Ideas For Self Employment

Self employment is one of the key benefits of a free economy. This article offers several ideas for several self employment opportunities, along with fundamental keys to starting your own business.

Ideas For Self Employment

Many of us, like me, don't have a clue what we're doing when we set out to be self-employed. Along with giving you some ideas I know work, with this article, I'm hoping to save you the years of earning nothing it took me to finally put something together applying my strengths and resources to the current market. If you properly plan how to use your abilities in the marketplace, you can be profitable rather quickly in some business areas. Here are some ideas and fundamentals you need to consider.

Assess Strengths And Weaknesses: This is often the hardest area because most people think they have more strengths and fewer weaknesses than is really the case. If you honestly approach what you personally have to offer, you can get to the truth. Sometimes it's good to find people who don't like you and ask them what it is about you they don't like. If you've been married more than a year or two, your spouse is a great resource for discovering your weaknesses. Once you know your weaknesses, identify which ones you can overcome with training and/or paying someone to fill the gap.

Measure Self Employment Resources: Your resources to begin with are usually time and money. You need to know how much of both you have to devote to your business. If you don't know, you need to find out before you start...otherwise, you'll get part way down the road and run out, which could bankrupt your family.

Ideas For Self Employment: I'll go from most financially costly ideas to least costly of business ideas I know will work. If you like espresso drinks and have about $ 200,000 to invest, you can start a drive-through coffee service. Some have done it for less, but I wouldn't count on it. For about $ 150,000 and some training, you could copy keys and provide mobile locksmith services. A friend of mine, who was very skilled in building trades, started as a handymen and worked his way up to general contractor with several employees. Another friend started part time mowing lawns and, in a few years, had several crews and cleared over $ 100,000 per year. Either of these would require $ 10-20,000 in tools to start.

Others I've known have developed successful businesses cleaning people's attics, basements, garages and hauling off the trash. This is a dual business, making money cleaning and hauling and making money selling what others call trash. It could take as little as a $ 1,000 trailer to start. I started a used book business with a small SUV (any car will do), a computer and internet service. In the third month, I cleared over $ 2,000, just by buying books at garage sales and selling them online, 24 hours a week. This type of business can be done with books, cd's, dvd's, small toys, etc. If you start with $ 1,000 worth of equipment, materials and software, and $ 1,000 in cash, you can grow faster. Now, I have a successful Internet publishing business where I sell advertising on my websites. If you have or can develop the skills, there's plenty of room on the Internet for the self-employed. It took about $10,000 of equipment and software and $ 500 per month to get it going, but it takes months to years to get profitable.

Evaluate The Market: What to avoid: Any business that tells you you can build a business helping others build businesses, with no experience and little money. I went there...it's a dead end. Look at the market potential of everything you might want to do. The best businesses for self-employment are those where you can do things others are unwilling to do...washing windows, cleaning yards or homes, gardening, doing laundry, etc. There will always be a market for these things in a developed country. Study what others in your market are earning and how they're earning it. You could even work for one while you're learning. If you're a fast learner and a good employee, you may just become a partner and not have to reinvent the wheel.

Count The Costs Of Startup: I've mentioned the money it would take to start these business ideas, but that's just what it takes to buy the equipment or facility. If you're leasing anything, you have to figure your monthly lease payments. If you have to bring people to your location, initial advertising will be a huge expense. Then there's insurance, licenses, maintenance. If you're doing this full-time, you have to consider how you'll pay your personal expenses until your business can support you. I chose businesses that have less of that and can be started part time, while you're still supporting yourself with a job, because that is by far the safest way to become self employed.

Make A Business Plan: Once you've done all your research, describe your proposed business on paper, including your philosophy, your market, your strategy for meeting the market needs, your competition, your advertising plan, your startup costs, your operating costs, your available resources and how you will meet all the skills required to run a business, including management, advertising, sales, technical, legal, insurance, and accounting. Have that plan reviewed by people you know who have been successful in business, and incorporate their suggestions. Once you've done this research and planning and know how you'll accomplish your plan, you're ready to start.

The perfect career is the one you're designed for. Sometimes you need help to know what you should be doing from the one who designed you. Help like that comes from God. If you'd like God's help in your career search, just click on help me God.

What self employment business ideas do you have?

Ideas For Self Employment

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Love & Hugs,
Glen

Self employment is one of the key benefits of a free economy. This article offers several ideas for several self employment opportunities, along with fundamental keys to starting your own business.