People Over 50 - How to Start a Successful Online Business
People Over 50 - How to Start a Successful Online Business
Residual income that just keeps coming is always a good thing - but for the retirement crowd it is critical. We want to get something going quickly that will start generating a cash flow that will continue to grow over time but will require less and less work as we get older. Is this possible? Absolutely.
Well, you then ask, how can I start some online business work from home that will fill the bill? I'm old enough to realize that there "ain't no free lunch" but I don't want to be working for my lunch much longer either.
Starting a successful online business that really works takes three essential ingredients: time, work and money. You must have at least a little bit of all three and be prepared to make a reasonable investment of at least two of those ingredients to gain the financial security you need going into retirement..
Think of a triangle. The space inside the triangle is the "success" factor of the new income stream you're looking to develop. Each of those three factors is a leg in the triangle and your objective is to create a triangle that has enough "success" inside of it that it will sustain you for the rest of your life. You don't want to be required to keep adding to the legs (time, work, money) once the business is off the ground and running.
If you have large amounts of one of the legs on this triangle ( time, work, money) to invest, then you can get by with a smaller amount of the other two.
On one end of the spectrum, If you have a lot of money, you can spend a relatively small amount of time and work. Go research, analyze and purchase a good ongoing business that does not take the initial amount of time and work resources required to get a new venture "off the ground". Once you have a well managed, self sustaining business you can reduce the amount of time and work involved and continue to manage (or pay to have someone else manage) and grow the business. This becomes your retirement cash generator.
If you only have a small amount of money to invest, you are not going to be able to purchase the results of someone else's past learning, trial, error, blood, sweat and tears. So, that means you're going to need to be prepared to put those ingredients in of time and work to build a business large enough to become self sustaining. Once you have it built, you can have someone else manage and maintain it and the business will still grow and the cash will still flow.
If you are prepared to invest large amounts of money to acquire a currently successful business that is well managed and still in a growth mode, then beyond the period of time and amount of work it takes you to research and acquire such a business, money becomes the main factor. The "type" of business (what it does, where it does it geographically and online or offline) really don't matter too much. Just the opposite is the case if you are starting with a small monetary investment.
When you only have a small amount of money to put into your business, you are going to spend a lot of time and effort working in and on your business so be careful what you choose. If this is your case, spend time and identify what kinds of things you really enjoy doing and what things you just are not willing to spend your time doing or learning how to do. Those two lists, then become your roadmap for researching possible startup opportunities either online or offline.
There is an incredible amount of opportunity to work and start an online business that can (within three to four years and sometimes less) become a self sustaining well managed cash generating machine. Do not be foolish enough to think that such a thing exists without a significant investment in varying quantities of time, work and money. Remember the triangle. The longer you can make each of the legs, the greater the "success value and volume" you will have inside.
One last note. Be careful of the two worst "dream snatchers". Charlatans and lack of focus. Those are both deep subjects for another time but use your good sense, choose and invest wisely, start an online business and retire with an abundant lifestyle.
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