Economy & Society

4 Principles for Success in Startups After Retirement

More people quit than start-ups, the survey showed. That's how many people go down. In particular, baby boomers in their 50s are starting to start their livelihood after retirement, but often fail to survive amid excessive competition. After retirement, most of the funds will be poured into start-ups and if they fail to get loans, they could fall into the And this poses a great risk to old age. What should we do to succeed in starting a business after retirement? I propose four principles from an expert's point of view.

First, we need to find an area of experience. The types of self-employed businesses that many salaried workers choose after retirement are chicken shops, cafes and franchise bakeries. This is because the initial capital is relatively smaller than the others and is possible without big technology. However, if he worked for large companies and small and medium-sized enterprises for 10 to 30 years during his social life, his experience in ordinary office jobs is hard to use right away. It's also more likely to fail because it's not the field that we've been doing.    

Then what should We do? For example, it is recommended that anyone with experience in the financial industry look for financial-related businesses after retirement. The financial industry is now growing, so there is a high possibility of development. Also, continuous use of decades of financial career without severing it is of great help to society as well. If he chooses a field that can revive his expertise and starts a business by identifying what he is used to and can do well, he will be able to succeed without much risk.

Second, you have to be fully prepared. Many jump into the start-up market with retirement benefits without sufficient preparation for the start-up. However, due to the recession and excessive competition, the "grand house" that start-ups dream of is really few and the majority becomes a "jackpot." You need to be fully prepared before you start your own business. Whether the industry is changing, how it is, and whether it will be independent or not, must be thoroughly analyzed and agonized several years before retirement. After retirement, if you rush to work or just trust others, you end up failing. You should check with your own eyes and make thorough preparations with confidence in the industry.

Third, you have to go back to the beginning. When you start your job, you have to discard your old memories of "I've even been an executive" and "I've even been a business manager." Because part-time jobs and unpaid bills are good for the areas where you want to work, you must work in the industry and gain experience. Rather than starting from scratch as president, he should gain experience with what basic knowledge and competence are necessary in the field and return to the spirit of early social life.

Fourth, we should cooperate rather than compete with young people. Recently, people in their 20s and 30s have been knocking on their doors to start-ups. They are attracting people's attention with their eyeballs and fashions. It is not easy to compete with talented young people in many ways. Rather than competing with young people, they should work together to achieve shared growth. Retired people have experience and young people have passion. If the two are together, it will create a great synergy.

Many people go hiking or stay at home after failing to get a job or start a business after retirement. But they are people with experience and wisdom in our society and there are still so many things to do. They should prevent their careers from being cut off and make use of their existing careers to prepare a career system that can lead to their own industry.

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Margnmul.com is a global internet playground for people between the ages of 40 and 100 (middle-aged to old age) who have passion and desire in life living. It is a global internet playground that shares various themes such as life experience, post-retirement life, entertainment, family, health, education, and various things to learn.

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