Maybe you’re thinking about retiring in the next few years, or perhaps you’ve just retired recently. Either way, you might be wondering how you could go about earning some side income when you’re no longer working full-time. Here are a few tips to help senior entrepreneurs get started on the path of business ownership.

Conduct Market Research

Perhaps you have a particular business idea in mind, but you’re not sure who your customer would be. Conducting market research can help you answer this crucial question. Get in touch with people you know who use products or services similar to the ones you plan to offer. Ask them how they discovered the companies they patronize. Was it through word of mouth, an internet search, a direct mail flier, or some other method? Their responses can help you determine which marketing techniques to prioritize.

Focus on Networking

In addition to talking to friends and family who might be interested in supporting your future company, you can engage in other networking efforts. For instance, Olympia Benefits states that networking can help you generate business leads, learn about new trends in your industry, and make new friends who can support you as an entrepreneur. You can never predict when you’ll bump into someone who could let you in on a new business venture! You may want to attend local conferences or workshops or join networking groups online.

Join Your Chamber of Commerce

Becoming a member of your local chamber of commerce is also a great way to network! Why should you join your city’s chamber? OnlineMBA states that you’ll be invited to events with other entrepreneurs, and you’ll generally have the chance to promote your business in marketing materials produced by the chamber. You’ll also have access to member directories, which you can use for lead generation and general networking purposes.

Print Marketing

Print marketing has not gone out of style! No matter what kind of business you’re running, you can reach new customers through a print marketing strategy. You can design direct mailers, place ads in local newspapers or other publications, and even put up business cards on coffee shop bulletin boards. In order to best target your print marketing strategy, take some time to think about where your typical customers congregate in person. You want to make sure that the right people are seeing your marketing materials.

Digital Marketing

Today, plenty of seniors are very tech-savvy, and entrepreneurial retirees leverage various digital marketing techniques to grow their businesses! Even if you don’t feel very confident in your tech skills just yet, you can ask a younger relative for assistance, or you could look into digital marketing courses through a local community college or online university. 

You can also outsource certain projects or tasks to contractors. For instance, you could hire a web designer to build a company website for you, or you could hire a social media manager to schedule content for these platforms and engage with your followers. Remember, part of being an entrepreneur is being willing to learn as you go, so ask questions about tech platforms that you’re not familiar with. Within a few months, you’ll feel much more comfortable navigating different digital marketing methods.

You can also utilize some free tools as well. For instance, you can design your own logo or business card using online tools. Or you can utilize a banner generator to create an eye-catching image or advertisement on your site. Select an editable template and personalize it with your own images, design assets, and text. 

The prospect of running a business in your golden years can be exciting! You don’t have to wait until you’re officially retired to start making business plans, either – you can get the wheels in motion now. With these tips, you’ll be ready to launch a business and make extra income as a senior.

Whether you need to create a stellar resume or just need to showcase your talents and skills, Mike McRitchie can help you move to the next level in your career or business!

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