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If you’re a senior/baby boomer and you’re still trying to decide what business to join or what business model to follow online, you’re in the right place! In today’s post I will talk about the 4 criteria that you should look for in an online business. I know tens, if not hundreds of seniors & retired people that are super successful online. Having an online business is for them both a hobby and a very significant addition to their pension (usually it’s multiple times larger). I want to help you make the right choice – so pay attention and let’s get started!
Rule Number One – The business provides all the necessary training, step-by-step material and coaching.
This is crucial! Not just for seniors of course, but from my experience, they are usually the ones that benefit the most from all the training as they are smart and they know how important it is to “do your homework” and at least learn the fundamentals of the business before “jumping in”. As Warren Buffet says:
The more you learn, the more you earn.
A perfect business opportunity is one where you’re provided with training material, videos, step-by-step blueprints and preferably a coach to help you along the way. Then all you need to do is follow the steps, stay in touch with your coach and let him guide you.
Why is this especially important for seniors? Because it usually takes them more time to research & learn things on their own, but once they have a plan to follow – nobody can beat them at being consistent and following everything step by step!
Rule Number Two – The business model is nothing “brand new”. It’s tested and proven over at least a few years.
Quick example – a few years ago there was a lot of hype around building “micro niche sites”. These were tiny, 3-5 page websites built around certain very niche-specific keywords. Their goal was to easily rank in Google and pull in just $5 or $10 in profit per day. Then, you went out and built tens or even hundreds of these sites.
It lasted about a year – and then Google said “Enough!”. You can only imagine how people who have invested thousands of dollars into building these sites, hoping to make back their investment in a few months, felt. That’s because they were following the “latest and most popular” model, not a proven, time-tested one like…
Affiliate marketing! It’s been around since the beginning of Internet Marketing and it will never go away as the fundamentals of Affiliate Marketing are the very fundamentals of Internet Marketing. Of course there are various affiliate marketing styles or models – my favorite (by far!) is Top Tier. If you’re interested, check out my “Work With Jan” page for some extra information.
Rule Number Three – The business you’re about to join has been around for a long time.
Of course a “long time” on the internet isn’t tens or hundreds of years… but if a business that you want to join has been around for at least, let’s say, 3 years – it’s probably a good bet! Bad businesses disappear in a matter of months, sometimes weeks. This is a bit similar to Rule #2, however even if a business (model) passes that rule, it might not pass #3 – for example, just because a business is based on the affiliate marketing model doesn’t automatically make it great!
Rule Number Four – You can see yourself enjoying the business.
This is really important! As a senior or retired person, one of your expectations with your online business is almost certainly – to have a fun hobby (that you also benefit from)! Steve Jobs said it best:
“To do great things, you have to love what you do!”
Because if you don’t enjoy working on your business, any roadblocks that you encounter on your journey will double or triple in size. If you don’t love what you do, you will quit. I love what I do. I produce content that helps people achieve their dream of making a stable, full-time income online as fast as possible – just like I did. I don’t know exactly why I like doing this – but I just do!
So always ask yourself – is this something that I actually want to do? Would I do this for free?
If the answer is yes and the business model passed the 3 previous rules – by any means, go for it!