Do You Want To Be Self Employed At 50?
What Does Age Have To Do With It? There seems to be this 'thing' about being 50.
Employers look at you through a different set of glasses when you are even over 45.
Over 50 means that they dig to the bottom drawer and look at you through those! I wonder what they see? I have been an employer for over 30 years and more often than not I preferred to have an older employee work for me and for many good reasons.
But that is not why I am writing this article.
It is about being in the situation at 50 where you either want to be self-employed or are being forced into being self-employed.
Today it is often said that 50 is the new 40 and 60 is the new 50.
Most people in this age bracket will say that they do feel younger than they had earlier perceived a person of that age would feel.
If you are fit and well at this age then why not start a business.
After all we now live well into the 80's and older, so do you want to stop work at 50 and every day feel that you 'need' to keep yourself occupied and brain fit? Earning An Income At A Later Age Now that we are living much longer and needing to have income for an extended period of time it is very realistic for a 50 - 60 year-old to look at starting a new business.
The chances are they will have a good 15 - 20 years ahead of them to bring in a good income.
If the business is set up properly they can then move into management of their business for a few more years or perhaps sell the business.
More often than not, when someone starts a business in this age bracket they have had a number of types of jobs and have gained some skills along the way.
It is by using these skills and experience that they can build a nice little safe business for themselves.
Some will go on to employ staff, but others will not, preferring to stay as a one person business.
Interestingly enough, many of the people starting businesses in this age bracket are preferring to start a home based business rather than one where they have to lease premises.
Unfortunately many new businesses fail and there are very good reasons for that.
Usually finance and commitment are the cause of collapse.
So read what you need to do to make sure your business will not fail.
Commitment Just one single word but it covers a multitude of act.
Commitment for a new business owner will mean all of the following, plus many more if the owner does not have a good rounded skill base.
At the end of the day, we all have to take responsibilities for tax lodgement and also review the business along the way so that we make sure it is making an income.
Keeping perspective at all times is important.
If you decide it is to be a home based business for you in your self-employment at 50 then research all the necessary steps and make sure that you have a marketing plan in place because these businesses definitely need one due to the fact that they do not have a shop front exposure.
Employers look at you through a different set of glasses when you are even over 45.
Over 50 means that they dig to the bottom drawer and look at you through those! I wonder what they see? I have been an employer for over 30 years and more often than not I preferred to have an older employee work for me and for many good reasons.
But that is not why I am writing this article.
It is about being in the situation at 50 where you either want to be self-employed or are being forced into being self-employed.
Today it is often said that 50 is the new 40 and 60 is the new 50.
Most people in this age bracket will say that they do feel younger than they had earlier perceived a person of that age would feel.
If you are fit and well at this age then why not start a business.
After all we now live well into the 80's and older, so do you want to stop work at 50 and every day feel that you 'need' to keep yourself occupied and brain fit? Earning An Income At A Later Age Now that we are living much longer and needing to have income for an extended period of time it is very realistic for a 50 - 60 year-old to look at starting a new business.
The chances are they will have a good 15 - 20 years ahead of them to bring in a good income.
If the business is set up properly they can then move into management of their business for a few more years or perhaps sell the business.
More often than not, when someone starts a business in this age bracket they have had a number of types of jobs and have gained some skills along the way.
It is by using these skills and experience that they can build a nice little safe business for themselves.
Some will go on to employ staff, but others will not, preferring to stay as a one person business.
Interestingly enough, many of the people starting businesses in this age bracket are preferring to start a home based business rather than one where they have to lease premises.
Unfortunately many new businesses fail and there are very good reasons for that.
Usually finance and commitment are the cause of collapse.
So read what you need to do to make sure your business will not fail.
Commitment Just one single word but it covers a multitude of act.
Commitment for a new business owner will mean all of the following, plus many more if the owner does not have a good rounded skill base.
- sufficient capital to set the business up, run it until it makes money and to spend on marketing
- an understanding of accounts
- researched knowledge that there is a market for their product or service
- a commitment to customer service
- a preparedness to learn new skills if needs be
- a commitment to marketing the business 24/7 if necessary
- be prepared to employ those who know what you don't know
At the end of the day, we all have to take responsibilities for tax lodgement and also review the business along the way so that we make sure it is making an income.
Keeping perspective at all times is important.
If you decide it is to be a home based business for you in your self-employment at 50 then research all the necessary steps and make sure that you have a marketing plan in place because these businesses definitely need one due to the fact that they do not have a shop front exposure.