Should I Start An Online Business When I Retire?
Short answer on this one is "no"...but not for the reason you think.
I want to explain my answer and what you could possibly do, but let's just clarify real fast.
I have made money with an online business...we're talking six figures a year. However, it is not a "cut and dry" deal. There's education, trial and error, and...what was that other thing? Oh yeah, WORK!
Lots of it.
There's also spending money and time when you might want to be playing golf or fishing.
Having an online business is NOT a cakewalk.
On the other hand it CAN be damn rewarding...financially and personally.
However, I DO NOT recommend you wait until you are retired to try to start an online business.
Semantics, I guess, but, like exercise for retirees, it works better if you get started before you retire.
Now, unless you have experience with Internet marketing, whether you do it now or later, you need to get an education on the topic. I don't care if you have done marketing or sales or advertising or copywriting, or whatever, while the skills learned in these areas are of value, the Internet has its own rules...and YOU NEED TO LEARN THEM!
In the long run, while there are many factors involved in your ultimate success or failure, what YOU bring to the table is going to be one of the main articles which will determine the outcome.
Now, I am not going to provide you with a recipe book in this little article for three very simple reasons.
First, even a brief pass at the basics would take this out of the "little article" definition.
Second, it's already been done by businesses with a lot more resources than I have at my disposal. The best of these are constantly updating their info, by the way, and I will tell you about a couple in a minute.
Third, since success is going to depend on you, you need to take some time to evaluate whether or not starting an online business business before, during, or after retirement starts is for you.
This is why I recommend that people do a little quiet but serious heart-to-heart with themselves. It also helps to get some ideas about what is going to be involved, and, for this, I recommend you read "What Will You Retire To" by Ken Evoy, the founder of Site Build It, a service for Internet business entrepreneurs.
Ken tells it like it is, but he is excited about his company and would really like to have you buy his product, so try to be a bit stand-offish as you read his page. If you think it's for you, great! However, don't just blindly absorb his enthusiasm and go rushing off into the world of Internet business because HE thinks it's a great idea.
If you really are determined to put in some time and effort...and money, I recommend you take a look at the "Step-by-Step Guide to Selling Online". This is an Internet marketing course offered by another company, the Internet Marketing Center. It is very comprehensive and includes a lot of information and support.
Now, the Step-by-Step Guide is a bit expensive, but, in my mind, worth it for the serious Internet entrepreneur who has decided to start and/or run an online business. However, the good news is that the Internet Marketing Center offers a 90 day free trial of the guide, and you can also sign up for a free Internet marketing newsletter.
Bottom line?
You could possibly make a nice little (or large) income with an online business in your retirement. However, it can be expensive and can take more time and effort than you want to put into it. Also, as with any business, there is a chance of failure.
So, take a look at Ken Evoy's webpage, "What Will You Retire To?" and then sign up for the free Internet marketing newsletter from the Internet Marketing Center. Take a long look at the pros and cons and honestly evaluate what you are willing to commit yourself to before jumping in with both feet...and your wallet in your hand.
I cannot make the decision for you, and I cannot say that, just because I did it, that you can. It's your call. That's why YOU have to do the due diligence and make an informed and intelligent decision that you are willing to live with.
Good luck.
ABOUT THE AUTHOR:
Donovan Baldwin is a freelance writer and Internet marketer currently living in the Dallas - Fort Worth, Texas area. He is retired from the U.S. Army after 21 years of service and is a University of West Florida alumnus (BA Accounting 1973). He has been a program accountant for the Florida State Department of Education, a board certified optician, a federal puchasing agent, and restaurant manager. You can learn more about Internet marketing and related topics at his website, http://xtramoney4me.net.
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