With baby-boomers now approaching retirement age, the “olderpreneur” movement becomes bigger and bigger. Faced with poor job prospects, women in their fifties often have the financial power to start up their own business, reinventing their careers by doing something they always wanted to do.
“Life after fifty can be a great time for new beginnings,” says Colleen Kochannek, a business coach who helps women over fifty start a business they love. “We can take advantage of all our accumulated experience, skills and network to start a successful business we love.”
And the statistics agree: research shows that a 50-year-old entrepreneur is almost twice as likely to start an extremely successful company as a 30-year-old.
Do the prep work
Focusing on a list of different potential business ideas is the first step to take. Women in their fifties have the opportunity of tapping into a great set of skills to define the best business ideas for them.
Kochannek says that “It is always a great idea to find a mentor, someone who can guide you on your new path, whether this mentor is a business coach or an established entrepreneur in the field you want to start your business. This can save you a lot of time by telling you exactly what to focus on at each step.”
Make a plan
Having a detailed plan in place will make things clear and the implementation part much easier. Kochannek says that “You need clarity on who are your clients, what are you selling to them, how will those clients know about your business and how will you deliver your products or services to them.”
Start with a side business
Starting small has a series of benefits like limiting losses while validating the offer and gaining a deep understanding of the market.
“Starting a side business has the advantage of putting you on the steep learning curve of entrepreneurship, preparing you fully before going in full time,” says Kochannek.
Set up the basics
Today there are lots of free or low-cost solutions for all the tools that a small business needs, like websites and payment processors.
“Technology has evolved a lot over the past few years and today you can build a basic website without writing one line of code or running an entire business of your phone,” says Kochannek. “Also you can go online and quickly hire any type of help if you need to, at great prices.”
An effective marketing strategy is key to any business growth, as it helps get new clients and increase repeat business. Kochannek says that “Usually this is the hardest part for most people, many are afraid of being too promotional. But you need to get the word out about your new business, and there is a way for everybody.”
Marketing doesn’t have to be aggressive: by publishing great added value content, for example, new business owners can position themselves as an authority in their fields and reach lots of people.
“Believing in yourself is important. All the research and statistics prove that your experience, your skills, as well as your age are advantages. So if you are committed and work smartly, you can put all this at work and have a business you love in no time,” Kochannek concludes.
Colleen Kochannek is a business coach and mentor for women over 50 who want to get off the starting block and launch the business they have been dreaming of forever.
Find more at: https://www.scrappyfrontier.com
Company Name: The Scrappy Frontier
Contact Person: Colleen Kochannek
Country: United States