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Monday, January 31, 2011
Tuesday, January 25, 2011
Saturday, January 15, 2011
The New Economy
The New Economy
And Why Home-Based Entrepreneurs Should Be Excited About It
Finding stability in the midst of chaos
100 years ago—even 60 years ago—many, many more people than now lived and worked in the same neighborhoods, growing much of their own food, buying whatever else they needed from neighborhood businesses, and were, for the most part, more self sufficient. They knew their food was fresh and which of the locally-made products were of good quality. Now I am not going down a ridiculous nostalgia road, here. Things in “the good old days” were not all good, and we need only look at the Great Depression, the Dutch Tulip Bubble, the Dust Bowl, and other crises to know that destabilizing conditions have occurred and created havoc from time to time; but the current economic crisis and crumbling of the financial system in the United States and throughout the world has created a trend towards more small-scale, simple, controllable, and local operations that, combined with technological advances that allow us to work from home, could be creating the most monumental opportunity for home-based business entrepreneurs ever to occur. The most recent issue of Yes! Magazine (subtitled, “Building a Just and Sustainable World”) has devoted most of its Summer 2009 issue to their vision for a New Economy, and it has all kinds of implications for those of us who work from home. Order a copy now from http://www.yesmagazine.org or call them at 206-842-0216. For subscriptions, call Toll-Free: 1-800-937-4451—and no, I’m not on their payroll ;-) .
Also don’t miss our own IAHBE writer Yank Elliott’s pieces recently on opportunity in the midst of chaos and his new article on business funding from micro-lenders. This is right in synch with trends in this New Economy. As Yes! Magazine’s Executive Editor Sarah van Gelder describes the New Economy, it is “built on new forms of money, and on democratic finance and business.” People are learning that they can live without Wall Street and create a more manageable and more stable way to finance and run their businesses with local and cooperative sources. Yank has been preaching this in several of his articles, and it’s true – your local banks, your local credit unions and other local organizations may be just what you need, because most of them never forgot that they must serve rather than take advantage of their customers. I serve on the board of a local community bank, and I know that we never made a subprime loan or participated on a mega-deal. We’ve been accused of being too conservative, but we know that we’re not helping a client by making them a loan they can’t afford. Our customers know, too, that we’ll work with them every step of the way and go to bat for them as long as they’re trying. When we get out of these tough times, they won’t forget that our bank stuck by them when the going was really bad.
Less is More
Other themes emerging in the New Economy that harken back to more old-fashioned habits are cutting back, doing with less, and getting rid of wasteful consumption in many aspects of our lives. We allowed ourselves to mindlessly ratchet up our standards of living just because we could, and it has fueled an unsustainable economy which has come crashing down around us. The silver lining is that we CAN be more self-sufficient and we CAN be happier with less—much less. And guess what…these habits of thrift and lower consumption are also good for our most precious possession, Mother Earth. As President Obama’s stimulus package goes into effect, new jobs are being created to build more earth-friendly city infrastructures, weatherize homes, increase the use of renewable energy, build public transit systems, and many other projects that have been delayed for far too long. These are being done with overriding goals in mind: to improve health, happiness, and environmental quality.
What Should Home Business Entrepreneurs Do to Take Advantage of the New Economy?
Look for service opportunities to help people adapt. Perhaps you can create info-products that help people find their own opportunities in the New Economy or help them find how to take advantage of Stimulus Package monies or other funding sources that are becoming available.
Stay on top of new jobs being funded and new businesses that need subcontracted services as they crank up their own economic engines based on money flowing in from the stimulus package.
As larger businesses downsize, look for needs they may have in your area of expertise which they may be willing to outsource to you.
Look critically at your local community and try to identify gaps that need filling to be a more self-sufficient community. Is there something important that people have to drive to a big city to buy or get? That gap may be the key to a business opportunity if you can fill that need.
If you have land or a building with additional space, consider a business that creates a platform or venue for cooperative efforts of others and allows them to showcase their wares, crafts, or products: e.g., a farmer’s market, a craft store, an art gallery. By working together, you can provide them with an opportunity and provide yourself with an income stream.
Consider multiple usage of any facilities you own to help someone else and increase your own income stream. Can a congregation without a church building use your warehouse on Sunday? Do you have specialized equipment (a color copier or a copier or scanner that can handle larger-sized documents) that other home-based business owners can lease from time to time?
Donate used equipment and furniture to local nonprofits or thrift store and get a tax deduction. Don’t throw anything away if someone else can use.
The New Economy Resource Guide
If you’re interested in learning more, Yes! Magazine has compiled this large list of resources, tools, and books they used in researching their articles. It includes links to research and policy organizations that can offer further insights, suggestions, and tips.
