Small Business School
Reinvent yourself and your town.
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Main Street Reborn
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Overview Transcript Case Study Video
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Richard and Joe dreamed then built.
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Key Ideas of this episode
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1. Reinvent Yourself
2. Learn Bank Speak
3. Do It Differently
4. Hire Experience
5. Create Value For Others
6. Develop Multiple
Revenue Streams
7. Be Patient
8. Grab Attention
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Great Barrington, Massachusetts: We go into the downtown of this village, just on the fringe of the pulse of Tanglewood Music Festival, the summer home of the Boston Symphony. This is the arts colony of the Berkshires. Not too long ago it was a neglected old mill town. Today, it is a picture postcard -- the town is in a renaissance sparked in part by two men who thought they were going to retire.

Richard Stanley and Joe Wasserman are heroes because they jumped in to solve a problem. They didn't say, "Why doesn't somebody do something." They became the somebody and they caught the imagination of the town.

This episode of the show opens with Hattie's comments: "Richard Stanley and Joe Wasserman tried to quit."

Richard / Joe

They came separately to Great Barrington to relax, retire and perhaps fiddle around with real estate and whatever caught their fancy. They met each other while attending a town meeting; and as entrepreneurs will do, they talked about their dreams for improving Great Barrington's historic business district.

Now you see what became of their first meeting.

Comments long-time resident and businessman (and their insurance advisor), Marty Salvatore, "Richard and Joe have regenerated interest in the older buildings -- places in town that were being let go or run down. They created the momentum and now there is a lot of real activity .... if we lost the core area of town, if that died, the rest of the town would have died too. I think Richard and Joe are just great."

The Lightbulb. Retire? Why? Is there something wrong with work? Most entrepreneurs we meet love to work and rarely think about retirement. They're having too much fun being creative. But beyond the issues around living a vibrant life, we believe it is not good for the country for our most experienced thinkers to leave the workforce just when we need them the most. There has to be a better way to balance the need for more time with grandchildren and the desire to contribute to the health of our communities and culture.

COMMENTS OR QUESTIONS.Small Business School We invite your comments and questions.

  • Print version: For indepth study around your own boardroom, print out the transcript and each point of the study guide.
  • FIRST PRINCIPLES: Starting a business is the road to economic independence for most of us average people. Read a little more to see why incorporating a business keeps the passion of the American revolution alive!
  • CASES BY BUSINESS TYPE. Click on the heading to find all the business types and then click on your type of business to check out those case studies.
  • LOOK AT STEP 1: INITIAL IDEA. Small Business SchoolDeciding on a business path should be easy. Take a look at the first chapter of Hattie's book, Beating the Odds. You'll get some help to answer the question, ."What is your personal magic?" It is singularly the most important question you can answer -- at least a dozen times in a dozen different ways -- during your lifetime.
  • SUPPORT PUBLIC TELEVISION:
    Become a member of your local station. If you are already, great. If not and your business is doing well, consider joining the Producers' Club ($1000). Too much? Get a twenty employees, customers and/or suppliers to join en masse with you at $50 per person. Just get on the inside of your local station and learn how to become a producer.
  • JOIN, JOIN, JOIN: Your professional associations in your industry are your key to continuing education, market research, collaborations, strategic partnerships, capital and so much more ... often you'll find that you enjoy like-minded people and many will become friends for life.


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