Wednesday, May 13, 2015

Getting into business

     Free daily tips, information, advice, and ideas
     to help you better manage your small business. 

     There is no magic road map for getting into business. You begin where you are and take it from there. 

     If you are young, you have little experience in business. But you have a real interest in something, and if you're interested, others are interested. They are your market.

     If you are in corporate America, you have little appreciation for the world of small business. But you have years of experience doing something, right? Can this be translated into a small business? Or do you have a hobby that can form the basis for a small business? 

     Example: Jane was a customer service representative for a large company. She had a book of accounts and handled the problems that cropped up with products and services. Exhausted at the end of long days in the office, Jane came home to her jigsaw puzzles. She looked forward every day to her evening time at her dining room table fitting pieces together. Usually, she had 4 or 5 going at once. One day she screwed up her courage, gave her employer notice, rented a small store front, and installed her jigsaw puzzles on the shelves. Her grand opening attracted some interest, and her presence on social media generated even more. She bought and sold puzzles and board games through her website and on eBay. It took a while to get the business off the ground, but it worked. And Jane was never happier. 

     Example: Jeb worked summers and after classes during high school for a construction company. He learned how to install siding, power wash decks, build steps, mount gutters and downspouts, paint and pour concrete. He saved his earnings. When he graduated high school, Jeb could have started his own renovation and repair business, but he had a bigger idea. With his savings, he made 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. He still takes on renovation jobs for others, but his main business is acquiring and managing rental properties of his own.  

     Example: Sheena was fascinated with the law. She got her law degree and passed the bar exam with flying colors. Then she found herself stuck in a large law firm where someone else made all the decisions. Sheena wanted to be her own boss, so she decided to build her own business using what she knew as a basis. She structured a series of presentations on various aspects of legal matters and began offering them to organizations, churches, senior centers, and other groups. These events brought Sheena clients who needed legal help in buying and selling real estate, writing wills, dealing with law suits, handling traffic accidents, and other matters where the law was concerned. It took some time, but today Sheena is doing what she loves in her own way. 

     Getting into business is a matter of knowing your own interests and kicking it up to the next level. It takes attitude and determination and persistence. 

     Any interest you have can be turned into a business. It might never grow into the next Microsoft, but it can be rewarding--personally and financially. 

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