Prepare For Retirement: 5 Proven Ways To Make Money Online After 50

  1. Introduction to Online Business
    • My Story – How I expanded my E-Commerce Business and added an Affiliate Marketing income stream at 57
  2. Benefits of Starting an Online Business After 50?
  3. Top 5 Profitable Online Businesses for Individuals Over 50
    • E-commerce Store
    • Consulting Services
    • Online Coaching
    • Blogging/Vlogging
    • Digital Products Creation
  4. Tips for Success in Starting an Online Business After 50
  5. Beliefs That Hold Us Back
  6. FAQ’s
  7. Conclusion

Introduction

Are you over 50 and like me, standing at a crucial crossroads in life? With nearly three decades spent in a career that once promised stability but now leave me pondering an uncertain future ahead. The burning question echoes: what next? Retirement is on the horizon, yet there is no longer a financial cushion it seems, particularly in today’s world of soaring expenses. That pension you thought would be enough will just not cut it in todays world!. It seems you are never able to have enough money put away where you can live comfortably, enjoy those “golden years” without the constant worry of having enough to even pay the bills

The alternative is maybe 10 more years toiling away in a job that is no longer fulfilling or maybe just too physically demanding, where time is not your own, and income remains tied to the clock, where your time is dictated by others priorities, where income is capped by a time for money wage at a value which seems more dictated by circumstance than talent and effort. Does this resonate with you? If so, there is a lifeline for us if we choose to seize it.

How much do US adults think they need to have saved for retirement?

What are the implications of the status quo? Will you have enough income to retire?

I asked myself the very same question!

No matter where you live in the world these days the increased cost of living is far surpassing the increase in pension earnings. To just cover the basic expenses that we all face is becoming greater challenge with every passing year. It’s to the point where relying solely on a pension is more and more risky with every passing year. It is becoming almost a necessity to find extra sources of income that can supplement your pension or put you in a better position when that day finally arrives. Its just a matter of how you want to approach the problem. Do you want to work in the traditional way earning money by spending more of that time that is becoming more and more valuable to you or maybe choose to find another way where you have control over your time, the amount you work and build an income stream on your terms around something you love?

Retire Early – No Extra Income

  • Increased Financial Strain
  • Risk of Falling Deeper In Debt
  • Reduced Quality of Life
  • Limited Ability To Handle Emergencies
  • Social Isolation
  • Dependence on Others
  • Postponed Retirement Dreams
  • Vulnerable To Economic Downtimes

Retire Early – With Extra Income Streams

  • More Financial Flexability
  • Able to spend more time enjoying your passions and less time worrying about money
  • Able to have extra money to help out your children or grandchildren
  • Able to better handle drops in the Market or Unexpected Financial Costs like house or vehicle repairs
  • Enjoy those retirement dreams such as more travel

But there is another way for us who find ourselves in our fifties and want to desperately try something new. Maybe take retirement but earn extra money doing something we love on our own time and afford to enjoy life in a whole new way or be better prepared for when that day comes! Sooner than we thought possible maybe!

Make Money Online” becomes more than a catch phrase; it emerges as a lifeline, should we dare to grasp it. The digital revolution has reshaped the rules, offering opportunities for individuals of every age to carve out thriving enterprises online. Yes I said every age including those of us over that milestone age of 50!. Here, we can unleash our creativity, expand our horizons, and connect with a global audience in ways we once only imagined. It’s not merely about financial gain; it’s about realizing our potential and contributing to the world in ways we never thought possible. In this realm, age is not a barrier but a bonus, where wisdom and experience serve as invaluable assets on the journey to financial success and time freedom.

Indeed, there’s a trend of seasoned individuals venturing into the realm of online entrepreneurship. Some seek a change of pace or wish to explore newfound interests in retirement. Others view online businesses as a means to supplement their retirement income, unlocking avenues to earn extra money online and make retirement a little easier taking that weight off their shoulders of having to stretch every dollar just to cover their daily expenses. With a wealth of experience under their belts, many in this demographic just seek additional income streams and fresh opportunities to thrive.

