Bob Clyatt quoted in Business Week

[Nords]

"How To Quit—Without Quitting" gives tips on setting up a consulting practice.

Frankly I think the article is a typical thinly-veiled Boomer plea to keep paying those payroll taxes to save Social Security & Medicare. It's written on deadline by journalists who wouldn't have a clue about ER if it bit them in their @$$ets. And it's only accessible for now if you're a BW subscriber. But then I shouldn't expect to find lyrical retirement paeans in a magazine with "Business" in its title.

Anyway here's Bob's quote on how to back off from full-time workweeks to a part-time consulting career: "Whatever you do, don't look like you're retired. 'If you sit down with clients looking tanned and relaxed, it can work against you,' says Bob Clyatt, author of Work Less, Live More: The New Way to Retire Early. ' You don't want to make this look like a hobby, or like you're just puttering around.' Even if that's what you're really doing."

Bob, is BW going to publish more in other articles, or is this all they decided to use after interviewing you?!? How much of your time did they take for this?

 

[Martha]

Anyway here's Bob's quote on how to back off from full-time workweeks to a part-time consulting career: "Whatever you do, don't look like you're retired. 'If you sit down with clients looking tanned and relaxed, it can work against you,' says Bob Clyatt, author of Work Less, Live More: The New Way to Retire Early. ' You don't want to make this look like a hobby, or like you're just puttering around.' Even if that's what you're really doing."

Hey, we haven't heard from Bob lately have we.

I agree with Bob that it works against you to look retired. I am having that problem now. I primarily do work for two large clients. I know their representatives well so they know my plans and how I have cut back. One persists in treating me as a shorttimer, like I am going to be gone any minute so maybe someone else should be doing their work . This is after close to two years of part timing it. The other is fine. With the one client, I would have been better off not talking so much about part timing it, taking time off, etc.

 

[CCdaCE]

Thanks for the link, Nords.

Along these lines, has anyone read any "good books" relating to starting a business? Not the textbook crap of "write a business plan", "get financing", or anything like that, but stuff like how Dell got started or Merry Maids, or Starbucks, or whatever. Maybe a nice collection of stories about "how the little guy broke through".

How they got the idea. Where they started. What they did in their "previous life". Etc.

For instance, my parents started a business that they knew nothing about. I think there was more hard work than luck, but the old man won't spill his guts enough for me to learn about it. From my perspective they did quite well for themselves. But, to this day... I have no idea:

1. How good of a deal the financing was (Pfft. Can't talk about money!).
2. How they selected their products, etc. (I'm not really sure what our profit margin was on that line, around 9%?) Etc. Etc.

Maybe I'm doomed if I can't parlay my skills into something to try, without reading to get ideas...

Just wondering if anyone has any recommendations.

-CC

 

[Mr._johngalt]

Thanks for the link, Nords.

Along these lines, has anyone read any "good books" relating to starting a business? Not the textbook crap of "write a business plan", "get financing", or anything like that, but stuff like how Dell got started or Merry Maids, or Starbucks, or whatever. Maybe a nice collection of stories about "how the little guy broke through".

How they got the idea. Where they started. What they did in their "previous life". Etc.

For instance, my parents started a business that they knew nothing about. I think there was more hard work than luck, but the old man won't spill his guts enough for me to learn about it. From my perspective they did quite well for themselves. But, to this day... I have no idea:

1. How good of a deal the financing was (Pfft. Can't talk about money!).
2. How they selected their products, etc. (I'm not really sure what our profit margin was on that line, around 9%?) Etc. Etc.

Maybe I'm doomed if I can't parlay my skills into something to try, without reading to get ideas...

Just wondering if anyone has any recommendations.

-CC

Hey.........I could write that book. Nah, too lazy.

Really though, I've probably done 7 or 8 smaller M and A deals, some
for me and some for others. Also worked for a couple of start ups.
I'll bet there are lots of books already out there. While perhaps not as good as what I could do, I assume the folks here will have suggestions.

OH, a final thought...........a lot of the guys who write articles about this
don't know jack. It's all theory. My stuff is on-the-ground, grinding it out
(I'm still in a Ray Kroc frame of mind) real life.

Tell you what. If you wish, PM me and I'll give you a sampling of 5 or so deals with the big issues involved. Then, details if you want more. How's that?

JG

 

[Nords]

Along these lines, has anyone read any "good books" relating to starting a business? Maybe I'm doomed if I can't parlay my skills into something to try, without reading to get ideas...

