Retirement Entrepreneurs Blog

Comments, rants and tips on baby boomer small business ideas
and working after retirement.

Author: Ingvar - Retiree In Training  

Working after retirement

Of course your retirement business should be "Part-Time". You are retired from your day job. Why would you want to go back to the grind of a full time job? Keep in mind, if your business is so much fun and exiting that the hours just vanish into thin air - it's OK. Then it's a life style.

What is part-time to you? 10 hours a week? 20? This should be part of your initial planning. How many hours do you expect to work at the business? In a retail show it is the opening hours + back-office stuff. Which can add up really fast. Unless you are big enough to have staff. Still.. retail is traditionally brutal time eaters.

Running a business part-time depends on help from others. Perhaps from family and friends. Or hired help. It is better to ask for help than hurting relationships by working night and day. If you have a business plan that will need a full time commitment from you - think about how you could pawn some of the work away. And calculate how much that would affect your bottom line.

You have to know, or learn how to manage your time effectively. This can't be overstated enough. If you wish to only work 20 hours a week - and stick to it - you better make those 20 hours work for you. You might consider hiring virtual assistant to help you with tasks that you are not necessarily fond of doing. Or that you don't do well. Like bookkeeping.

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