Ideas for Starting a New Business in Retirement

paidtoblog By paidtoblog, 20th Aug 2013 | Follow this author | RSS Feed | Short URL http://nut.bz/38e64dpu/
Posted in Wikinut>Jobs>Retirement

Thinking of starting a business in retirement? find out some easy ways to come up with ideas for retirement income online. Learn how to leverage your past work experience to create new opportunities as a business owner. Becoming an entrepreneur in your golden years is the best decision you can make.

How to brainstorm ideas for your new business adventure

Many of us will come to a point in our career when it is time to leave our jobs for new pastures. This could be voluntary or it could be to downsizing. No matter how you end up becoming separated from your last employer, retirement is not always an easy transition. After spending 30 to 40 years at one company you have become emotionally invested to the point that it may be hard seeing yourself doing anything else.

As a retiree you have options, now you can control your own destiny by looking deep inside for the inspiration to be great at something you have always wanted to try. I would suggest you get out a piece of paper and write down all your dreams and goals. It is okay if they seem outlandish no one is going to be reviewing it.

Actually the bigger you can dream the better. Have you always wanted to open up your own flower shop? what about becoming a travel guide expert in your area? People still need products and services. Your past experience can be the brain-child of a new way of doing things.

Remember the market in any industry is not saturated, if anything it is void of business owners who have imagination. Yes the kind we all once had as children, it is that great imagination that is missing in business today. Now that you have entered into a new phase in your life, as a retiree you can reignite that idealism that you once had when you were first graduating college and entering the workforce. This time you can do it as a start-up business.

Leveraging your past work experience to create new entrepreneurial opportunities.

On that same piece of paper next to your dreams, write down your experience. What have you been doing on your last job? make a list of all the things you liked about your job, yes it is easy to be critical and find fault with past employers but what did you actually like, what was the best part of your old job? Take that information and see how you can incorporate that into your new business on a bigger scale.

Here is a great example of how my neighbor who recently retired out of a corporate job decided to take her experience and turn it into residual income. She used to be the manager for a packaging and shipping company. One of the highlights of her career was when she got to see who used the service the most, noticing a growing number of home deliveries, she decided that this was an area that she could specialize in.

So taking this idea and making it bigger she was able to focus on the home delivery service for parents who provide homeschooling to their children. Many of them were receiving packages and shipments of supplies to their home. By catering to this small but growing customer base she could get her new business in profit very quickly.

The key is to utilize your past history in the field you worked in before and see if you could fill a need that is not being met by the big companies. By you being a small entrepreneur you can offer a lower price for your products and services. Operating online will also save you on overhead costs.

These are just a few ways you can take your retirement income to a new level. Although your career has just ended, your startup business is just beginning. Make the most of it and become the great leader I know you are capable of being, especially if you let your dreams live and grow to great heights.

Image credit: Pixabay

Tags

Entrepreneur, New Business, Retirement, Retirement Income, Starting A Business

Meet the author

author avatar paidtoblog
Hello My Name is Sunshine and I am a blogger. I have spent the last 5 years writing online from home. My experience is probably typical of most people who have things they want to share with the world

Share this page

moderator Steve Kinsman moderated this page.
If you have any complaints about this content, please let us know

Comments

Add a comment
Username
Can't login?
Password