Some people relish those long, lazy days of retirement by engaging in hobbies and watching TV. However, if you’re one of those people who needs big projects to keep busy, why not start your own business after you retire? Learn why retirement is the perfect time to become a business owner.

You’ve Got the Time

Many aspiring entrepreneurs try to get startup businesses or side hustles going while still working at their day job. However, starting a business takes time and effort, which may not be feasible for people who work full-time.

Now that you have your weekdays free, you have plenty of time on your hands to brainstorm business plans, secure funding, hire talented staff, and more.

You’ve Got the Money

Now that you are working for yourself, you can gain full access to the retirement account you spent years building up! While you may not want to use all of your savings for your business venture, the money is there when you need it. You can also apply for new business startup funding to augment your existing capital.

You Can Work Flexible Hours

If you don’t want to commit to working full-time again, you don’t have to! Depending on the type of business you want to start, you can commit to flexible or part-time hours. You’ll still have plenty of spare time to enjoy your retirement and spend time with loved ones.

You Keep Your Mind Active

Starting a business requires you to wear a variety of hats, so to speak—especially in the early days when you’re still establishing yourself. Maintain an active mind and keep your problem-solving skills fresh! Having something to do every day, even if it’s for only an hour or two, will keep those days from blending together.

You Get Supplemental Income

Many retirees still work part-time jobs or small side hustles for some extra pocket money. Additional income in your retirement is never a bad thing! With a stream of income separate from your retirement account, you’ll be more financially stable in the long run.

While starting your own business after you retire can feel like a monumental project, there are plenty of reasons why you should go for it! You’ve got more free time to devote to your venture, and you can build on a lifetime of experience to set your business up for success.

Looking for ways to fund your retirement venture? Check out Pango Financial’s funding solutions tool to see the options at your disposal.

Oliver Wendell Holmes said, “Many ideas grow better when transplanted into another mind than the one where they sprang up.”

We’ve all been a part of that team project. You know, the one where a person takes the lead, making some members in the group feel like their ideas are not valuable, while others in the group just mooch of the rest of the team.

It is understandable then that many are gun-shy when it comes to getting work done as a team. No one likes being part of a group where one person dominates or even worse, relegates certain members to the side-line.

And yet, something magical occurs when teamwork happens the way it’s supposed to happen. It is incredibly rewarding when everyone on the team is equally dedicated to the overall purpose and goal. Teams work faster, find mistakes more easily, and produce better results.

At some point, you reach a synergy and come to rely on each other, knowing that the team has your back.

No matter how smart, talented, driven, or passionate you are, your success as an entrepreneur depends on your ability to build and inspire a team. A successful leader is one who can rally their team members to work well together toward a common vision and goals. I’ve discussed this important part of leadership in a previous blog post, “Developing Leadership Qualities.”

Working on a successful team can be an exciting and liberating experience. When a team is working well, each member knows that he or she is part of something bigger than just the individuals involved. Team members in high-performing teams have open communication and inspiration can flow freely. That is sometimes hard to do as an individual as we are often limited by our own experiences and our ideas are also limited by those same experiences. Despite occasional disagreements, an effective team enjoys working together and shares a strong bond and sense of camaraderie.

Teams that work well together result in an organization with happy employees (which also equals more productive employees) and most people and businesses would rather support a company whose employees have a strong team spirit.

Finally, by teaming up with others at work, you’re exposed to their skills and ideas and can learn from them and expand your own skill set. You can also significantly enhance your problem solving abilities and THAT will make you a much more effective leader.

Before we address the question of this blog post, here’s a tip for free: almost everything you do online will have some influence over where you rank on Google. 

Your brand’s name is not only part and parcel with everything you do, but it’s also front and centre.

Does your brand name affect SEO performance? Of course, it does. Does that mean you should base it around your focus keyword? It’s a good strategy, but it’s also not necessary.

Now that we’ve established that brand names do affect SEO performance, let’s discuss some strategies you can use to make your brand name work for you.

Focus keyword?

Your focus keyword is the search term most people type into Google when they’re searching for businesses in your industry.

Let’s say, for example, that you own a lawn mowing business. After conducting a little research, you may find that the most common search term for your industry is ‘lawn mowing service’.

You could use this knowledge to your advantage and name your business Bob’s Lawn Mowing Service—and this would, no doubt, give you a built-in boost in search rankings.

However, it’s also important not to rest on your laurels.

What are the best strategies for naming my business?

Incorporating your focus keyword into your business name is certainly one strategy, yes. As a digital strategist in , however, I recommend focusing on the following. If this comes at the expense of using your focus keyword, so be it.

Choose something unique

As a business strategy consultant in Melbourne, I would encourage you to scour the competition for inspiration. However, I must also stress that your point of difference is so important.

What does that mean? It means that you should leverage your competition’s strategies—without making it obvious you copied them. Name your business James’ Mowing and customers will (rightfully) brand it as a cheap ripoff.

Choosing a unique business name is important not only from an integrity standpoint but also from an SEO perspective. Choose something unique and you’re not competing with similarly-named businesses.The last thing you want is to appear on a Google results page, sandwiched between two other lawn mowing businesses, with little to set you apart from the others.

Choose something memorable

How many people actually access websites directly these days?

Android users, in particular, equipped with the Google Search app on their mobile device, often default to typing a brand name into Google rather than typing a URL in full.

So, if customers are counting on your brand name alone to bring your business to mind, you’d better make it a memorable one.

How do you do this? Here are three strategies you can try. 

See if you can make your name alliterate. Doesn’t ‘Rolls Royce’ just roll off the tongue?
See if you can keep your name to two syllables. Shorter names are not only easier to remember but also rank better in Google results.
Make it phonetic. Spell your brand exactly as it sounds and no one will struggle with locating your website. Moreover, with the growing trend of talk-to-text technology, it’s important that devices can recognise—and correctly spell—your business name.
What’s the takeaway?

Brand names are more strategic than you may, at first, think. They may be just one or two words long, but there is a scrupulous method behind their selection. As an SEO consultant in Melbourne, here is my final advice:

See if you can incorporate your focus keyword into your brand name.
Choose a unique brand name that won’t throw you into direct competition with similar businesses.
Choose a brand name that’s going to stick in people’s minds.

It all boils down to using marketing principles and basic human psychology to optimise your brand name into something that ranks well on both a Google results page and in people’s minds. This name is your hook—load it with all the bait you can.

If you enjoyed this blog post, I have plenty more wisdom to impart. For an SEO consultant in Brisbane who gets it, call me on 1300 777 847 OR book your consultation online. There aren’t that many digital strategists in Brisbane that can help quite like I can.

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