- on this editionof the best times, we explore the rise insenior entrepreneurs. you'll meet one of theworld's largest collectors of maps and globes, and we'll give you thefacts about breast cancer. funding for the besttimes is provided by the plough foundation, strivingto do the greatest good, by helping the greatestnumber of people since 1964. additional funding is providedby the members of wkno,
thank you. hello i'm cris hardawayand welcome to this edition of the best times, a seriesthat looks at life after 50. it's often been saidthat small businesses are the foundation ofthe american economy. you might be surprised tolearn that more than half of small business owners inthe united states are aged 50 or older. for some people, it's achance to be their own boss
for the first timein their lives. for others, it maybe their only option when they're forcedout of their career. but what does it take tostart a business after age 50? and what are thekeys to success? let's find out, by askingsome senior entrepreneurs. 67 year old charles barnesis going to work today at the company heowns, action chemical. and he wouldn't haveit any other way.
- i don't what retirement is, next year my wife and i willhave been married 50 years. i love her, buti just don't want to stay at home andwatch soap operas. that's just notwhat i want to do. i'm a golfer and i can'tplay golf every day. so this is fun for me. - charles barnes hasactually retired twice, the first time was at age 52
from a career as a salesexecutive at levi's strauss. then he retired a second time as part-owner of awholesale business. at age 62, he boughtaction chemical, a company that sellsjanitorial supplies to corporate clients. although going from sellingjeans to selling toilet paper, seems like quite astretch, charles knew that his years of experience would be
the foundation of his success. - you've got tohave good training, you've got to have organization,you've got to have drive. and all those things i hadin the corporate world, and i used it for someone else. now that i'm here, iuse it for my company. - charles barnes isa prime example of one of the latesttrends in business. - the millennial generationthinks and has this perception
that they're the millennial or they're theentrepreneurial generation. but if you lookat the statistics, published by thekaufman foundation, there are more startupsand new entrepreneurs between ages of 50 and 65in the last several years, than in themillennial generation. - the bureau of laborstatistics reports that there are 14.4 millionpeople in the us
that are self-employed. in a 2013 survey, 30 percentof all self-employed workers were 55 or older,followed closely by the 45 to 54 age bracket. mike hoffmeyer seesthis trend continuing, driven by economic conditions. - i think the economicenvironment has alot to do with it. you got people trying tore-enter the workforce and struggling to do that,but then at that age,
they have something thatyounger entrepreneurs don't in terms of experience, one,but also financial security. so they're moreequipped to venture out and start and be able totake a little more risk. - carmen brown isworking the phones at her staffing agency,nemarc professional services. she knows the risk ofstarting your own business. - this is a men's world. and a lot of times, we're nottreated favorably as a male.
and sometimes we haveto work extra hard to get in those doors. it's a struggle sometimes andyou just have to persevere. continue to do what you have to. knock on doors, sometimesdoors are slammed in your face but you just don't give up. - like charles barnes, carmen brown used her20 years of experience managing the customerservice department at ibm
to start her ownstaffing company. it was her disillusionwith corporate america that pushed her tobecome her own boss. - i think corporateamerica was changing. things were happening, therewere decisions being made. i was in the time wherecompanies were laying off. companies weren't the same,the benefits were changing. i didn't have that security. i said in order for meto have the security
it needs to be me. and that is exactly what i did. i stepped out asthey say, on faith. - at age 53, shefound that security in the business plan shewrote for her company. - i had something to follow. all i did was putmy ideas on paper. i read about businessplans, how you can do it, and i wanted to bea secure business,
no matter how long i woulddecide to stay in this business, i wanted it to be secure. - as mike hoffmeyer points out, a lack of a good businessplan is one of the biggest mistakes entrepreneurs can make. - well the biggest mistake is the 'build it andit'll come' approach. making assumptionsabout your market and not having any proof thatthose assumptions are true.
that's a very quick wayto waste a lot of time and money and escalateyour chances of failure. - michael taylor is showinghis client some design options for the interiorre-modeling of her home. his six year old design firmwas born out of necessity because his successfulcareer in data acquisition at a fortune 500 companycame to an abrupt end when he was laid off. - next thing is i walked intothe door, my boss grabbed me,
took me to a room with personnel and i was escortedoff the property. so in that short period,you realize your whole life is about to change and it wasthe day before my birthday, my 49th birthday and youjust roll with the punches. and i was probablysad for about an hour, but realised that ikinda had something else that i really wanted to do. that something elsewas interior design.
michael had been doingfreelance design work on the side for over a decade. so he decided to put his creative talentsto work, full-time. - so i've been doing itfull-time for six years, i don't make near themoney that i made before. but that's not the mostimportant thing in life. i mean, yeah you had tohave money to pay your bills and that kind of thing,
but it's not the mostimportant thing in life for me. i'm sure it's more importantfor others but for me, it was more important thatafter working in a company for 25 years, that iwanted to do something that would make me happy. - michael has combinedhis experience and his existingclient base with his passion for designto grow his own business. as mike hoffmeyer points out,
passion is one of thekey characteristicsof entrepreneurs. - you've got to be deeplypassionate about what it is that you're doing,because entrepreneurshipis a tough road. it is not a piece of cake, it's very often describedas a roller coaster where one week you'reon an emotional high and the next week the entireworld's all falling apart, and that repeats over and over for the first couple of yearsowning your own business.
