Retire and Start Your Own Business

I run a website on working from home, so I've written hundreds of pages on the topic and have read countless books on a variety of ideas. I found NOLO's "Retire and Start your Own Business" to be a great combination of easy to follow advice as well as detailed information and checklists.

The book does a nice job of taking things simply, going step by step for people who have not gone through this process before. It starts by having you look through a list of interest, circling the ones that appeal to you. You answer thought-provoking questions such as "if money were no object ..." You set specific goals for yourself - not "someday I will paint more" but "By the end of summer I will finish a painting of my childhood home." Goals should always be phrased positively - "I will finish a painting a month" rather than negatively - "I will stop wasting my time watching TV." It even has you list and organize the values you treasure.

The book also takes into account things many new business owners overlook - will they mind working alone? Will they crave team contact? Will they really have self motivation, or will they find themselves distracted and losing money? Remember, 25% of all new businesses fail in the first two years, and by four years over half of them have shut down. This is not an easy thing to do - but with planning and diligence success can be found.

There are plenty of books out there for "starting your own business" - but this one specifically addresses issues that retirees face. For example, many retirees have the ability to easily move and relocate. The book goes into the pros and cons of that decision. It reminds you to enumerate not only your "work" skills but also the many life skills you've picked up over the years.

Once all of the charts and lists are filled out, it's simply a matter of winnowing down the ones that make the most sense for your situation and getting started.

The book then covers forms of business - LLC, corporation and so on. It goes into loans, taxes and other issues.

The book gives a number of real life examples to help you understand issues, and with the accompanying CD you can read PDFs and run spreadsheets to your heart's delight!

I really don't have any complaints at all with this book. It is simple enough for someone with no knowledge at all to understand, and goes step by step through the process. It has references and details for people to learn more about an area they want to delve into.

Highly recommended.

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