When formulating my list of 5 online home business ideas for seniors I decided to focus on 6 questions.
1. Is it Internet based?
2. Does it have low start up costs?
3. Will you enjoy it?
4. Can it be run part time?
5. Is your schedule flexible schedule?
6. Can you make money?
If you can find a home business opportunity where you can answer yes to all of these questions, or as many as possible, I think you have the makings a good business idea for seniors.
We will look into these six a little more in depth and give you exact business ideas including home business programs and products that can be sold online. Why have an online home business idea if you have to go offline to run it, right! 🙂
Let’s get started…..
I guess this is somewhat contradictory in terms of a home business because an Internet based business can be run anywhere you have an Internet connection. All you really need is your computer or smartphone to run it.
Seniors like to travel. How do you do that if you have a lawn care business, or painting business, or any business that requires you to show up in person?
Home based businesses where you are the owner/boss will work if you have a trustworthy person in charge. You can still travel and use your phone or Skype to run it.
However, let me say from personal experience having a business that is 100% based online just can not be beat. You are always in business 24 hours a day, 7 days a week, 52 weeks a year.
Your business never closes when it is Internet based. I love that for anybody and everybody, but especially for seniors.
Low Start Up Costs
When you get to be our age you start a business out of need or desire. Maybe both.
If you need to make more money in retirement then starting a business with low start up costs is critical. If you want to make more money to supplement your retirement, or impending retirement, getting started with little out of pocket expense is important as well.
Every dollar you spend on your business getting started is going to come from somewhere. It might be savings, out of a social security check, putting it on a credit card, taking out a loan and so on.
I have found the lower your start up costs are the more you will make good growth business decisions. You do what it takes to get your business off the ground without cutting corners based on cost.
I will show you many different online home business ideas baby boomers can start for under $100, under $500, or even under $1000. You can start a business without going into debt which increases your odds for quick success even more.
Something You Enjoy
Is this even important for a seniors to make money online? I personally think it is and I will tell you why.
This is your new business. Ask yourself this question: “Would I still get up and do this if I were not get paid”?
Let’s say you are going to live for another 20-30 years and you want to run your home business part time for as long as can.
How long would you stick with it if it were not any fun? When I went full time online I thought of it as the 30 second commute.
I would grab a cup of coffee and could hardly wait to get to my home office turn my computer on. Everything was new and exciting in the world of Internet marketing.
I would start a blank sheet of paper for a new month and write down how much money I made each day. This kept me motivated to make even more.
What I soon found out was on days when I did not make any money, or weeks where I didn’t make much, I still woke up everyday excited to sit down and promote my blog.
That is the enthusiasm you want for whatever home business you decide to start. If you do not love the product at least love the niche you are in.
If you do not love the business opportunity get into something different. With all of the business models to choose from, and all of the niches to be in, you can quickly find one that you can not wait to promote everyday!
Part Time Hours
For most of us seniors part time is important. We are not looking for another job.
If you are young enough maybe you are looking to quit your job and start another one. Certainly a home business could offer you that.
However, I would suggest starting a business you can run part time that provides full time income. Then maybe you work harder on some days and not as much on others.
There is something liberating about working a couple of hours and knocking off the rest of the day to go do something else.
I know that blogging here in Bizzy Seniors is nice because I blog when I want and do not when I don’t feel like it.
I can handle emails in the morning and take the rest of the day off. Set email on vacation mode, or even outsource it to a part time virtual assistant.
Part time hours are nice if you find yourself getting tired like I do. I wear out faster and when I am done I am done. You can not do that will a full time job or a full time home business.
Another great thing about having an online business at home is the flexibility it offers. I know people who like to work at night in the early morning hours and sleep until noon.
Personally I like to get up around 6:00 and work until 8:00-9:00 and then go do something else. I also like to do research on my smartphone and can look at it anytime I want.
This is the flexibility an online business can provide. You are not running an 8:00-5:00 business or store.
An online business is always open even when you are not working it. You can not beat it!
The very idea of having a business should imply that you are profitable. For many seniors this is a foreign concept. In your career you may not have to worry about the bottom line.
Now you do. You are responsible for your own success and failure!
I would suggest you have an income goal in mind when you start. Are you doing this to supplement your retirement, replace your current income, or maybe just to pay a few bills so you have more money then month and not the opposite.
I’ve always loved the making money part of Internet marketing. For me setting a goal of making $100 a day after expenses was what motivated me.
Maybe you would like to earn an extra $200 a month, $500 a month, $1000 a month, or more. I can tell you there are people earning $5K-$10K a month and doing it part time with a flexible schedule.
Dream big if you dare!
Nuts & Bolts Of An Online Home Business
OK seniors I am going to show you how simple this can be. Then we will talk about specific ways to make money, business models, product sources, and so on.
Here are the 5 things I think are a must for your new home business.
