There’s no denying the fact that we live in a fast-paced world and the cost of living has skyrocketed globally.
Seniors in their golden years may feel like the world is just speeding past them. To a large extent, this is true.
Even younger people are starting to feel disenfranchised because of the complexity of the world we live in and the never-ending increase in prices of the goods/services we buy.
If you’re a senior hoping to supplement your pension to make ends meet, you may have considered building an online business.
But this can seem like a huge step outside one’s comfort zone!
From facing the unique hurdles in the ever-evolving digital marketing space to juggling business costs on a tight budget… to figuring out tech that seems to change daily, saying that things can get overwhelming is an understatement.
* But it’s possible!
There are thousands of seniors making anywhere from 4 to 6 figures monthly by excelling in various online business models such as Kindle publishing, affiliate marketing, ecommerce and so on.
The truth is that if the young people can do it… so can the seniors.
The good news is that seniors have more life experience and this can prove useful in building a profitable business online.
Generally, there are 7 common obstacles that most seniors will face when they’re starting out. But with a bit of know-how and some simple strategies, you can overcome these obstacles and thrive in the online marketing world.
Let’s dive in!
1. Limiting Beliefs
This is the biggest obstacle that you’ll need to overcome – and it can literally be done in minutes just by shifting your mindset.
Many seniors may feel intimidated, apprehensive, or reluctant to start an online business because their limiting beliefs are holding them back.
These are a few common thoughts that may pop up in their minds…
Here’s a more engaging version:
* “I didn’t grow up with computers and all this tech. How am I supposed to keep up with everything when it changes every five minutes?”
* “What if I pour my time and money into this, and it doesn’t go anywhere? I can’t afford to take big risks like I could back in the day.”
* “I’ve always done things the old-fashioned way. Can I really jump into something new at my age and make it work?”
The answer is that it’s possible. You can master the tech challenges, your efforts can reap immense financial rewards… and most importantly, it doesn’t matter how old you are.
You can do it!
Repeat this to yourself several times daily until you believe it. Remember, other seniors have thriving businesses online. You can too.
2. Tight Budget
Having a tight budget will mean that you need to choose a business model that suitable for your budget. It’s difficult to ascertain in this article what a tight budget is because different seniors have different needs.
The good news is that building an online business (depending on the model you choose) can be relatively low cost.
So don’t let this issue get you down. It’s not about resources, but resourcefulness.
In fact, there’s a fantastic platform called Systeme.io which you can use to build an online business with less than $10 (if you buy a domain name which is optional).
There are NO excuses these days for you not to get started.
3. Low Energy/Health Issues
All motivational talk aside, low energy and health issues are part and parcel of the aging process. But we must make do with what we can, where we are.
Monitor your energy levels throughout the day. When are you most fresh and mentally active?
If it’s in the morning, do all your online work then. Time yourself and take breaks when necessary. Stop when you’re tired, but take note of how long you spent working.
You’ll want to try and increase the duration by a minute daily. This will build your mental stamina.
If you can work for 4 hours a day – in two 2-hour blocks, you can build a thriving online business.
You don’t need to work 8-9 hours a day like you would at a traditional job. 4 hours of focused work on what matters will transform your business and your life.
As for your health issues, depending on what they are, try and find ways to work around them. These issues are so varied and only you’ll know what you need to do to help yourself.
There’s absolutely no denying that some people have it harder and some health issues can be so detrimental that all you may be able to do is just one hour of work a day.
That’s ok… as long as you put in that hour. It’ll take longer to profit, but you’ll get there.
4. Time Constraints
As a senior, you’re probably retired… or maybe you have a part-time job.
Assess your daily activities and see where you can free up time to work on your business.
In some cases, it may mean giving up on your hobbies or TV time for a while. Rest assured, your sacrifices will bear fruit in the future and your efforts will reap rewards.
Once your business is doing well, you’ll have more time for the activities you love. So plan your day well and dedicate as much time as you can for your business daily.
5. Which Business Model to Choose?
This is a MAJOR obstacle and it’s one that so many seniors get tripped up by. The business model you choose must be suitable for your budget.
Choosing the wrong business model will not only cause immense stress but also set you up for failure.
What does that mean?
It means that if you’re on a tight budget, you’ll want to avoid business models such as eCommerce, creating SaaS (Software as a Service) products, domaining, drop servicing, etc. These are NOT business models you’ll want to try.
It’s best to steer clear of anything that requires buying inventory, running ads, or making speculative purchases if you’re working with limited funds. Keep your focus on low-cost, high-reward options that don’t drain your cash flow.
You’re better off with one of these business models:
* Affiliate marketing
* Freelancing
* Niche sites (blogging)
* Infoproduct creation
* YouTube automation
* Print On Demand
* Providing VA services
6. Overwhelming Information
It’s very easy to get overwhelmed by all the emails, training, lead magnets, etc. that you’ll inevitably come across as you progress through your online journey.
The best way to avoid drowning in the information will be to:
* Only focus on information that concerns the business model you choose
* Unsubscribe from all marketing lists besides those specific to your business
* Avoid buying new products that are not related to your business
* Only go on YouTube or other sites for information that concerns your business model
You must be laser-focused on your business model and have blinders on for everything.
Focus more on action rather than trying to learn as much as you can. You’ll learn more by doing than by absorbing theory like a sponge.
Your motto should be… “Learn a bit, do a bit. Rinse and repeat!”
Gradually, you’ll build a business step-by-step instead of being overwhelmed with information but not having anything to show for it.
7. No Skills/ Not Tech Savvy
Let’s assume that you were a plumber for most of your life. You got paid for years doing what you did and were great at your job.
But now you’re online. You need to either find new skills or find a way to monetize your old skills.
Here are a few ways to monetize your existing knowledge:
* Create an Online Course – Teach DIY plumbing basics or train future plumbers.
* Build a YouTube Channel – Share tips and tutorials, earning from ads and sponsors.
* Do Virtual Consultations – Offer remote help to homeowners needing plumbing advice.
* Sell an E-book – Write a guide on solving common plumbing issues.
* Make Money with Affiliate Marketing – Recommend plumbing tools and supplies for commissions.
If you don’t wish to monetize your existing knowledge, you can always learn a new skill like website design or copywriting or traffic generation with TikTok, etc.
The skill you choose to specialize in MUST be in demand. Look on Fiverr for gigs that sell well and pay well.
Choose one, learn it, and hone your skills until you’re very good at what you do. From there you can offer your services on marketplaces or find your own clients.
The more skills you have, the more profits you’ll earn.
This applies to tech skills too. There will be a learning curve, but once you master the skills, you’ll be unstoppable.
In conclusion…
All the 7 obstacles mentioned above can be overcome.
If your budget is tight, you can use the Systeme.io platform which has a generous free plan. You could actually profit without spending a cent.
It has all the tools you’ll need to create and sell your own products. As you earn more, you can upgrade your plan and invest in your business.
Stepping into the digital world might feel overwhelming, but remember, every great journey begins with a single step.
With your experience and grit, you’re more than capable of turning challenges into triumphs. Embrace each obstacle as a chance to grow, and soon you’ll see your efforts paying off.
You’ve got this!