Launch A Business After 50
CNNMoney:
1) Look for an industry that will truly engage you;
2) Understand the income potential and whether it matches your needs, and how much you are comfortable investing;
3) Match the physical demands of your chosen business to your energy level;
4) If day-to-day variety is important to you, rule out businesses that involve doing the very same thing for each customer;
5) Do you love or hate technology? ‘While most businesses require some computer use, consider the extent to which you’ll need to use other technologies – like wireless gadgets, the Internet, and various [types of] software;
6) If you find you’re drawn to a franchise opportunity, make sure you determine the total expected investment for the 1st 2 years;
7) The eagerness of the over-50 crowd to be their own bosses has spawned a mini-industry of coaches, specialize in advising would-be entrepreneurs. You might, for example, check out a terrific book, Too Young to Retire: An Off-the-Road Map to the Rest of Your Life ($13, Plume), by husband-and-wife team Marika and Howard Stone. Both the book and the Stones’ website, www.2young2retire.com, are packed with practical advice and real-life tales of people who are making a living by living their dreams. Good luck!
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