Starting a business can be a thrilling venture at any age. Still, if you’ve spent your past 20-plus years working for someone else, self-employment can feel overwhelming. It can seem as though you’re always behind the times. How do you solve today’s business problems? Who do you turn to for help? And what resources are available for those of us on a tight or limited budget?
There are resources available. This article aims to guide aspiring entrepreneurs above the age of 50 through gathering knowledge and scaling their businesses in a budget-friendly manner. It emphasizes various avenues like online learning, utilizing technology, smart budgeting, and strategic partnerships as crucial components to successfully starting and managing their ventures.
Navigating the Waters of Business Knowledge on a Budget
Start with your local public library.
I know. When you think of the public library, you think of books and plenty of kids. The thought of heading there might sound counterintuitive to some, but hear me out. We’re all part of the information age, including your local public library. We’ve changed. Libraries have changed.
Find one with a robust business catalog. You’ll find reliable and up-to-date business knowledge (the kind we can’t afford) curated by professionals dedicated to educational and informational accuracy. You can access diverse resources, including books, magazines, journals, and online databases, often accompanied by knowledgeable librarians who can help navigate complex topics.
Leverage Online Platforms:
At your preferred search engine, search for MOOCs: MOOC is short form for Massive Open Online Courses that offer free education in an online environment. Platforms like Coursera, edX, and Udacity offer free lessons from universities and experienced professionals on various business-related topics. Look for thought leaders in your niche.
Webinars:
While cruising the web, be on the lookout for free webinars from industry experts. These free courses are typically offered in hopes that you’ll be so impressed that you’ll take out your credit card and purchase the longer, more advanced course they offer, and you just might. But just the same, it’s OK if you attend the webinar to learn and absorb. This is a great way to discover if you’ve stumbled upon a niche and a teacher you’d like to work with somewhere down the line.
Forums and Online Communities: Engage in forums and communities related to business and entrepreneurship (like Reddit’s forum for Entrepreneurs)
Go to YouTube to find videos that address your concerns.
Join Local Business Groups:
Meetup Groups: Attend local business Meetup groups to connect, learn, and share experiences. Again, you can find Meetup groups by putting the term in your search engine.
LinkedIn Groups:
Explore LinkedIn groups related to entrepreneurship and join conversations.
Business Workshops
Local Chambers of Commerce: They often host workshops or networking events helpful in gaining insights. This is a great place to network.
Community Colleges: Sometimes, they offer free or low-cost workshops on business fundamentals.
Volunteer or Intern:
Work with Startups: Offering your time can provide you with practical insights and learning directly from experienced entrepreneurs.
Explore Government and Non-Profit Resources:
Small Business Administration (SBA): Leverage free resources, guides, and online courses provided by SBA.org. You can find business plan templates adaptable to most new businesses.
SCORE: This non-profit organization provides free mentoring and workshops for new entrepreneurs.
Smart Marketing Strategies
Content Marketing: Leverage your expertise by creating valuable content to attract potential customers. Offline, this might mean writing articles for local publications. Remember, if you want a publisher to put your ad in their publication free to you, make your article newsworthy, not directly spotlighting your business or cause. Your business gets highlighted as the contributing author.
Leveraging Technology:
Automation: Use affordable educational platforms like Teachable and Udemy to teach you everything needed to manage different aspects of your business.
Partner Up:
Work with your “strategic partners” to see if any have small business programs that may aid you. Who are your strategic partners? Your bank, credit union, your sororities, etc. Some have mentorship programs for small businesses.
The bottom line is to look for correct, reliable information you’ll need to grow your business. Don’t be afraid to sign up on the Internet for free information or to network with other forward thinkers in your quest to gain knowledge. I’d like your feedback. If you have additional ideas, feel free to expand on these ideas in your efforts to scale your business knowledge.