Stay with me as I unveil five lucrative online business models that you could start, alongside their respective benefits and obstacles you may encounter. Also prepare to delve into the concept of the “Authority Marketing” and the Modern Wealthy Way, a departure from the conventional paradigm of trading time for money. This was the breakthrough that changed my life from someone who worked a 9-5 job as well as ran a side hustle off and on since 1993 but never really realized any significant financial gains to someone who is now retiring from his day job expanding his e-commerce business and is running a second affiliate marketing business all from the comforts of home. Envision a life where the office cubicle dissolves away, replaced by the freedom to work from any corner of the globe, on your terms, and on your clock. No more answering to superiors, no more constrained vacations, no more shackles on earning potential. It’s a tantalizing prospect, within grasp for those willing to gain the necessary skills and seize the opportunity.

My Story – How I expanded my E-Commerce Business and added an Affiliate Marketing Income Stream at 57

Growing up in a small rural community in Newfoundland, Canada, my journey began like that of many others. Born into a family of hardworking parents who aimed for nothing but the best for their three sons, education was paramount. From an early age, the blueprint of my future seemed predetermined: excel in academics, secure a stable job, and live out the rest of my days in contentment. Little did I know, life had a different adventure in store for me.

Following in the footsteps of my eldest brother, I pursued a path of “safe” and secure employment, culminating in a Mechanical Engineering degree in the early ’90s. For the next 25 years, I dedicated myself to various roles within the Mining Industry, navigating through Engineering Design, Supervision, and Maintenance Management. While these traditional roles bestowed upon me invaluable life lessons and professional growth, they also sparked a nagging question: Was this truly what I was destined to do for my entire life?

Amidst the rigors of professional life, I found solace and strength in the unwavering support of my pillar of support – my wife – as we raised our three wonderful children. Yet, despite the semblance of stability, life had a peculiar way of throwing curveballs. The closure of the business in 2015 disrupted the security of our income, leaving behind a trail of financial uncertainties and dashed dreams of early retirement.

As fate would have it, a stroke of luck led me to a new role in a Metals Refinery however it came with a cost. Increased stress of a new and demanding role, and a Boss that didn’t make life easy plus a commute each day in all kinds of weather.  Despite the stability, the stress placed pressure on my marriage as I found myself more and more disconnected from family and friends. A lingering question remained: Was this what I had to look forward to for many years to come until I could be in a position to finally retire? It felt hopeless!. The desire for greater autonomy and control over my time began to take root, echoing the sentiments of many in our generation who yearned for a life beyond the confines of the traditional nine-to-five grind.

The turning point arrived in June of 2021 in the middle of the pandemic when the stress and dissatisfaction with my career lead me to a crisis. A month later, a sudden heart attack served as a wake-up call, propelling me into a journey of self-discovery and reinvention and leading me to explore alternatives that could give me the quality of life I needed and deserved.

With a thirst for knowledge, I delved headfirst into the realms of online entrepreneurship, devouring every piece of information on building financial security and personal growth. Balancing a demanding 40-hour work week with newfound pursuits, I embarked on a quest to transform my life into one where I had more time and financial freedom

I had some experience in the online world with a small e-commerce side hustle business selling outdoor products but I was never able to make it profitable. I was missing a key ingredient and that was the knowledge and skills necessary to really leverage the world of online entrepreneurship, specifically marketing. I knew that I wanted to pursue something in the online business space but I also knew I had to tackle it in a different way. I needed to acquire the skills from those who had the experience and success to show me the way. That’s when I discovered what would become a game changer for me

I found the key to success through the FREE Training Videos I am offering you. It was the first point in my online journey and served as a launch point that opened the doors to a training program which provided invaluable mentorship and guidance in navigating the intricacies of online marketing. Through their training and mentoring I was able to lay the foundation for a new and exciting online venture. Armed with the knowledge and technical skills to create an online business I used this skill to build multiple online income streams from e-commerce where I am selling outdoor/fishing products through my own Shopify Store and on Amazon to launching a new and exciting affiliate marketing business where I sell other peoples products and services in the Online Business Learning Space and earn a commission from every sale.

Benefits of Starting an Online Business After 50?

