When forming an LLC, it’s easy to get caught up in complex marketing strategies, Facebook pages and the benefits of cloud computing, but business wisdom sometimes boils down to the lessons learned from grandparents.
Bettina Hein writes in Mass Tech High that that the patience, hard work and even marketing ideas her business now relies on she initially learned from the patriarchs and matriarchs of her family.
“Starting out is hard, it will take your company three to four years to really get off the ground,” her grandmother told her when Hein started her own company. “I was in my twenties and thought to myself, ‘What does she know? This is a high-tech software company, and she had a corner grocery store.'”
Another grandfather taught Hein about marketing. A chemist in Germany in the 1920s, he discovered the tasty mix of alcohol and carbonated fruit juice. He gave out the drink for free to patrons at local establishments, which generated demand and eventually a profitable business.
With many of the Greatest Generation now enjoying their retirement years, many companies are looking to provide services for the aging U.S. population. Healthcare and long-term care are expected to be growing industries in the next 10 years, according to the U.S. Bureau of Labor Statistics.
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