When you’re looking for a retirement income opportunity, you’d better make sure certain things are in place or else you could waste a lot of time with not very much to show for it.
In case you’re wondering what makes a good retirement income opportunity, there are some things you’ve got to get clear.
When you’re looking at an opportunity, you’ve got to know what kind of opportunity you’re willing to get involved with. There’s franchising, gumball vending machine opportunities, affiliate marketing, carpet cleaning opportunities, network marketing opportunities – and the list goes on.
If you want to do some labor in your business, then you’ll want to drift that way and find a business where you’ll have to roll up your sleeves and go to work. For most people, especially those in retirement age, this is not ideal.
If you’re going to take the time and look for a retirement income opportunity, at least find one that is not so labor intensive.
After all, you’re not in your twenties anymore and what’s the point of working yourself like a work-horse in your retirement years?
What is the Best Retirement Income Opportunity?
If you don’t want to work yourself to death in your new business, then you’ll want a business that doesn’t require you to do hard physical labor. You definitely do want a business that can produce an income rather quickly.
Franchises
In the case of franchises, depending on what kind it is, you may have to do most of the leg work yourself until you’re able to hire employees.
The biggest downside to franchises as you probably know is the cost of getting started. The next biggest pitfall to franchises is that it can take years for you to see a profit in your business. Do you really have years to waste in hopes of seeing a real profit?
This is a big gamble and if the franchise doesn’t become profitable or puts you in a boatload of debt, then your heirs and your estate will likely have to deal with that.
Franchises make sense for certain kinds of people and particular times in their lives. In terms of retirement income opportunity, a franchise may not make complete sense at this time in your life.
MLM
I’m sure by now you’ve probably heard of companies such as Avon, Tupperware, and Amway. These companies are in the network marketing business model and some of them use the mlm compensation model. If you’re not familiar with mlm, it’s when you have to build a large distributor force in order to help you sell your company’s products.
Some people have good success in mlm and some don’t. The biggest downside to a traditional mlm is that you have to build a large sales force in order to make any decent money – and that could take 2-5 years.
Do you have the patience to wait that long? Are you a people person? Do you like helping people? If you answered “no” to any of those questions, then perhaps network marketing may not be for you.
If you like some aspects of network marketing, then you’ll want to choose a network marketing company like SFI. This company does a hybrid of network marketing and affiliate marketing. This is the only company that I know of that has done this successfully on a massive scale.
If you’re just not into network marketing or mlm, then there are other home business ideas that can produce an income for you without having to recruit for a sales force.
Affiliate Marketing
Affiliate marketing is the fastest way to get into business without having a product or service of your own.
If you can find offers that convert well, all you have to do is drive traffic to the webpage.
Traffic generation can especially be a challenge if you don’t understand Internet marketing or how to drive targeted traffic.
If you have a huge warm market (friends and family) or a large circle of influence around you, you can get by without knowing about traffic generation. Most of the time that’s not going to be the case. Most affiliates go into the cold market for traffic.
You Have a Winner
If you have a product/service that works for both your warm and cold markets, then you’ve got a real winner on your hands.
Not everyone will have the patience to learn about traffic generation in the beginning, yet most people do have a circle of people around them. At the very least you can make money from your warm market while your learn how to drive traffic.
When choosing a product or service to promote, think about one that has more mass appeal especially if you’re going to tap into your warm market to get sales.
If you’re going to be strictly an online marketer, you want to find a niche. So, it basically all depends on how you plan to market.
Faster Profits
When it comes to a retirement income opportunity, you want the ability to make money rather quickly.
The key to business success is turning a profit quickly so you can recoup your business expenses and put more money back into your business and in your wallet at the same time.
Internet-based businesses tend to produce faster revenue because there is literally little to no overhead expenses.
When you add up all of those elements together – a product that works for cold and warm market, and that produces faster money for you, you’ve got a triple whammy that has the potential to make a complete lifestyle change for the better for your family.
Where to Find Your Next Business
Like most affiliate offers, they can be found on such sites as Amazon, Clickbank, Share-a-Sale, Commission Junction, and OfferVault. But the problem is that you’ll have to weed through a lot of offers til you find one that has a decent payout and even then, depending on the network, you may have to apply to see that offer.
If you’re serious about starting a retirement income opportunity as soon as possible, you’ll want to find offers that you don’t have to apply and wait to be accepted.
If you like network marketing, then choose a good network marketing company. If you have a hobby or interest that has proven buyers in that market, consider turning it into a business.
If you’re still not to sure what business you want to do, check out the “Reviewed and Recommended” section of this website.
The Key to Being Successful in a Retirement Income Opportunity
Whatever kind of business you decide to do, you want to remember these key points:
- You absolutely MUST understand Internet marketing sooner or later
- Choose an Internet-based business so your overhead expenses are low; this way you can turn a profit faster
- Be dedicated to learning about traffic generation – this is a MUST
- Choose a business that has proven buyers in it. If you go with network marketing, make sure it has products/services that real people are buying.
What I Recommend
If you want to cut your learning curve in half and get a step-up above most online marketers, it’s to your benefit to get a copy of Dotcomology. You can download it here.
This gives you the basic foundation of Internet marketing. Without it you’re gonna struggle like the 90%+ of online marketers do.
If you’re serious about retirement income opportunity, then this is the best place to start.