Many people over 50 find themselves at a crossroads in their careers, whether due to retirement, downsizing, or simply seeking a new challenge. Starting an online business at this stage offers several distinct advantages:

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  • Flexibility: Online businesses offer flexibility, allowing you to set your own schedule and work from anywhere with an internet connection. This is particularly appealing for individuals looking to balance work with other commitments such as family or travel. Lets stop here for a second and just think about this!. If you read “My Story” you realize one of my main motivators for pursuing this journey was as a result of my heart attack in 2021. It changed everything for me. I knew I had to find a better way to make a living that provided more control over my time and allowed me the flexibility to work on my terms with an energy and passion that I controlled without the stress of demands placed on me by others. But I digress! I have a tendency to do that when expressing my motivation. You need to ask yourself “what is my motivation?”. Its with a conviction as to WHY that will come the passion, drive and energy necessary to make your online business venture a success!
  • Low Overhead Costs: Compared to traditional brick-and-mortar businesses, online ventures typically require minimal upfront investment. With cloud-based tools and platforms, you can launch and operate a successful online business with relatively low overhead costs. This may differ a little depending on the online business model you decide to pursue. E-Commerce typically will require more up front cost if selling physical products that you either stock and ship yourself or facilitate sales through other online sellers like Amazon. It will require the purchase of stock with the unknown of course of whether it will sell. But there are strategies to help you, allowing you to pick profitable products. One of the paths within the Launch-You Training specifically addresses the E-com business model and teaches you all the techniques you will need to be successful (click the link within this article and sign up for the FREE Videos which will lay out the various options available)
  • Access to Global Markets: The internet knows no geographical boundaries, enabling you to reach customers from around the world with ease. This level of access to global markets presents vast opportunities for growth and expansion. Think of the scaling potential. You are not limited to the confines of a local market like a brick and mortar store. The world is your customer base. This is particularly true with Affiliate Marketing, coaching or selling digital products where unlike physical products the issues of shipping, customs, taxation, etc. can make things more complicated. But not impossible if that’s your dream!
  • Lifelong Learning: Starting an online business later in life provides an excellent opportunity for continued learning and personal growth. Embracing new technologies and business strategies can keep your mind sharp and engaged.

For me personally this has probably been one of the most rewarding aspects. Learning new skills provides a sense of accomplishment, a feeling that you are improving and moving ahead at a time in your life when it can seem like you are standing still. It’s a chance to keep the mind engaged and challenged. I truly believe it can add years to your life!

  • Start While Still Employed: Allows you time to get established and generate income streams while you are still working and preparing for that day when you can finally give your notice. How we all look forward to that! That’s my story through and through. My first ventures into a “side hustle” started in 1993 just as I was starting my Engineering career. For anyone my age that was the days of pre-internet when the only way to reach your customers was newspaper ads and mail order catalogs. Man! I don’t miss those days!. I went digital in 2012 when I started selling through Facebook. Since then I established my first website with wordpress in 2016 and second website with Shopify in 2022. Now I have the second affiliate business started “Online Business Learning” all while holding down a 40 hr/week day job. But! That’s changing. Just recently I gave notice of my intention to retire and will be concentrating on my business full time. So to make a long story short I know what it takes to build a small online business while stilling holding a day job. It is possible but it takes effort and a lot of patience. Only thing I would do different if I had a “do over” would be to acquire the marketing skills needed much earlier. That’s what I came to realize with Launch-You. It has made me realize all the mistakes I’ve made over the years just because I didn’t have the knowledge!
  • No More Answering To A Boss: Wouldn’t that be great! Answer only to yourself. Work when you want to not when others dictate. Not having to limit yourself to 2 weeks vacation at the discretion of your employer but take time for yourself when its best for you. Now that’s a motivator! For me not having to answer to someone else’s priorities was enough.
  • Uncapped Earning Potential: Whether your motivation is just to generate enough income to supplement your retirement so you can travel more or your intention is to replace the income you already have an online business provides an unlimited mechanism to earn income. There is no more “time for money”. Once you have the systems and processes in place how much you earn is limited only by the amount of effort and time you want to exert. Building “multiple income streams” is the key. You are basically pulling multiple levers to generate income “when you want”. It obviously requires a little knowledge and skill but with the proper skill set you can do it. If I can so can you!