so that passion and that drive is what gets you throughthose low points. - all three of theseover-50 business owners have combined the key elements that senior entrepreneursneed to succeed. they built a businesson their experience, they've made a business plan and they have apassion for their work. many people dream ofbeing their own boss,
but what is it reallylike when you're over 50? - absolutelywonderful. it's like, i know what i want to do, i really don't have toreport to anyone but myself. my partner and i workvery well together. and i'm helping my employeesand i'm helping myself. - there's no comparisonwith what i did before and what i do now. even though i could work80 hours a week now,
it's what i want to do andwhat i'm passionate about. - 62 years old and look, i just signed a five yearcontract for a new facility. am i nuts? - if you're thinkingabout starting a business, here are a few questionsto ask yourself. in your experience, which of your previous jobsmade you happiest and why? what one thing do you do better
than most peoplein your profession? and what personality traits have helped yousucceed in your career? take a look at your skills. what are yourprofessional skills? what non-professionalskills do you have? and what are you good at? and lastly, whatare your passions. what activities doyou enjoy the most?
what activity would you tryif you knew you couldn't fail? and what do you enjoyteaching others? - there's this concept ofhead plus heart equals hustle. there's an organizationcalled echoing green that proposes this as the key to happiness,professional happiness. and that's taking theassets and knowledge you have in your head, evaluating what's in your heart,
what you're passionate about, what interests you and all that, and when those overlap, that's where you shouldgo professionally. it's no different for a startup. - my thing is i have fundoing what i'm doing. if there's not funalong with working, i don't think you shouldgo into the business. - if you're readyto be your own boss,
you can find small businessstartup information on the website of the ussmall business administration, or at your localchamber of commerce. - becoming a senior entrepreneuror finding a second career isn't always easy,but sometimes, your hobby canbecome a business. that's exactly whathappened with murray hudson. what began as a childhoodfascination with maps has transformed him into oneof the premier collectors
and dealers of antique mapsand globes in the world. murray hudson is the map man. you can find halls,tennessee on the map, just south of dyersburg. it's a small town ofabout 2500 people. but that man, walking down thesidewalk, is known worldwide. murray hudson is the mapman, and runs a storefront and two other buildings filledwith antique maps and globes. his fascination with maps began
when he was fouror five years old. - i always lovedthe idea of travel. and finding outthings about something other than the littleplace where i was. and my father had beenin england and germany and so on during thewar, and so his stories, i really connected with them. when i was growing upand we were traveling, i always kept the highway maps.
i was the person supposedlydirecting where we were going, but it was usuallypretty simple. - so you could travelvicariously throughall these maps? - yes, definitely. - murray has done a lotof traveling in his life, and he's had a lot of careers. he was a collegeprofessor in alabama, spent a year studyingat oxford in england. he's been astockbroker in arizona,
started amanufacturing business, before returning totennessee to become a farmer. all the while, hewas collecting maps with no intention of turninghis hobby into a business. then, one day, he checked on the market value ofa rare map of texas. - i got a catalogfrom someone in texas and the texas maphad increased like maybe 50 timeswhat i'd paid for.
i said this sure beatsthe stock market. - that realizationupped the value of his rare maps and globes, led murray to let hissons take over the farm while he opened hisshop in downtown halls. today his inventoryspans three buildings, with nearly 20,000maps, 7,000 books, mostly atlases, andover 750 globes. - i think as far aswhat we have online,
i don't know of anybodywho has more than anyone. - murray has built aninternational business from tiny halls, tennesseethrough his personal connection with collectors worldwideand the worldwide web. the internet has turnedmurray's business into a global empire. - a huge portion of it, i get orders fromdealers in new zealand. library of congress is oneof my biggest customers.
- like any collector,murray has a few favorites. - one of the first maps thati bought was a little map of, and i have it framedat home, of ireland. what i noticed, i liketo look at the maps and i love place names, and up in the northernpart of ireland there was what looked like acave in a mountain. it was called purgatorio. i said oh so that'swhere the troubles are.
one of my favorite, andone of the best looking, and the biggest mapthat i currently have. this is during therevolutionary war, it's 1777, it isthe french version, and because the french werefighting off the irish side, of a british war map. but that was the treatymap and that was bought. and behind you over there,has california and island. before we dammed upthe colorado river,
it had massivefloods every season and if you came upthe sea of cortez and you saw what was really,the colorado river overflowing, that's just acontinuation of it. i have an old map behind youover here as a proposed state of shoshone, instead of idaho. same map has corona for colorado and it is a major production. that was actually suggestednames for the state.
