Tag Archives: retirement mindset

What do Retirees Really Need?

It’s time to pivot.  It’s time to dream up some new ideas.

It would appear that retirees or soon to be retirees are only casually interested in launching an online business.

I would love to continue publishing and sharing information on how best to launch an online business but I need confirmation that this is truly of interest to retirees.

I do however believe that retirees are looking for something to fill their time with.  The question is what is it?  What are the top 5 things that retirees want and/or need?  How could I help identify these?

Of course there are the obvious ones:

  • More financial freedom
  • More time with family
  • More travel
  • More excitement
  • More passion

These are so many more but what are they?  What are your top 5 wants/needs?

The challenge is how best to convert these wants/needs into something useful and beneficial for the whole retirement market place?

The converse to the wants/needs question is what are retirees or soon to be retirees really struggling with?  What would be required to help resolve the problem or painful situation?

I would love to hear from you.

Please feel free to email me at vance@retireandrecharge.com.

Please note I have disabled the comments section on this blog due to the inordinate number of spam comments from people wanting to advertise their products or provide links to websites where the spammers can gain some sort of commission.

I hate spammers.  They ruin it for bloggers who simply want to share information.

Thus the reason for providing you with my direct email access.

Seriously, I would love to hear from you on what would make your retirement lifestyle a whole lot more enjoyable.  Please email me at vance@retireandrecharge.com.

 

 

 

Why Even Work During Retirement?

You worked for so many years to finally earn that elusive right to finally say, “I’m retired”.  You just want to sleep in, relax and enjoy that leisurely life that you so deserved.  However, you will most likely find something missing in your retirement life.  It’s just human nature to explore.  For some people, the need for connection to the outside world becomes overwhelming.  Then thoughts of perhaps taking on a part-time or even another different full-time job start to creep in.

The reasons are not always about the money

Working in RetirementAs per the chart, the main reasons retirees prefer to keep working to some degree during their retirement is to stay mentally and physically active.  These reasons are followed by maintaining solid social connections and a strong sense of identify or self-worth.  Granted some retirees would prefer to keep working full time past that typical retirement age of 65 or 67or whenever government pension benefits kick in.  Others might want to balance their work life with some retirement pleasure by only working part-time.

Either way, it’s an opportunity to hopefully do something you love.  A chance for a do-over where you can try something you would have, could have or should have done, if only you had the knowledge and wisdom you have accumulated now.  Baby boomers have developed a significant number of skills over the years, not to mention, a very good understanding of what can be accomplished over the internet.  The question is – what wisdom could you share with the world that would help solve a problem, satisfy a need or provide guidance for a large number of people?

Time to learn new skills

Think about it!  If you’re retired or about to be retired, you know there will be hectic times and down times during retirement.  Why not challenge yourself mentally during those down times to do some research into an idea that could keep you mentally active and perhaps even earn some extra income down the road.  I am not the expert here on this whole subject of starting an online business but I have done the research, I have learned from my son’s online business as well as following a few experts in the field of internet marketing and online business.  It’s a very interesting and mentally challenging opportunity for anyone who wants to give it a try.  The sense of achievement can be so rewarding.  In effect you would be learning a new set of skills while leveraging your own knowledge, experience and wisdom.

Your big idea

Again, given the right mindset to begin the journey of launching an online business, the first thing you need is that big “idea”.  You probably have lots of good ideas, even some great ideas but will any of them have a chance at success.  Be sure to write down your ideas and research the internet to see what’s out there.  Don’t be alarmed if someone else has a similar idea or solution that just means there is a market out there for that idea.  One of the experts in the online business world I have been following for over two years now is Pat Flynn from smartpassiveincome.com.  One of his blog postings 5-reasons-your-next-big-idea-might-fail addresses the whole idea why some ideas just simply fail and what you should be aware of.

For example, you might have a lot of experience in woodworking, project management or consulting.  However, these topics might be too general or involve to large a competitive market where it would be very difficult to successfully launch an online business.  However, if you had a lot of experience, for example, in a niche market like teaching interested people on how to play bridge.  Then you could offer that experience, with some authority, a series of video tutorials as well as a series of eBooks on various bridge techniques, this could be a better opportunity for success.

Validating your idea

The next step would be to validate that idea by either surveying your friends and family, purchasing some reasonably priced Facebook ads that target a specific market to see if people actually like the idea or perhaps even pre-selling the online course and/or eBook to people online to verify any would be buyers.  If you receive any meaningful feedback and results, then you’re onto something.  If not, and you pre-sold your product, then you could simply refund the money.  It’s so critical to validate your idea before spending an inordinate amount of time developing your product only to see it possibly fail to launch let alone record any sales.

These are guidelines that have been published by the experts in this field.  They make sense.  This is only the beginning of this journey.  Having a winning idea is one thing.  Marketing that idea or product is where the real challenge is.  For that you need a presence on the internet and that’s where learning those new techniques and skills really begin.  The amazing fact is there are several online marketers who offer their wisdom through blog postings, podcast episodes and video tutorials – all for free. I will share with you some of these expert websites.  You will be amazed how much information is available.  All you need is time to learn.  As retirees or soon to be retirees, time is one thing we should have lots of.  It’s just a matter of balancing your time between something mentally challenging with your whole retirement lifestyle.

My disclaimer

I will state my disclaimer clearly and simply.  The techniques used by these experts were extremely successful for them but it doesn’t mean they will be successful for everyone.  Otherwise everyone would be launching online businesses.  However, as retirees we do have an additional advantage.  We have accumulated years of business knowledge and acumen that we can leverage throughout our retirement years.  The key is to find that “idea” for a product or solution that would be of interest to many others.  It’s time to start brainstorming ideas.  My suggestion would be to seek out a friend, your son, your daughter or your spouse and bounce off ideas to see if any of them stick.  Then let the momentum begin.

Where’s Your Mind At?

As mentioned in my previous blog post, I am committing myself to publish a step by step approach on how I will create and build an online business from this blog.  By achieving this, I am hoping that you too can benefit from this journey.  Granted, I have already made the first step by creating this blog. I will demonstrate how that can be accomplished in an upcoming blog post.

However, the most important first step is whether anyone really has the right mindset to pursue this type of journey.  Motivation to stay the course is so critical.  So many have started and abandoned the whole process.  The main reasons are:

  • Lack of confidence
  • Lack of support
  • Fear of failure
  • Steep and time consuming learning curve

These are common emotions that we all possess at one time or another.  The challenge is to overcome these roadblocks and to demonstrate to yourself that you can achieve something you never would have thought possible.  People do challenge themselves to achieve unbelievable results.  Like running a 10K run or even a half marathon.  Some have tried parachuting out of a plane.  Then some of us would just rather challenge our minds and create something that might actually turn out to be useful and helpful to others.

With the right mindset and the motivation to succeed is crucial before even thinking about starting an online business.  Even then, there will be failures along the way.  However, these failures can be incredible learning experiences to build on for any potential future ventures.

My first objective in starting an online business was to research the market I’m focussing on, that being the retirement or soon to be retirement community.  What do retired people really want or need?  What would make retirement life a more enjoyable time?  What opportunities exist out there for the retirement community?  What would help to improve the overall retirement lifestyle?

Asking those type of questions would be the beginning of creating an idea for a potential solution to help satisfy a need or want.  However, how do you know if that potential solution would be of any real interest to your target market?  I will address that in the next blog posting on how best to validate your idea through sampling of your target market.

Are you with me?