AN ACE IN THE HOLE
Twelve tips for starting a home business.
BOOTSTRAPS
RELATED CONTENT
Buying or building a small home is a great way to significantly reduce your energy use, and you don...
There are thousands upon thousands of abandoned farmhouses scattered throughout the U.S., at bargai...
I'm renting an old Finnish homestead near Nolalu, Ontario....
A community canning center is the answer....
Upstate New York homesteader Grace Brockway finds immeasurable happiness in raising chickens....
Home-business expert Marc Esenson offers a dozen bps on
starting a small home enterprise.
Once upon a time, hard work, dedication to the company,
and/or a strong union guaranteed your job for life. Today,
it's far more prudent to assume that sooner or later, you
and your job will part company (if you haven't already).
When that occurs, will you feel victimized, depressed, and
desperate? Or will you be ready to seize the opportunity
for a great new beginning? Your choice. It is my firm
belief-and long-term experience — that developing and
maintaining a teeny, tiny business of your own, what I call
an Ace in the Hole, is the best investment you can make for
your future.
You don't need to burn any bridges, mortgage the farm, quit
your job, hire attorneys and accountants — or even
necessarily invent a better mousetrap. You just need to
pick a reasonable path, take a few well-calculated, very
low-risk steps, and let your Ace grow slowly. Along the
way, you'll get two bonuses: extra income and more tax
deductions.
So why isn't there a business booming on every kitchen
table? Despite America's reputation as The Land of
Opportunity, you probably believe that starting a business
is costly, risky, and regulated, and that you'd be nuts to
try. Nonsense! Allow me to demystify the process:
1. Start now.
Begin by simply giving the possibility of creating an Ace
in the Hole some serious consideration. My friend Al Lococo
always dreamed of retiring into his own business and gave
the notion a lot of thought. Eventually, Al came to believe
that he really could be his own boss. So, about 18 months
ago, he decided to retain his job but moonlight in a small
computer business. Al filed his chosen business name at the
county courthouse, opened a business checking account,
registered with the state sales tax people, and converted
one room of his house into a workshop/office. His total
investment was "pocket change," but Al's Ace was
in place, and public.
2. Find a niche.
Your journey to entrepreneurial glory can't begin until you
have a product or service that people will happily pay you
to provide. Do you already know what your Ace will be?
Great. But don't rush to place a full-page ad in the
newspaper just yet. If inspiration hasn't struck, there are
lots of ways to find it. For example, skim through the
yellow pages, scan the classified ads in newspapers, walk
down Main Street — or through a mall. Pay attention
to how others are making a living on their own, and tune in
whenever you hear, "I wish there were someone I could call
to ...." Then, make a list of things you know how to do.
Really! Be serious, be silly, be creative — but fill
up at least a page.
Page: 1 |
2 |
3 |
4 |
Next >>
