5 Top Things Baby Boomers Must Do Before Starting A Home Business

5 Top Things Baby Boomers Must Do Before Starting A Home Business



5 Top Things Baby Boomers Must Do Before Starting a​ Home Business
Dont quit your day job just yet. ​
if ​ you are a​ baby boomer looking to​ start a​ home business,​ there are 5 essentials things you must do first before starting your home business. ​

Leaving the​ security of​ a​ job with established 401k plans,​ health insurance or​ other benefits can create a​ real tug of​ war for baby boomers who want to​ pursue their dreams of​ owning their own business. ​

Analyze Your Exit Strategy
At the​ time of​ this writing,​ the​ youngest of​ the​ baby boomers are turning 42 and​ the​ oldest are turning 60. ​
No matter where you fall into this group,​ analyzing and​ preparing your exit strategy from your job will be crucial to​ your longterm success as​ a​ home business entrepreneur. ​

Create a​ Financial Plan
How much is​ your salary now? What are your fixed,​ variable and​ frivilous expenses? Creating a​ solid plan so that you and​ your family will know exactly what the​ financial picture will be until your business gets off the​ ground. ​

Choosing a​ Business Model and​ Legal Entity
There are several business models to​ choose from; home party plans,​ consulting,​ and​ affiliate marketing to​ name a​ few. ​
Choosing a​ legal entity for your business should be discussed with a​ tax accountant or​ your attorney. ​

Set Business Benchmarks
You wouldnt travel across the​ country without a​ road map,​ your business is​ the​ same. ​
Setting benchmarks will help you to​ create a​ focused plan that will help you to​ reach your success. ​

Get a​ Physical
What does getting a​ physical have to​ do with your business? Once you leave your job,​ most likely your health insurance will change. ​
While pursuing your dreams of​ a​ home business is​ something you are probably very passionate about,​ it​ you do not have good health to​ enjoy the​ rewards of​ your efforts,​ then not much else is​ important. ​

The baby boomer generation is​ like no other before it​ or​ after it. ​
Technically,​ we​ are considered middleaged,​ but we​ are anything but middleaged in​ mind,​ body and​ spirit. ​
We know there is​ more meaning to​ life than a​ commute to​ an unrewarding 95 job,​ but there are also important steps we​ must take first.




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