Why a revived perspective can do good both in your business and personal life
Hi it’s Scott from Scott Partners and today we have Lorraine Pirihi from Relaunch Your Life. Lorraine discusses how he helps Baby Boomers to wind down a bit and to have more fun back into life. She helps them to clearly know what the Baby Boomers and other small business owners want to achieve and by taking action not within their comfort zones.
Contact No. 0411 145 166
SCOTT: Hi, and welcome to Small Business Heroes, the show that’s all about and all for small business owners. Today I’m talking with Lorraine Pirihi, who is an author, entrepreneur, and speaker, and is a specialist Baby Boomer coach. She works with Baby Boomers to help them reignite their business mojo. A regular in the media and a prolific blogger, Lorraine taps into her experience in business to bring to life the challenges that Baby Boomers face.
Now, at 53, she hit the wall of Baby Boomer burnout: worn out by the business treadmill that made every day feel like Groundhog Day. I’m sure we’ve all been there. She found inspiration in creating Relaunch Your Life, developing powerful programs combining small business and live coaching. These are designed specifically to help Baby Boomer business owners renew their business mojo, avoid burnout, and create more fulfilling, balanced lives.
Lorraine Pirihi, welcome to the Small Business Heroes show.
LORRAINE: Well, thank you, Scott, and if I didn’t know you were an accountant I would’ve thought you were made for radio.
SCOTT: Certainly with a face like mine, I’m made for radio. Lorraine, tell us a little bit about what you do for small business owners, especially in those Baby Boomer areas.
LORRAINE: A lot of Baby Boomers, they’ve come to a stage in their life where they’ve been working for a lot of years, and so many Baby Boomer business owners have been in business for a long period of time. They want a bit more enjoyment. They want to wind down a bit, have more fun back into life. They get a bit concerned about all that, but sometimes they just don’t know what to do. And that’s where I come in.
SCOTT: Is the Baby Boomer generation nearing retirement now, or are they sitting there after the GFC saying “I’ve got to just keep working until I pop off”?
LORRAINE: It’s a combination. A lot of them that I’ve been working with, they’re in their late 50s/early 60s. Some don’t want to actually wind back at all because it’s their purpose, their baby. They just want to reignite a bit more spark. But as you know, as you get older you do have to start looking at your finances, and have you made enough? Will you have a comfortable lifestyle after retirement? For many Baby Boomers and those who are in business, they definitely may not have that at all.
SCOTT: I’m not a Baby Boomer; I’m a more Gen Xer, and I know in my life, there’s been so much changes, especially since post-2000 in relation to the internet and the way that business is being done. I can only imagine the amount of change that Baby Boomers have to comprehend in their business lives. How are they adapting to this change?
LORRAINE: Well, slowly, for a lot of them. Because I work a lot in the financial services, like accountants and what have you, some of them are really behind the times. They’re in their bubble and not recognizing that they’ve got to change. Because if you’re green, you’re growing, and if you’re not, you’re rotting. And many are rotting. You can see that. You can see how they present themselves. When they’re tired and worn out and over it, they get worn out at everything. Then they also start to pile on weight, and just not even be good to be around.
SCOTT: How much does your program then delve into the mental aspects of Baby Boomers and the business owners?
LORRAINE: Quite a bit. I wish there was someone like me around when I got tired and worn out and over it, by the way. I couldn’t find anyone who understood the business. They do have business coaches, procedure systems and processes – nah, I wasn’t interested in that. I understood business, but I needed someone who could understand the mental side and what I was going through.
So yes, definitely. We’ve got to find out, why have you lost your confidence? Why have you lost your mojo? What’s stopping you making decisions right now? And there’s a whole lot of things. They’re often scared to make decisions in case those decisions don’t work out and they may not be able to come back from them. So when you say do you look at the mental side, we certainly look at that side of things as well.
But once we get clear on what they want to achieve, then we look at “Okay, how do we go about doing it?” Because they’re all right working out what, but then you’ve got to take action, and what I call “make shit happen.” It’s no good just thinking about it, getting knowledge, and doing nothing with it because you’re still stuck in the same place.
SCOTT: Absolutely. What are the danger signs for Baby Boomers that they may be hitting a wall, that they might be getting to that “grand old day” stage? Is there any warning signs?
