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• Financing Types |
Going from Pay Check to Payoff: Making the Transition from a Job to 3. Start A Part-Time Business
Note that there are many dubious “models” that purport to be paths for people to start part-time businesses. Late night “infomercials,” the various entre-preneurial magazines, and even acquaintances trying to sign you up for their sales programs should be looked at with a very healthy degree of skepticism. If they sound too good to be true, then they probably are not worthy of considera-tion. There is no quick, easy road to starting a truly viable business, and it will take time, effort, and money. However, some of the various “opportunities” do turn out to be businesses for certain types of entrepreneurs. Multi-level marketing, for one, is not neces-sarily a bad business model-assuming, of course, that there is a viable product to sell and a real market (in contrast to those models that depend on signing up friends, family, associates, and strangers “under” you). Such businesses can be managed during evening and week-end hours. Those businesses let you maintain control over how many extra hours a week you want to spend starting your business. Selling items over the Internet is a variation of the mail order business model. Internet customers shop 24 hours a day, and you can manage your Web site when it is convenient for you. Of course, you have to have product to sell, but legions of people across the globe are engaged in at least part-time businesses with the buying and sell-ing of goods via popular services such as e-Bay. If you can manage a few hours a week and have or can develop a viable product to sell via the Internet, you may be able to build a thriving small business without having to give up your regular job. If you have a passion for a hobby or craft, some aspiring entrepreneurs with a passion for a hobby or craft are able to build part-time businesses while still employed. They start by building an inventory of most popular craft items, and then participating in weekend arts and crafts shows. They often sell their creations over the Internet. Another approach is to participate in artisans' or crafts cooperative. An-tique dealers have used that model for years, either in anticipation of opening their own shops, or simply to capitalize on their enjoyable past-time. They then have the freedom of later making them full-time businesses when they are gen-erating a steady income stream and offer growth potential. Of course, “get rich quick in real estate” programs always are available. The fact that they often are about selling tapes, books, and other educational in-formation, does not obscure the fact that many wealthy entrepreneurs have build thriving real estate business. The chances are that you know someone who has one or more apart-ments or houses they rent out. Other people buy properties, fix them up, and then sell them quickly for a profit. Those entrepreneurs are in business, even though they may be holding down full-time jobs. Perhaps real estate could work for you. Even if your ultimate business dream is not about owning real estate, it could help you build net worth and assets that could later be applied to your ulti-mate business. Other entrepreneurs start businesses mowing lawns and taking care of yards, doing wall-papering and painting jobs, and pet sitting, etc. If you look carefully, you will find many part-time business opportunities all around you. Even if they do not evolve into full-time businesses, they can still provide sup-plemental income and satisfy some of your entrepreneurial needs. If you aren't ready for the shock of going directly from a regular pay check to a business lacking a regular income in its early stages, then a part-time ven-ture could be just right for you. Business Financing Network Copyright 2008 © Business Financing Network |
