Four Business Ideas to Help You Flourish in Retirement!
You have the date!
After 20+ years, you set the retirement date! Do you wonder what’s next?
You know you have untapped potential, gifts, talents, and experience to share with the world. Starting your own business is intriguing (and, well, a little daunting and scary), but you know it’s the only way you’ll be able to truly have the fulfillment, joy, and freedom you desire in your retirement years!
I want to break down four ideas and the pros & cons of each concept. Perhaps one of the ideas will help you discover your calling!
1) Turn your hobby into a business!
Are you an avid photographer or gardener? Love to read & give book reviews? Could you teach a course on knitting or sewing? Taking what you love & turning it into a good business is a great way to transition.
Pro’s - Since you already know the “what,” the only thing left is figuring out the “how.”There are several resources & business coaches to help you start & run a business or create a course (courses can help you make evergreen money!) around your hobby.
Con’s - The downside is that starting a home business related to your hobby means turning something you’ve enjoyed in your free time into your career. You risk reducing your hobby's fun and calming aspects by putting pressure to create income.
For many people, however, turning their hobby into a business creates more overall enjoyment and satisfaction.
2) Join that Direct Sales business for the products you’ve been using.
Have you been using & loving oils, skincare, or kitchen tools you purchase from your neighbor? Why not join her team and start making money in the direct sales world? Yes, this is viable! I raised my boys and created an excellent living for 26 years in direct sales!
Pros - you already love the products, making them easy to share with others. A big pro is most direct sales/network marketing companies usually offer a ton of support, training, rewards, recognition, and camaraderie. If being a part of a tribe is essential, this is a great way to go.
Con’s - this type of business may not be as portable as you want, and you will usually have to align & follow the company's rules for marketing, etc. Another con, if we are being honest, is that not everyone sees it as a “real business,” but it can be!
3) Free-lance or become a consultant doing what you’ve been doing for someone else in your 20+ year career.
Did you love your career but didn’t like having a boss? Maybe you enjoyed the job but always thought about how you’d treat customers better or run the company. Now’s your time! Create your own free-lance or consulting business doing what you’ve been doing!
Pros - you know how to do it! Plus, you probably already have a reputation in that arena, making it easy to market your new business. People already trust you in this field!
Cons- make sure you aren’t burnt out from doing the “thing” for the past 20-something years. If you need a break from being in the same field, this may not be your best idea. Another caution here is possible infringement with the former employer.
4) Dive deeper into your God-given strengths, talents & calling, and create a business that will let them shine!
What talents have you NOT been able to use in your career but you’d love to tap into for the next decade? What areas are your friends & family always seeking your expertise or advice? There’s probably a way to monetize the God-given gifts you have, it’s just a matter of using a proven system to find out what and how!
Pros- A business created around your natural talents will lead you to a fulfilling and joy-filled life! Every day is exciting when working in your calling! You can design it to fit your dream lifestyle.
Cons - It may take time and testing to determine your ideal business. Like turning your hobby into a business, you’ll want good advice, training, and coaching for running a business.
My all-time favorite is this last one. It’s the one I LOVE to help my clients discover and create because it uses the gifts God gave you!
As you can see - a lot of possibilities, and these are just four ideas out of many! The great news is, as you begin your “what’s next” journey… you are stepping into it with years of life & work experience; you have a mature mindset and a proven success track record. You may not have the energy of a millennial, but you have all of this going for you!
I have personally done or helped clients create new businesses around all four of these ideas, and if you need assistance, I’d be honored to be your guide on this journey to help you flourish in retirement! Schedule a clarity call to see which of these four would be best for you! Let's talk!
Whatever direction you decide to go, make sure this next phase of life lights you up and gives you joy!! As we all know, life is short, so you must enjoy the journey!
If you’d like to be surrounded by other highly successful, like-minded individuals who are on the same discovery journey as you, join the Discovering Your Calling Facebook Community!