Learn all you can about changes that are occurring. Get to know other home-based and small business owners and patronize them or refer customers to them whenever possible, especially those who are also community supporters and responsible citizens. Help organize cooperative efforts that benefit everyone. Be a positive-thinking leader in this time of uncertainty and trouble. Help as many people as you can in your community to understand and benefit from the changes, and you will be seen as someone who can be relied on and trusted. This will help you build your own brand and business and serve you well far into the future.
Home business entrepreneurs have long known the quality-of-life advantages of working from home. An economic tsunami has forced the rest of the world to look again at some things we’ve known all along. Welcome them with open arms and perhaps you’ll create yet another business niche for yourself at the same time.
And Why Home-Based Entrepreneurs Should Be Excited About It
Finding stability in the midst of chaos
100 years ago—even 60 years ago—many, many more people than now lived and worked in the same neighborhoods, growing much of their own food, buying whatever else they needed from neighborhood businesses, and were, for the most part, more self sufficient. They knew their food was fresh and which of the locally-made products were of good quality. Now I am not going down a ridiculous nostalgia road, here. Things in “the good old days” were not all good, and we need only look at the Great Depression, the Dutch Tulip Bubble, the Dust Bowl, and other crises to know that destabilizing conditions have occurred and created havoc from time to time; but the current economic crisis and crumbling of the financial system in the United States and throughout the world has created a trend towards more small-scale, simple, controllable, and local operations that, combined with technological advances that allow us to work from home, could be creating the most monumental opportunity for home-based business entrepreneurs ever to occur. The most recent issue of Yes! Magazine (subtitled, “Building a Just and Sustainable World”) has devoted most of its Summer 2009 issue to their vision for a New Economy, and it has all kinds of implications for those of us who work from home. Order a copy now from http://www.yesmagazine.org or call them at 206-842-0216. For subscriptions, call Toll-Free: 1-800-937-4451—and no, I’m not on their payroll ;-) .
Also don’t miss our own IAHBE writer Yank Elliott’s pieces recently on opportunity in the midst of chaos and his new article on business funding from micro-lenders. This is right in synch with trends in this New Economy. As Yes! Magazine’s Executive Editor Sarah van Gelder describes the New Economy, it is “built on new forms of money, and on democratic finance and business.” People are learning that they can live without Wall Street and create a more manageable and more stable way to finance and run their businesses with local and cooperative sources. Yank has been preaching this in several of his articles, and it’s true – your local banks, your local credit unions and other local organizations may be just what you need, because most of them never forgot that they must serve rather than take advantage of their customers. I serve on the board of a local community bank, and I know that we never made a subprime loan or participated on a mega-deal. We’ve been accused of being too conservative, but we know that we’re not helping a client by making them a loan they can’t afford. Our customers know, too, that we’ll work with them every step of the way and go to bat for them as long as they’re trying. When we get out of these tough times, they won’t forget that our bank stuck by them when the going was really bad.
Less is More
Other themes emerging in the New Economy that harken back to more old-fashioned habits are cutting back, doing with less, and getting rid of wasteful consumption in many aspects of our lives. We allowed ourselves to mindlessly ratchet up our standards of living just because we could, and it has fueled an unsustainable economy which has come crashing down around us. The silver lining is that we CAN be more self-sufficient and we CAN be happier with less—much less. And guess what…these habits of thrift and lower consumption are also good for our most precious possession, Mother Earth. As President Obama’s stimulus package goes into effect, new jobs are being created to build more earth-friendly city infrastructures, weatherize homes, increase the use of renewable energy, build public transit systems, and many other projects that have been delayed for far too long. These are being done with overriding goals in mind: to improve health, happiness, and environmental quality.
What Should Home Business Entrepreneurs Do to Take Advantage of the New Economy?
Look for service opportunities to help people adapt. Perhaps you can create info-products that help people find their own opportunities in the New Economy or help them find how to take advantage of Stimulus Package monies or other funding sources that are becoming available.
Stay on top of new jobs being funded and new businesses that need subcontracted services as they crank up their own economic engines based on money flowing in from the stimulus package.
As larger businesses downsize, look for needs they may have in your area of expertise which they may be willing to outsource to you.
Look critically at your local community and try to identify gaps that need filling to be a more self-sufficient community. Is there something important that people have to drive to a big city to buy or get? That gap may be the key to a business opportunity if you can fill that need.
If you have land or a building with additional space, consider a business that creates a platform or venue for cooperative efforts of others and allows them to showcase their wares, crafts, or products: e.g., a farmer’s market, a craft store, an art gallery. By working together, you can provide them with an opportunity and provide yourself with an income stream.
