Business Opportunities Weblog

January 14, 2008 by Rich Whittle | 5 Comments

Rhonda Abrams At Gannett News Service:

Congratulations! You’ve finally retired and moved to the desert, beach, mountains, city or some other dream retirement location. Fortunately, you’ve saved up enough to buy a great retirement home.

However, you still need — or want — to make money. But you certainly don’t want another job; you’ve had enough bosses for a lifetime. So, start your own business!

So, the First Rule of Retirement Business is: Don’t make too large and risky of a financial investment — unless you have a lot of money or you’ve run companies before.

I’m always wary of first-time entrepreneurs, of any age, starting businesses requiring large upfront investments — retail stores, restaurants, bed-and-breakfasts. It takes a while to see whether you like, and can handle, the obligations and headaches of running a business.

Unlike young entrepreneurs, you don’t have the time to rebuild your nest egg. But you do have time to work your way up to a larger company, if you later decide business ownership is right for you.

So I suggest — to all first-time business owners — start with businesses requiring little capital.

Read more.

Photo by MSDesigns.

In Uncategorized | 5 Comments
Tags: Retirement, Self-employed, Startup