Tuesday, October 14, 2014

Early starters

     Free tips, information, advice, ideas, with business examples
     from a lifetime of experience starting up and operating businesses.

     A business frequently grows out of our early years. As a child or teenager, we show an interest in the activity that can later become a business. 

     Example: As a child, Jennifer watched her grandmother sewing. Needle and thread became magical to Jennifer--things got joined together and became something else. Out of the scraps from her grandmother's work, she made little outfits for her dolls. As a teenager, Jennifer's sewing became more ambitious. Encouraged by her mom, she made blouses and tops to wear herself. Fabric fascinated her. She turned old jeans into jackets and handbags. When she graduated from high school, Jennifer and her grandmother opened a small shop. It was filled with Jennifer's creations and they sold well. While Jennifer created new designs, her grandmother waited on customers and helped with the sewing. They reworked the shop's layout, installed a short runway and small stage, and today they hold regular fashion shows featuring Jennifer's designs.

     Example: Jeb worked summers during high school for a small construction company. He learned how to install siding, gutters and downspouts, build steps, paint and pour concrete and more. Jeb saved his earnings. When he graduated high school, Jeb could have started his own renovation and repair business, but he had a bigger idea. He used his savings to make a down payment on a three-family building that needed work. He put the place in tip top shape, rented the apartments to three tenants, and looked around for another building. 

     Example: Dave and Jim were buddies as teenagers and both were into fitness. They spent hours in the local gym working out and playing sports. When they graduated, they talked with the owner of the local weight training center about how to open a gym. Their idea was not to compete with weight training but to have an up-scale fitness center--offering weight reduction programs, healthy living, with a smoothie bar with vitamins and supplements. To their surprise, the owner proposed that Dave and Jim take over the weight training center and turn it into what they had in mind. The owner offered to structure a loan to cover the payout over several years. Dave and Jim were suddenly in business and on their way.

     These examples show how young people can take their interests to the next level. Keep in mind that anything can be turned into a business. It takes time, planning and lots of hard work. 

     It's not limited to young people. At any age, take your interests to the next level.

     More examples of turning your passion into a business can be found in these write-ups. In addition to the hard work, it takes an attitude, confidence, and persistence. 

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