As I found myself approaching 50 years old, I knew I had to make a decision.
Was I going to work until I hit 65, retire, and hope my retirement accounts and Social Security (yeah, right) would be enough?
Or would I outlive my savings and become a burden on my children?
Worse, would my company decide they didn't need me anymore, and downsize to get my salary off their books?
Job security?
No such thing!
So I decided to go in a different direction.
I decided that starting an MLM home business made sense for me…
- To provide extra income until I was ready to leave my traditional job,
- To gain the freedom to travel and see my kids,
- To provide the security of knowing I couldn't be downsized,
- Making residual income so I could make money even when I was working.
Starting an MLM Home Business Over 50
For those starting an MLM business over 50, there can be some different challenges.
Sure, doing your due diligence to choose the best MLM company and finding the right mentor is all part of starting an MLM business for anyone at any age.
But when you're starting a business at a later age, coming from a traditional job where oftentimes you've become well respected, the transition can be eye-opening!
It often involves swallowing your pride and checking your ego at the door.
The transition from employee to entrepreneur is difficult.
The transition from a successful working professional to becoming an entrepreneur can be even harder.
I go deeper in this following video:
For anyone starting an MLM business over 50, or if you've already started a business but are struggling to find success, the path can be challenging but the rewards far outweigh the difficulties.
What's been the biggest obstacles in building your MLM Business?
It's Your Time to SHINE!
Dr. Bob Clarke
Email: Bob@BobandRosemary.com
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23 replies to "Starting an MLM Home Business Over 50"
Bob Really you have done good decision for your earning. I think their is nothing like your own business. You have taken good start.In this way you can save your routine salary.
Hi,
Every One,
Bob,it’s really good and informative article. I like your way of discussion. I think ,we shouldn’t only depend on job. We should start a side business for backup.Like ,now days, real estate business is good.
Keep the good stuff up!
Thanks.
I’m glad Real Estate is good where you are in the World because where I live it’s very flat. But regardless, having a side income or two is the way to go in this unpredictable economy.
Well it’s funny that you have related this to starting a business when you are over 50 – because it actually hit me when I was approaching my 40th.
I loved what you mentioned about knowing things – I remember when I first started, I had been through all of Mike Dillard’s products and could not imagine why I would need to use a marketing system – all the training I seemed to be listening to at that time, I felt I already knew – and yet looking back it was obvious that I had just parked in somewhere in my head or on paper and done nothing with, because I didn’t have the basics of understanding.
Loved the theme of this series and look forward to the next Bob!
Nicky
Yes, Nicky it’s true… much of the things I talk about as struggles over 50 can apply at 40 or any age. I’m relating it back to what I went through, which was starting a home business around age 50.
I know exactly what you mean. I also went through that stubborn stage, where I read all the books and listened to the tapes and decided I “knew it all”. You can get humbled pretty quickly that way.
Appreciate the comment, Nicky!
My biggest obstacle was to be patient and and to keep myself believing that it possible to make money online. ( I turned 50 in June 2012) I am so glad to say that I had an amazing epiphany this week. I came across an incredible book which validated that I can be successful and told me precisely how to master inbound and content marketing. Never before have I had such a belief and conviction that what I am doing is right. I must add that since subscribing to your blog Bob, this shift has started to manifest in my life. Thanks 🙂
Appreciate the kind words, Wade…
So what was the book? I’d like to read a book like that!
Hi Bob, I could mail you the book, however I think the ethical thing to do is subscribe to this blog and download the book there. Well worth the read.
http://www.thesaleslion.com/download-free-copy-inbound-content-marketing-easy/
I just grabbed it, thanks Wade.
Pleasure Bob, I would love to hear your feedback on it. I am sure that Marcus would too.
It’s a big ebook! Will take me some time to get through it all 🙂
Hi Bob,
You don’t hear too much about starting over at age 50. This is very much needed for those who want to make a change. Most of the information yes can be applied to anyone but over 50 you really provide good enlightening information.
MLM makes so much sense. Just the way you explain it and what you can get out of it is Wow! With the right company and as you say a mentor or mentors (up-line) things can really start to fit together if you are willing to do the work and keep what you say in this post in mind.
