Turning a favorite hobby into a business venture sounds like a good idea, right? After all, you have been involved in your hobby for several years. Everyone thinks your work is wonderful and would love to have one of your inspiring creations.
During my first year of self-employment I earned $13,000. I lived on ramen noodles and peanut butter and turned down social outings because I couldn’t afford a glass of wine. It was one of the best years of my life.
It’s become very common for the 60+ crowd to finally carve out the time to begin the home business they were afraid to try in their younger years or to monetize a hobby or passion. Very likely, they will be working from home, and as exciting as this is, there are a few things to be wary of.
Sometimes inspiration comes from unexpected places. One morning, I was working on this post, but the concepts weren’t gelling. Rounds of writing, editing, deleting and starting again from scratch ensued.
Are you naturally inquisitive? Do you love to learn? I certainly do. From my perspective, it makes life much more interesting. Health experts are currently telling us that learning something new every day, whatever our age, keeps us healthy.
Despite my long career in business, I suffered a major case of entrepreneurial amnesia. All the good advice I gave clients during my 35-year business career flew out the window when I started my own business.
The convention wisdom is that starting your own business as an older adult is next to impossible. If you ask the average person why it is hard to start a business after 50, they will give you a litany of reasons, most of which will be based on tired aging stereotypes. Here are a few examples:
Many people hope to own their own business, but very few do. In addition, women around the world are hesitant to become entrepreneurs because they feel they lack confidence and resources.