Business advice required

Discussion in 'Growing and Managing a Business' started by seanstevens, Aug 16, 2009.

  1. seanstevens

    seanstevens
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    All,

    I'm looking for some advice and ideas that I can pass on to my father. He is being forced into retirement this month after working at the same company for the past 25 years.

    His computer knowledge is ok for someone who never really started using one until a few years ago. He needs to earn around £200 ($375) per month to supplement the pension, it doesn't matter how long he will be working for.

    All advice and knowledge passed on will be greatfully recieved.

    Sean
     
  2. Fergal

    Fergal
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    I'm sorry to hear that, it must be tough for him. Unfortunately it's a story that's all too common these days. We'd be delighted to have him here on BAF, if he would have any interest in joining.

    Does your Dad plan on doing something on the Internet, in order to make money or is he considering other areas?

    Does he have to make that level of income straight away, or could he take some time to lay the groundwork and build up to it?

    Is there any subject that he would be interested in blogging about?

    If you can give us a little more info on his background and interests, hopefully we will be able to offer some helpful suggestions.
     
  3. TimeRider

    TimeRider
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    Yeah, it would be great if he will be here. If he has good Computer knowledge, he can earn from home easily. There are many online oppurtunities.
     
  4. seanstevens

    seanstevens
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    Thanks for the responses.

    He has average computer knowledge is looking to improve this. He has about 5-6 months to build up his knowledge and look into a few things before he needs the money for bills etc.

    Something online would would be good for him so that he can work when it suits him.
     
  5. Mikey

    Mikey
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    There are things that he could get paid for, such as paid forum posting and paid blog posting, is his general knowledge any good?
     
  6. JBMedia

    JBMedia
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    There is such a vast majority of things you can do online to make some extra income. But first thing I will need to ask to help out further is, does your dad have any money available that he could use to invest in something?

    He could always start off affiliate marketing a product that he has some background knowledge in and would enjoy learning more about. He could promote via some free outlets like article marketing and the sort, but more than likely the best way to generate sales from something of this nature would be to have a little investment money to put into Google Adwords or some other ad network of the sort.

    When you say he has a basic knowledge of computers, are you referring to computers in general? Or are you referring to some specifics as well? By specifics I mean hardware, software, web design, coding, and databasing. Does he have any knowledge in those type of areas? If not, and he's interested in learning, he can always pursue learning and building his skills in one of those particular expertise and then offering his services as a freelancer. I know it's not a "guaranteed income", but if he learns the materials well and does good work, he shouldn't have a problem finding work. There's plenty of sites where people post jobs that freelancers can work on and get paid for. A great example is GAF (GetAFreelancer.com). If this isn't really the path you feel your father would want to go in, give us a few examples so we can better accommodate what he could fit into.

    Hope that helps a bit.
     
  7. Fergal

    Fergal
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    If there was a particular subject area that interested your Father, he could consider starting a blog on that topic. The blogging links in our Useful Online Business Resources should be useful to him, especially the "0 to $500 / Mth from Blogging" one.

    Please let us know your thoughts and keep us updated on how things are working out for him.
     
  8. seanstevens

    seanstevens
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    Thanks all.

    I will be meeting up with him next week in Italy. (I live in Germany, my parents in the UK). I'll pass on the information received so far and get some extra information on what he wants to look into.

    Sean
     
  9. Fergal

    Fergal
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    Enjoy your trip to Italy, beautiful country to visit.
     
  10. Nazreen

    Nazreen
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    What a coincidence. My father will also retire soon because he's reaching the minimum retirement age of 62 years. I checked his bank accounts and he has enough savings but he's looking to earn some extra cash too just like your father Sean. He offered to fetch me from our house and drive me to my work everyday and I agreed to it. At least he'll get some extra cash.

    Anyway, I worked as a financial consultant before so I have some knowledge on planning for retirement. One of the things that I usually advice my customers before is to downgrade their houses. If they're currently living in a 3-bedroom house, they can sell that and buy a smaller one. Since retirees also don't need to go to office everyday, getting a house just outside the city would be more preferable and a lot cheaper too. With the money from the house, they can add this to their retirement "nest egg". I've also advised my dad to do this exact same thing.

    As to working online, does your father's interest lie in that area? I believe that he should first do an evaluation of his skills and since he already has these, it would be better if he worked on something that makes full use of his present skills.
     
  11. DEADMAN

    DEADMAN
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    I'm sorry to hear that your father is forced to resign from his job. Was that necessary in your point of view from the company?

    It's still good that your father has computer knowledge. But can you elaborate more how much is his skill upto? Has he knowledge on Web designs, programming etc? I can mention following:

    - Being a freelancer
    Freelancer is a best way to earn online. If you father has good programming or web design skills, he can earn quite good cash-earning.

    - Opening Hosting company or being a reseller.
    I'm sure this idea can help you alot. If you can invest, you should get with hosting domain name and web hosting. If you provide affordable and reliable pricing and 24/7 support then earning is much more. However, can't invest much be a reseller of specific and trusted web hosting company.

    - Working as a Writer or writing ebooks.
    If your father is a good writer or can write ebook on popular topics like "earn money online", "tips to be successfull", "how to solve problems", "starting a business" then I'm pretty sure this idea works as worth.

    - Signing at Affiliate programs or Get paid to (GPT) program.
    This program can be very useful and benefit if you've dedication on working to make your affiliate link popular or have the capability to convince people to buy company's product? I hope since your father works in a company, he should possess it.

    - Starting your own site and earn Revenue.
    Sometimes, if you think if you can have a site with hots topics and news that can create many members at your site, why not a site? I believe a constant update to the site will help you earn revenue and people seek towards hot topic and useful topic.

    If you can elaborate about the particular computer skill that your father possess then we may advice some more.
     
  12. seanstevens

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    Thanks for your post Deadman.

    I will reply on this post again in September after I have spoken to my father and received some further information and ideas of what he is thinking about doing.

    There have been some good ideas given and this is a good starting point for him.

    Sean
     
  13. mannu

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    I think, you should invest in the real estate by which you can get extra income.
     
  14. Fergal

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    mannu, thanks for your suggestion. Investing in real estate is something that requires a lot of funding up front and the return from that investment can be quite slow in coming. I'm not sure that real estate would be a good investment for someone that is retiring and looking for a relatively small regular income to top up their pension.
     
  15. DEADMAN

    DEADMAN
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    Real estate is a heavy and hard job, it would earn you so much but after all it's not very secured job as well. It would be like returning back to your previous jobs.
     
  16. jumeira123

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    He can do consulting type of work over phone.For eg. A company requires a certain service or product. You know some people who offer that service or product.Just link them both and get paid for your service.
     
  17. syed2011

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    I think the best advice anyone can give is to consultant a business adviser and also there are some courses for business development etc... you can even join them for further Options.:)
     
  18. ecombiz1

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    tell him to start blogging..
     
  19. Yanni

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    I will highly recommend for him to start a blog about something that he enjoy's talking about. I recommend you to tell him about modern "Internet" content and how it should be structured... people don't have to write 5,000 word articles anymore. : )
     
  20. aapkae

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    There are things that he could get paid for, such as paid forum posting and paid blog posting, is his general knowledge any good?
     

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