Top 5 Profitable Online Businesses for Individuals Over 50

1. E-commerce Store

E-commerce continues to thrive as more consumers turn to online shopping for convenience and accessibility. Whether you’re selling handmade crafts, vintage collectibles, or niche products, an e-commerce store allows you to tap into a global customer base. Platforms like Shopify and Etsy make it easy to set up and manage your online store with minimal technical expertise while others like Amazon provide access to the largest online consumer market where you can sell your own products allowing Amazon to stock and ship on your behalf thus alleviating the hassles of dealing with transportation and consumer complaints.

Another option is drop shipping where you establish a relationship with a “drop ship” supplier and provide the ability for customers to access products through your site where they order and you arrange for products to be shipped directly from the supplier rather than you having to stock and ship yourself. Your profit is the difference between your purchase price from the supplier and the asking price on your site. As you can imagine the overhead is much less as you no longer have to stock your own products and risk getting stuck with inventory if they don’t sell. It does , however, require considerable traffic to be driven to your website with many times Ads being the practical driver for this traffic at an additional expense of course. The other consideration is that many times competition could be considerable in which case margins may be small thus profits small. It is however a great option providing low risk, low initial investment and high potential rewards. Note: I am currently switching my site over to a hybrid model where I will have a combination of drop shipped products as well as my own stocked products to cut down on inventory stock coverage and at the same time provide an extensive selection of inventory.

Global E-Commerce Trend

Some Key Statistics

  • E-Commerce Sales could reach 23% of retail sales worldwide by 2027
  • Post Pandemic has seen an explosion in online shopping worldwide with E-Commerce sales growing exponentially
  • U.S. Retail eCommerce Sales Reached $271.7 Billion in Q3 2023
  • Around 2.77 Billion People Expected to Shop Online by 2025
  • Six Out of Ten Shopping Journeys Start Online
  • In 2023, eCommerce made up 19.5% of global retail sales

Like many other business models it takes time to build momentum by establishing a decent product selection and returning customer base. However, unlike years ago there are automated systems available that can make these processes much easier.

Pros

  • Using a drop shipping model where stock is not purchased up front can be a low overhead cost option
  • Although advertising can involve paid ads to drive traffic to your site there are cheaper options such as posting through social media. For example if using a Shopify platform your store can integrate with Facebook to quickly post products to your facebook page or group to promote and drive traffic
  • Business models such as Amazon FBA provide an excellent alternative and are the choice of many who prefer E-Commerce. Products are sold through Amazon where shipping as well customer interaction (complaints, refunds, etc.) is handled by Amazon itself and at the same time you have access to the huge Amazon marketplace where “ready to purchase” buyers can view and purchase your products
  • Website development today is much easier than it once was where you can create and maintain your websites yourself without the expense of requiring other specialized resources

Cons

  • Startup costs can be substantial if you have your own store stocking and shipping products yourself. Inventory and shipping materials for example all become a part of the cost overhead
  • Drop Shipping models although having low startup and overhead costs will require a high traffic volume to be effective which can be a challenge when first starting out
  • Drop shipping models typically experience lower margins due to higher competition and therefore lower profits
  • Paid Marketing is the most effective method of driving traffic in the shortest time however obviously at a higher cost. Learning to create effective Ads will be a necessity although much simpler today. You can always contarct out others to run your ad campaigns for you as well
  • Maintaining a website will require effort on your part unless you choose to pay others. However, this is not as difficult a task as it once was where platforms like Shopify provide easy plug and play templates to help you create your site and numerous training resources to help you maintain, add products and pricing, etc.

