Post by Christopher RichardsHow about some creative suggestions for new businesses for the over 50's.
Most American's are going to have to keep working.
Which businesses would not require the energy of a young person, might bring
in about $40K in today's dollars and can be sustainable. I am thinking home
based. There has to be good opportunities to serve the baby boom.
It seems brokering of some sort would work.
Here is my first suggestions, please add yours.
1. Apartment swap web service.
2. Freelance writer - specialty subjects such as senior issues.
What have you been doing for the last some-odd years for a profession? Is
there any thing in particular that you would really like to do? Experience
and interest in your business go a long way towards bringing you success.
In terms of "energy", I think there are two parts to that. First is physical
energy/strength/endurance. Something like a landscaping business where one
does the work themselves is probably out of the question. The second part of
that is enthusiasm and the fact that you'll have to work long hours for a
while, and you can't get away from that when you're starting a business.
To your list I'd add some kinds of consulting, although not technical
consulting because keeping up with all the new technologies is a real pain
in the neck (IMO). Also, sales. Sell a product on eBay, or sell somebody
else's product or service.
Its really important, I think, that you start a "business" rather than
become "self employed". The difference is that a business is like a machine
that makes money, and you spend your time working on the machine. When
you're "self employed", you are generally selling your skills or labor by
the hour, and that would get "old" real quick if you're running a business
as a senior.
My final thought is, that as a business, its important that you develop
systems that run, fuel and maintain the "machine" that you can turn over to
other people. There's going to come a point in time where you want or need
to bring in some help, and if you don't have these systems in place, you're
going to be in a world of hurt.
_Emyth Revisited_ is a good book re. building systems for the machine, you
should read it. Also, Paul and Sara Edwards have a slew of books (as I
remember) with titles such as _101 businesses you can start at home_, and
_Getting Business to Come to You_. Finally, and most importantly, is that
you have to market and sell whatever it is that your business sells. Check
out the books at gmarketing.com.
HTH,
Mike Turco
www.miketurco.com