Financial Times

How about a business at home as your second career
By Nilooka Dissanayake,
I was surprised by the number of people who called me regarding the article last week, titled "Your Second Lifetime." It was encouraging to see so many people considering the possibility in a serious way. Most of the people who called were either retired or thinking of retirement in the near future. But, I know quite a number of younger people-those in their thirties and forties, including yours truly-who are also giving serious consideration to the prospect of a second lifetime.

We understand the concerns of those in or approaching retirement. They have completed a full career. But, they do not feel 'old' in their hearts. Their experience, training and maturity are a great source of wealth that formal organizational structures fail to recognize. As a result these individuals feel hurt and rejected. But, rather than look at it in a negative way, many are considering it a blessing in disguise. They no longer have to be confined to an office cubicle or adhere to a strict office routine. They are seeking ways to explore their freedom in a productive manner. I know this joyous feeling because I 'retired' before I was 30 and stopped working for others to become my own boss.

Often these individuals have been prevented from achieving their best potential due to various invisible organizational 'ceilings.' Or else, due to commitments they had to begin earning before they achieved the heights of their educational aspirations. Now, they have a second chance and they are raring to explore their true potential.

Only this time, it is often not simply the financial considerations that spur them on. True, in many cases there has to be some financial inflows. But over and above that, they need to find an occupation, activity, cause or project that will give them a sense of satisfaction and achievement. They need to find something that they can at last be proud of.

As for the younger crowd who are planning for their second lifetime, while still in their first, they may be realising that money and power are not everything. Think about it. If you earn a decent income and have a job that keeps you very busy, is that enough to make you happy? Besides contentment in family life-which is outside the scope of this column-do you need anything else? There are also those who dedicate their lives to work because their family lives are not happy. Do you feel happy about what you have achieved so far? Perhaps, if you are working in an established organization, in the middle management have you already begun to feel that your prospects are limited? You are not alone in this.

Whichever category you belong to, you are now thinking and planning for your second lifetime. How about entrepreneurship? Starting a business at home could be one way for you to achieve that sense of satisfaction and pride in work while also earning an extra income. Whether you want to start a small catering operation from home, become a consultant or advisor to share your expertise or go seriously into home gardening or growing flowers as an extra income earner, you are thinking of a small business. Why not start out in a planned and organized manner? I know of one person who planned his retirement project over 15 years. And you can actually afford to do this planning because rather than economic pain, it is different considerations that are prompting your journey into the world of business. You have time to think before you leap.

This brings this column back a full circle. We started Business@Home with the objective of helping you get started in your own business. Over the years we discussed how you could select a project that is suitable to you, your background and your lifestyle. We looked at how to generate business ideas. We explored how you can do your own research in a small way to find out whether there is a large enough market for the product or service that you have chosen for your business idea. We discussed how to develop market links and to leverage your personal contacts.

Now, I am going to hand over to you, my dear readers, how we take this column forward. If you are keen that we address the issues that we have covered in the past-as I have mentioned above-we can do so. If that is what you want we are keen to serve you. So, please tell us your concerns, difficult areas and topics which you wish us to explore in detail through this column in the future.

Send us your ideas and suggestions by way of telephone or email. You can contact us on ft@sundaytimes.wnl.lk or on 5-552524. The writer is the Managing Editor of Athwela Vyaparika Sangarawa (Athwela Business Journal), the only Sinhala management monthly targeting the small and medium enterprises and its English version, Small Business International magazine.

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