How Seniors Can Become Successful Entrepreneurs After Retirement

How Seniors Can Become Successful Entrepreneurs After Retirement

Entrepreneurs after retirement

Entrepreneurs after retirement

Do you see age as a number or as something else?

To reach or approach the age of retirement was earlier an important milestone in life. It was the moment when the work responsibility was handed over to a younger generation, and you should now start to enjoy life and do what couldn’t do during your active life in the labor market.

Serious corporations planned together with the employee how to switch smoothly from a productive person to an ex-employee no longer involved in the development of the company where they had been working their whole life. Theoretically, all seemed to be a nice plan where the corporation could replace the older and maybe obsolete employee with a younger and updated person eager to make a career.

The reality does not always coincide with the glamorous theoretical model. The reasons can be many but here are the most common:

  1. No retirement plan exists, and the magic age for retirement becomes more a nightmare than something looking forward to
  2. With the financial situation the world has faced the last decades, the funds for a decent retirement have deteriorated considerably and without personal savings, it is almost impossible to live a decent life as retired
  3. The human being is living longer than before and the group of people to reach the retirement age is bigger for every year. This calculation has not been considered when setting up the beautiful “theoretical model” for retirement.

From the perspective of the employee, we are a lot of people out there who don’t want to finish to be productive. We are a lot of people out there who don’t want to finish to be productive. The main labor assets a senior person can offer, are the following:

  1. An enormous working experience and particularly an extensive know-how and skill set in the profession executed during many years
  2. With all years of experience, a senior person normally has a personal network that can serve as a goldmine if used in the correct way
  3. A senior person has passed the age of small children and the time-consuming dedication to creating and foster a harmonious family, and can much easier focus on a particular working topic with power and engagement

Bringing these two worlds together, where corporations prefer to replace seniors by younger people, and at the same time, a growing group of dedicated seniors not willing to leave their professional life, the big and challenging question will be how to combine this huge contradictory.

Retired But Not Tired

The answer can be found in the word “self-employed,” meaning that you start some kind of own business. There are many people out there who have made their breakthrough as seniors. One of the most famous is Harlan Sanders, who started Kentucky Fried Chicken at the age of 65. On the Internet plenty of other successful senior entrepreneurs can be found to confirm that age isn’t a valid excuse for not trying the entrepreneurial side of your experience.

One hurdle that could stop a lot of people from trying a new business was the investment to do. It is understandable that you have to think through more than once if the saving capital you have gathered for a calm and relaxing retirement should be invested in a new adventure with maybe millions of dollars to be tied up.

This was a hurdle before the new digital era arrived and changed everything. Doing business on the Internet was earlier seen as something not very serious because we didn’t understand how it all worked. Today the online business is growing faster than ever, and then we not only talking about the big players like Google, Facebook, Skype, Uber, Amazon and many more. The number of small entrepreneurs starting their own online business is growing exponentially every day.

The bad thing about these businesses and where you have to watch out carefully, are all the false promises, the so-called Scams, promising you to be rich within a few weeks by working ten minutes per day. Always ask for real references when attracted by an online business offer. With the easy access to the Internet, do some research before signing up. It can save you money and a lot of headaches.

The good thing is that the start up cost is affordable for anybody. Instead of investing your life savings, we are talking about a couple of hundreds of dollar to get your own business up ad running.

But you don’t have a product to sell, and you don’t have a system to administrate the business, and you are a complete technophobe. Well, the list can be long with fears that bother you. The people to continue to worry about their concerns will most probably continue questioning the rest of their lives.

Instead, individuals who see the opportunity will be part of this digital online business wave that just has started to move, and that soon will be upgraded to a real “Tsunami.”

At the age of 62, I had the luck and the courage to dive into this new ocean of business opportunities. I brought up the same questions as mentioned earlier. I had no product to sell, no system and my computer skills were limited to what I would like to call average skills. I found a new word I never had heard about before:

Affiliate marketing

In a few words, it is an opportunity where you sell other companies’ products. Well, you don’t even have to sell but only bringing in customers and for every sale made you will earn a commission. They trained me from A to Z and for the tons of questions I had, there was always somebody who could help me out. My success or failure had absolutely no excuses but depended 100% on my willingness to let it happen.

At the age of 63 I said goodbye to the corporate world, after more than 35 years of service, and at the age of 64, I can now live the life I earlier thought only existed in my dreams.

You have to work hard, go through some frustrations and failures, but if you have the correct focus, the success is waiting for you on the other side of the tunnel.

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