Consider multiple usage of any facilities you own to help someone else and increase your own income stream. Can a congregation without a church building use your warehouse on Sunday? Do you have specialized equipment (a color copier or a copier or scanner that can handle larger-sized documents) that other home-based business owners can lease from time to time?
Donate used equipment and furniture to local nonprofits or thrift store and get a tax deduction. Don’t throw anything away if someone else can use.
The New Economy Resource Guide
If you’re interested in learning more, Yes! Magazine has compiled this large list of resources, tools, and books they used in researching their articles. It includes links to research and policy organizations that can offer further insights, suggestions, and tips.
Learn all you can about changes that are occurring. Get to know other home-based and small business owners and patronize them or refer customers to them whenever possible, especially those who are also community supporters and responsible citizens. Help organize cooperative efforts that benefit everyone. Be a positive-thinking leader in this time of uncertainty and trouble. Help as many people as you can in your community to understand and benefit from the changes, and you will be seen as someone who can be relied on and trusted. This will help you build your own brand and business and serve you well far into the future.
Home business entrepreneurs have long known the quality-of-life advantages of working from home. An economic tsunami has forced the rest of the world to look again at some things we’ve known all along. Welcome them with open arms and perhaps you’ll create yet another business niche for yourself at the same time.
PayBox.me : Get Paid $ 25 for Joining
PayBox.me : Get Paid $ 25 for Joining
• You won’t be “selling” anything. You will just spread the word about getting a free account with PayBox, just like now—with one difference—your referrals will have the option to join the affiliate program. If they do, you will earn about $33 per referral.
• $30 Million Payout. We expect to pay out US$30 Million this year in affiliate commissions. How much of that money you claim is up to you, but, you will need at least basic Internet marketing skills if you want to earn in the range of $1,000s per month.
The affiliate program could launch as soon as the end of February. The date is still flexible.
Join today: http://www.paybox.me/r/manu55
MANOHAR MATTU
India
• You won’t be “selling” anything. You will just spread the word about getting a free account with PayBox, just like now—with one difference—your referrals will have the option to join the affiliate program. If they do, you will earn about $33 per referral.
• $30 Million Payout. We expect to pay out US$30 Million this year in affiliate commissions. How much of that money you claim is up to you, but, you will need at least basic Internet marketing skills if you want to earn in the range of $1,000s per month.
The affiliate program could launch as soon as the end of February. The date is still flexible.
Join today: http://www.paybox.me/r/manu55
MANOHAR MATTU
India
Friday, January 14, 2011
Startup Opportunities
Start-Up Opportunities In Hard Economic Times
If you have been dreaming and planning to start your own business, you may be tempted to put those dreams and plans aside in the wake of all the terrible economic news you’re hearing on television and radio. Wall Street seems to be imploding, banks are failing, unemployment is skyrocketing, businesses are laying off workers, and bad economic news seems to be the order of the day. Your friends and family may be discouraging you from going out on your own right now. What should you do?
A Reality Check is in order: Choose wisely
This is not the time to be unrealistic about your plans or frivolous with your or your family’s money. If you are still employed elsewhere, take the time to research your entrepreneurial interests carefully, test your market, make sure you have the necessary capital, and try, if you can, to start out on a small scale or part time before committing full time.
Service businesses usually require much less overhead than retail or manufacturing businesses, and they are often much more easily run from your home. Think about the area where you live, what the demographic make-up of your area is, and what the needs are of your neighbors and people like you. What kinds of things would you pay someone else to do to make your life easier? In many areas, senior citizens are a rapidly growing age group, often with disposable income. They have many needs, from transportation to help with cleaning, shopping, and personal needs. Your business niche might be to meet one of those needs.
If you are still considering different types of businesses, consider industries that are known to withstand economic downturns. Conduct an internet search for “Recession Proof Jobs” and you’ll get lots of ideas. While this will pull up employment opportunities, it will get you thinking about industries that still have money and cash flow. Perhaps you could come up with a business idea that services some aspect of these industries or those that work in these industries. Consider these: Sales Reps, Software Design, Nursing, Accounting Executives and Staff, Networking and Systems Administrators, Administrative Assistants, Business Analysis and Research, Finance Staff. Technology is strong now, so maybe it’s a good time to get some more training if you need it. Mortgage broker Steve Curnutte, quoted in a Times Picayune article by Kate Moran, says “Entrepreneurs with a background in technology are perhaps best poised to make money and do some good during this period of financial upheaval.”
Conversely, avoid businesses in the industries hardest hit by the recent economic downturn: housing, construction, lending, banking, mortgages, and investing.
