The survey also showed that today's third age entrepreneurs (as report calls entrepreneurs over age of 50) don't mind putting in hours required to build their business. Nearly 49 percent work an average of 36 hours or more a week.

Third agers also rated holidays, lack of stress and a balance between work and home life more important than their younger counterparts.

The report further showed that only 27 percent run business as only source of household income, with 51 percent supplementing their pension.

Other key findings showed that third age start-ups account for 15 percent of all new businesses, and third age entrepreneurs are three times more likely to be male than female. There is a downside (isn't there always?). Many businesses fail within first few years and older entrepreneurs may be less able to handle financial loss than younger entrepreneurs.

It's one thing to lose everything at 25, but it's a much bigger deal to be financially ruined at 65.

So my advice, Milton, is that if your health and finances allow (and Mrs. gives green light) by all means start your business.

Climb on entrepreneurial roller coaster and hang on tight.

You get senior discount, by way.

Just try not to lose your lunch when things get bumpy and you'll probably do just fine.

Here's to your success.

Tim Knox, Founder For more information on starting your own online business visit http://www.dropshipwholesale.net, website for online entrepreneurs.

Before you invest too much time and money into your idea, do a little research to determine if it's an idea that's really worth gambling on:

·Research market for similar products. Again, if there are no similar products on market that might mean there is no market for that product. If there truly is nothing exactly like your product, research similar products that fill a similar void in consumer's life. Learn all you can about such products: pricing, market share, track record, etc. ·Research competition. As mentioned earlier, if there is no competition there may not be a market for a product like yours. If there is competition, research competition fully (little guys and big guys) to help determine if you can realistically compete for market share. ·Identify your target customer and ask them for an honest evaluation of idea and its marketability. Avoid friends and family as they usually just tell you what you want to hear. If your target customer is a 35 year old female, pitch your idea to every 35 year old female you meet and gauge their response. Just don't break any stalking laws in name of market research… :o).

The best advice I can give you when it comes to amazing new product ideas it's best to follow your head and not your heart. It's a lesson that took me years to learn. If I had a nickel for every amazing new product I've invested in I'd go play a few hands of poker.

Here's to your success!

Tim Knox tim@dropshipwholesale.net For information on starting your own online or eBay business, visit http://www.dropshipwholesale.net