Everyone knows that most businesses will not hire someone who is nearing or who has reached retirement age. For those who want to keep working even after they have retired, it can be frustrating knowing that your options are limited.
If you don’t want to work a job that you will hate, you should be aware that there are a variety of new ways to work at home.
Here’s how you can start your small business today.
Know Your Options
The conventional workforce may be out of reach, but by starting your small business you don’t need to worry about your age holding you back.
The rise of the Internet and remote working has completely changed the playing field. Think about the skills you have and how that can translate into business ideas.
Some of the options available to you include:
These are only a fraction of the small business options on the table. Spend some time thinking about your options and consider whether they’re viable.
How Much Money Do You Need to Start Your Small Business?
If you’re retiring but don’t want to quit working, you’re probably wondering how much money you’ll need to invest in your venture.
The truth is that most jobs for the retired can be started for less than a hundred dollars. It doesn’t make sense to incorporate your new venture until you start earning a decent income. All you need is a small budget to establish your presence online.
And free professional websites can be made in hours through platforms like WordPress, which drives more than half of all websites on the web.
Establish Your Web Presence
Everyone needs a little piece of web real estate to tell people they exist. As already mentioned, opt for a WordPress website. With free templates and the ease of being able to drag-and-drop features onto pages, you don’t need a professional web designer to do this.
You should also consider making your business more professional by getting a virtual online address. It also has the benefit of protecting your privacy because you don’t need to put your home address on anything.
These addresses can be purchased for only a few dollars.
Invest in the Technology You Need to Run an Efficient Business
The retired are often accused of not knowing enough about new technology to succeed in the modern business world. This couldn’t be further from the truth.
Invest in technology like Skype. Enhance your business communication efforts, even if you intend on your small business remaining a one-man show.
Be Prepared to Wait
Understand that the world of online business is competitive. Don’t anticipate on matching your previous salary overnight. It’s necessary to start at the bottom again.
You need to build up your name as an authority figure in your industry. This will take months to manage, so don’t be afraid to offer discounts on your work in the beginning to do this.
When Should I Incorporate My Business?
Some people do it to make their business look more professional in the beginning, but if you’re a freelancer this isn't necessary.
However, sooner or later you will need to become an established company for tax purposes. Talk to an accountant and business lawyer to establish when you should start the procedure, and hire a professional to help you.
The answer to this question is always going to depend on a variety of factors, including where your business is and the state you live in.
We recommend not immediately incorporating until you have established the framework of your business. It can be expensive to incorporate and it’s an expense you don’t need in the very beginning.
Last Word – How Can I Start My Online Business?
It’s a fact that the retired are at a disadvantage when it comes to conventional employment. However, running a small business online levels the playing field.
You have a lifetime of experience behind you and now you have the tools to start your small business. Now there’s no reason why you can’t utilize your skills to build a business for yourself.
What sort of small business do you want to start?
Are you a retiree looking to earn a little extra cash to help you afford a big purchase or simply to get you through day-to-day life? When you retire, it can be difficult to know what to do with your free time, and while there are a number of things that you can do at home, quite often finding a hobby that requires you to get out and about can cost money. While payday loans online are available for those who are in some sort of employment or receiving benefits depending on the lender, for retirees, finding a little bit of extra cash can be slightly more difficult. Here, we’re taking a look at some of the best ways for you to earn a little extra money on the side of your pension.
This is a great option for retirees who are bored of staying in their own house and want to spend some time abroad. While you may not have enough funds to purchase your own holiday home, you could turn to international housesitting, where you can find yourself in some of the world’s most exotic locations, looking after the house and sometimes even pets. There are a number of housesitting websites across the internet and you may find yourself living on a secluded beach on the other side of the world, or in the heart of bustling Singapore situated in a luxury condo. The best part? You may find that the house owners will offer you some form of wage for doing the housesitting, although others are only willing to pay for your travel to get there. Either way, who doesn’t love a free holiday and the opportunity to earn a little extra cash?
Join The Microbusiness Movement
Etsy is a prime example of websites leading the way when it comes to microbusinesses and if you’re good at crafts, knitting or sewing, you may find that you are able to create your very own microbusiness too. There’s a lot of room to really branch out with your creativity and as a retiree, you’ll have plenty of time to master your craft before producing items that you are happy to sell to others.
Make Your Home A Bed & Breakfast
If you’re a people-person and you have a largeish home in a great location, then you may want to consider making your home a bed & breakfast. The start up costs are relatively modest, unless you really need to revamp your home in order to accommodate guests, and this can also be a good cash generator too. However, you will need to have a lot of patience in order to deal with the strangers who come in and out of your home constantly. You may not always have the kindest or tidiest of guests, so you will need to ensure that your temper doesn’t flare or you could find the repeat business factor of a B&B start to dwindle.
There are a great number of options that you can consider when it comes to making money in your retirement. Whether you opt for a little part time job such as tutoring or start your own business whether that’s a B&B or a microbusiness selling your very own handiwork, earning a little extra on the side has never been easier.