HOW TO OPEN A BUSINESS AFTER FORTY AND NOT BURN OUT RECENTLY
IT’S ABOUT TIME: HOW TO OPEN A BUSINESS AFTER FORTY AND NOT BURN OUT RECENTLY, EVERYONE HAS BEEN TALKING ABOUT RAISING THE RETIREMENT AGE AND RELATED PROBLEMS. I THINK IT’S ABOUT TIME START WORKING FOR YOURSELF SO YOU DON’T HAVE TO WORRY ABOUT YOUR PENSION.
Coach of Moscow Business School, consultant in the field of personal growth Oksana Samarina told about how to start your own business and not lose money.
IT’S NEVER TOO LATE
The first and most important thing to remember for future businessmen is that it is never too late to start.
Look at the story of Colonel Sanders, who, when he was 40, opened a gas station where he treated customers to fried chicken. At the age of 60, he was already engaged only in the restaurant from which the KFC chain grew.
Or another example — Willie Blum. At the age of 60, he opened his own company for the production of unusual ice cream Denali Flavors. Now it is one of the most popular brands in the United States. In 2017, the company produced 30 million packages of its best-selling ice cream brand, and in 2018 acquired a third factory in Wisconsin to expand the business.
DON’T GO TO EXTREMES
There are two obviously failed approaches to starting a business.
Some believe that it is very easy to start a business. We are sure that once they start, they will inevitably succeed and earn a lot of money. Take the first step and when faced with obstacles, such hyperutility dropping the ball.
Others believe that business is difficult. They are sure that everything is bought, it is useless to try. They don’t try to start. Even if they have an interesting and potentially profitable idea.
DON’T INVEST EVERYTHING YOU HAVE
Another common mistake that novice businessmen make is maximalism. This is typical for the older generation. Starting a business, people take out loans, sell an apartment and invest all their savings. They rent an office, open an LLC — and find themselves without clients, but with huge debts… For many people over forty-five — this is a real disaster.
It is important to start with a small investment. Attach a little bit and see the result. If there is one, invest a little more. So the business will develop, and there is less chance to remain in the broken trough.
4 RULES TO OPEN YOUR OWN BUSINESS
Finding motivation is the most important thing. If you have knowledge and skills, but no motivation, it is impossible to get up from the sofa. You need to find something worth working for.
Define the goal. It is important to understand why you need a business. What is the company’s goal? Decide what should happen in 1 year, 2, 5, or 10 years.
Go to school. First, you need to identify your pros and cons. Find out what skills you already have and what you need to improve. Free courses can be found in employment Centers. In addition, there are inexpensive online classes on the Internet. If you are ready to invest in education, look at business schools. There are specialized seminars on any topic, as well as MBA programs that give the skills necessary for every Manager and business owner.
Develop plan B and plan C in case plan A doesn’t work.
CURRENT BUSINESS IDEAS
Remember that it is not the strongest or the smartest who survives, but the one who has adapted to the changes. The task is to catch the wave. Evaluate the changes taking place in the world and act. Then, perhaps, despite your age, you will become the first and best in the business that you have chosen.
Pay attention to new technologies. Virtual and augmented reality, for example, have long ceased to be fiction from the distant future. These technologies are already being used in schools. It will not be difficult for people with technical education to master them, and the prospects are very bright.
Maind-fitness is another IT direction for business. This exercise equipment for the mind. Everything that develops IQ, speed reading, memory… Courses, programs, and applications in this area sell well.
QUICK AND EASY
If you are not ready to conquer VR technology, there are easier ways to start a business. Pay attention to SMM and social network administration. Of course, this also needs to be learned, but the basics will be learned within a month. And then-to look for clients and earn money. It is easy to promote anything through social networks if it is of good quality. Then you can find customers at least in 40 years, even in 70.
To sum up: it is possible to start a business after 40 years. Of course, this will require effort, time and financial investment. But if you have a desire, you need to try. The main thing is to assess the risks and not be afraid of difficulties. And you don’t have to worry about your pension.
You can learn the basics of business on the Internet, gain knowledge on marketing and management, increase personal effectiveness and get acquainted with business in the field of innovation at seminars at Moscow Business School.