My journey into entrepreneurship began when I was in my thirties. To individuals in their 50-s and 60s, you might think that there is not a lot of risk associated with starting a business in your thirties, yet my choice came with its own set of obstacles.
When I made the decision to take the leap of faith in my abilities, I might have been in my early thirties, yet I was beginning my journey in a foreign country which meant navigating the Hong Kong system of becoming a business owner. In addition, I needed to find a way to obtain an employment pass without having a corporate sponsor.
Despite what I knew I was up against, I went for it.
What I want you to know is that starting a brand-new business while in your 50s, 60’s or even 70’s can be a scary and exciting at the same time.
Yet, I believe that once you make the decision and create a game plan, you can strategically take that leap of faith. Are you ready to take a leap of faith in yourself and your abilities?
That’s what I want to help you with.
If you’re thinking about starting a business, my mission is to give you just a few things to think about when it comes to 50-60 Something Entrepreneurship.
Give Entrepreneurship some SERIOUS thought
I don’t mean to come across as a pessimist. I’m not. I guess you could say I’m a realist in the fact that you and I can see that the world is changing daily, and the global corporate world is in constant flux. As Boomers we grew up thinking that we would have the same job security and employment longevity with the same company as our father’s did. Today layoffs are becoming a regular occurrence across multiple industries in every country.
It’s because of this contact change and lack of job security that I believe people should dedicate some serious thought and time into setting up some type of part-time business in addition to having a full-time job. Perhaps its something that you could expand later down the road. At the very least you would have another passive income.
Start with the pain or problem in the market place, not with the product
Far too many people approach becoming a business owner in the wrong way. They start with their widget idea and then try to sell it to the market place. Therein lies the first problem. After spending time, money and effort into creating something, you might find that this is no market for your widget, product or service. Without a need, a pain or problem there is no market.
When thinking about entrepreneurship, you need to understand that the roles of the business is to solve a problem or pain and provide a solution for another person or organization.
Look around you. What’s happening around you that people are wishing there was a solution?
Start small and start now
You may already have a business idea in mind that you’ve been percolating in your mind for a while now and that’s great. Keep that going, and at the same time I want you to look into a business that you can do right now. Yes, there are things that you can do right now to start earning passive income which don’t involve any financial investment, but a small investment in your time.
In my book The 50-60 Something Start-up Entrepreneur, I have a section on different business models. One such model I talk about is how to set yourself up as an affiliate marketer. In this instance, you promote other people’s products and earn a commission doing so. Some digital programs offer high commissions or a revenue split of up to 50% or even a 75% commission depending on the product being sold.
You can jump over to Amazon to grab your ebook or print copy ( http://amzn.to/2sZ9QtK ) to learn how to quickly set this up and be in business within hours.
Affiliate marketing is just one such way you can set up a small side business. It’s quick and easy and allows you to get started right away.
Isn’t it time you took a leap of faith in yourself? Ready, set, jump!