Chicago, IL (PRWEB) July 13, 2006 –-
The recently released Yahoo Small Business Survey revealed that 55% of the Boomers surveyed said that having their own business is their preferred way to work in the next stage of their lives. But according to business start-up expert Jeff Williams, aspiring entrepreneurs need to be very clear on what they do and do not want when selecting a retirement business.
“While each boomer entrepreneur is unique, the risks they face and the questions they ask are not,” says Williams, who has helped thousands of people around the country plan and launch a successful business through Bizstarters.com and his Go Smart Business Start-Up Center.
As midlife, pre-retirement men and women think about which business to start, Williams suggests these criteria:
·Look for a business whose work will truly engage you – especially important for burned out corporate refugees.
·Understand how well the income potential of your prospective business matches your retirement income needs and know how much you are comfortable investing to launch your business. Later in life is not the time to shoot craps and risk your future financial security.
·Match the physical demands of your chosen business to your energy level. A business that requires long hours every day or hard physical labor may not suit those 50 and older.
·If day-to-day variety is important to you, rule out businesses that involve doing the very same thing for each customer.
·Do you love or hate technology? While most businesses require some computer use, consider the extent to which you’ll need to use other technologies, like wireless gadgets, the Internet and software to manage your business. If you hate technology, can you afford to hire technical help?
·Decide whether you want to learn a whole new set of skills, or build on skills you already have.
·If a franchised opportunity seems attractive, make sure you determine the total expected investment for the first two years. And be aware that in a franchise you will always have a partner who takes part of your income.
To help boomers select which entrepreneurial path to take, Williams will be offering a free telegroup on July 27, 2006, entitled: “Start A Business From Scratch Or Buy A Franchise – Which Is Best For Me?" Visit http://www.bizstarters.com to register.
Bizstarters guides those 50 and over to plan and launch successful businesses through its self-study courses, one-on-one business coaching, telegroup programs and new DVD based on Founder and CEO Jeff Williams' award-winning live workshops and training programs. During his career as a business start-up expert, Jeff Williams has coached and trained more than 4,000 new business owners. A fifty-plus business owner himself, Jeff specializes in showing his peers how to start a business that will inspire and reward them.