by Rahimah Sultan

 

 
 

So, your reaching retirement age or are already retired and thinking about starting a home business. There are several things you must consider before doing so, and you must set up a plan. Among the things to be considered are investment capital, spatial needs, and your health.

 

As an entrepreneur you’ll have total responsibility for your business. Running a home business can be a very satisfying endeavor. Many home business owners enjoy the flexibility, as well as the opportunity to grow their businesses as they see fit.

 

Here is some great general information on starting a home business that will succeed.

 

Read more on Starting a Home Business in Retirement here.
 
 

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by Rahimah Sultan

 

 

“So, you’ve decided you want to work for yourself when you reach age 65 or so. There are three key factors to consider before diving into entrepreneurship and starting a home business in retirement.”

 

Risk
“Be realistic about the time, energy, and cost of starting a new venture. The flexibility of freelancing or consulting from home would be a better option than setting up a labor-intensive physical company. Consider the investment…”

 

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by Rahimah Sultan

When I was nine years old my goal was to become a doctor. That meant graduating from high school and attending college. I had to formulate a plan that would enable me to achieve this.

In elementary school things were already decided for you as far as course selection. In junior high, now called middle school, you had a more flexible curriculum depending on the path you wanted to follow. It was then that the thought of becoming a doctor solidified for me, and I used counselors’ recommendations and my own research to determine the classes I needed and when to take them.

I hope the following three tips for business success are of use to you as an entrepreneur as you plan and pursue your vision.

1. Keep focused on the main goal

Have a clear vision of your main goal. Although you may veer off course from time to time, your big vision is always the focus. Sometimes challenges arise and plans must be changed. Remaining focused on your ultimate goal will enable you to make the needed changes to keep you moving forward.

2. Persevere

Sometimes you will face uneasiness and fear of the next steps to take. You will need perseverance to keep moving forward and to stay on track. While in school I faced a lot of major challenges and had to delay my college education. I held on to my vision and eventually circumstances were such that I could attend college. That was much later in my adult life and I focused on “plan B” and received my college degree. Although I did not become a doctor, I pursued something I was truly passionate about. You will also need passion to succeed.

3. Be flexible

You need to formulate a basic plan that allows for changes. Sometimes large changes to the plan will be necessary. You also need a marketing outline for promoting your business. Decide which avenues and platforms you will use and what your budget will look like.

These are Three Tips for Business Success to consider if you are an entrepreneur or plan to be one and have decided the path you want to follow.


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