Too many entrepreneurs fail to recognize they have three options - start a business from scratch, buy an existing business or buy the rights to a franchise. Step one is to determine which of these options make the most sense to the new entrepreneur and get that decision right. With this done its now a matter of laying the right foundations.
Andrew Rogersonof CA12:16PM January 03, 2012
I've worked from home over 11 years. I started out typing medical transcription and now I'm a blog and ebook author as well as I own my own virtual assisting company that provides administrative, web design and social media marketing services. As the articles states, it has been a lot of hard work but I wouldn't trade being my own boss for anything. Additionally, I'm finally seeing the results of my hard work as my blogs and ebooks are successful and my virtual assisting company is taking off as well. Anything is possible if you put your mind to it.
Cindy Buccieriof FL9:31AM April 05, 2011
I work from home renting personalized lawn storks to announce the birth of new babies (and have expanded over time to a large inventory of other whimsical signs for birthdays, weddings and more). I do have to leave my house to deliver the yard announcements, but I simply put my kids in their car seats and they go along with me. I spend a total of about an hour per rental - customers call me when their new baby arrives or there is a birthday, I personalize the sign, deliver it and pick it up a few days later. Since I own my own business, all profits are mine. My signs rent for between $55-$85 each. There are no direct sales or parties to host or anything. I set my brochures out in such places as baby stores, party supply stores, doctors' offices, hospitals, etc. and the customers simply call me when they have a special day to celebrate. There will never be a shortage of new babies or birthdays. It's a great market to be in. Plus it's nice to be able to do something fun and to help people celebrate. This business has given me the opportunity to work from home, something I decided I wanted to do once becoming a mom. Learn more about me and my business at http://www.sweet-greetings.com
Carrieof PA10:45PM September 21, 2010
As I read this article, one thought kept entering my mind... why is it that people start businesses with the sole purpose of making money? Don't get me wrong, I don't believe anyone should start a business without a solid revenue model and a realistic end goal, but what do you think would happen if entrepreneurs not only created a business plan, but a life plan that went along with the business?
In my experience and in the work that I do with my coaching clients, I have seen that when you have a clear idea about where you want to go in life and how your business will help get you there, the success that you can achieve is not only greater on a financial level, but much more rewarding on a personal level.
Business doesn't just have to be about money or money and passion... it can be about putting systems into place so you can accomplish what you were put on earth to do.
Britt Michaelianof CA3:29PM August 30, 2010
No man is an island and no woman either! Business is tough and getting tougher. The retail market is being taken over by the big box stores and has been. Think WalMart. When was the last time you found a local hardware store that isn't owned by a chain? I HAVE TO DRIVE MILES TO GET MATERIALS FOR MY BUSINESS when I used to drive blocks. I started a home rental business and over 10 years I bought and remolded 6 homes to rent. I have since been sued for trip and fall claims three times! My homes are like newand they are inspected annually by the cities which costs $150 each. I now have to pay $300 a year for trash pick up for each house. My insurance premiums are increased 4%/yr. and because of the recession I can't pass these increases to my tenants and now because my properties were built before 1974 I have to have extensive lead testing that starts at $375/ house for an inspection and then pay contractors for any repairs that are needed $$$? If you've been doing the math that equals $4950 bucks I pay to the government before I move in a tenant! There are 24 expense items on my monthly expense report I fill out for my C.P.A.to which I pay $600 a year for the company. Total now is $5550! So much for the landlord's lament. I've been pushed far enough and my profit margin has vaporized so I am selling if I can find a buyer. The governments own the company because they keep finding new taxes and the company is now working for the tax man! Good luck in your business but remember the tax man doesn't work by our rules and you will get new taxes and increases on your taxes and services you receive. One downturn in the economy and you go under if you can't pass the increases onto your customers. He who makes the rules RULES and that is the tax man. The voice of experience!
lee Hansenof MI9:28AM May 02, 2010
I am a single father to six children. After I gave birth to my last child, I had to quit my job. I invested my retirement money in a home and now it's getting foreclosed and I have no money for retirement. BUY THE MONEY, NOT THE HOUSE!!!!!
Reader Comments
Back to article
Andrew Rogerson of CA 12:16PM January 03, 2012
Cindy Buccieri of FL 9:31AM April 05, 2011
Carrie of PA 10:45PM September 21, 2010
Britt Michaelian of CA 3:29PM August 30, 2010
lee Hansen of MI 9:28AM May 02, 2010
Nicholson Lawrence of NJ 11:01AM April 28, 2010