Guidant’s small business survey recently reported that 42% of US entrepreneurs over 50 say they launched their business to pursue their passion.
Another 32% started a business because the opportunity presented itself. And 22% did so because they were unhappy working in corporate America.
I’ve talked to people who fit into all 3 categories.
The majority wanted a Freedom Microbusiness.
This is a low-stress business where you finally get to be yourself, share a message that gets you excited, and interact with an audience you care about.
Opportunities abound online today.
And while there are some issues currently with the next-generation AI, it’s going to keep expanding and making freedom even more possible in the future (help with brainstorming, script writing, audio/video editing, and so much more).
What type of freedom microbusinesses would I recommend?
It all depends on your interests.
I’ve helped clients in all types of markets over the years including things like learning languages, tennis, golf, scrapbooking, stock trading, weight loss, online marketing, continuing education in different fields, and all types of B2B industries like CPAs and chiropractors.
Inventory your education, work experience, hobbies, interests, skills, and obstacles you’ve conquered.
Look for stories you can tell. For example, do you have a failure-to-success type of story? Or a story where you stumbled upon a new discovery? Or perhaps a mentor story where someone helped you overcome a hurdle?
If you have an aura of authority or credibility in the topic, that’s another advantage you can tap into.
I recommend looking for a big, growing market. Then narrow it down to an audience within that market or a topic where you can carve out your niche.
What type of freedom microbusiness should you start?
You could create and market digital courses.
That’s a good starting point, especially to attract your initial customers, but I usually recommend transitioning into some type of membership model for more income.
It doesn’t need be a huge site with a massive amount of content.
It’s easy to overwhelm members today.
I’ve coached several clients lately to offer LESS than they were planning in their membership.
Give your members a clear route to success instead of overloading them with content they won’t have time to access anyway.
Another freedom microbusiness that I love is coaching or consulting.
One-on-one coaching is a great way to get started because you can earn a good income even from a small list.
As you refine your system and collect case studies, you can expand into group coaching or deliver your content in courses.
Of course, affiliate marketing, done-for-you services, ecommerce products, and SAAS (Software-as-a-Service) are all good monetization options for a freedom microbusiness as well.
How do you get leads and customers?
The #1 source of sales for me and my clients over the past 2+ decades has been email.
Focus on consistently growing your email list.
That’s where my Authority Lists & Traffic course comes in.
If you’ve got 20 minutes a day…you too can grow a big, responsive email list.
And you do it with a system that’s customized based on your personality, interests, and audience…which means you can consistently and reliably attract an email list full of enthusiastic buyers using activities you ENJOY doing each day.
