You Are Never Too Old To Start Your Own Business!

Why You Should Start Your Own Business

With more and more jobs disappearing, baby boomers, who are starting to retire at the rate of 10,000 a day, as well as those already retired, are finding it difficult to survive with such an uncertain financial future. Social security, Medicare and Medicaid are going broke, and even if they weren't, the dollar is inflating faster and faster, and no one can survive on that alone.

Then we have those who have built up a comfortable retirement income with investments, real estate, IRAs and 401Ks. They have stood by helplessly and watched them disappear partially or completely. Finally we have the victims of scam artists like Enron and Bernie Madoff.

I personally know of several victims, such as the retired surgeon in Florida, who built up a sizable real estate portfolio, and was enjoying his retirement, until the current recession began in 2008. He had to come out of retirement when the mortgage market collapsed. He had to start over and find another source of income.

What was his solution? He created his own job. He was 71 years old at the time. The job he created for himself was as an online marketing consultant, an independent contractor with an established successful online marketing training company.

My Personal story

I have been a successful businessman in Atlanta for over 45 years, operating a carpet cleaning business. In 2009 I lost my entire investment account in the Forex Currency and Option Markets. That was to be my retirement. I had to find another source of income to retire on.

What was my solution? I joined my doctor associate in the same marketing training company as an independent contractor. In other words, I started creating my own source of retirement income. I was 75 when I started this business. This brings me to the point of this article.

You Are Never Too Old To Start Your Own Business

Business history is full of stories of people who have started successful businesses after age 65. I always think of Colonel Sanders. At the age of 65 he packed up his old car with pots, pans and spices and made personal calls to restaurants all over the U.S., trying to sell his chicken recipe.

He was turned down by everyone, but he never gave up, until he finally found someone that set him up in business. As they say, “the rest is history”.

If you use excuses, such as “I'm too old” “It's too much work” “I could never learn to use a computer” and similar ideas, you are probably right.

If you are a person of action, who can take responsibility, have perseverance, faith in yourself, and a “can do” attitude, then I promise you that you are not too old to start your own business.

I would have started my current online business, even I was 85 or 90 at the time. The point is, age is no barrier unless you put it there. So the next thing to do is find the right business.

The Solution

When you start a business in your retirement age, you need to consider several factors. Probably the biggest one is “how long will it take you to make a profit”?

The purpose of this article was to convince you to start your own business, and that you are never too old to do it.

I am writing a series of articles to help you start your own business. I'm trying to keep each article short to make it easier to digest. The next one will be “What Type Of Business Should You Start?”. Look for it.

You can follow this series by going back to the Ezine where you found this one, or you can follow along on this Blog, where I will be posting all my articles.