Are you tired of jumping from job to job and having to continue the search for employment? With the economy as tough as it is and more and more companies having to downsize maybe it’s time you start a small business? Yes, start your own business and get out of the rat race!
So open up your mind for a few minutes and let’s look at a few of the options available to you.
There are ways to make money online, ways to make money from home and ways to make money through traditional methods and channels. It’s just a matter of doing a little research and then making the decision to follow through and get started.
One of my recommendations is to not go it alone, leave the guess work behind and get your business up and running as soon as possible! That way you can start bringing in income sooner than later and not have to stay out there in the job world.
So you’ll need to find people who specialize in business startups and can help and assist you with all the questions and answers that you need to get going fast!
Now before you get all excited and jump out of your skin – I need you to calm down, come back down to earth and ask yourself a few questions.
So start typing or grab a pen and paper…
Step #1 – How much do you need to make every month after taxes to pay your bills and cover all your expenses? This figure is very important to know up front so I suggest you write it down and know what it is.
Step #2 – How much money do you have on hand to invest in your new business? Nothing? $500, $1000, $5000? This is one of the most important questions you need to ask because all businesses take money to start up and operate. No matter what you’ve heard from the ‘peanut gallery’, it will take money to cover the costs associated with starting a business. So stop looking for ways to cut corners and figure out how much you are willing to invest in your business.
Step #3 – What do you really enjoy and is there a market out there that is not being served or taken care of that you can fill through a small business? My big tip for you is to do something that you really enjoy or at least have an interest in. Why? Because the last thing you want to do is be in a business that you dislike or have no interest in. So take the time to do the research and be prepared to invest an evening or two to find out what your potential market looks like. This way you’ll be able to see if there are unmet needs that you can fill through your business.
Once you answered all of the above then you should have a better idea about what you are going to provide. Will it be a service? A physical tangible product? Will you sell it online or offline or both? Will it be marketed to consumers or businesses? And the list will inevitably grow.
Like I mentioned earlier – there are lots of different ways to make money – but owning a small business is one of the best ways, if you like to call the shots and run your own show.
Always remember – to start a business is one thing…to keep it going is entirely another story. And with that I’ll close for today and let you review the three tips above and get started on your research.
PS – If a small business sounds like it’s right up your alley and you need some guidance, check in with the SmallBiz Mechanic and get going in the right direction.