Starting a Part-Time Business (by Rediscovering Old Favorites)

By on July 17, 2017
Starting a Part-Time Business (by Rediscovering Old Favorites)

Are you one of those types that loathe retirement? The one that after a while in full-on retirement you’re already itching to get a big project going. One that wants to explore business ideas now that money is there and time is plenty.

The thing that seems to be holding you back is the time invested, right?

The Problem with Business

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Starting a new, unexplored business takes years for it to establish. That may not be what you want this late in life. You want something that’s quick to market so you can jump in, have fun, and make a few bucks on the side.

My suggestion? Rediscover those old favorites.

Favorites as in a hobby you’ve always loved or an area of work you wish you could’ve done full-time. Now’s the time to explore those passion projects that were set by the wayside all these years.

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I’d say there are two parts to the right type of business idea considering you’re semi-retired… It should be:

·  Part-time or work from home

·  Something you know (intimately)

Let’s say in your previous life you had a career as a CNA or caregiver position. The tasks you did help the well-being of the individual which may have included physical therapy.

Nowadays you could use that knowledge of anatomy and start a part-time/home business as a massage therapist. You typically don’t need a four-year degree to get into massage therapy (the exact requirements vary by state) but expect between 300 and 1000 hours of training required for licensing. Apart from officializing knowledge of the techniques, all one needs to get started from home is massage therapy supplies and equipment and marketing materials to spread the word.

Take this example and apply it to your old favorites.

Other old favorites to business ideas include:

·  A career in accounting could turn into handling taxes at tax time

·  A hobby (let’s say woodworking) into boutique, commissioned furniture

·  A love for sports and activities that become coaching

·  A thirst for travel aimed toward offering travel tips & booking

·  A welcoming personality forms into a bed & breakfast

The point being: take a passion, find a market, and give it a try. Every idea is worth entertaining because there isn’t much to lose.

Getting It to Market

Starting a business nowadays is different than what you may remember.

It’s all about being online.

You’ve seen this as the industries have evolved. The fundamentals of advertising, marketing, and growing a business are essentially the same but with new platforms.

In fact, all those years doing your old job puts you in a perfect position with this new business plan – because you have:

1.  Experience (this builds trust)

2.  Connections (this builds leads)

3.  Resources (this builds stock)

It’s time to brush up on the new standard – I would recommend spending a week browsing and learning everything you can with the blog posts and courses on Shopify. This is a major platform for selling products and services. Their tutorials are top-notch and will bring you up-to-speed.

After that, it’s a matter of connecting with a developer and giving it a try. The barrier to entry is low and won’t cost a lot so feel free to experiment with ideas. Eventually, something will stick! From there it’s a matter of refining your craft, driving sales, and balancing work/life during this semi-retirement phase.

Onward to Business!

Isn’t it exciting knowing you’re able to finally explore those business ideas you’ve always wanted?

·  The money is right

·  The time is there

·  The idea is sound

You’re already settled in and comfortable. The safety net is in place. The fear of failure no longer holds you back – so why not come out of retirement, start a business, and make a few bucks? It sure beats twiddling your thumbs and going stir crazy!

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Starting a Part-Time Business (by Rediscovering Old Favorites)