2. Consulting Services

With decades of experience under your belt, consulting can be a lucrative online business venture. Whether you specialize in business, finance, marketing, or any other field, there is a demand for expert advice and guidance. You can offer consulting services on a freelance basis or establish your own consultancy firm to cater to clients worldwide. This is especially relevant for those over 50 where the years of experience you already have can play to your advantage as you market these skills and monetize their value

Pros

  • Control You Work Time – You have full autonomy over how much or how little you work which can provide marked advantages over other traditional business models as it contributes to an ideal work-life balance
  • Financial – There are no limits to the amount of income you can generate. Only limited by your effort and imagination
  • Client Control – You are in full control over the clients you take on
  • Experience – Able to draw on the experience you already have

Cons

  • Inconsistency – Work volume can be inconsistent
  • Stress – With an expected substantial financial investment on the part of the client this type of business can be a stressful alternative maybe at a time in your life when you want to reduce stress and not contriubute to it
  • Financial – Could be significant delays in get payment for your service

3. Online Coaching

Many individuals over 50 have accumulated valuable skills and knowledge throughout their careers, making them ideal candidates for online coaching. Whether you’re an expert in leadership, wellness, career development, or any other area, online coaching allows you to share your expertise and mentor others remotely. Platforms like Zoom and Skype make it easy to conduct virtual coaching sessions from the comfort of your own home. Online coaching can be one of the most profitable business models out there where with initial investment of time and energy to create a webinar based coaching business can be provided to potential clients over and over gneerating income to scale

Pros

  • Profitability – Online Coaching is one of the highest profit margin models out there where depending on your experience and expertise in your field you can expect to demand high rates of return
  • Investment – You can expect to require a minimal investment to get started where a laptop and inexpensive software alternatives can get you started
  • Geographical Freedom – You can work from anywhere in the world. All you need is a laptop and internet connection

Cons

  • Lead – Given that you are typically charging larger $ amounts it may become more difficult and expensive to capture quality leads and convert them into paying customers
  • Scalability – If your desire is one-one coaching then it may be harder to scale your business as “your time” is limited. However if your training is more “webinar” based then the potential is much greater as you create the content once and dsitribute to potential clients in mass. The potential for scale is then enormous

4. Blogging/Vlogging – Affiliate Marketing

If you have a passion for writing or video creation, starting a blog or vlog can be a fulfilling online business venture. Share your insights, experiences, and expertise on a particular topic or niche, and monetize your content through advertising, sponsored partnerships, and affiliate marketing. While building a successful blog or vlog may take time and effort, the potential for passive income and creative expression is limitless.

Affiliate Marketing is when you promote other businesses products through your blog/vlog and earn a commission from any eventual sale. This can be very lucrative especially if you are associated with high ticket offers where commissions can be substantial. Like all other models it requires you to learn various skill sets to become successful. These might include copywriting and vlogging and video editing. But don’t worry. There is an endless list of available training.

Pros

  • Lifestyle Flexability – Affiliate marketing allows a lifestyle of mobility and geographical freedom where all you need is a laptop and internet connection to generate income online
  • Automated Income Streams – Once the systems are establishes income can be generated 24/7 (while you sleep) Nothing better than waking up to check your email and learn you have made money throughout the night!
  • No overhead like E-commerce where you have inventory to sell and can be susceptible to times of the year or changing product demands
  • A chance to learn new skills like copywriting, blogging, vlogging or video editing. These can be transferable to many other industries such as starting your own consulting business and passing what you have learned on to others
  • Financial Rewards – Income is uncapped as you can become an affiliate marketer for a vast array of products limited only by your desire. Compensation can be susbtantial especially if selling “high ticket affiliate products” where commissions can be 100’s or 1000’s of dollars

Cons

  • Commissions – In contrast to high commission products they can be low depending on the products that you are promoting which would mean you need many more of them to generate significant income and where paid advertising might not be an economical method of promotion
  • Competition – With the large number of people joining affiliate programs competition can be significant which makes the choice of being educated and gaining the skills you need that much more important and critical to success
  • Fraudulent Programs – There are many programs available that make unrealistic promises and practice less than professional ethics in promoting their products. Just be wairy and practice your due diligence when representing your product choices.
  • Budget – It will be diffcult to build a business with no marketing budget but with just a small (i.e.$5.00/day) investment you can get traction in your business faster than you think

5. Digital Products Creation

Creating and selling digital products such as e-books, online courses, and software can be a highly profitable online business model. Leverage your expertise to develop valuable digital resources that address specific pain points or interests within your target market. Provide easy-to-use tools for creating, marketing, and selling digital products to a global audience.

