“You are never too old to set another goal or to dream a new dream” - C.S. Lewis

Starting Over in Business After 50: My Journey Begins

Hello everyone, Alan Walker here with Fresh Over 50. If you're like me, starting over in business after the age of 50, you know it's not an easy task, but it's definitely possible. I'm on a journey to create a brand new business that will allow me to eventually retire and enjoy life on my own terms. But before I dive headfirst into this new venture, I've realized there are three key things I need to establish to make sure my efforts are successful.

Setting My Rules

The first step in my journey is understanding my own rules—what I'm willing to do and what I'm not. It’s important to set these boundaries right from the beginning. For me, authenticity is crucial. I'm not a guru or a know-it-all; I'm just someone who's learning as I go and sharing that journey with others. This also helps keep me accountable, as sharing my experiences motivates me to stay on track.

Becoming Geo-Independent

The second key to my success is achieving geo-independence. As a realtor based in Salt Lake City, Utah, I love what I do, but it ties me down to one location. If I ever want to move, I'd have to start my business all over again. My new business venture needs to be independent of where I live, allowing me to work from anywhere in the world.

Covering My Living Expenses

The third and final key is ensuring that my new business can cover my living expenses. Eventually, I want this to be my primary source of income, so it needs to be sustainable. I don't expect to get rich overnight—I've learned that there's no silver bullet in business, especially after 50. Success will come from multiple streams of income and not relying on just one thing.

Defining My Daily Income Requirement

To achieve financial independence, I calculated my daily income requirement. I took all my monthly expenses—mortgage, car payment, insurance, food, etc.—multiplied them by 12 to get an annual figure, and then divided by 365. This gave me a daily income goal of $263. I'm starting from zero, so I have a long way to go, but having this goal helps me stay focused.

Aligning My Business With My Interests

Another crucial step in this journey is aligning my business with my interests. I have a long-standing dream of moving to Spain, which is a big motivator for me. I also have a passion for AI and tech, so whatever business I build will likely involve these elements. And, of course, I love real estate, so that could play a role as well.

Exploring Business Opportunities

At this point, I'm exploring three potential avenues: a digital product, a digital service, or some kind of affiliate program. I don't believe in putting all my eggs in one basket, especially at this stage in life. Instead, I'm looking at a combination of these options to create a sustainable and diversified income stream.

Join Me on This Journey

This is where I'm at in my journey. I'm excited about the possibilities and eager to see where this path takes me. If you're interested in specific topics related to starting an online business after 50, I'd love to hear from you. Comment below, like, subscribe, and let's embark on this journey together!

Until next time, keep moving forward!

Alan Walker

Fresh Over 50