3 Ways to Become a Post-Retirement Entrepreneur

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Today many people who retire are deciding to start businesses and become entrepreneurs. It’s not surprising. Retirees have extensive work experience and knowledge that they can bring to business projects. Many retirees also have the flexibility and savings that make starting a business much easier. This post looks at 3 ways that you can become a post-retirement entrepreneur.

Start An Online Business

If you’re not intimidated by technology, then starting an online business is one of the best ways you can become a post-retirement entrepreneur. Even if you’re not very comfortable with technology, you can partner with others in order to get your website up and running. The type of business you start will depend on your interests. Consider what you’re an expert in. For example, if you’re a fitness enthusiast you can create a business that’s related to fitness advice for other retirees.

Become A Consultant

Retirees can take what they’ve learned from previous jobs and life in general and start a consulting or coaching business. Some retirees will prefer face-to-face coaching while others may prefer online coaching. Online coaching can be accomplished through writing or being an active member of an online community. Due to its flexibility, consulting is a great business option. How much time you devote to consulting and how much money you charge for your services is up to you. Before you start, though, you need to clarify your goals. By clearly defining your goals and creating a plan, you’ll ensure that you build an actual business out of consulting rather than just pursuing a hobby.

Join A Mastermind Group

If you’re not sure what business to start or you have various ideas in mind, then it might be a good idea to join a mastermind group. A mastermind group is a group of people who meet to discuss a shared goal, encourage each other, and offer advice. You can join an existing group and gain some clarity about your business goals. However, creating your own group can even be a lucrative business. This is especially true if you live in a major city. If you create the group, publicize it, organize the meetings, etc, you can charge membership fees. One of the best ways to start a mastermind group is to reach out to your professional and personal network.

Entrepreneur Resources

Here are five resources that will help you get started with your post-retirement entrepreneurial career:

  1. Small Business Administration – Resources to help you start your own business.
  2. SCORE – Free business counseling service.
  3. Bplans – Free business plans to help get you started.
  4. IRS Small Business and Self-Employed Tax Center – Everything you need to know about taxes.
  5. Small Business Development Centers – Find an SBDC near you to get expert advice.2
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