The idea of running an online business may seem like a formidable task to the over 50 crowd who are unfamiliar with many technical aspects of the Internet.
Some baby boomers have had trouble learning the language of computers and the ‘net. After all, there are so many technical terms which may be totally unfamiliar to them, but are part of most people’s everyday language.
The good news is that nowadays, unlimited support is available for people over 50 who want to learn more about computers and the Internet. Plus, many tasks can be outsourced if you’re not ready to tackle them.
Starting and Running a Business for Under $30 a Month
More retirees are choosing to supplement their retirement incomes with an online business rather than enduring the astronomical costs of an offline business. The cost is low and they can set their own hours and be their own boss.
Unlike a traditional offline business, the requirements of an online business are as simple as having an idea and developing a blog and website.
All you need are a computer and an Internet connection and some knowledge of both and you’re ready to go.
There are so many types of online business which utilize the skills and experiences that seniors likely have that it can be fairly easy to find a niche that will be profitable and even fun and rewarding.
And it’s cheap!
Most people in the over 50 camp simply cannot believe that you can start a business online for less than $30 a month. Especially because starting a business before the birth of the Internet usually was a multi-thousand dollar venture.
But it’s true. That’s all you’re going to pay to start your new online business.
- A domain name is less than $10 per year at namecheap.com and that’s less than $1 per month!
- You can get reliable web hosting for about $8 per month.
- Add in a $19 a month autoresponder account for automated email follow-ups and you’re still spending less than $25 a month on your entire business.
The remainder of tasks for your new business can be done by you – unless you choose to outsource some of the work (such as writing content). I outsource all the time at Fiverr.com for just $5-$10 a pop, on everything from social media to design and more.
And hey, if you don’t want to outsource, you can simply enlist the help of children and grandchildren whenever you get stuck.
But before you get started know this…
More than anything else, starting an online business requires discipline. If you’re used to working for a boss, you may find it difficult to set your own hours and work at your own pace – but with patience and fortitude, you can make it work.
You also have to remember that there is a lot of competition in online businesses. Your consumers will be looking for quality and value and your job is to convince them that your product is what they need.
That can be accomplished with research of your niche and offering the highest quality products you can possible provide. Put up a quality website or blog. Spending some time and even money as needed to polish your website and create interesting content will drive traffic to your site and the result will be more sales and profit.
Types of Businesses You Can Launch Online
No matter what your skills or preference, there is likely an online business that will appeal to you.
If you’re just out of retirement, it’s especially enticing to start another career or build your own business with very little startup costs and the pleasure of being your own boss.
The types of businesses from which you can choose are many and varied.
Consider your skills and experience and check out such businesses as affiliate marketing, coaching or selling content (PLR).
If you’re into creating stuff check out Etsy.com. It’s a rapidly growing platform where people sell really interesting things they create.
In fact, if more people know about all the great stuff on Etsy, there would be a stampede there.
Right now there’s only 2 Million sellers and 45M buyers. So it’s the PERFECT TIME for you to build an income USING Etsy … AND SHOWING OTHERS how to use it.
My friends Charles and Laurel create over the shoulder videos showing you how to use platforms like Etsy.
They just completed this Etsy PLR video series for 2020 you may want to grab.
Maybe you prefer to buy and sell stuff instead. If you like to buy and sell, consider using Ebay. (I sell golf clubs all the time on Ebay and it is a breeze!)
If you have a knack for writing, you may want to consider writing reports for businesses or writing blog posts for online business owners. Free online tools are available and easy to implement and can be very powerful as a way to get you started. One of the top online demands for services on the Internet is include freelance writing.
As a freelance writer, you would write articles and content and possibly propose creative ideas for future work. Most large businesses and websites prefer to outsource their writing tasks on an as-need basis, so there are enough freelance writing jobs for most everyone.
There are also ways to become a virtual assistant to a company or person or you could begin creating graphics for eBooks and other specialties. You may want to consider becoming a virtual assistant if you have experience in managing an office or projects.
As a virtual assistant, you would help businesses and people stay organized and help them complete administrative tasks. Keep in mind that your list of tasks may vary according to your client’s needs.
The growth of the Internet has made it possible for people to have a home-based business. This is the perfect scenario for retired seniors, those with disabilities that make it difficult to commute to a job or to those who desire to create their own businesses and leave a legacy they can be proud of.
To your success online, no matter what your age!
Jim Daniels
I enjoy learning from your experience, and also appreciate learning that someone can do this without hiring a staff. Your tips on places like Fiverr, etc help a lot.
Thanks Marion. Yeah, through the years the only staff I’ve ever had were my parents when they were in their 60’s. They did all my order fulfillment and shipped all my books. My dad has since passed on and I no longer ship physical books. Now I focus more on affiliate marketing, downloadble ebooks, my membership site at ezWebBusinessBuilder2.com and offering advertising at my blog. But I also like to dabble in domain reselling and ebay selling. The thing is, there are so many ways to earn money online you just need to find what you like doing the most and focus your efforts there. It’s all about focus and determination, which most seniors have plenty of!