Well, laugh if you feel like it, but the "Complete Idiot's Guide" and "... For Dummies" series will answer all the basic questions and give you a great reading list.

Try Buffett's annual shareholder letters. "Behind the Golden Arches" is a classic, but you may be discouraged to realize how many times Ray Kroc came so close to losing it all. There are also stories that Fred Smith (Fedex) had to make payroll one month by winning at a Vegas blackjack table. Wozniak's "iWoz" book is coming out very soon, if it's not out already, and I'm sure it'll have similar tales of close calls.

You can learn a lot from bad business decisions, too-- "Origins of the Crash" and just about anything by Roger Lowenstein, Kurt Eichenwald, or Frank Portnoy.

If you subscribe to Business Week and keep an eye on their bestseller list you'll find additional jewels.

Friends of mine swear by the SBA classes/seminars and by anyone from SCORE. One of them volunteered at SBA for six months and said that it was better than an MBA program. A lot cheaper, too!

 

[CCdaCE]

Try Buffett's annual shareholder letters.

...

You can learn a lot from bad business decisions, too-- "Origins of the Crash" and just about anything by Roger Lowenstein, Kurt Eichenwald, or Frank Portnoy.

...

Friends of mine swear by the SBA classes/seminars and by anyone from SCORE. One of them volunteered at SBA for six months and said that it was better than an MBA program. A lot cheaper, too!

Yeah, bought the collection of Hathaway annual letters before I knew they were available online. Good stuff!

I've read "Good to Great" about companies that "made it big" when other, similar companies (same industry) didn't shoot the moon, but just did OK.

Thanks for your recommendation. Turns out theres a SCORE chapter in town. Hopefully when work slows down I'll have time to SCORE some knowledge. I wonder if they have a lot of sexual harassment issues?

http://www.isbn.nu here I come for some fresh readin'.

Thanks again.

-CC

 

[mickeyd]

Speaking of new retirement books, I am trying to read a new one entitled This is not Your Parents Retirement and, so far, it stinks. It contains nothing new and trys to lead the readers to the nearest "advisor" as it seems to imply that all of this financial stuff is way to complex for the unwashed general public.

I'll keep reading it and maybe my perception of the book will change with time, as I have only dipped into selected portions of it.

In as few words as possible, it does not appear to be as well written or as clear as Bob's book.

 

[BUM]

Maybe I'm doomed if I can't parlay my skills into something to try, without reading to get ideas...

Just wondering if anyone has any recommendations.

-CC

What skills are we talking about here? Making klystrons or donuts? All the mystery and hardships of starting a business is akin to How-Do-I-ER or how do I get out of business. Starting a business is like fretting about buying a house. Whats important is what goes on inside the house... and with those skills, you already know about that.

 

[Martha]

What skills are we talking about here? Making klystrons or donuts? All the mystery and hardships of starting a business is akin to How-Do-I-ER or how do I get out of business. Starting a business is like fretting about buying a house. Whats important is what goes on inside the house... and with those skills, you already know about that.

BUM! Where ya been?

 

[CCdaCE]

What skills are we talking about here? Making klystrons or donuts? All the mystery and hardships of starting a business is akin to How-Do-I-ER or how do I get out of business. Starting a business is like fretting about buying a house. Whats important is what goes on inside the house... and with those skills, you already know about that.

I am a Civil Engineer. But what service/etc. can I provide that Joe Public needs. Without getting into considerable amounts of risktaking. Everything I can dream up, it seems too risky or too simple. I guess that's why you make the bucks, taking on risk.


-CC

 

[BUM]

BUM! Where ya been?

Hi Mart!

Things are really busy here in heaven. Been at the beach for over 2 months, shrimpin', crabbin', metal detecting and dolphin watching. Last week the full moon, high tide and perigee (when the moon is closest to the earth) coinsided. The tides were very very high. Picture ducks paddling along main street.

Time to wash up... just popped the heads off 10 pounds of jumbo shrimp caught today. My neighbor is a commercial shrimper. At $3.50/lb DW is making cocktail sauce!
The big news is that the new hi-rises have given way to lots of open wifi connections...all this and free hi speed internet. We must be in heaven, man!.

BUM 8)

 

[Martha]

Bum, you and CT seem to have the nicest retirements!

Party at your house?

 

[BUM]

Bum, you and CT seem to have the nicest retirements!

Party at your house?

BYOBacardi, Sunscreen will be provided 8)