Tips for Success in Starting an Online Business After 50

  • Embrace Lifelong Learning: Stay curious and open to new ideas, technologies, and strategies that can help your online business thrive. Keep your mind sharp and show the younger generation that age is not a barrier. Be a role model and a source of inspiration for your children!
  • Focus on Your Strengths: Leverage your years of experience and expertise to carve out a unique niche in the online marketplace. You have value to offer whether you realize it or not. Your years of life and work experience allows you to be in a unique position. What is required is to learn the skills on how to Monetize that experience.
  • Invest in Marketing: Allocate resources towards effective marketing strategies to increase visibility and attract your target audience.
  • Prioritize Work-Life Balance: Maintain a healthy balance between your online business endeavors and personal well-being to prevent burnout. Pace yourself. Remember your definition of success is unique to you and very personal. Maybe all that is needed is for you to earn a little extra income to supplement your existing pension and allow you some beathing room to truly enjoy life on your terms. With a goal of larger financial success requires a larger time and financial commitment. Always keep front of mind: What are you trying to accomplish?!
  • Seek Mentorship: Surround yourself with supportive peers and mentors who can offer guidance and advice based on their own experiences in online entrepreneurship. This was the game changer for me. By leveraging the knowledge and mentorship through Launch-You and those with the expertise put me on the fast track to building my online business. P.S. Are you are an introvert like me and want to do everything yourself?. Get over it! Get the help you need!. It will be literally the difference between success and failure!

Beliefs That Hold Us Back

What is keeping you from acting right now!? What are YOUR limiting beliefs that are preventing you from signing up and checking out the FREE Video Series. Whats preventing you from taking that first step to see “what this online business idea is all about anyway”. I bet I can name a few. I am certain I have experienced them all and continue to battle my fears and anxiety whether its about starting some new training or purchasing the latest software update. In business there are many. That I know for sure. Some common ones always show up!

I am too old!! Nonsense. A larger portion of buinesses are started by those 45 years of age or more than any other demographic. Your age and experience is your greatest asset in this online buisness / digital marketing era. You carry natural authority with your age and its that authority and expertise that will catapolt you forward if you let it rather than be a roadblock. All you need to do is learn the systems that can monetize that skill you already have.

I can’t learn these new technologies. Listen! If you can manage to setup an amazon account, make an order and checkout then you are half way there. But seriously! Its not like 15 years ago when creating a website for example was a major undertaking and required specially skilled individuals. Not so today. Anyone can create a website of their own in a matter of hours. No joking!

Take pleasure in learning these new technologies. It keeps your mind young! At my age anything I can keep young is a must in my book! I imagine you feel the same!

Its a scam. This won’t work for me. Its all “hipe” to take your money. Trust me I heard them all. Look! I get it. There are so many “get rich quick” schemes all over the internet it seems endless. First, if anyone tells you they can “teach you how to build a 6 figure business in 3 months just by using 12 easy steps” just turn and run. Please ignore them. Its not that easy and requires effort and consistent action. What I am saying is that if it requires you to work hard, it doesn’t make guarantees on scale or timing of any possible monetary reward, it demands a level of financial committment proportional to the level of training and mentorship that is being offered and it provides realistic expectations regarding effort and reward then you found a winner.

These are just a few but I’m sure you get the message!

FAQ’s

1. Is it too late to start an online business after 50?

  • Absolutely not! With decades of experience, those over 50 often have a deep understanding of their industry, market trends and customer needs which can place them ahead of the younger generation. What you may lack in technical skill you well make up for in life skill!

2. How much time does it take to see results from an online business?

  • The timeline for success can vary depending on various factors such as niche, marketing efforts, and business model. It’s essential to stay patient and persistent as you build your online presence. This is a long game for most of us although there are plenty of examples in the community of those that gain considerable success in less than 6 months generating a steady income and changing their lives forever. But its not the norma and you must be prepared to be patient and consistent.

