable career path for older Australians who may be less interested in starting a business.</span></p> <p><span style="font-weight: 400;">“The older age group has lower levels of entrepreneurial intentions,” he said.</span></p> <p><span style="font-weight: 400;">“There are certain things we have to provide these more mature people - like developing ecosystems for them, targeted education, and access to entrepreneurial resources.”</span></p>

Retirement Income

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Where are the films starring successful women entrepreneurs?

<p><a href="https://www.hbo.com/documentaries/the-inventor-out-for-blood-in-silicon-valley">The Inventor: Out for Blood in Silicon Valley</a>, now streaming in Australia on Binge, depicts Theranos founder and former CEO Elizabeth Holmes as a bewitching sociopath.</p> <p>Holmes wanted to revolutionise health care by providing a simple and cheap way to perform blood tests using only a finger prick. In 2003, she founded Theranos, with a vision of the company’s machines in every home in America.</p> <p>But, as the Wall Street Journal’s John Carreyrou <a href="https://www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901">revealed</a> in 2015, Holmes created an intricate web of deception. Even as machines found their way into chemists and were being used by medical insurance companies, they never actually worked.</p> <p>Holmes put patients’ lives at risk and cost investors millions of dollars.</p> <p>The documentary is compelling viewing, but as it enters a very slim field of movies about female entrepreneurs it is worth questioning the impact of the stories we choose to tell.</p> <p><strong>Fall from grace</strong></p> <p>The journey Holmes took from young idol to spectacular failure is a story about systemic issues and the <a href="https://knowledge.wharton.upenn.edu/article/silicon-valley-work-culture/">sometimes toxic</a> culture of the world of start-ups.</p> <p>Prior to the scandal breaking, Holmes was <a href="https://www.newyorker.com/magazine/2014/12/15/blood-simpler">celebrated in the media</a>. She was portrayed as a Stanford University dropout with a vision for changing the world. She raised hundreds of millions of dollars from powerful men in a start-up landscape known for its <a href="https://hbr.org/2020/01/how-the-vc-pitch-process-is-failing-female-entrepreneurs">discriminating funding practices</a>.</p> <p>She made the <a href="https://www.forbes.com/profile/elizabeth-holmes/#338f337c47a7">cover</a> of Forbes magazine in 2014 as the world’s youngest self-made female billionaire. Holmes represented a heady mix of tech, science and business. She was the golden girl of the start-up world.</p> <p>This made her fall from grace even more spectacular.</p> <p>But compare Holmes’ portrayal with another well known example of a deceitful male entrepreneur: <a href="https://www.theguardian.com/film/2014/feb/28/wolf-of-wall-street-jordan-belfort-sex-drugs">Jordan Belfort</a>, the “wolf of Wall Street”.</p> <p>Belfort ran an elaborate crime scheme linked to manipulating the stock market and was jailed for 22 months for securities fraud. Nonetheless, his <a href="https://www.goodreads.com/book/show/522776.The_Wolf_of_Wall_Street">autobiography</a> and Martin Scorsese’s 2013 <a href="https://www.imdb.com/title/tt0993846/">film adaptation</a> depict Belfort’s story as celebration of wealth and power, rather than a critical review of his fraudulent behaviour.</p> <p><strong>Where are all the good stories?</strong></p> <p>Feature films about female entrepreneurs are few and far between.</p> <p><a href="https://journals.aom.org/doi/abs/10.5465/AMBPP.2020.21276abstract">Research</a> from one of the authors examined English-language films from 1986 to 2016 with female entrepreneurs as the central character. Over the 30-year period, only 11 films about women entrepreneurs were identified – fewer than the number of <a href="https://www.macworld.co.uk/news/apple/steve-jobs-movies-documentaries-to-watch-3786148/">films about Apple co-founder Steve Jobs</a> alone.