How to overcome the mental block to starting a business when you retire.

Have you ever seen someone with money and time to start a business yet choose to stay at home and do nothing? Yes, I have seen quite a few people like that. Every time they see me, they ask the same question: what type of business should I start? So I always take time to talk to them about their options.

However, the next time I see them, they have the same question for me. Some even end up telling me that if they do not work for the rest of their lives, they are comfortable. Great!!! I find that statement a bit funny because most retired people can boast of that situation.

So, for most people, it is not about the money. If you have a business, the daily activities help you stay healthy mentally and physically.

The primary obstacle to starting a business after retirement is the mind. I will illustrate this with the story of the baby elephant who was tied to a stake.

There is a familiar story of a baby elephant tied to a stake. It tried all it could to get free, but it could not free itself. As months went by, the elephant started to believe that it was not strong enough to pull free from the stake. When the rope was removed from the stake, the elephant did not move past the area where it was restricted.

Finally, when the elephant grew big enough to break free from the stake, it remained there because it believed it could not break free.

This is precisely what happens when you spend years in paid employment. especially if you worked in the civil service or military where there are procedures to carry out tasks. The tasks do not require any extra effort from you. Also, you become so used to the salary at the end of the month.

If you had a job like this, it then becomes challenging to start a business when you retire. A business means that you have to move out of your comfort zone.

As someone who always has a side hustle, I will tell you that it is not easy to start a new business. You will always have that force pulling you back to the comfort and safety of relying on your salary. I believe that it is the same thing when you are retired. After all, you have the comfort of your pension.

In this article, I will share with you 3 (three) things that help me move out of my comfort zone every time I start something new.

Table of Content.

Create the habit of learning.
Network with your new community.
Believe in yourself.

Create the habit of learning.

You are retired does not mean that you should stop learning. In fact, before you start your business, you should attend business management courses. Some other things you should know are the technical side of your business. You will feel more confident about starting a company with the knowledge you get from the different trainings.

You have to understand that business is a new environment for you. However, the more you know about the business, the easier it becomes. So please, do not get the knowledge the hard way. That is through trial and error in your business. If you use trial and error, you will lose a lot of money. Your business might even fail.

Network with your new community.

There are existing communities in your new industry. The communities can be online or offline. In those communities, you have the opportunity to meet new people and learn from them. Whatever stage of business you are, you need to join a group of people with the same interests as you. Social media sites like Facebook have specialized groups for business owners.

A good example is the smartretirementbiz Facebook group. https://web.facebook.com/groups/smartretirementbiz In this group, you get information to help you start and grow your business. Joining a community online is as easy as a click from your phone.

You should find out about groups in your location that will help you. Start by asking other business owners about the industry association in your area.

Believe in yourself.

You may not believe this initially, but you have everything it takes to start a successful business. Confidence plays a large part in your success journey. Even with all the knowledge about your industry and a community of people helping you in your entrepreneurial journey, you can still fail if you do not believe in yourself.

Self-confidence comes from the knowledge that nobody starts perfectly. While you were in paid employment, it was easy to have some semblance of perfection because there was a template to help you perform your daily tasks most of the time.

In business, it does not happen like that. You will face new challenges both internally and externally. However, self-confidence in your abilities will keep you going. Here are two tips to help you increase your self-confidence.

Remember all your achievements in the past. There are times in your life when you thought that you could not do something. However, you succeeded and did better than you thought. That is to show you that you can succeed at building your business.

You can also get help externally by speaking to a business coach. If you keep a business coach on retainer, it means that there is someone you can talk to about your challenges and who can offer timely advice to you. You can choose to have a personal session with your business coach or join a group coaching session.

Conclusion

Your mind can be a great help or a terrible master. It depends on how you use it. You should not let your past in paid employment stop you from starting and growing a business.

.Remember, everyone has feelings of doubt at one time or the other. The actions they take differentiate those who succeed from those who fail.

Also, you cannot do better than the people around you. So, if you keep people who are afraid as your friends, you will stay in your comfort zone. I suggest that you should build a new network if you choose to start a business.

If you are interested in getting more tips on how to start and grow your business, join us in our Facebook community https://web.facebook.com/groups/smartretirementbiz I look forward to answering your questions there.