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10 Reasons Why Starting a Business is THE Way To Work Now

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There are a number of reasons why you can find yourself in a major work transition after age fifty: You may have been “encouraged” to accept early retirement. You may be one of the more than 3 million 50+ Americans who have lost their jobs in the past two years. You may have lost your spouse to death or divorce and want and need to return to work. You may be lucky enough to receive a pension and have taken retirement.

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You enjoy working, but you’d like to do it another way: You want to be able to do work you enjoy every day. You want to better balance leisure time and work time. You’d like to earn as much as you’re willing to work for.

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To achieve these three goals, you must be able to: 1. Find a way to turn your skill and experience into a business that offers something

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Reason #1 Your age doesn’t matter when you run your own business. Whether you sell goods and services to large corporations or to consumers, your customers don’t care how old you are. They only care that you deliver what you promised when you promised it.

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Reason #2 Technology lets you look big when you’re small. Thanks to technology, more and more business owners are working from home, earning $100,000 or more per year in businesses that cost less than $500 per month to run.

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Reason #3 New businesses last longer than new jobs. More than 50% of new hires today only last 18 months in the job. More than 55% of new businesses last at least two years, with many running five years or longer.

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Reason #3 New businesses last longer than new jobs. More than 50% of new hires today only last 18 months in the job. More than 55% of new businesses last at least two years, with many running five years or longer.

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Reason #4 The Internet gives every business immediate access to the world marketplace. This permits many business owners to live anywhere they wish and still run the company.

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Reason #5 You have 78 million boomer peers to sell to – they see you as a “sister or brother”. You have 42 million people over age 70 to sell to – they see you as a “son or daughter”.

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Reason #6 There are business ideas all around you. For example , solve a business problem with a work skill, satisfy an unmet need for a service in your local area, share an avid hobby interest, sell a hard-to-find product through a webstore, plus many more.

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Reason #7 It’s easy to find out what kind of money you can make before you get started. Here’s how . Write down your desired annual salary. Add $5,000 to it for expenses. Multiple the sum of these two by 1.50 to allow for taxes. Divide the grand total by the dollar amount you can get from each sales transaction. This number represents the number of sales you need to make your first year – can you realistically do this?

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Reason #8 It’s never been cheaper to run a business. Here are typical monthly business expenses for a home-based business: Phone - $100/mo Web hosting - $8/mo E-mail marketing - $19/mo Postage & supplies - $50/mo Accounting - $100/mo TOTAL - $277 + $300(avg)/mo for health ins

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Reason #9 You determine your financial progress. For example , every January I set my goal for personal income for the year and then look at my marketing plan to determine what I will have to do to earn this level of income. Over the 23 years I have been in business, I have made my goals more than I have missed.

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Reason #10 You can continue to run your own business for as long as you wish . In fact the IRS gives you a number of ways to legally put away up to 40% of your salary in deferred retirement accounts, so you don’t have to stop contributing to your retirement plan just because you leave your corporate job and the associated retirement plan.

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