</p> <p>From <a href="https://www.imdb.com/title/tt0092605/">Baby Boom</a> (1987), where Diane Keaton’s character starts a baby food business, to Melissa McCarthy’s brownie empire in <a href="https://www.imdb.com/title/tt2702724">The Boss</a> (2016), these films overwhelmingly depicted female entrepreneurs as running small-scale kitchen table businesses in female-dominated industries.</p> <p>These movies told stories of cleaning, as in <a href="https://www.imdb.com/title/tt2446980/">Joy</a> (2015) and <a href="https://www.imdb.com/title/tt0862846/">Sunshine Cleaning</a> (2008); fashion, as in <a href="https://www.imdb.com/title/tt2361509/">The Intern</a> (2015); and not-for-profit work, as in the <a href="https://www.imdb.com/title/tt0116313/">First Wives Club</a> (1996).</p> <p>Businesses depicted typically had low numbers of paid employees. The entrepreneurs were resource-poor, and most often it was a supporting male character who helped the female entrepreneur succeed.</p> <p>Additionally, the study found a woman starting her own business is seemingly not enough to hold audience attention: all films included a parallel romantic storyline.</p> <p><strong>The female entrepreneur as role model</strong></p> <p>Celebrating successful female role models <a href="https://www.sciencedirect.com/science/article/pii/S0167487011000353">encourages women</a> to dream big and succeed in male dominated arenas.</p> <p>Role models provide a source of inspiration and contribute to self-belief. As the quantity of entrepreneurship related media increases, so does the amount of <a href="https://link.springer.com/content/pdf/10.1007/s11365-006-0018-8.pdf">entrepreneurial activity</a>.</p> <p>However, negative portrayals of careers may <a href="https://psycnet.apa.org/record/1997-04591-001">prevent</a> people from considering a profession.</p> <p>The case of Holmes and Theranos is damaging for the <a href="https://www.bloomberg.com/opinion/articles/2018-03-14/theranos-misled-investors-and-consumers-who-used-its-blood-test">betrayed</a> customers and investors, but also for the field of entrepreneurship, which only in recent decades has seen its reputation overhauled.</p> <p>Entrepreneurship was once the <a href="http://cup.columbia.edu/book/a-brief-history-of-entrepreneurship/9780231173049">domain of racketeers</a>. Over time, it has evolved to be the domain of tech celebrities, socially conscious founders and a vehicle for upward social mobility – but still, too often, a domain of men.</p> <p><a href="https://www.taylorfrancis.com/books/e/9780429279836/chapters/10.4324/9780429279836-26">One study</a> investigated how female entrepreneurs are featured on the cover of Entrepreneur magazine. Women were vastly outnumbered by men on the cover, and were often portrayed in a stereotypical female fashion.</p> <p>Words surrounding images of women tended to be about nurturing, health, beauty and fashion. Wording accompanying images of male entrepreneurs talked of power, innovation and risk taking.</p> <p>Women were “glamified” in full make-up and focus given to their face, while men were more likely to be standing and set against a corporate colour palette.</p> <p>How we tell stories of female entrepreneurs matters.</p> <p>In order to achieve equity in entrepreneurship, we need to acknowledge the role of the media in filling the entrepreneurship pipeline.</p> <p>Positive depictions of innovative women act as a mirror, showing girls and women what they can achieve. We need more, and better, stories about female entrepreneurs so stories about female innovation aren’t limited to failure and fraud.</p> <p><em>Written by Bronwyn Eager and Louise Grimmer. Republished with permission of <a href="https://theconversation.com/the-inventor-tells-a-story-of-a-fraudulent-female-billionaire-where-are-the-films-starring-successful-women-entrepreneurs-145922">The Conversation.</a> </em></p>