LORRAINE: Yeah, there’s a lot. They obviously don’t feel good about themselves, they get grumpy. They don’t really take part in life. They get non-communicative. They have this feeling sometimes they just don’t want to get out of bed in the morning. They’ve got nothing to look forward to. Often they’ll let their business go. I’ve seen this many times – I’m not sure what the exact rates are, but their $25-$30 an hour person is running the whole show, and they’ve left the building. So they’ve got this business, but somebody else is running it and not doing the best of it for them. They sort of abandon ship. They check out.
SCOTT: Is it something that they can bring a younger person in and give them energy to keep going? Or is it more they’ve got to get right in their own mind so that they can then re-energize the business?
LORRAINE: They have to get themselves sorted first before they bring someone else on board. You can’t outsource that. It’s about regenerating yourself, reinventing yourself, recreating yourself so that you can be happier and healthier. Ignite that spark back into life again. You’re not dead and over it – but you could be very quickly if you lose that spark and lose your sense of purpose in life.
SCOTT: Really good point. I’m going to ask you this: if you don’t re-energize yourself and reinvigorate yourself and get that spark back, you just decide to either close your business or sell it for a very minimal amount, what happens to those guys? Do they find any happiness on the beach in retirement?
LORRAINE: No. People are scared of retirement, because it’s like “What am I going to do?” Because that’s their whole purpose. That’s their baby in life. That’s why it’s really important, when you’re going to do that transition from having your own business and you’re going to move away from it or transition and sell it, it’s really important to get the steps in place and look at what are all the different challenges around it. Have a plan in place, and then gradually make the transition. Because these things don’t happen overnight. It does take time. It’s about getting their head right around it and feeling good about what they’re about to do. It’s very, very important.
I had a client, an accountant, ideal for my target market – “been in business since Christ was born” scenario.
SCOTT: I know him.
LORRAINE: Nearing the age of 60, and he’d checked out. Unhappy about everything, relationships, work, staff, everything. He just wasn’t having enjoyment and something to look forward to in life. We basically got him sorted around that, and then eventually – he’s actually sold the practice and will be going back into consulting part-time. But it’s been a process. It’s not a 2-minute job. These things can take months, depending on where they’re at already in life.
SCOTT: What’s the #1 piece of advice you could give Baby Boomers who may be approaching that “grand old day” type of feeling?
LORRAINE: When you get that feeling, quite often you’re on that burnout phase, just burnt out by life in general. Best bit of advice: get help. Go to someone – I’m not saying go to your accountant or people like that, because that’s not where you need to be. You need to go to someone who can help you, see what’s really going on, get clear, and really have you regain your confidence again and get you clear on where you want to go and help you to get there.
That’s what I do. I specialize specifically, though, with the Baby Boomer business owners, because they’re the ones who have spent a lifetime and have gone through a whole lot of stuff in their lives. You’ve got to really understand them. Going to someone younger, they don’t get it.
SCOTT: I totally agree. That’s just fantastic advice; thank you, Lorraine. For those people that are watching or listening to us or reading the blog, how can they find out a little bit more about you and find out if they do need that sort of help?
LORRAINE: They can go to my website, which is RelaunchYourLife.com.au. If you’re feeling like you’re tired, worn out, and over it, don’t avoid it; give me a call: 0411 145 166. Because when you get like that, particularly for men, you can start seeing depression, and who knows how far you can go if you don’t get the right person to help reignite your spark again.
SCOTT: Great. We’ll make sure that those details get put below the video that you’re watching right now so that you can contact Lorraine. Lorraine Pirihi, thank you so much for talking to us today on Small Business Heroes. There’s certainly a lot of small business heroes out there that are in that Baby Boomer phase, and I’m sure – I walk around small business and I see a lot of people looking very jaded and burnt out. So anyone who’s out there trying to reinvigorate and re-energize, those people who have done so much for our community and our society, it’s just a wonderful thing that you’re doing. So thank you so much for sharing with us today.
My name’s Scott Trevethan. I’m from Scott Partners and Go Global Bookkeeping Services. It’s been a pleasure to bring this show, Small Business Heroes, to you today. If you’d like to contact us, we’re at www.ScottPartners.com.au or www.GoGlobalBookkeeping.com. I’m Scott Trevethan. You’re listening to Small Business Heroes.