The New Retirement: 5 Reasons to Start a Side Business


New Side Business Workshop Series - for people on the move

New Side Business Workshop Series – for people on the move

People aged from 28 to 65 are retiring from traditional jobs and turning personal project into a business.  Welcome to the new retirement of the 21st century. According to StartUp Canada, over 1 million small businesses in Canada contribute 30% of our national GDP. Economic volatility is creating a new nation of entrepreneurs who are betting on work independence over economic turbulence.

This is not surprising. Most of us have a private ambition to succeed at our own thing. Think of it. The top best selling non fiction book of all times is Napoleon Hill’s business and personal development book Think and Grow Rich with 70 million copies sold. Do we have 70 million businesses in the world? No. Why? Some are not quite ready to give up the day job and start a new business. Others are not quite sure where to start.

Enter the Lean Start-up movement: “Why the Lean Start-up Changes Everything“. Basically, the Lean Start-Up is about quickly getting a business off the ground, testing it, getting feedback, adjusting and growing. No more 5 year business plans and guess work. In addition, the digital economy is now serving up inexpensive, powerful yet simple personal technology and apps.

Here are my 5 reasons why you should start a side business now:

1. Digital Revolution: It has never been easier to start your own small business using the web and personal technology.

2. Tax advantages: Deduct expenses related to your side business. For example, deduct your new iPad if you are using it in your side business. How about that cell phone? What about that trip? Any chance you can mix business with pleasure?

3. Work from anywhere: In the past, setting up a new business was complicated by commercial rental space. Today, you can work out of your garage or dining room under a professional digital space where your prospective clients can check you out, for less than the cost of one month’s rent (of course, this is not applicable if you run a small manufacturing plant).

4. No more office politics: Have you heard how “Narcissists, psychopaths dominate office politics”? You can’t compete with that.

5. The economic outlook for 2013 looks uncertain: Don’t trust the company store for your future pay checks.

The # 1 reason why the majority fail to convert know-how or passion into a side business is because we don’t know where to start. In the next few weeks, I will be launching a Side Business Saturday Workshop in many locations across Ontario. This Saturday Workshop series is for people who have this desire to launch a side business and work differently. Stay tuned and sign up at the end of this post if you want to be to be notified of dates and locations.

One of the best ways to start your own side business is to learn in a live workshop. In a workshop, you can learn by doing, by listening to others, and asking all your questions. Most importantly, you have a mentor and coach to guide you along the way.

In the last few years, I learned the modern principles of doing business in this digital economy. I build my own firm with virtual offices in Canada. I avoided expensive rents, and executive MBA tuition fees. I spent time building real businesses with people like you. I could have never learned the new principles of modern business for the 21st century without my digital business resources like David Risley at Blog Marketing Academy and the Fizzle community. I saved $75,000 of executive MBA fees by learning from Generation Millennium.

If you want to build a minimum viable business and launch a “lean start-up”, you actually have to do it, with small incremental steps. Thinking about it will never be enough. The future of work is about adapting to change and succeeding. The future of your work could be your side business of today. Now go and start something. The new wealth is about having options.

Sign up below to get the updates on the next dates and locations of my Side Business Workshop Series