Talking with the other members of our community, I am amazed by how many good ideas people have for businesses. Even more surprising is how few of these ideas ever become reality.
It’s not that older adults are lacking energy or drive.
Let’s start with some good news. If you have taken the time to identify your strengths and brainstorm business ideas, you’re already ahead of 90% of people who dream about starting a business. While others fantasize about financial security, you have taken action. By now, you should have a rough idea of the kinds of business opportunities that you are interested in. Now it’s time to refine your ideas so that they can form the basis of your profitable business.
In a previous article, I discussed how I came to start Eternal Collection, my costume jewellery company, based in the U.K. Looking back, it is amazing how the evolution of Eternal Collection was influenced by – and influenced – almost every aspect of my life. It has been an amazing journey!
Every year, thousands of people take that first brave step and set up their own business. These people are from all walks of life. Contrary to popular stereotypes, many first-time entrepreneurs are in their 50s and 60s.
It’s always heartening to hear stories of entrepreneurs starting from scratch and doing well. Though anyone who runs their own business will understand how much effort it takes to get a new venture off the ground. I hope that my own entrepreneurial story will encourage the other women in the Sixty and Me community to follow their passions.
In previous articles, I covered how to improve your crafting skills and how to decide which items to produce. If you have already followed this advice, you should already be well on your way to building a successful business. Now, I would like to take a look at another critical step in the process – deciding how and where to sell your handmade items online.
In a previous article, I discussed how to improve your craft skills so that you can get ready to sell your handmade items online. But, once you feel like you have reached a certain level of proficiency, the question still remains – what should you produce?
If you think about the word “entrepreneur,” what image springs to mind? Maybe you thought of the actor who played Marc Zuckerberg in the film, “The Social Network”. Or, perhaps you imagined Bill Gates, Steve Jobs or another young technology genius, who started a technology empire from his or her basement. You probably didn’t think of a retired 57-year old tax consultant from St. Louis. If so, your instinct was way off.
A lot of women in their 60s would love to make a little extra money on the side, preferably doing something they love. Unfortunately jobs for seniors are hard to come by these days.
Besides, after decades trying to climb the corporate ladder, many of us are reluctant to start something too serious. At the same time, we would like to earn some “fun money” for travel, gifts and little luxuries. The question is – where should we start?
As we approach retirement, it’s natural to think about how we are going to support ourselves in the decades ahead. Starting a business is an option, but, most of us don’t know where to start. In addition, we are constantly exposed to images of 20-something entrepreneurs succeeding. If the media is to be believed, older entrepreneurs don’t stand a chance. Or do they?
When I asked the 44,000 members of the Sixty and Me community what was preventing them from starting a business, by far the most common response was “I don’t have a business idea.” As I mentioned in part 1 of this series, the first step to take when starting a business is to examine your own strengths. But, what next?