Tuesday, November 3, 2015

Business beginnings

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     A business frequently grows out of things we do in our early years. As a child or teenager, we become interested in an activity that can later become a viable business undertaking.

     Example: Tom 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. Tom saved his earnings. When he graduated high school, Tom 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 to buy.

     Example: As a child, Jennifer watched her grandmother sewing. Needle and thread became magical to Jennifer--things got joined together and became something new and exciting. 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, 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. She is now graduating her business to the next level, farming out production and selling to other stores.

     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 and 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 people can take their interest to the next level. Keep in mind that any activity can be turned into a business. It takes time, planning and lots of hard work.

     Whether you are in high school or stuck in corporate America, look to your interests and turn them into a business. It can be done at any age.

      Starting a business takes hard work, an attitude, confidence, and persistence. Just do it! 

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