Posts Tagged ‘Business Ideas’
Entrepreneurialism as a Retirement Lifestyle
Photo by freeparking
In this post found in Open Forum, Anita Campbell , Editor and Founder of Small Business Trends, LLC, cites statistic showing that older Americans, ages 55 to 64, are far more likely to be or become entrepreneurs than the young. In fact, according to Bureau of Labor Statistics data,
“The incorporated self-employment rate is four times higher among those aged 65 to 69 than among those aged 25 to 34—and a whopping 25 times higher than among those aged 20 to 24.”
Campbell posits a couple of reason for this:
- Older people have more skills and confidence
- Older people are free to pursue their dreams of entrepreneurship
- Older people are unemployed and unable to find traditional jobs
I would propose another possibility.
Older People Want to Work
In general, older people are not anything like the widely held stereotype o f a slow moving, creaky and cranky old Grandpa. Better health habits and better health care (new hips, new hearts, and new knees) have created a generation of healthy, active retirees who want to work – on their own terms.
If You Didn’t Work, What Would You Do?
This is America; everyone works here: the rich work, mothers of young children work, the disabled work, even Tim Ferris, who claims not to, still works – a lot – he just calls it something else.
For at least some of today’s graying population, unremitting leisure holds little appeal. They believe it is better to have some work, some purpose and meaning to their days. And so, wisely, they start a business to pursue their interests, skills and talents, to share their expertise, to supplement their income and to give back to the community in an exchange of value.
Is it Wise? It Depends
Is it wise, Campbell asks, to use retirement funds to go into business? The answer of course is, it depends. A careful consideration of an individual’s current reality and resources and personal goals can guide early startup decisions to a course that fits the means.
Starting a business does not have to risk money that should not be risked. When I started my coaching business I could see it would require up front investments in training, website development, licenses, networking luncheons. So, seeing entrepreneurialism as a lifestyle as much as a job, I took the time to first establish Presto Espresso Gourmet Coffee Service a small vending machine route. My high end, fully automatic espresso machines now generate passive cash flow. It’ is not a lot but it is enough to fund the startup costs for my true love, Working Miracles, my small business coaching practice.
I’d love to hear from anyone who is planning or is currently pursuing entrepreneurialism as a retirement lifestyle. What is your experience? Was it wise?
3 Ways to Make Money While Testing Your Business Startup Idea
“Ready, Fire, Aim” is often championed as the technique of successful entrepreneurs. It is also a technique employed by the leaders of the many businesses that fail each year. Market testing may be time consuming but you can gain valuable information about your market, your product’s value and your own readiness to lead your business to profitability when you take the time to test your business idea.
Here are three ways you can test your market and make money while you do it,
When you think you have a good idea, try testing the market by submitting articles to one or all of these sites. Seek to maximize your exposure and collect data. Particularly data on who is reading your submissions, questions they are asking, any comments they share on-line and how your competition is responding.
Write About Your Industry
You can establish yourself as the go-to expert or create product demand by writing and publishing articles about your industry. Here are two sites that publish articles and pay the authors for their work. The third offers expert advice.
AC’s platform enables anyone to participate in the new content economy by publishing content on any topic, in any format (text, video, audio and images), and connects that content to consumers, partners and advertisers. Using key words associated to your small business idea (try Yahoo’s Buzz) you can publish and test the market simultaneously.
The benefits are multiple. Not only will you be gathering data about your market but you will get paid. Associated Content offers upfront payments ranging from $2 to $15 for certain types of content. In addition the content you publish can earn you money via performance payments, which currently pays a baseline rate of $1.50 for every one thousand page views it receives.
This site publishes web content from freelance writers. Once you’ve developed a portfolio, you can submit it to this site and, if accepted, begin receiving assignments based on key word research. You continue to grow your reputation expand your expertise and continue to gather market research all while getting paid. What’s not to love?
A great business opportunity but, a word of caution: make your move strategically. This site is seeking quality writing from experienced writers. All submissions are reviewed. There is a knack to writing SEO rich copy so take some time to learn the trade before offering your services to Demand Studio.
So you say you are not a writer? Then consider sharing your expertise at Liveperson.com an online destination where people from your niche market can seek out live experts in a broad range of categories- including yours. Topics addressed by various experts at Liveperson.com include, spirituality, business, professional counseling, computers, and personal development.
You are an expert at topics and issues important to your market niece? As such, you can register with Liveperson.com as an expert. When you do you, you will be listed according to your professional expertise and will be available for hire by any LivePerson.com client. You receive all the tools necessary to communicate with clients and colleagues. A quick survey revealed prices for expert advice ranging from $4.40 per minute for an expert in India tax law to $18.90 per minute for a psychic reader and healer.
In what other creative ways can a new business idea be tested? I am interested in your creative ideas. Let me know what you are thinking.