If you’re hoping to start a side business after 40, you’re in good company!
You’re part of a very fast growing group of entrepreneurs who want to make some money and pursue their passions… at the same time. Most people are looking for the flexibility and freedom that a side business brings. And, they are ready to spend their time doing what they love to do.
You’ve had a full and busy life up to this point, which might have been climbing the corporate ladder, running a family business, or maybe you were an active volunteer and stay at home parent. No matter where you’re coming from, one thing is sure. You’re ready to build your own dream rather than someone else’s.
In today’s society, there are more opportunities than ever before to start a side business. If you’re over 40, the advantage that you have is your wisdom from years of experience. You have real business experience that the young entrepreneurs can’t have.
If you have the passion and drive, you have the will to succeed.
The first step
The most important first step is to starting your profitable side business is to choose the product or service you will sell.
You want to pick something that you absolutely love, that will become a part of your life. It needs to be something that you are so passionate about that you wake up every morning excited to jump out of bed and do it. Passion is the raw energy, or fire that fuels your business to keep on day after day after day.
Make a list
Set aside 30 minutes to dream and imagine about those things that you really love. Think about what types of products and services get you so excited you can hardly stop talking about them when someone asks you. Make a list and write down 10 things that you love to do.
You might be a fashionista, so put clothing down. Maybe you love to bake, so add that to your list. Being around kids may energize you, so include that. Computers? Design? Gardening? Whatever gets you jazzed, add it!
You’ve also got to know your strengths. What are the things that you’re really really good at?
When you can combine your passion and your strengths, you have the recipe for success.
A few of my favorite strengths tests are:
Uncover your sweet spot
Once you’ve really focused in on your strengths, go back and narrow your passion list down. You want to keep the passions that will emphasize your strengths. When you can match what you love with what you’re good at, you’ve found your sweet spot. That’s your natural strength. This is where your success and happiness lies.
There’s going to be 2 or 3 that stand out to you. Whatever you choose, you will need to study and do in-depth research to learn everything about it. You must be clear about the type of business, investments, time, inventory, and so much more. But, the most important factor in your choice is to love it so much you could do this forever and enjoy yourself. It’s got to be right for YOU. If you aren’t fully passionate about it, nothing else matters.
Your ideal side business after 40 needs to be something you can fully get behind.
It’s going to become a big part of your life!
We’d love to hear about your side business idea!
Share it with me, and others just like you over on Facebook and while you’re there … grab your daily dose of inspiration, motivation and simple tips to keep you moving forward.