Saturday, January 10th, 2015

Starting A Home Business In Retirement

by Rahimah Sultan

photo from blog

 

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 capital you’ll need and formulate a plan.

 

Space

Will you be able to handle working in the same place you live? If so, then consider what you’ll need to make an area of your home a functional work space. If you have a spouse, discuss it and work out the details that could be tolerated by both.

 

Health

On a day-to-day basis, do you have the energy and the strength for starting a home business in retirement? If you’re not sure, consider finding ways to minimize the effort. Maybe a virtual assistant could help or a rescaling of objectives.

 

As an entrepreneur, you’re in the company of people who want to and are able to act upon controlling their own destiny. Eat well, get rest, and exercise. You’ll be a better businessperson for it, and it will help you enjoy the experience of entrepreneurship all the more.

 

When considering Starting A Home Business In Retirement, you must address these three major areas.

 

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