Over 50s Lifestyle

How To Start a Home Business When You’re In Your Fabulous 50’s and Beyond

October 12, 2022

Have you ever considered starting a little business from home? But did you keep putting this idea on the backburner because ‘life’ just kept getting in the way?

Even if you’ve never thought about starting a small business from home, then let me try and persuade you that now, yes now at the age of 50+, is the BEST time to start a home-based business.

Why Start a Home Business Aged 50+?

Of course there are many reasons why starting a home business in your 50’s is the best time, and all reasons are individual to us, but let me break it down into the five main reasons:

#1 Menopause at Work

I think that we can all agree that menopause has become a problem in our lives, especially in the work place.

Why not set yourself a new project to start a little business from home with the intention to eventually hand in your notice at work, and then work your business around your menopause symptoms?

Honestly, it can be done.

#2 Semi-Retire

Are you wanting to semi-retire soon? I know that this was one of my main reasons to start my home business at 51.

There are many home businesses where you can earn a full-time income from only working part-time hours, for example:

  • Proofreading
  • Blogging
  • Freelance writing

And the good news is that you don’t have to be a professionally trained proofreader or freelance writer, you can simply learn on the job.

#3 Fill an Empty Nest

Having your children grow up and not needing you (as much) is heart wrenching. Although you know it’s going to come, it just seems to spring up on you out of nowhere – you feel unprepared.

So fill that empty nest with a new and exciting home business project. You don’t have to put a load of pressure on yourself to be the next big business woman, just get started and see where it takes you.

#4 Keep Your Brain Fit & Healthy

We all talk about how important it is to be fit & healthy in our 50’s, and quite rightly so, but we also need to keep our mind fit & healthy too.

So instead of doing crossword puzzles each day to keep your brain active, why not do some tasks each day to work towards starting your little home business!

#5 Experience and Wisdom

And lastly, you have so much experience and wisdom at 50+ why keep it all to yourself? 

You could easily package up some of that experience, knowledge and wisdom which you’ve collected over the years and literally sell it. 

How?

You could create and sell an ebook, an online course, become a coach, run a blog, run a YouTube channel, there are many ways to make money with your knowledge.

The Very First Thing To Do

Once you’ve decided to start a home business; you need to get into the right mindset in knowing that you can do this. This is really important as it’s very difficult to reach any goal if you don’t believe you can achieve it.

So you’ll have to do some (or a lot) of personal development work to start believing that you can actually start a home business and make a success of it.

There are many different ways to change your mindset such as affirmations, journaling, EFT (emotional freedom technique) and NLP (neuro linguistic programming).

We are all different and will choose different methods, so do some research (Googling!) and find a method which suits you.

Do a Deep-Dive Self-Assessment

When you decide how much personal development work you need to do, it’s time to do a self-assessment.

It’s imperative that you do a self-assessment as you need to know for sure what type of home business will be suited to you and the lifestyle you want to live, especially now that you’re in your 50s.

It’s no good starting a business because you’ve seen others making $xxx amount of money with a certain business and they love running it. This is the wrong way to choose a home business for yourself because these other people probably…

  • Have a different personality to you.
  • Lead a different lifestyle to you.
  • Have different life and business goals.

I’m speaking from personal experience when I say this; as I’ve started a couple of home businesses purely based on seeing other peoples’ success. However I found out the hard way that although it was successful for those people, it was not successful for me as I simply did not enjoy those particular business models.

You must choose a business which is suited to you and a one which you will enjoy. If you don’t enjoy running your home business then it will never be as successful as it potentially could be.

Self-Assessment – Business Ideas Match-Up

When you’ve done a deep self-assessment, it’s time to match it up with some business ideas. So make a list of all the different types of home business ideas that you know about, and keep adding to that list whilst doing some online research.

When you have a list of home business ideas, in a variety of niches and a variety of business models, it’s time to match them up with your self-assessment.

What you’re looking for are business ideas that match all the ‘tick’ boxes in your self assessment. In other words, all the boxes that show what you like and what you would like to do, and disregard the boxes which are stating what you don’t like and wouldn’t like to do.

For example, if your self-assessment identifies that you’re a shy person, you’re not really a natural ‘mixer’, and you also suffer from quite serious menopause symptoms, then you should probably avoid home businesses where you have to be very sociable and have to adhere to strict deadlines, or having to turn up to provide a service to clients.

Instead, you could do something which requires a more ‘passive’ approach such as running an ecommerce store or blogging.

The Next Step

Once you’ve identified your dream home business idea, then it’s time to start creating your informal business plan. I say informal business plan because this is purely for you and will act as your roadmap to get your new business off the ground and to start making sales.

About The Author – Meet Claire


Claire Bullerwell is the creator of the Her Dream Business blog where she helps other women aged 50+ to find and start their dream home business. You can get Claire’s free 5-day email course “7 Things You Can Do Right Now To Start Planning Your Dream Home Business.”

Sue Loncaric

Women Living Well After 50

Living Life Your Way

3 Comments

  • Reply Deborah October 12, 2022 at 10:11

    Thanks for sharing Sue and Claire. I tried my hand at doing some freelancing – writing, blogging and editing when I first made my seachange but really needed more of an income to prop me up (no partner so had bills etc). I eventually did okay refocussing on my project management skills but ultimately longed for security so went back into the workforce.

    That being said, when I do retire (hopefully at 60) I wouldn’t mind looking at trying some freelancing again in the hope of supplementing my superannuation payments.

    • Reply Sue Loncaric October 27, 2022 at 12:41

      Hi Deb, I think it is great to have skills that can translate in our ‘third age’. Staying engaged is important in retirement and I think that having a small business keeps you motivated and also brings in a little extra income to enjoy retirement. x

  • Reply Retirement Reflections October 13, 2022 at 09:03

    Hi, Claire and Sue – Thank you for sharing these great ideas here. Many of them I had never considered. Great food for thought!

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