3. How much money will I need to start?

  • This is a key question we all ask and one that I personally struggled with for years. Being a person who I would not consider a risk taker and many times an over thinker I held myself back by not treating the financial requirements especially those of education programs as an investment in myself and enhancing my skills. My introvert nature always pushed me in a direction where I thought I could do it myself and paying for training was a waist. Well let me tell you its not!. Its been the single greatest catalyst to moving me in the right direction, in the right way, at the right pace. How much you need to spend will be somewhat impacted by how fast you want to be up and running and how much of the education you are comfortable with on your own or whether you need one on one mentorship. All of these options cost various amounts. In addition to the training depending on the business model you decide to pursue i.e. E-Commerce, Affiliate Marketing etc. will dictate the scale of investment required with E-Commerce (selling your own products) likely being at the top of the scale while Drop Shipping requires very little up front cost other than the cost of a basic Shopify store for example which could be as low as $29.00/month. Affiliate Marketing will require Ad spend budget if you are using a model of driving traffic to your products. This could be as little as a $10.00/day commitment to get you started. So as you see there is no easy answer other than to say its not free and if anyone tells you that gaining the skills to start an online business and getting up and running will cost you 0$ then they are not being truthful. Be realistic about what is required and budget yourself accordingly but again as I said earlier you have to look at it as an investment in yourself. You will always be the better for it!

4. Do I need technical skills to start an online business?

  • While technical skills can be beneficial, many online platforms and tools are user-friendly and require minimal technical expertise. Focus on your strengths and seek assistance or training where needed. All the skills I needed to start my affiliate business at the age of 58 were new to me when I started. There were only a small number of programs I needed to become competent in and with a little perseverance and help from within the Launch-You community I was able to easily become proficient in them in a very short time. Sure it will take time to master these skills but that’s not necessary to get you up and running and generating income

Its also important to note that many of the programs required to get you started have advanced tremendously in recent years to the point where they are much easier for the everyday user today than they use to be and do not require any special technical skills. Website development while once requiring coding and hrs. of labor can now be accomplished in a day by anyone. I’m not kidding! I had my website setup and online in 2 days using the templates and hosting all available from within the program. They make it practically plug & play!

5. What are some common pitfalls to avoid when starting an online business after 50?

  • Common pitfalls include underestimating the time and effort required, neglecting to research your target market, and failing to adapt to changing trends and technologies. Stay informed and proactive to avoid these pitfalls. These are common to anyone starting an online business and not unique to those further along in life. Any business requires attention to the market and knowing the needs of your customer. That’s the fun of it!. If this is not your thing then maybe an online business is not for you. Being realistic about the commitment needed is important to me as there is too much “fluff” on the internet where false promises and unrealistic outcomes are all too common. With effort comes reward. There is nothing free I always say.

6. How can I stay motivated when starting an online business later in life?

  • Now that’s a great question! Its something we all face as there are highs and lows with any new venture. There will be times when you feel discouraged and wonder if its worth it or can I actually gain any traction? I have faced these challenges time and time again in my journey but there are a few techniques that I use that have really helped me
    • Its important to be connected to a group/tribe of like minded people who understand what you are trying to accomplish and face the same challenges. The Launch You Team and members have become my personal motivator time and time again. Just plugging back into the vast training they have available is sometimes enough
    • Define clear long term and short term goals. I lay out my goals each week and for each quarter. Do I reach all of them? Absolutely not! The benefit is in the exercise of laying out a clear plan and working towards it. The sense of control and accomplishment will help you stay on track and increase your motivation. I guarantee it!
    • Become absolutely clear on the “WHY” you are on this journey. Its critical you stay focused on what you are trying to accomplish whether its more financial or time freedom for yourself or flexibility to help out your kids or travel more. These critical drivers are unique to everyone but equally important.
    • Track your progress. Much like what I mentioned earlier I find it beneficial to keep track of my learning progress, take lots of notes, build time lines and tasks in excel or one note for example. There are lots of free programs out there to help keep you organized. Being organized and tracking progress will enhance your sense of accomplishment and help push you through those times when your motivation might be lacking.

Conclusion

Starting an online business after 50 opens a world of possibilities for individuals seeking financial independence, personal fulfillment, and continued growth. By leveraging your experience, expertise, and the power of the internet, you can embark on a rewarding entrepreneurial journey where age not only doesn’t matter but can be a real asset. Whether you’re selling products, offering services, or sharing your knowledge with the world, online business and making money online offers many opportunities for success and fulfillment.

