The Entrepreneurial Journey

I founded MemoryBanc after working for more than 20 years in small, growing entrepreneurial firms. I considered myself an entrepreneur because I was adept at helping small businesses define their market and grow.  I loved working in small companies where your job lines were blurry and you had to be a jack-of-all-trades.

When my parent’s health was failing and I needed to step in to help, my full-time corporate job required that I be an effective leader and demanded long hours, and I desired to be a good wife and mom; I became overwhelmed by life. I was no longer satisfied and set out to redefine how I was prioritizing family, job, health and my faith.

In caring for my parents, I stumbled onto an unmet market need and started to work on the business plan. It felt onerous. I was using a life coach at the time to help me and she asked me to define “Entrepreneur.” While the dictionary says it’s “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk” what I needed to learn was that I needed to believe 110% in the business idea and should only pursue it if not doing so would cause me greater distress.

I was scared. I was leaving a great job with good benefits and pay and leaping into an unpaid job with incredible risk and that required at least a $60,000 investment to get started.

I realized that I was passionate about the business I was building when I started to see how what I had been through was already helping others.  I saved the money to launch the business and jumped. I’m lucky to have a supportive spouse and the ability to put the money back into MemoryBanc to continue to see it grow.

In 2015, our goal is to make a difference in the lives of a quarter of a million people. That’s right, we want to educate and share our free tools with 250,000 individuals to encourage them to organize the information that surrounds their lives.  Being an entrepreneur is the unquenchable desire to build the business and the ability to be ready to make all the decisions, make mistakes, and dust yourself off and use what you’ve learned to build a stronger, better organization.

I will share more on this topic at the Prince William Chamber of Commerce Women’s Leadership Conference on Thursday, February 12, 11:00 a.m.  I hope to meet you there.

What is an Entrepreneur?

Kay spent 20+years helping small companies grow and considered herself entrepreneurial. When it came time to launch, grow, and run her own business, things felt very different. In this session, you will learn:

  • What it really means to be an entrepreneur
  • How listening and mindfulness matter
  • What it takes to make it happen

The documents you need when a crisis strikes

I was the adult child named on the Durable Power of Attorney (DPOA) that needed to step in and use it. It was VERY difficult to use in several cases. For a more detailed look at my history, you can visit the blog I’ve been writing for three years on caring for two parents. One way to ensure that the individual you have named with this power can help you is to create a roadmap of the documents, accounts, and assets they may need to manage until you are back on your feet, or inevitably, to settle your estate.

My parents did everything that was recommended by their estate lawyer, financial planner and life insurance provider. However, they prepared most of the information to be delivered to me after they were gone. When they were too ill to manage on their own, I needed to know about their medical history, banking accounts, online services, household warranties … the list was daunting.

If you are named, or have named someone as your DPOA in your estate planning, you should sit down with them to review the location of important documents and instructions. After 40, nearly half of all American’s are expected to have a disability event lasting 90 days. It doesn’t need to be gloomy–as I reported on how I  shared my plans with the individual who I would expect to help me as well as with my children who are only 12 and 17 years old.

3DcoverFor an easy to use workbook that will guide you through the collection of your documents, accounts, and assets so that you can easily find the information when it’s needed, or could share it in a crisis, you can order MemoryBanc: Your Workbook for Organizing Life from any of these popular retailers at a pre-release discount today.

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Life Preparedness 101

mbicons1.jpgWe all know that we should plan for future life-changing events, but it’s one of the first things we put on the back burner. We have a million excuses, and have learned that procrastination does not work, but there are some things we just never make time to complete.

When it comes to organizing your personal information, doing it later is often too late. The statistics are alarming—some 43 percent of all people age 40 now will have a long-term disability event prior to reaching age 65. And seven out of ten people who turn 65 today will need some type of long-term care services and support lasting three or more years. Could a loved one act as your medical advocate and provide your medical history or list of medications if you were unable to? Could someone else access your bill-paying account to cover basic expenses while you recovered?

Having a system that documents your passcodes, inventories your assets and provides a health biography will not only provide you with quick access to information when you need it, but also can provide a roadmap to the individual that would step in and help you—even if only temporarily—should you need it.

In 70 percent of all households, Consumer Reports found that both spouses were unaware of the major details about family finances and where to find account information. If your partner was suddenly incapacitated, would you be able to step in and manage what your partner was doing? And if you live on your own, it’s doubtful that friends or family would know the details of your life and your wishes if they wanted to help you.

For all these reasons, documenting your life details and putting them in a format that makes it easier for you to retrieve and that someone else can access is important. It matters the most to those people around you whom you love and would be negatively impacted by your failure to simply document basic details.

Click here for a checklist of all of the important documents and details you should have organized.