there was a stateof lincoln proposed i think for north dakota. this pair of globesare from 1776. i think i have aglobe older than that, but the older onessell pretty rarely and this is the onlymatched pair of globes that are dated that i haveever, and stands, card stands. i have the firststate map of tennessee and it was tennesseegovernment the year before
and they erased government and that large spacethey put state. so it looks a littlebit out of proportion in the title but it'sa very handsome map and it's done by daniel smith. and i did a talk earlier thisyear at the state library about the borders of tennesseeand how they came to be, where they are andthey're not really exactly where they're supposed to be.
i think it's 18miles too far north from the tennessee river and that was becauseof compass variation caused by the factthat there was an awful lot of iron orenear the surface. they mined iron ore. - in case you're wonderingabout the dollar value of murray's collectibles , here's a first edition of the
first atlas printed in america. in 1795 it had a saleprice of five dollars or about 100 dollarsin today's money. but if you'd like tobuy this rare copy, murray will sell it toyou for 37,500 dollars. if your budget is a tad lower, there are plenty ofmaps, globes and books in stock at much morereasonable prices. but murray doesn't collectjust for the money.
as with any true collector, it's all aboutthe next big find. - the find, thehunt is still there. i like to travel and ilike to seek out things and it doesn't always endup being anything great but just doing itis worth the effort. - before we left murray's shop, i had to ask him if hehad any treasure maps. apparently a lot of peopleask him that question
and he has pirate's response. - now look, if i were you,and you had a treasure map, and somebody wanted to buy it, would you not have made a copy and as soon as youhanded it to him, go out and run abackhoe, beat them to it? the map is a treasure. - each year, there arenearly a quarter of a million new cases of breastcancer diagnosed.
in fact, it's the secondmost common cancer in women. but in recent years,controversy has surrounded the frequency andeffectiveness of mammograms. if breast cancer isidentified early, the five year survivalrate is nearly 90 percent. even so, it'sestimated that in 2016, over 40,000 women willdie of this disease. let's get some facts aboutbreast cancer and you. what is breast cancer?
- so breast canceris a malignancy. to make that more simple, normal breast cancercells who are no longer under the control of the body. so they grow uncontrollably. - how common is it? - it is the mostcommon cancer in women and one of the most commoncancers in the united states. about 250,000 new diagnosesof breast cancer every year.
- what are the risk factors? - we know of some risk factors. one, alcohol,depends on how much. the studies tend toshow that greater than two drinks per night. smoking is a risk factor. the level of estrogen exposure. so for example, a womanwho's never been pregnant, folks who take estrogenreplacement therapy.
those who are on believe ornot, hormonal contraceptives. those appear to bea risk factor also. - is age a factor? - age does play a role. because cancer really isa disease of the elderly. the average breast cancerpatient is about 60. - what are thesigns and symptoms? - if you feel that anythingis different in your breast, than you're accustomed to,
you should bring that to the attention of a physician. nipple discharge that's bloodyfor example, is a concern. changes to the skins, redness, or the skin appears more thick, you have masses under yourarm that wasn't there before, those are sort of signs that you need to bring those tothe attention of a physician. you should do yourregular screeningmammograms for example,
and those can pick up earlysigns of breast cancer that we can act upon. remember, breast canceris highly curable cancer. but it's curable whenwe detect it early. - how often shouldwomen get mammograms? - the recent united statespreventative taskforce, and i think the americancancer association, just made recommendations aboutwhen you should get tested. essentially between 50 and70 i think, for every year.
every other yearbetween 40 and 50. otherwise it's a decisionwith your physician and based on your risks. - what treatment is available? - in general, there arethree options for therapy. one for the estrogenpositive, is a pill. for her2 positive breastcancer, that is a protein that allows the cell to growrapidly and again to control, we do have a blocker.
and then chemotherapy.chemotherapy sometimes combined with the other twothat i mentioned, or chemotherapy byitself, especially in a triple negativebreast cancer patient. every breast cancerpatient that's curable should have surgery. and surgery should involve[unintelligible] the breast and sampling lymphnodes under the arm. and radiation occursin most patients.
but radiation is anotheroption for therapy and it would depend onyour surgical approach and extent of the disease. - what does the future hold? - the future is brightwith breast cancer, where one of thedisease types that has made the mostadvances in research. and i'm very optimistic that we will improve upon everyyear, every five years.
the way i treat breast cancer may be very differentfive years from now, the way that we do it now. - for more informationabout breast cancer, go to the website on theamerican cancer society. - want more informationabout life after fifty? go online to watch more showsand find more resources. and send us yourfeedback and story ideas to best times at wkno dot org.
that's all for thisedition of the best times, please join us next weekfor more stories about life after fifty. until then, i'm cris hardaway, thanks for watching, good night. the plough foundation, strivingto do the greatest good additional funding is providedby the members of wkno. thank you.
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