Starting your own business over 50

Starting a business after the age of 50

GOLDEN VALLEY, Minn - Over 50, and thinking about plan B now? Maybe its starting your own business after retiring from your first career, if so, you are in very good company.

According to The Kauffman Index Study on startup activity in 2015, start-ups rose in 2015, reversing a five-year downward trend in the United States. And who's leading the way? The boomers.

Why are they starting their own gigs? Gallup studied nearly 2,000 U.S. baby boomers, including entrepreneurs and non-entrepreneurs, and found that an overwhelming majority -- 83% said their main reason for launching a venture was a lifestyle choice or to increase their income.  

Neil Anderson from the Courage Group joined us on KARE News@4 to discuss how to turn the dream of being your own boss into reality.        

If you want to become an "Encore" entrepreneur, here are six proven, pre-start-up tips to think about now:

1.  Plan on having a plan

2.  Plan on making the business real

3.  Plan on bootstrapping it

4.  Plan on marketing and selling everyday

5.  Plan on doing some sacrificing

6.  Plan on watching your expenses 


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