The Rise of the ‘eSeniorpreneur’

Contrary to popular belief, starting an online business is not just for young people. Many ‘eSeniorpreneurs’ are successfully entering the digital world, curating online content, building smartphone Apps, ecommerce enterprises and other technology-based business activities.

Content Curation Sites
Valuable information resources are being built online by retirees. These content curation sites are created by seniors with an interest in a particular topic, and traffic on the site is targeted towards a set of products that are relevant to the content being presented. Such sites can become thought leaders in their field, which are visited regularly by businesses and individuals who share that area of interest. The brand featured on the site benefits from a thought leadership position, and by getting sales from site visitors who turn into customers.

Online Consultancy and Coaching
Experience is a great asset, and senior people will have garnered a wealth of knowledge and contacts throughout their working lives. For this reason, many seniors start operating online in the fields such as: consulting, teaching, training, tutoring and coaching younger entrepreneurs and other business people. Conducting such a business online enables eSeniorpreneurs to engage with clients on a global client base.

Starting a Digital Agency
Many seniors who have acquired technological skills during their careers put these skills to work for small business clients who need websites, smartphone Apps, social media management, and design work. Assistance can be sought from local youngsters or family members who can bring their laptops to your office and be paid as freelancers on a project basis.

Maintain Your Health
Some physical activity is good for maintaining senior health, both physical and mental, but too much strenuous work can cause injuries and health problems. If something heavy needs lifting, like a computer server, a personal computer, or a desk, eSeniorpreneurs should ask younger people to do it. Avoid hurting yourself as injuries take longer to heal in the senior years.

Manage Your Money
Look after the financial side of your business. There are many online tools that can help. For example, the Solo Expenses Manager smartphone App enables you to easily capture and manage your business expenses from your mobile device, which makes it easy to track your outgoings and focus in on your business profits.

Tax Implications
While on the subject of money, it is advisable for senior entrepreneurs to get good financial advice, to take account of the tax implications on other sources of income such as pensions.

Vital information
Keeping informed of issues, finding resources, and building your peripheral knowledge are just as important as actually running your business in retirement. Seek out valuable information resources for seniors in business to refer to on a regular basis. Maintain a network of colleagues, advisors and mentors who will be happy to give you the benefit of their experience when difficult issues arise. Such networks work well because you are likely to be able to return the favour in the future.

Benefits of a Family Business
One of the most satisfying aspects of eSeniorpreneur activities is the ability to be able to give paid work to family members who may be having difficulty finding a job, perhaps because they are too inexperienced to find satisfactory employment in the current market. Working with family members can result in a stronger, more resilient business than with non-family staff. People in a family business are more likely to volunteer to pull together and do unpaid work to keep the business going and make it a success.

Leaving a Good Legacy
There is tremendous satisfaction in seeing an online business develop and become more successful, especially one created by a senior entrepreneur. Future generations of your family and your online communities will be able to remember when it started and admire your achievement. It may be on a small scale or a large scale but it will be a legacy that you created yourself.

Jessica Walter – Guest Blogger
As a freelance business and finance writer, Jessica has teamed up with a small senior care advice and resource site to develop a guide on how to set up a business as a senior citizen, including considerations, practical help, and available resources.