Retirement is not the end but in many ways the very beginning. This can definitely be the case when it comes to entrepreneurship after retirement. Once you are retired you’ll have more time on your hands than ever before to tackle the things you’ve always wanted to but never had time to do so. This is where entrepreneurship after retirement comes in to play.
Entrepreneurship After Retirement
In order to start and be successful with entrepreneurship after retirement there’s a number of areas you need to address. Below we take a look at some of the most critical factors.
1 – Keep Moving
A successful entrepreneur never stops moving forward. Whether it’s self-education, keeping abreast of the latest tech trends, or pushing your business into high-gear, entrepreneurship is about motion.
Franklin D. Roosevelt once said, “there are many ways of moving forward, but only one way of standing still,” with that idea as our inspiration, this week we’re looking at ways to keep moving in the right direction.
2 – Stick To A Formula
It’s been said that “good entrepreneurs create, but great entrepreneurs copy!” In fact they probably do both. The point is, if you can see an idea has worked for another business or someone else, there’s no point in trying to reinvent it altogether. When it comes to starting on entrepreneurship after retirement there’s no reason why you can’t stick to a tried and trusted formula for business success that’s worked well for others already.
3 – Steal the Spotlight
Publicity is one of the most important keys to entrepreneurial success and this is no different with entrepreneurship after retirement. After all, what good is a great product or service if nobody knows about it?
Getting good publicity on the other hand can prove to be a challenge. The great thing about today is that there are plenty of ways to get yourself noticed online including social media and of course your own website.
4 – Keep Track of Finances
It may not be your favourite topic or area of expertise but accounting will be essential to the success of any venture you launch in retirement. Whilst it might not be fun for you, keeping track of your finances will mean you don’t end up with a shortfall in the business. On the flip side it also means you’ll be able to pinpoint where your most effective revenue generation acitivies lie.
Whichever way you look at it, keep track of finances is important regardless of when you start a business.
5 – Hit the Books
One thing that successful entrepreneurs have in common it’s that they are always developing themselves and broadening their knowledge and skills. Online classes are a great way for you to educate yourself, and by taking the classes that are most popular with business professionals you’re more likely to give yourself an edge in the competitive field of entrepreneurship.
Another great way to keep yourself educated and up to date with learning on your journey is through podcasts and audiobooks.
6 – Don’t Be Afraid To Try New Things
By the time you’re retired, it’s likely you’ll be used to doing things in a certain way which may make you timid when it comes to trying something new. Do not worry about this; be prepared to throw yourself into new ventures and ideas because you never know what the future holds for you. The days of wondering “what if” or “one day” are gone – now’s the time for concrete action. If not now, when? What are you waiting for?
Final Thoughts
Here is a challenge to you. What’s the most important thing you’ve done to keep yourself and your business moving forward? Tell us in the comments!