Movies

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The pros and cons of becoming an entrepreneur later in life

<p><span>34-year old Mark Zuckerberg might seem like the poster child for successful entrepreneurs – but, as it turns out, his youth actually puts him in the minority. <a href="https://www.forbes.com/sites/nextavenue/2018/08/05/proof-that-the-most-successful-entrepreneurs-are-older-ones/#6efd3d4d42dd">Forbes reports</a> that the majority of successful entrepreneurs are middle-aged or older. According to <a href="https://www.entrepreneur.com/article/235357">Entrepreneur</a>, People older than 55 years of age have double the likelihood of launching a high-growth business venture as compared against people under the age of 35.</span></p> <p><span>Why is that? Let’s take a look at some of the reasons senior citizens tend to make <a href="https://www.inc.com/leigh-buchanan/next-act-why-age-isnt-the-only-thing-that-sets-older-entrepreneurs-apart.html">outstanding entrepreneurs.</a> Let’s also discuss a <a href="https://www.score.org/blog/pros-and-cons-starting-business-over-55">few of the things</a> that can hold seniors back from success in entrepreneurship.</span></p> <p><strong>The pros of becoming an entrepreneur later in life</strong></p> <p><strong>Life experience gives seniors an advantage</strong></p> <p>The longer you live, the greater your accumulation of life experience. An older person has a fundamental understanding of how long any given project is likely to take, how much money is realistically needed to accomplish a given task and how human relationships function. In contrast, lack of life experience can put younger founders at a disadvantage in understanding each of these areas.</p> <p><strong>Seniors are likelier to have well-developed professional networks</strong></p> <p>Many senior citizens have spent decades in the workforce and have cultivated a lifetime’s worth of professional contacts. Solid human relationships are important for every facet of business – including finding trustworthy suppliers, hiring talented employees and finding qualified customers.</p> <p><strong>Seniors are likelier to be able to fund their businesses</strong></p> <p>People tend to accumulate wealth as they age. This is in part because salaries often grow in correlation with experience, and experience grows with age. As salaries grow, they can be invested to create even more wealth. Sure, there are broke seniors and affluent young people -- but, in many cases, age can be a major advantage when it comes to securing the funds necessary to manage a business.</p> <p><strong>Cons of starting a business later in life</strong></p> <p><strong>Seniors may need to update their business skills</strong></p> <p><span>Many, but not all, seniors have demonstrated the ability to <a href="https://www.pcworld.com/article/2153080/baby-boomers-embrace-technology-as-much-as-younger-users.html">keep pace with technology trends</a> as well as young people do. But if you’ve fallen behind, you might have to invest some effort in educating yourself about whichever up-and-coming technologies will affect your own business and the businesses of your customers. This is an ongoing obligation that isn’t unique to seniors; everyone has to worry about the ever-accelerating pace of technological innovation in the future economy.</span></p> <p><strong>Seniors are less likely to have attained beneficial levels of higher education</strong></p> <p><span><a href="https://www.theherald.com.au/story/5905528/the-x-y-breakdown-of-generations-in-australia/">The Herald reports</a> that  Australian baby boomers’ participation rate in higher education has been weak as compared against that of Generations X and Y.</span></p> <p><span>Considering that the <a href="https://www.entrepreneur.com/article/312943">typical entrepreneur</a>  is well educated, higher education could potentially be a factor that increases one’s chances for success in business. One survey of successful entrepreneurs showed that the vast majority (more than 95 percent) hold bachelor’s degrees, whilst nearly half (47 percent) hold master’s degrees.</span></p> <p><span>An important takeaway: If you’re considering entrepreneurship, and you haven’t already studied <a href="https://online.scu.edu.au/business-courses/">business courses</a>, you’re likely to find them helpful.</span></p> <p><span>Senior citizens are well suited for entrepreneurship. Overall, there are more pros than cons to starting a business later in life. There are definitely many advantages to choosing <a href="https://www.theguardian.com/small-business-network/2015/nov/02/retirement-meet-the-60-something-entrepreneurs">entrepreneurship over retirement</a>.</span></p>

Retirement Life

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The new technology that allows you to grow your income and become an entrepreneur

