How Retirees Overcome Fear of Starting Online Businesses

The trend of retirees starting online businesses is on the rise

Starting online businesses was and still is something we use to relate to the younger generations. However, it’s empowering to see how more retirees than ever start online businesses in their sixties, seventies, and higher up on the age scale, proving that age is no barrier to success.

So, what’s driving this new trend of retirees venturing into online businesses? There are two compelling reasons behind this shift:

People are living longer, they are living a healthier life and are more active than earlier senior generations
The development of the digital environment has been gigantic in the last decade.

Today, anyone with the correct mindset can use all Internet applications and systems available in the market.

These two reasons probably partly explain why the highest success rates in entrepreneurship come from people in middle age and beyond. In fact, one-third of all U.S. small business owners are baby boomers over 50, and 21% are over 60. Thus, 54% of all business owners in the U.S. are over 50.

This is the optimal time to start an online business for people who are going into retirement or about to retire.

Starting Online Businesses Without Fear

Starting an online business in retirement isn’t just about making money. It’s about unlocking a world of possibilities. Here are some of the most exciting benefits:

Extra earnings to supplement retirement payments
Activity allowing to monetize skills and experience
Mobile “office” allowing to travel and live a golden age lifestyle
Mental health support when leaving the corporate job
Working from anywhere, anytime, and all on your own terms

Hold your horses!

…might be your reaction. “If it is all so favorable, why do not more retirees start online businesses?”

Short answer: FEAR!

It’s normal to have fears when considering a new venture. Let’s explore retirees’ most common fears when starting online businesses and how to overcome them.

The list can be almost endless, but in this article, we’ll go through the three most common reasons (in my opinion) for fear of starting online businesses as retirees.

Fear of failure

Let’s start with the most common and obvious.

As humans, we are programmed to think of failure as unfavorable. Well, it is in the sense that the goal hasn’t been achieved…yet.

Everything you do in life also “includes” risks. With higher risk, fear also tends to be more significant. If I were up in the air and had to land an airplane without any previous training, my fear would be at the highest possible level, as you can imagine. On the other hand, if I’m asked to do a favor for my friend and bring his car back to his home, my fear will be much lower. Indeed, I’ve never driven his car, but I know how to drive cars. I have a driver’s license and am familiar with traffic rules.

Starting an online business could be exciting but also scary. I’ve never done it before, and what if I don’t succeed?

How to overcome the fear of failure

First of all, don’t view failure as the opposite of success. Failing is part of the process. Or, as Debbie Gregory says:

“Failure is not the opposite of success; it’s part of success.”

It’s true that no one, or at least very few, likes failures, although they’re a necessary part of your entrepreneurial journey. Many prefer to continue a “safe” and unfulfilling job instead of leaving their comfort zone and trying something new.

One of the most critical parts of taking the step and giving it a try is having all the necessary tools to minimize failures and know how to fix them when they happen.

In Mentors, the system and platform I have been a member of since ten years ago, we understand how important this part is. To start correctly, you get value-packed and comprehensive training by joining ModernWealthy. It’s like having a supportive team guiding you through your entrepreneurial journey.

Fear of the unknown

Close to the “fear of failure” comes the unknown. We all face the unknown…every single day. As humans, we create a certain fear of the unknown. It’s natural, and the human brain tries its best to resonate with and compare fear with opportunities. This is where the term “comfort zone” appears.

“We do not have a fear of the unknown. What we fear is giving up the known.”

-Anthony de Mello

What could explain the trauma around the famous comfort zone syndrome than the quote above?

Do what you consider the best, based on what you know, even if nothing is guaranteed. The cruel truth is that nothing is 100% certain in life, more than the fact that you will die one day.

How to overcome fear of the unknown

The best way to eliminate the unknown is to learn. Simple like that!

There are no shortcuts, but you must learn to transform the unknown into skills. Being an entrepreneur implies an open mind to “trial and error.” You will only know once you try it!

The risk is to decide not to go ahead before knowing it all. What I learned when entering the online business environment is that everything is going too fast to ever be updated on everything going on in the industry.

We at Mentors are aware of the reality that we will never know it all. When becoming a member of LaunchYou, you’ll get access to a unique bank of training courses. Among the more than 10,000 training courses available, you’ll find an answer to any task you might have. It’s like a gigantic daily updated encyclopedia.

Embrace the unknown. Learn on the go to prevent your entrepreneurial project from being blocked by it.

Fear of lacking funds

Whatever you acquire has a price—nothing is for free! Uncertainty creates fear when you don’t know the final cost.

To run your business correctly, you will need certain fixed assets. However, the most important resources will be the ones that produce revenues and make your business profitable. Every business needs start-up capital.

You are probably investing money from your private savings in the business. Depending on the size of the business and the market niche you will use, external financing may also be needed to ensure the business runs smoothly. But with proper planning and guidance, you can navigate these financial challenges with confidence.

Whatever business you’re going for, as a responsible business owner, fear of lacking funds will sooner or later pop up in your mind.

How to overcome the fear of lacking funds

Always, and without exception, work out a detailed budget for your start-up and at least the first year of activity. Just letting it go and trying to solve everything as the needs appear is like crossing the Atlantic Ocean without any nautical chart, compass, or radar. You can reach land anywhere or even be lost in the ocean.

The same happens with your business without a budget and the necessary tools; you can end up anywhere!

In LaunchYou, you’ll have access to training and coaching to learn how to calculate your costs. As an additional bonus, the cheapest way to start generating revenues is with affiliate marketing. No products are needed, and there are no expensive storage and logistic costs. You don’t need to handle the sales when signing up for LaunchYou’s affiliate program. You just get your commission once the sales have been concluded.

We’ll give you the opportunity to earn passive income through LaunchYou’s affiliate program. In this program, you will earn a monthly commission for all active members in your network.

How to Eliminate Fears for Retirees When Starting Online Businesses

Fear is the number one reason for people who retire. They don’t take the step to start their own online business.

It’s also a reality that not everyone has the personality, work ethic, and drive to successfully start an online business. If you feel you have what it takes, you should watch the video and learn how your retirement might be the perfect time you’ve been waiting for.

Here are the links to the pages mentioned in the video:

https://tvdmexonline.com/LaunchYou29724

https://tvdmexonline.com/Community29724

https://tvdmexonline.com/ModernWealthy29724

The only purpose of this article is to eliminate the fear that so often lurks in the background when you’re making a decision. Your fear of failure, the unknown, and lack of funds shouldn’t hold you back.

When you feel ready and are convinced that starting an online business is what you truly want to do, there are three different entrance gates.

ModernWealthy

The ‘Modern Wealthy’ way allows you to finally live the life you have always wanted. It’s about gaining relevant and up-to-date online money-making skills that will give you more time for your family, more time to travel and explore, and more time to do what you like with the people you love while living out your true purpose.

LaunchPad

A complete look-over-the-shoulder step-by-step (go at your own pace) implementation program. Each module is delivered via individual video tutorials with a PDF download that will not just teach you the theory but will SHOW you precisely, click-by-click, how to execute and implement what you’re learning. By completing the six modules available, you will have prepared and launched your dream business from scratch by the time you finish. It’s time to build something you love!

Vision Call

Our mission is simple: to empower, educate, and support you in achieving your version of success with our proven online business blueprint that, if followed, will make your success in life and business inevitable. Embark on your entrepreneurial journey, overcome start-up hurdles, and ignite your business growth with personalized guidance and exclusive access to a comprehensive training session – all completely free!