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How To Start Your Own Business

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succoach

succoach

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To begin with, when I was younger, I had the boundless optimization that is bred by the naivety of youth. I hadn't been through much hardship in my life, and so didn't think anything bad could really happen to me, including the possibility of my business failing. Therefore I went boldly forward with few resources or contingencies in place.

You'd think older entrepreneurs with their greater net worth would be more financially courageous, but the opposite is often true. If you're 50, and your business bombs and draws down your retirement nest egg, you may not have time or earning power to make it back. Therefore, many 50+ entrepreneurs are afraid to take big financial risks.

As an old dog entrepreneur, you have to learn new tricks, and it may take a lot of practice to break old habits. For instance, my children laugh that when I need a business phone number, I look in the Yellow Pages and not Google. When my youngest son saw that AARP sent me a free transistor radio as a premium, he laughed again: "No one listens to the radio on a radio," he said.

Then it's a matter of finding a vocation that allows you to live, as closely as you can, your ideal day - every day of the year. To find that vocation, make a list of your interests, passions, aptitudes, and favorite activities. Are any of these things other people would pay you to do or make? Those are the realistic options, unless you are independently wealthy.

People who should listen to this show are entrepreneurs, solopreneurs, career & executive coaches
 

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