<p><span style="font-weight: 400;">The cost of living is continuing to rise in Australia, but retirees’ don’t have the income to match it.</span></p> <p><span style="font-weight: 400;">Naturally, they’re turning to a new and fresh source of income. </span></p> <p><span style="font-weight: 400;">Seniors are increasingly renting out spare rooms, opening their doors to travellers and letting them into their homes to increase their finances and beat loneliness.</span></p> <p><span style="font-weight: 400;">Australians aged over 60 are flocking to sites such as Airbnb and HomeAway to list their properties as the cost of living has a sharp bite.</span></p> <p><span style="font-weight: 400;">On Airbnb, seniors are the fastest growing host demographic in Australia, raking in $158 million in 2017, new figures from Airbnb revealed.</span></p> <p><span style="font-weight: 400;">Seniors group COTA Australia’s chief executive Ian Yates have said that older people are embracing modern platforms to supplement their pension or superannuation.</span></p> <p><span style="font-weight: 400;">“It’s an obvious way for people who have the room to generate a bit of extra income, depending on where they live of course,” he told </span><a href="https://www.news.com.au/finance/money/room-to-grow-seniors-incomes-as-retirees-become-entrepreneurs/news-story/1477d2497a7a5844151aed2c47de5a89"><span style="font-weight: 400;">news.com.au</span></a><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">“For the majority, the motivation is income based, but some also do it for the interaction with other people, meeting people from overseas and interstate.”</span></p> <p><span style="font-weight: 400;">Airbnb Australia country manager Sam McDonagh agrees.</span></p> <p><span style="font-weight: 400;">“Seniors are turning their empty nests into income engines allowing them to supplement their income and stretch savings further,” McDonagh explained.</span></p> <p><span style="font-weight: 400;">However, the Insurance Council of Australia warned against relying on the host protection insurance offered from the different platforms, as there are gaps in the coverage.</span></p> <p><span style="font-weight: 400;">Spokeswoman Lisa Kable explained that most do not cover loss or theft of personal items, cash, pets and public liability in shared areas.</span></p> <p><span style="font-weight: 400;">“Householders who offer their houses or apartments on short-term holiday rental websites are likely to find they are not protected by home and contents insurance,” Kable said.</span></p> <p><span style="font-weight: 400;">“I have heard frightening stories of homeowners returning after short-stay guests have departed to find a completely empty house or that their home has been used for illegal activities.”</span></p> <p><span style="font-weight: 400;">Do you use Airbnb or HomeAway to rent out your spare room? Let us know in the comments.</span></p>

Money & Banking

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The embarrasing mistake that saw Shark Tank judges reject a $1.37 billion idea

<p>Investors on the US version of Shark Tank have just realised the huge mistake they made in turning down an entrepreneur who just sold his company to Amazon for US$1 billion (NZ$<span>1.37 billion)</span>.</p> <p>Jamie Siminoff approached the sharks with his product, a smart video doorbell called Ring, which allows people to answer their door via their smartphone – even if they’re not home.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 658px; padding: 0; width: calc(100% - 2px);" class="instagram-media"> <div style="padding: 8px;"> <div style="background: #F8F8F8; line-height: 0; margin-top: 40px; padding: 50% 0; text-align: center; width: 100%;"> <div style="background: url(data:image/png; base64,ivborw0kggoaaaansuheugaaacwaaaascamaaaapwqozaaaabgdbtueaalgpc/xhbqaaaafzukdcak7ohokaaaamuexurczmzpf399fx1+bm5mzy9amaaadisurbvdjlvzxbesmgces5/p8/t9furvcrmu73jwlzosgsiizurcjo/ad+eqjjb4hv8bft+idpqocx1wjosbfhh2xssxeiyn3uli/6mnree07uiwjev8ueowds88ly97kqytlijkktuybbruayvh5wohixmpi5we58ek028czwyuqdlkpg1bkb4nnm+veanfhqn1k4+gpt6ugqcvu2h2ovuif/gwufyy8owepdyzsa3avcqpvovvzzz2vtnn2wu8qzvjddeto90gsy9mvlqtgysy231mxry6i2ggqjrty0l8fxcxfcbbhwrsyyaaaaaelftksuqmcc); display: block; height: 44px; margin: 0 auto -44px; position: relative; top: -22px; width: 44px;"></div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/2oucHqgEEf/" target="_blank">A post shared by Ring (@ring)</a> on May 13, 2015 at 1:57pm PDT</p> </div> </blockquote> <p>At the time of his pitch, Siminoff valued the company at just $7 million, and offered the sharks a chance to get in at the ground floor for $700,000, which would give them a 10 per cent stake in the company.</p> <p>In what’s now the most embarrassing moment in the show’s history, the sharks brutally shut Siminoff and his idea down, with one shark even telling him, “You’re dead to me,” after a counter offer was rejected.</p> <p>See the embarrassing moment below.</p> <p><iframe width="560" height="315" src="https://www.youtube.com/embed/6UPwDIBiAzE" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen=""></iframe></p> <p><em>Image credit: Shark Tank.</em></p>

Money & Banking

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5 hobby ideas from famous entrepreneurs

