Baby Boomers Are Asking, "Could I Start A Business? Where Do I Begin?"

If you’re a boomer who is near retirement age, you might be looking for ways to supplement your income. You may choose to retire from your job, but want to remain active and find ways to make money. You’re most likely tired of working for someone else, and want to be your own boss and work at something you really enjoy. Or you may believe you can never retire from your job.

Many boomers are considering starting an online business, but there are several critical questions you need to answer before you begin. What type of business are you best suited for? Will it bring you happiness and a sense of fulfillment? Do you have the time, energy and resources to embark on your new venture? It’s absolutely critical to your success that you have the answers to these questions before you begin.

This is why it’s not in your best interest to jump on the bandwagon of the latest “hot” idea on the market or take the suggestions of your well-meaning friends.

Most online business sources will begin by telling you to check through a long list of business ideas, or offer you the newest market idea. I can tell you from experience this is NOT where you want to begin! This will only lead to confusion, frustration and overwhelm.

To be successful in reaching your goals quickly and easily, you need to have practical, rational answers based on your individual needs, interests, experience and skills. Without these answers you will waste your money, time and energy using trial and error methods to find a business that’s the “right fit” for you. 

To make a good decision about choosing a business, you actually need twice as much information about yourself as you do about the market. I know this may sound surprising to you, but it’s true! By assessing your individual profile, you can clearly identify business options that are best suited to your personal strengths, which direct you toward a successful future in business. Knowing your strengths and your weaker areas will define the roles in your business that you will take on easily and those where you may need some support. The goal is to put yourself on your own personal path to success (not someone else’s), which will result in saving you time, energy and money.           

So before you pour over huge lists of options, or assume you know exactly what you want to do, spend some time developing your goals, priorities and criteria and don’t forget to consider your personal needs. Having a clear picture of these elements will go a very long way to establishing exactly what type of business best suits you, and will bring you happiness and great success.