All around us people are losing their jobs and they're not the only ones that have taken a beating. Consider the incredible losses people have experienced in the retirement and pension savings. That money was in the market - in 401Ks and RRSP's and following the advice they've been given for years, people have investments that, in some cases over the last few months have been reduced by a third or sometimes half. So what do you do when you're either retired or about to retire and the money that you've taken 30 years to save has gone "poof" overnight?
There are probably a few better ideas than working til you drop dead, but they don't seem to be presenting themselves right now. In fact, I can't recall anytime in my life when the prospects - overall- have looked quite so bleak for the fifty plus generation- a.k.a. Baby Boomers. But there is one option that I think is workable and ironically, it wouldn't have been here if this mess had happened ten years ago. But I think the internet presents an opportunity for those who are close to retirement to make the ends meet. I think the number of online home businesses are about to explode.
Maybe you question my prediction and simply don't see how a group of semi-seniors will make the leap from email to ecomm. Or maybe you just can't imagine people who are already overworked, coming home to work a few more hours on their own and being successful at it. But really, you need to remember what's at stake - their retirement- and then put it into perspective. By that I mean it won't be necessary to these online businesses to drive a six-figure income. The kids are already in college and their going to downsize anyway. It's just a matter of making the loose financial ends meet in the middle. And to do that, the internet is a perfect medium to foster a new twist on the mom and pop corner store.
Think of it this way-
1. There are lots of different business models to choose from and they can all work. A small, very niche focused retail site or one that offers more products, still within a tightly defined market is a viable internet business. So too is the sale of "information products" or the creation of clubs catering to specific interests. This could be the time when your ecentric hobby is about to pay for itself. Even if you can't write anything yourself, you can get involved in affiliate marketing - sending leads to other stores. Sell collectables on Amazon or eBay. There is an endless variety of business models.
2. The size of the internet will support you in two ways. It dissolves the need for any physical proximity. If no one in your part of the country shares the interest on which you want to build a business - it doesn't matter. Your customers can come from anywhere and the distance won't matter. And because you can draw a clientele from anywhere on the planet, chances are there are enough people to support just about any good idea.
3. There's a phrase used in business start ups called "barriers to entry" and a further advantage to the internet is that there are actually very few barriers to entry. You can start a business on a relative shoe string. You don't need staff or offices or even inventory for many retail sites. It isn't free by any means, you will have to spend some money and you'll expend a lot of effort learning new things- but it can be done if you have the heart to do it.
4. Software to create and manage websites is easier now than it has ever been. It's also very affordable, so the technology barriers that existed only a few years ago, have largely fallen down. There will be many new skills that the next generation of online business owners will need to master, but many will also find that it's not such a bad thing to stretch the old noggin again.
Reading over what I've written, it might seem that I'm trying to push you into starting up an online business. I'm not. But I am predicting, without any hesitation, that in the next few years we're going to see an explosion of growth on the internet in terms of new one person businesses and I'm also suggesting that if anyone looks behind who is fueling that growth, they won't find a host of bright-eyed twenty somethings behind it. They're find their somewhat jaded parents, some of whom are going to get a second chance to be bright eyed kids again and that's kind of cool. - 15431
There are probably a few better ideas than working til you drop dead, but they don't seem to be presenting themselves right now. In fact, I can't recall anytime in my life when the prospects - overall- have looked quite so bleak for the fifty plus generation- a.k.a. Baby Boomers. But there is one option that I think is workable and ironically, it wouldn't have been here if this mess had happened ten years ago. But I think the internet presents an opportunity for those who are close to retirement to make the ends meet. I think the number of online home businesses are about to explode.
Maybe you question my prediction and simply don't see how a group of semi-seniors will make the leap from email to ecomm. Or maybe you just can't imagine people who are already overworked, coming home to work a few more hours on their own and being successful at it. But really, you need to remember what's at stake - their retirement- and then put it into perspective. By that I mean it won't be necessary to these online businesses to drive a six-figure income. The kids are already in college and their going to downsize anyway. It's just a matter of making the loose financial ends meet in the middle. And to do that, the internet is a perfect medium to foster a new twist on the mom and pop corner store.
Think of it this way-
1. There are lots of different business models to choose from and they can all work. A small, very niche focused retail site or one that offers more products, still within a tightly defined market is a viable internet business. So too is the sale of "information products" or the creation of clubs catering to specific interests. This could be the time when your ecentric hobby is about to pay for itself. Even if you can't write anything yourself, you can get involved in affiliate marketing - sending leads to other stores. Sell collectables on Amazon or eBay. There is an endless variety of business models.
2. The size of the internet will support you in two ways. It dissolves the need for any physical proximity. If no one in your part of the country shares the interest on which you want to build a business - it doesn't matter. Your customers can come from anywhere and the distance won't matter. And because you can draw a clientele from anywhere on the planet, chances are there are enough people to support just about any good idea.
3. There's a phrase used in business start ups called "barriers to entry" and a further advantage to the internet is that there are actually very few barriers to entry. You can start a business on a relative shoe string. You don't need staff or offices or even inventory for many retail sites. It isn't free by any means, you will have to spend some money and you'll expend a lot of effort learning new things- but it can be done if you have the heart to do it.
4. Software to create and manage websites is easier now than it has ever been. It's also very affordable, so the technology barriers that existed only a few years ago, have largely fallen down. There will be many new skills that the next generation of online business owners will need to master, but many will also find that it's not such a bad thing to stretch the old noggin again.
Reading over what I've written, it might seem that I'm trying to push you into starting up an online business. I'm not. But I am predicting, without any hesitation, that in the next few years we're going to see an explosion of growth on the internet in terms of new one person businesses and I'm also suggesting that if anyone looks behind who is fueling that growth, they won't find a host of bright-eyed twenty somethings behind it. They're find their somewhat jaded parents, some of whom are going to get a second chance to be bright eyed kids again and that's kind of cool. - 15431
About the Author:
By Louise Collins, author of Start Up Mistakes. so you won't throw money away on your online business start up