<p>Looking for a new way to pass the time? You don’t need to be a billionaire to have fun like one. Here are some great ideas for hobbies from some of the world’s richest and most famous entrepreneurs.</p> <p><strong>Warren Buffet – playing the ukulele</strong></p> <p>The legendary businessman and expert investor has a net worth of almost US$75 billion, but forget yachting and gardening – Buffett’s hobby of choice is the humble ukulele. The 86-year-old has even performed live with his Emmy award-winning composer son Peter Buffett. In fact, Peter claims it was his father’s ukulele skills, which won over his mother!</p> <p><strong>Bill Gates – collecting old books</strong></p> <p>You might think the man behind Microsoft would be strictly digital, but the 61-year-old entrepreneur has a real soft spot for the written word, owning a large in-home library with a Great Gatsby quote engraved on the ceiling. Not only does he love tracking down old books (he once paid over US$30 million for a collection of writings by Leonardo da Vinci), but Gates also loves a bit of tennis, golf and bridge.</p> <p><strong>Mark Zuckerberg – hunting and preparing food</strong></p> <p>The 32-year-old founder of Facebook has enough cash to buy the most exquisite cuts of meat without needing to get his hands dirty, but Zuckerberg prefers to do the work himself. Whether you’re pro- or anti-hunting, you can’t fault the reasoning behind his favourite pastime – “I feel like if you’re going to eat meat, then you should be a part of getting, you should get to know where it comes from”.</p> <p><strong>Elon Musk – collecting James Bond memorabilia</strong></p> <p>Musk, who founded Tesla Motors and has a net worth of around US$13 million, is a huge Bond fan. He loves 007 so much, he even owns the famous Lotus Esprit from 1977’s The Spy Who Loved Me and is rumoured to be converting it into a car/submarine hybrid like in the film. But you don’t have to be rolling in cash to start your own collection. <a href="http://www.oversixty.com.au/lifestyle/retirement-life/2016/05/collect-these-things-now-to-make-money-later/"><strong><span style="text-decoration: underline;">Click here</span></strong></a> to find out how you can turn your love of pop culture (or anything, really) into a valuable collection.</p> <p><strong>Walt Disney – model trains</strong></p> <p>If you’ve ever visited Disneyland, this fact mightn’t surprise you, but the man behind the Disney empire absolutely loved trains. The creative genius kept a massive model train set in his office as well as one in his backyard. In fact, if it weren’t for trains, Disney and all its films, toys, theme parks and more might not have existed today – the idea for Mickey Mouse only came to him while riding a train.</p> <p>Tell us in the comments below, what’s your hobby of choice?</p> <p><strong>Related links:</strong></p> <p><a href="http://www.oversixty.co.nz/lifestyle/retirement-life/2017/01/hobbies-that-boost-brainpower/"><span style="text-decoration: underline;"><em><strong>3 fun hobbies that can boost your brainpower</strong></em></span></a></p> <p><a href="http://www.oversixty.co.nz/lifestyle/retirement-life/2016/12/5-benefits-of-knitting/"><span style="text-decoration: underline;"><em><strong>5 benefits of knitting</strong></em></span></a></p> <p><a href="http://www.oversixty.co.nz/lifestyle/retirement-life/2016/05/collect-these-things-now-to-make-money-later/"><span style="text-decoration: underline;"><em><strong>Start collecting these things now and make a fortune later</strong></em></span></a></p>