1. Domain name.
2. Website hosting.
4. Marketing for your new website.
5. Email autoresponder. (optional)
I want to throw out Wealthy Affiliate right now as a way to get started with all 5 of these in one place.
You can buy a domain name, host it, find millions of products to sell, or other ways to make money, and learn how to promote it at Wealthy Affiliate. Plus they have a community and customer support team that is very responsive so you are in business for yourself, but not by yourself.
Join Wealthy Affiliate for free. They give you 2 free websites to get started with.
Buy a domain name for $14. Host your new website for free with WA.
Market it on social media. Start a blog and open a free You Tube account.
I suggest building an email list so you will need an autoresponder. Mail Chimp is a free tool for the first 2000 subscribers.
The training focuses on affiliate marketing, but I have found a lot of what you learn can be applied to any business model.
What is a business model?
By the way a business model is the products you sell, the market you sell them to, and how you will promote them.
Examples of business models include affiliate marketing, network marketing, email marketing, information blog, ecommerce, and more I can not think of right now. 🙂
Most of the time your online home business will be a combination if these, but they do not have to.
I know of people earning a few thousand a month promoting one website with nothing more then a business card with a website on it. You can do this with affiliate marketing and network marketing using the website the company you are in gives you.
This is not my preferred method. I like hosting you own website with your own domain name and autoresponder. Use Affiliate marketing as the source for products and income.
In the case of Bizzy Seniors we promote Wealthy Affiliate and earn $23.50 a month in residual income for every active premium member. We blog and make money selling ads on blog posts as well as with affiliate ads such as Google AdSense.
This is the business model we are in. You can choose others as I am going to lay out now.
Six of the best online home business ideas for baby boomers right now!
1. eCommerce With Shopify. Shоріfу іѕ a соmрlеtе соmmеrсе platform that lеtѕ уоu start, grow, аnd mаnаgе a buѕіnеѕѕ. Create аnd customize an оnlіnе store.
Sеll іn multiple рlасеѕ, іnсludіng wеb, mоbіlе, social media, оnlіnе mаrkеtрlасеѕ, brісk-аnd-mоrtаr locations, and рор-uр shops. Manage рrоduсtѕ, inventory, рауmеntѕ, аnd shipping.
2. Fulfillment By Amazon (FBA) іѕ аn e-commerce ѕеrvісе in which thіrd-раrtу vendors store their рrоduсtѕ іn Amаzоn’ѕ fulfillment сеntеrѕ. Thе е-соmmеrсе giant thеn picks, ѕоrtѕ, расkѕ, ѕhірѕ, trасkѕ аnd hаndlеѕ rеturnѕ аnd refunds for thеѕе рrоduсtѕ.
3. Angels + Entrepreneurs Network. Thе Angеlѕ & Entrерrеnеurѕ Nеtwоrk is the fіrѕt оf іtѕ kind – showing grоund-flооr орроrtunіtіеѕ into ѕоmе оf thе wоrld’ѕ hоttеѕt ѕtаrtuрѕ аnd trеndіеѕt еntеrрrіѕеѕ, thоѕе determined tо сhаngе thе wоrld… аnd ѕhоw іnvеѕtоrѕ hugе рrоfіtѕ along thе way. Watch the video here.
4. Display Advertising. This is what we are building Bizzy Boomers towards using Google AdSense and other display ad affiliate programs.
Build a blog using longtail keywords. Create high quality content that Google will love and rank for those keywords. Get free traffic from the rankings. People will click on the ads. Google sells the ads and pays 68% of the click back to you as the blog owner.
Jon Dykstra is the best at using this business model and teaching it. Check out his blog and take his Residual Display Ads Profits training.
5. Wealthy Affiliate. A frее tо join trаіnіng program fоr аffіlіаtе mаrkеtіng. Wе all hаvе a hоbbу or something that gеtѕ uѕ еxсіtеd аnd mоtіvаtеd when wе thіnk аbоut іt.
It only tаkеѕ one іdеа to сrеаtе a vеrу ѕuссеѕѕful buѕіnеѕѕ оnlіnе. Don’t hаvе any ideas? Nо рrоblеm, Wealthy Affiliate wіll hеlр уоu choose a dіrесtіоn of уоur buѕіnеѕѕ frоm over 1,000,000 dіffеrеnt niches. Bizzy Seniors is a member.
Summary: Online Home Business Ideas For Baby Boomers
These are 5 of the best online home business ideas for baby boomers in our opinion. They include ecommerce, drop shipping, investing, and affiliate marketing.
– eCommerce using Shopify.
– Dropshipping with Amazon.
– Investing with Angels + Entrepreneurs.
– Display ad profits with Jon Dykstra
– Affiliate marketing with Wealthy Affiliate.
You can not go wrong with any of these business models and companies. Do some research on your own. Take this serious because having your own successful online home business is within reach of any senior who is willing to go for it!
Related Video: Home Based Business Ideas For Seniors – My Top 5 Ways To Make Money From Home