Monday, December 21, 2015

Single person biz start-ups

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     Many small businesses are single person operations. Before you jump in and start up a small business, step back and take a look at yourself.

     What business do you go into? You have several interests that you are passionate about. It might be physical fitness or gardening or video games or music or some artistic pursuit.

     One person businesses exist in all these--and more--small businesses. If you are passionate about something, others are as well. And they represent your potential market.

     Any interest can be turned into a viable business. You have an interest. Now, you must study the market. Without a market, there is no business. Whatever the business, it's the buyers who will get you off the ground and headed toward becoming successful.

     Example: Jesse began playing guitar as a youngster. In high school he was a member of a band. That was 10 years ago. He decided to turn his interest in guitar into a small business built around music. He began teaching guitar to others and built up a following. As his teaching increased, he decided to open a small music shop where he sells and repairs guitars--and is adding more equipment his clients want. He is still a one person business, but he is doing what he loves.

     Example: Matt loved sailing. Whenever he had time away from his corporate position, he was at the local lake. Deciding he would make a transition, Matt began offering informal sailing lessons to others. His reputation spread. He got himself certified as an instructor in water safety. This brought in more clients. He began giving group as well as private lessons. When he was ready, he quit his corporate job and set up a small sail shop at the lake. Today, he sells sailing gear and supplies and sailboats. It took several years to make the transition, but today, Matt is happily planning to add an employee. 

     Example: The arts and crafts field offers many opportunities to establish a small business. Artists and artisans today offer painting and pottery, fibers and wools, beading and beads, jewelry, wood turning, basketry, quilting, glass, metal work and many others. They can work alone or ban together to work with others--the choice is theirs. They set up websites and post on social media--attracting widespread attention. Some are members of co-ops. Others offer their creations through gift shops--or they establish high end gift shops of their own. All can turn their passion into a small business. 

     Doing something you love can make business seem easy. The thing to remember is you must attract a marketplace of buyers.   

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