Retirement Life

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From PTSD to entrepreneur

<p>With an award-winning business under her belt, Over60 sat down with mum-of-three and ex-Police officer, Nicole Graham, to talk about how suffering PTSD and mitral valve prolapse led her to start Emergency ID to help others like her.</p><p><strong><strong><img width="162" height="205" src="https://oversixtydev.blob.core.windows.net/media/1221/nicole-police-pic_162x205.jpg" alt="Nicole Police Pic" style="float: left;"></strong> You used to work in the Police force, why did you decide to leave?</strong><br>“I joined the Police force in 1989 at the age of 20. I had a strong sense of social justice and enjoyed the mateship within the force. We literally put our lives in each other’s hands and faced the most harrowing experiences side by side.</p><p>I was a ‘career cop’ and my ultimate aim was to become the first female commissioner. However, that all went pear-shaped when, like so many other Police, I was struck down with post-traumatic stress disorder (PTSD) after 13 years.</p><p>During my time stationed in busy western Sydney and remote rural communities, I experienced many horrific situations – fatalities, sieges, autopsies, stabbings, suicides, accidents and domestic violence – and I specialised in taking statements from sexually and physically abused children.</p><p>It eventually took its toll and I was severely affected by flashbacks, depression and anxiety. Most people don’t realise the huge amount of stress Police deal with and they have an extremely high rate of PTSD, depression, divorce and suicide. We need to look after and appreciate our Police a lot better than we do.”</p><p><strong>You’ve had major heart surgery, can you tell us about this?</strong><br>“I was 34-years-old and the mother of two young children. I was into fitness and competing in biathlons. During a routine GP visit I mentioned that I had been experiencing dizziness, vomiting and tiredness but had been pushing through to maintain my fitness.</p><p>[The doctor] listened to my heart and sent me immediately to a cardiologist. Within a week I was in St Vincent’s Hospital having open heart surgery. I was diagnosed with mitral valve prolapse, which meant oxygenated blood was not pumping around my body as it should, and told I was extremely lucky that I didn’t have a massive heart attack.</p><p>It was a long and slow recovery after a few complications, life support, intensive care and rehabilitation.</p><p>Living through such a traumatic time made me realise what is important in life. In the long run it changed me for the better. They say what doesn’t kill you makes you stronger – and that was certainly the case for me.”</p><p><strong>Was this surgery one of the reasons you started your business?</strong><br>“One of the outcomes of my heart issue was that I was recommended to wear medical jewellery so that if anything happened to me in the future, medical or emergency personnel would have some knowledge of my history.</p><p>That’s when I found there were very limited choices available and it was generally very unattractive – I guess as a 30-something young woman I didn’t fit their target market!</p><p>It got me thinking and I realised that members of my own family would have benefited from medical jewellery too.</p><p>I had an uncle with an intellectual disability who was killed by a drunk driver. He had spent hours in the hospital and then the morgue before we even knew anything had happened because he had no ID on him.&nbsp;</p><p>My father suffered from cancer when he was 26 until his passing at 43. He had great difficulty remembering his lengthy medical history, medications and contact details of specialists. Medical staff really needed to know those details so he could be treated correctly but he didn’t wear or carry anything as there was nothing suitable.</p><p>I also knew from my time in the Police, that it is so difficult to contact people in times of emergencies. Often the only details we had of those seriously injured, or worse, was an address from their licence. We were so often unable to contact loved ones and many heartbreaking moments could have been avoided if people carried emergency information on them.”</p><p><strong>What is Emergency ID all about?</strong><br>“Emergency ID is all about having a huge variety of products and services to relay vital information to first aiders, emergency services and hospital personnel if you are involved in an accident or medical incident. It’s all about providing information that could save your life, rather than leaving those treating you guessing if you have any previous medical conditions, medications or history that can affect your treatment.&nbsp;It’s also about having emergency contacts on or with you at all times so that the correct people can be notified and with you when you need it the most.”</p><p><strong>What are you most proud of in relation to your business?</strong><br>“Nine years ago the business consisted of a laptop on my dining room table and five products. We now have the largest and most diverse range available and we are world leaders in our field. We have also been independently judged and awarded numerous times – we are the most awarded in our field. We’re proudly 100 per cent Australian and AUSBUY accredited.</p><p>I am also very proud that as we grow we are becoming more and more involved in giving to charities and organisations. For example, we have proudly supported the Love Your Sister campaign, we are in a fundraising partnership with The McGrath Foundation, and I recently did the St Vincent’s CEO Sleepout, where I slept out on the street to raise money for the homeless. We also proudly donate Emergency ID to those in dire financial need and who are homeless though the Matthew Talbot Hostel and St Vincent de Paul Health Clinic in Kings Cross, NSW.</p><p>Lastly I am very proud to have just become a volunteer speaker for Beyond Blue, working to reduce the impact of depression and anxiety in the community by raising awareness and understanding, empowering people to seek help, and supporting recovery, management and resilience.”</p><p><strong>What’s next for you?</strong><br>“Doing more community work.&nbsp;I have lots of speaking engagements including one for Beyond Blue and supporting more and more charities and community events.&nbsp;I’d also like to take Emergency ID Australia worldwide, so we can not only assist Australians, but anyone who could benefit from wearing or having Emergency ID in a crisis.&nbsp;Oh, and travelling and being with the loves of my life – my husband and my three children. My 20-year-old skydiving instructor son, my 18-year-old budding lawyer daughter and an overly loved, attention-seeking four-year-old. Yes, there is a huge age gap there.”</p><p>&nbsp;</p><p>&nbsp;</p>

