Believe it or not: entrepreneurship in retirement
is not a seven-headed bug. In fact, in terms of the workforce, exercising any
profession at this stage of life is not big news. According to a survey carried
out by (Defense Advanced Research Projects Agency), 44% of retired women work
outside the home and 51.6% of men.
In fact, these numbers show that, even with
retirement, many still want to remain active. This desire can have different
reasons: some prefer to continue, as they still feel that they have a lot to
contribute to their profession. Others have the desire to have their own
company to increase income.
For those who intend to start a business from
scratch, there are some fundamental precautions to be successful in this
endeavor. Here, we're going to talk about what you need to know and how to get
started. Check out!
There are some fundamental precautions for those
who are starting to undertake. Whether you're an individual at the start of
your career, or a retiree, it's important to be aware of these steps. Let's
find out what they are!
Choose a
field of activity
Even if you already have knowledge because of your
old profession, it is possible that in this new stage of your professional life
you want to start in something totally new. In this sense, it is important to
do an initial research to choose what your field of activity will be.
To help you get an idea of what might be best for
you, we advise you to look at what you can do and what your skills or hobbies are.
It is possible to get great ideas with this initiative.
Create a
business plan
With a more defined idea of what your company
will be, now it's time to start planning. The business plan is nothing more
than all the main details about how your company should be. He will be the
guide to bring your project to reality, so it is a crucial phase and that must
be done with full attention on the part of the future entrepreneur.
Find out
what the costs will be
As you develop your business plan, you will need to
pay attention to costs. This is the time to research possible prices for
everything — for space, necessary equipment, for regularization, taxes, etc.
Put everything on paper to get an idea of how much you will need to invest.
Be very attentive to this moment of planning,
because common sense will be essential not to rush and end up investing
everything you have in a project that may not work out.
Study the
market
Now is the time to look outside: the search will be
more focused on the field of activity of your business. Try to see how
competitors behave, what the sales volume is like, the strategies used, etc. It
is interesting to be aware of these details to prepare more safely for what to
face in the market.
Find your
target audience
The research above will also help you get an idea
of the behavior of the other half of the market: customers. In fact, one of
the fundamental steps to start is thinking about marketing, and the target
audience is an essential part of that. So, this is the time to know who are the
people who consume your company's product or service: what are their pains?
What do they expect and what do they consume?
How to
succeed in entrepreneurship after retirement?
We know that it's not just creating a company and
everything will be solved. It will still be necessary to manage it and take
care of it so that the first years are as safe as possible. So, you need to take
some personal steps to achieve success. Let's find out what they are!
Use free
time to gain knowledge
In fact, when it comes to retirement, the elderly
have much more free time. It is not uncommon for these hours to be used for
rest. This is not wrong; however, these moments could be used to invest in
knowledge.
Even more for those who intend to be an
entrepreneur, it is a good opportunity to take courses in planning, marketing,
finance, or even read books on the subject. This is one of the best ways to
prepare to run your business responsibly.
Learn from
those who already have experience
Probably, with your years of work, you must have
made different contacts. This is a good time to strengthen those bonds and ask
them to help with their expertise.
After all, the more information from people who
have lived and know your company's field of activity, the better. Remember that
it is not always possible to find everything in books or other information
vehicles.
Manage your
routine correctly
Another important point will be in relation to your
daily activities. Now that you are an entrepreneur, it will be very important
to dedicate considerable time to your business.
It's a very different lifestyle than working for
someone else. It is you who will define your schedule and it is important to be
careful not to overextend, ending up overloaded, or not dedicating enough time.
Don't be
afraid to take a risk
Our last tip is related to the fact that, when you
retire, having already gone through different experiences, the person looks for
more tranquility. Often, she may even be interested in starting a business, but
she doesn't want to take any risks.
This is impossible, since just the idea of having
a company already means one. That's why it's important not to be afraid to take
risks: use your work experience, study the market and follow your plan to be
more secure.
Is it worth
retiring to start a business?
This is a question whose answer depends on your
goals. What we can say is that being a more experienced person can count a lot
when opening your business.
After all, you have already been through different
situations related to the job market and, depending on the chosen field, you
already know some scenarios that you may face. What is usually a difficulty is
the risks, however, as we said in the previous topic, investing in knowledge,
the process becomes easier.
We have talked so far about some of the main
measures to undertake when you are retired. However, we can't help but say that
a certain amount of capital will be needed to open your business. We at John
Labunski Dallas have some very interesting solutions, aimed exclusively
at retired entrepreneurs who want to start a business.
Did you like our text about undertaking in
retirement? Are you thinking about opening your business? So, contact us now
and discover our services!
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