Thanks for the article. My wife has been employed in the institutional investment field as a portfolio manager for 30 years and would like to step back by working remotely full or part time. You listed some sites in your article above involving piece work or virtual assisting. Are you aware of any websites that specialize in financial investment piece or project work? Do you have any thoughts in how best to find them if they exist?
Thank you
Hi Mark, thanks for posting. In answer to your question. I’m not aware of any sites that specialize in that, but do some google searches and there may ust be a few. If not, maybe you could start one! Or perhaps a better ides… it sounds like with 30 years experience in investing your wife should be able to write quite a revealing book! I’d consider that route.
A big advantage of an online business it its portability. We plan on downsizing and moving to a warmer destination – probably offshore. An online business would allow income continuity from anywhere we choose to relocate (as long as there is reasonable connectivity).
Great point Kevin! I have an older sister who moved to Greece last year and is growing her own income stream from the web. That is the beauty, you can live wherever you want as long as there is an Internet connection. And you can travel as much as you want too. My wife and I plan to travel more now that our kids are leaving the nest and I always bring my laptop so I can put in at least a few hours a week and keep the income coming in.
I wish you best of luck with your travels and business ventures too!
Hi Jim,
I’m 69 and still going just like a bunny online. I have found that I enjoy my online venture way more than I ever did working for the man.
My biggest endeavor is my Amazon business but the one that I ge the most satisfaction from is designing and uploading my own web sites.
Once you have learned HTML WordPress is like going back to kindergarten school. With HTML I have complete control, not a program that says it’s smarter than me!
And if my brain cell is working correctly I think that one of the very first items I ever purchased on line was from you and I think that it was called The Internet Super Highway or some thing like that.
Anyway keep up the work, it’s great reading and learning material even for us out to pasture oldie’s.
Gary
Hi Gary, thanks for posting. I love to see seniors such as yourself going strong online. And wow, I had forgotten all about that Information Super Highway manual I wrote. It was a basic intro to the Internet before websites were even popular. I remember because I wrote it in 1996 while I was still working my 9-5 job for the telephone company. It was a .txt file and I sold a ton of them which helped me break free from that job. Man, 20 years went by in a blink!
Anyway, I’m glad to see you’re still going strong too, keep it up!
May I add one more to the list of online works ideas for the seniors so beautifully explained by you ? Managing
” Social Media ” for others could be a very lucrative idea
for those seniors who have or could get the hang of such
as Facebook, Twitter. Instagram, Linkedin and Google+.
We would love more on this from you in your eloquent and lucid style.
Great ideas, all~ Now I need to focus on discipline, lol.
Jim,
I have been reading your information and ordering PLR from you since……… well you know how long that has been.
I had stepped away from anything to do with the Internet for a little while then I felt like I wanted to get involved again and see if there was anything I could do to help the people in my age group make some extra money for retirement. The first thing that caught my eye when I started looking around was Tiffany’s PLR pack that you are promoting. It is great stuff. Then I found this blog post and after reading it I thought I should make a comment. It’s great stuff to. Will be looking forward to reading anything else you post on this subject.
Seeing that I am well into the Senior group I like reading about how to create for the group and possibly coach that age group. But, I don’t have much confidence in other Seniors taking the time to learn. None of my friends is interested in what I do at all. Any stats on the 50+ group Jim? Thanks for your posts.
Frank
Hi Frank, while I do not have any stats on how many other seniors will take time to learn, I know one thing… there are sure a lot of seniors commenting on these posts. If that’s any indication I’m confident there would be plenty of potential coaching students for you!
[…] In part two I gave you some online business ideas for seniors. […]
In an age where seniors are hardly focused on it’s heartwarming to you provide them this low-cost, home-business option. Thanks Jim.
Hi Jim. I have known about and followed you for some years now. The first thing I remember is yout email system — something like quartz, I’m probably way off base with the name. Anyway, I used some of your articles for posting online when you were allowing the use of 10 of them. This was all before Facebook and while I was still “working.”
I have a couple of your PLR packages that I haven’t used yet — get so busy with my blog and other things. I need to have a cover… I made a note of the lady you recommended in one of your emails. I hope it’s not outdated before I get to it. Thanks for your help and recommendations.
Hi Jim,
Vaguely remember you offering the ‘Information Super Highway’ Manual. Maybe, after twenty years, it’s time you looked at it afresh and wrote an up-dated version? Just a thought…
I also like the 27th August comment by Amarjit Singh, above, regarding ‘Managing Social Media’. I think he has an excellent point, as I am honing my ‘Luddite’ skills (Not in the original, machinery-smashing sense, I hasten to say, rather the dislike of modern technology) more & more as the years roll on! So, when are we going to see the new ‘Managing Social Media For Seniors’ product, Jim?!
As a completely separate aside, maybe you should use EFT – this is in regard to your recent e-mail about your family issue…
Keep up the good work,
Regards,
Steven.
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Jim,
It’s always good to look at the basics for perspective.
Thanks!!
Barry