Are you a retiree looking for something to do? Launching a business could be a great use of your time! Not only will your business bring in some extra spending money, but it will also lend a great deal of meaning and fulfillment to your life. Of course, starting a business does come with its fair share of risk. The last thing you want is to pour your retirement savings into a business plan that winds up failing. 

Build a Strong Online Presence

Whether you’re running an online store or a brick-and-mortar business, building your online presence is essential. If you’re not online, your business is invisible to locals searching for your products and services. Make sure those customers can find you! Beyond driving traffic to your business, building an online presence will also help you share promotions, get reviews, engage with your customers, and resolve customer support issues swiftly.

Do What You Love

You’ve already spent your whole life working. Don’t spend your retirement doing something you dislike! Try to come up with an idea for a business that you will really enjoy working on. As Bplans suggests, turning a hobby into a business is a great place to start. For example, if you enjoy knitting, you could sell your hand-made products online. If you’re a strong writer, you could launch a freelance copywriting business. 

Be a Stickler for Business Ethics

Retirement is a time to explore your passions and be a little laid back, but business ethics should always be at the forefront of any business, regardless of whether it’s a passion project. The Markkula Center for Applied Ethics at Santa Clara University notes, “New ventures can make ethics part of their business plan.” This includes giving business ethics a central role in your start-up’s culture by taking actions like anticipating ethical tensions that may arise in day-to-day decisions and engaging with the community by participating in service projects.

Create Work-Life Balance

Even if you like what you’re doing, it’s important to make time for activities outside of your business. It’s easy to get caught up in everything that needs doing and forget to take care of yourself or tend to your relationships, especially if you’re new to managing your own work schedule. If you work from home, this is particularly true, as it’s easier for your personal and work life to intertwine. Keep your home stress-free for both your time at work and during your downtime by decluttering and keeping things organized. Also bring in a few houseplants, which will help brighten the mood and purify the air, as well as investing in an oil diffuser for essential oils like lavender.

Try to carve out some time every day to exercise, socialize, cook nutritious meals, get enough sleep, and indulge in non-business activities that you enjoy. A well-rounded lifestyle is the key to a long and happy retirement!

Courtney Rosenfeld – GigSpark