Money & Banking

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9 tips for starting a business

<p>Always dreamed of starting a business? Well, there’s no better time than the present. Here’s nine tips to help get you started.</p><p>Whether you’d like to take your passion for sewing, cooking or helping others further, or if you wouldn’t mind a bit of extra money in retirement, starting a business can not only keep your mind and body active, but you’ll be benefiting the wider community.</p><p>The new wave of entrepreneurialism isn’t young Richard Branson types, its people in their 50s and 60s who have skills in a range of trades or activities and the time to invest in getting a business off the ground.</p><p>Dr Alex Maritz, associate professor of entrepreneurship at Swinburne University of Technology, says senior entrepreneurship is a significant phenomenon across the globe. “Sixty is the new 50. People aged 50-65 have a higher rate of entrepreneurial activity than those aged 20-34, so what are you waiting for?” he says. “This is the fastest growing segment of entrepreneurship across the globe.”</p><p>If you think you have what it takes to start your own business, here’s a few of Dr Maritz’s tips for getting started.</p><p><strong>1. Make a profit from your passion</strong></p><p>A hobby to supplement your income is always first prize. Your mature skills and social aptitude drive your motivation, skills and, more importantly, the opportunity to achieve. Risk and reward are always a trade-off, but better so when you do something you enjoy doing.</p><p><strong>2. Surround yourself with likeminded people</strong></p><p>Network with other seniorpreneurs who are also starting new ventures. Just think of all those combined skills and professional services you may obtain at mates’ rates. Even sports clubs for seniors are fantastic networking opportunities. Positive environments promote proactivity, innovation and calculated risk-taking. Network with niche organisations such as Seniors Australia.</p><p><strong>3. Work anywhere you want</strong></p><p>Starting a business no longer necessarily requires a brick and mortar office or storefront. If you do require an office, share space at incubators and networks. Flexibility is the name of the game. Virtual offices are the domain of entrepreneurs.</p><p><strong>4. As you grow seek help from part-timers</strong></p><p>Manage your resource cost and remember, the best human resource is usually shared. And it’s not always physical, many services are offered and procured online. Do not overcommit by hiring permanent staff. Fixed costs are dead weight!</p><p><strong>5. Get creative if you need funding</strong></p><p>Friends and family are always a great option to top up the finances to start your business. Other options include grants, contests and crowd funding. Suppliers may well provide valuable credit terms. Use your own credit history to secure additional funds.</p><p><strong>6. Top up your skills</strong></p><p>Upskill your entrepreneurship education and training (classes and online). This may sound cumbersome, but enhancing your business acumen pays dividends. If you go to classes, it’s a valuable networking opportunity as well. Most providers also offer online modules.</p><p><strong>7. Get savvy online</strong></p><p>Remember, 97 per cent of consumers search the internet for goods and services. A website and blog go a long way to enhancing your referrals, customer retention and related sales. Even if your business is not online, a virtual presence is essential.</p><p><strong>8. Working on the go with your mobile</strong></p><p>Similar to making your workspace fit your lifestyle, your mobile device (smartphone) is your new mobile office. Real time communication necessitates real time response; not just a by-product of your office environment.</p><p><strong>9. Spread the word with social media</strong></p><p>Hand in hand with digital and internet technology, this is an ideal entrepreneurial marketing avenue open for start-ups. Scan the many online tutorials to assist in this regard.</p><p>If you’d like to share your thoughts, get resources and connect with likeminded people, take a look at SeniorPreneurs.org. Co-founded by Dr Maritz, it’s a social community of people over 50 who have a passion for business start-ups.</p><p>&nbsp;</p>

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