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06: Starting a Business After Retirement with Kim Netting

35:59

Episode description

Retirement doesn’t have to mean stagnation or mark the end of pursuing dreams. In fact, many people aspire and start up their own personal businesses after retirement. One notable person who successfully began her own business after retirement is Kim Netting.  

Kim Netting noticed a lack of products that targeted people with allergens, specifically gluten intolerance, and started up a company producing ice cream sandwiches to satisfy those customers. In today’s conversation, Kim talks about what inspired her, the most rewarding elements of starting a business, and what the process of building a business looks like. To hear more about the behind the scenes of creating a business after retirement tune into this episode of Your Best Financial Life with your host, Scott Malbasa. 

 

Show Highlights: 

 

  • Where Kim started in her career and what motivated her to move forward 
  • What inspired Kim to start her own personal business 
  • How Kim went about creating her product 
  • Getting her own commercial kitchen to avoid cross contamination 
  • The natural progression of the business 
  • Perceived risks of starting a business 
  • Figuring out a way to manufacture for mass marketing 
  • Bringing over past experience to future endeavors 
  • Communicating and setting boundaries with clients 
  • Sacrifices that come with owning your own business 
  • The most fulfilling parts of having a business that serves people 
  • What influenced Kim to not expand 
  • Finding customers to meet profit margins 
  • Downsizing vs. quitting business completely 
  • How age impacts commitment 
  • Making investment decisions and getting loans 
  • Why contracts aren’t always a smart business idea 
  • What the process of shutting down looked like 
  • Delivering until the end 
  • How to transport merchandise
  • The most satisfying parts of building a business from the ground 
  • How small-scale companies make money 
  • Tips for starting your own business after retirement 
  • Hiring trustworthy employees 
  • The most relieving parts of completely retiring 
  • Advice for gaining insight 

 

Links: 

 

https://itunes.apple.com/us/podcast/your-best-financial-life/id1449443683?mt=2

 

https://www.cordantwealth.com

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