However, like any new venture you have to educate yourself and gain the skills you need. You cannot do this alone! Trust me. I know. I waisted many years “going it alone” not gaining any traction in my business or realizing any significant financial reward. I just seemed to be making myself busier and busier but not really seeing anything to show for it. It became a financial burden adding to the anxiety I already felt. I then made the conscious and determined effort to acquire the training and skills I needed from people who had the experience and found success before me. It wasn’t until I made the pivotal decision to seek guidance and expertise from those who had walked the path before me that everything changed.

The Key? Authority Marketing and the Modern Wealthy Way

The Modern Wealthy Program was a “game changer”for me. It became the starting point for rocketing me years ahead or where I would have been otherwise. It’s not just a program; it’s a transformative experience that provides the mentorship, support, and resources you need to thrive in today’s digital landscape. It provided the mentorship and learning environment where I could progress at my own comfortable pace, where there was a community of support from both mentors as well as others who were striving to reach the same goals as me. It was the piece that I had been missing for all those years prior and I didn’t even realize it. When you are an introvert like me admitting that you need help and you can’t do it all yourself becomes a great hurdle to overcome. But when you do you quickly realize how much time you were waisting and efforts you were expending in the wrong places.

I was exposed to a whole new way of thinking where a vision of having total time freedom, uncapped earning potential, working when and where I choose and with nobody dictating my priorities was clearly laid out in front of me. All I had to do was acquire the skills to build the systems necessary to make it happen. Thats exactly what I did and I haven’t looked back.

Authority Marketing is the backbone strategy behind the program enabling you to join the modern wealthy and make more money in less time, by working smarter not harder. This program empowers you to tap into the lucrative potential of online marketing systems, effortlessly reaching your target audience and maximizing your earning potential. It’s about embracing today’s digital world by leveraging the power of online marketing systems to automate selling any product or service to any target audience anywhere in the world. The steps are laid out in easy to grasp concepts with impeccable instruction and learning techniques where you are able to absorb the content, take action and see immediate results all encompassed in a nurturing enviroment where mentors are there to assist you when needed and other members provide support and encouragement. This is a critical component to the program and one that is not common in other similiar training environments.

Authority Marketing

Its here you might ask; What has it done for you? Well, before I joined the Launch You community I was suffering through my day job. I was tired after 34 years in the traditional workforce of my time being dictated by others doing work that I no longer found fulfilling and not having any clear path forward to retirement that didn’t involve another 10 years working for someone else. I needed to have more control over the time I had left, to do what I wanted! when I wanted! where I wanted! . I needed a plan where I could take an early retirement and supplement my pension by generating income online while doing something that I loved and had a passion for, living life on my terms, leveraging my experience to generate multiple streams of income.

You need to learn the strategies and systems. The FREE Videos I am offering is the entry phase and the first step you need to take to learn the steps needed to implement these systems. It also introduces you to numerous training opportunities where you have options laid out in front of you with various levels of financial and time committment so you know up front what to expect and whether its a good fit for you.

I want to be clear on this as this is “not” a “get rich quick” scheme and can require substantial time and $ committment on your part depending on what you want to achieve and how fast you want to achive it. There are various options available that can meet you where you’re at! It was this committment to a vision of integrity that prompted me to take action and allowed me the confidence to move forward. I wish the same for you. So, if you’re tired of the status quo and crave a life of abundance and autonomy, it’s time to take the leap. Join me on this journey! Sign up for the FREE workshop videos today. It could be the key to providing that security you desire and the means to be financially prepared for your “golden years” and living life the way you always dreamed of.

Have a look and see if its right for you. There is literally no risk to checking it out. It might be the best decision you ever make!

The Top Strategies I Used To Build an E-Commerce and Affiliate Marketing Business From Home

Author: Dale Day

Online Business Learning

“You Are Never Too Old To Try Something New”

Providing guidance, advice, and mentorship to those who are looking to venture into the world of online business and may feel that the digital world has left them behind

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