Thanks for sharing this valuable makes you think information with us.
Terry Conti
You’re welcome, Terry.. seems to me there’s a lot of inspirational material out there telling people it’s never too late to start something new, but few have told HOW to do it. I will continue to answer these questions in my next videos. Appreciate the kind words.
Hi Bob,
Well I hope it is ok that we comment on this – While I am not 50+ – I am getting pretty close, 36 four day ago….
The tips that you share here can really be for any age group, and we think that the biggest and most important tip that you mention is being patient. We see so many people start a new project and try to learn a new skill and within a week or two they give it up. Giving a business a year or two is really what it takes, just like a traditional brick and mortar, people need to get away from the instant gratification mentality that has guided them through life for so long.
36! You can’t be reading this, Robert! haha… happy belated Birthday, my friend.
Patience! It’s definitely one of the biggest ones. We’ve been conditioned in our society for immediate gratification and this has, unfortunately spilled over into the home business arena, where people get in — and out — if they don’t make money fairly quickly.
Those that fight the urge to flee, find the right companies to partner with and the right teachers to lead the way will benefit greatly from their patience!
Thanks for the comment.
I can SO relate to this Bob because this is exactly what I did as I was approaching 50. Never in a million years would I have thought I would be building a business online but wit the way the economy is and knowing we can’t always rely on our investments, this is just a smart move.
But with everything else in life, it takes time to build up that business just like if you were doing a 9 to 5 position. You can’t step into any career and expect to be advanced to the top without working the business first.
Enjoyed the video and great explanation on what it takes. We both know that it’s never too late to start.
Thanks for this message Bob and enjoy your weekend.
~Adrienne
So many of us feel the exact same way, Adrienne… and you are an inspiration to all people in this age group.
You are a true go getter… you learn from the right teachers, take action and make it happen. Thanks for your leadership!
Hey Bob, A very nice post. People who are starting their business at a later phase of their lives would really be motivated by this post, especially the ego part has been rightly said. Your training are very specific and targeted, you are understanding the needs of the upcoming marketeers and the various obstacles faced on ground levels. I enjoyed the post…. I know a person here in India who was on the verge of committing suicide due to his financial hardships, he was 67 years old, but somehow was saved by a network marketeer and was motivated to take up home based business. At the age of 75 now after nine years, he is a billionaire, owner of many properties, owner of a fleet of luxurious cars and a jet aircraft. One of the richest marketeer in India. The nine years have outweighed the rest of his life, that is the kind of progress one can achieve with dedication and correct mindset, at any age. Thank you Bob. By the way you people look quite young for your age, so keep going………..
Wow, what an amazing story… on the verge of suicide to billionaire in 9 years. I’d love to meet this gentleman… he must be a very interesting person.
Thanks for the compliment regarding my age. In all honesty, I feel like I’m 30!
Hi Bob
Thank you for this excellent post and video. This is such an important message and one that needs to be shared. It needs to be told as it is and you have done a great job of that here.
I have been in business most of my life. As a sole CPA , then in a partnership with my husband and another partner, then in a couple more businesses along the way. Each one has been a learning curve and there are always challenges.
I thought because of this when I did join an MLM it would be much easier. It was not easy as you know.
I love your point “don’t assume” and the addition check your results. Great advice.
Thanks Bob
Wow, Sue you have quite the entrepreneurial past! I didn’t know that about you.
It’s so true tho — the skills we acquire in one part of our life don’t necessary transfer into another… even though we think they should.
MLM, IM, content marketing… whatever profession we choose — all require a different set of skills that take time to acquire and hone.
It’s why I preach patience all the time! 🙂
I really appreciate this and its so true. I remember I had to be humbled so many times! And I didn’t start out as a professional at something like being a doctor! But seriously, most people will come into their own if they give it a chance and a lot of patience, into their 3rd year, with some success before that. At least that was my experience.
I think being humble is a great trait to have in this business. That’s not to say you should be meek… No, some of the most powerful people I’ve met in our Profession are very humble. I agree with your timeline… sounds about right.
Thanks for taking the time to comment, Lynda. Great to see you again this weekend!