Take stock of your current skills, talents, and credentials
To get going with the most momentum, you should look for opportunities that are related to your professional experience or some area that you already know well so that you don’t have to start at the bottom with both knowledge and contacts. If you do stay in your current field, however, make sure that you’re not violating any non-compete agreements that you’ve signed with former employees.
Misfortune creates opportunity
Sadly, this is very true. After a hurricane devastates an area, for instance, there is tremendous opportunity for builders, carpenters, and anyone who can help those home and property owners who want to rebuild and repair and get back to normal again as soon as possible. When there is fire and smoke damage, companies who specialize in helping homeowners recover will benefit. When a bank must foreclose on a property and a family has to leave, there is opportunity for someone to be hired to come in and spruce up the house to get it ready to rent or put back on the market. We even heard a very ugly story of a unique opportunity that occurred when families who were evicted caused so much malicious damage to homes that crews were hired to come in and clean up broken glass and damaged property.
Look for Trends
One way to look for opportunities is to consider trends in society. The recent economic downturn will probably put an end to the “Bigger is Better” trend that has been going on for decades. Undoubtedly people will start downsizing and there will be more emphasis on value than on excess. People will be trying to simplify their lives. If you can help them do this, you may have a great business opportunity.
Another Trend is towards Conservation. “Green” practices are gaining in popularity and are likely to continue as resources get more scarce and people become more informed about the importance of conservation. Look for opportunities to sell products or services or consulting to help people make smart, energy-efficient decisions for themselves and their families.
As health insurance costs skyrocket and people live longer, Americans are expected to take more and more responsibility for their own health and wellness. If you can teach people how to get healthy and stay healthy – or sell them products or information that can do this – you may be able to take advantage of this trend. Trend watcher Gerald Celente calls this the “Heal Thyself” trend.
Good Expenses…Bad Expenses
Rieva Lesonsky, former editor-in-chief of Entrepreneur and author of Start Your Own Business, suggests that when starting a business in tough times, you should avoid unnecessary costs until your cash flow is sustainable. Work from home and use public places for meetings whenever possible to avoid the cost of renting space. Use furniture and equipment you already own instead of buying or leasing new, and if you must have something else, look for used equipment. Avoid expensive marketing and try to turn your customers into marketing ambassadors by making them happy and rewarding them for referrals.
There are some areas in which you do not want to scrimp and where your money is well spent. These include:
• Paying for legal advice to set up your new business as a limited liability company (LLC) so your personal assets won’t be at risk.
• Getting health insurance through COBRA from your last job, through your spouse’s employer, through AARP, or through a trade organization.
• Putting up a professional looking Website.
• Making a business plan. Lesonsky recommends Business Plan Pro (http:/www.bplans.com).
Yes, times are tough, but with the right attitude and some serious thinking and research, it could be the best time to start a new business.
If you have been dreaming and planning to start your own business, you may be tempted to put those dreams and plans aside in the wake of all the terrible economic news you’re hearing on television and radio. Wall Street seems to be imploding, banks are failing, unemployment is skyrocketing, businesses are laying off workers, and bad economic news seems to be the order of the day. Your friends and family may be discouraging you from going out on your own right now. What should you do?
A Reality Check is in order: Choose wisely
This is not the time to be unrealistic about your plans or frivolous with your or your family’s money. If you are still employed elsewhere, take the time to research your entrepreneurial interests carefully, test your market, make sure you have the necessary capital, and try, if you can, to start out on a small scale or part time before committing full time.
Service businesses usually require much less overhead than retail or manufacturing businesses, and they are often much more easily run from your home. Think about the area where you live, what the demographic make-up of your area is, and what the needs are of your neighbors and people like you. What kinds of things would you pay someone else to do to make your life easier? In many areas, senior citizens are a rapidly growing age group, often with disposable income. They have many needs, from transportation to help with cleaning, shopping, and personal needs. Your business niche might be to meet one of those needs.
If you are still considering different types of businesses, consider industries that are known to withstand economic downturns. Conduct an internet search for “Recession Proof Jobs” and you’ll get lots of ideas. While this will pull up employment opportunities, it will get you thinking about industries that still have money and cash flow. Perhaps you could come up with a business idea that services some aspect of these industries or those that work in these industries. Consider these: Sales Reps, Software Design, Nursing, Accounting Executives and Staff, Networking and Systems Administrators, Administrative Assistants, Business Analysis and Research, Finance Staff. Technology is strong now, so maybe it’s a good time to get some more training if you need it. Mortgage broker Steve Curnutte, quoted in a Times Picayune article by Kate Moran, says “Entrepreneurs with a background in technology are perhaps best poised to make money and do some good during this period of financial upheaval.”
Conversely, avoid businesses in the industries hardest hit by the recent economic downturn: housing, construction, lending, banking, mortgages, and investing.
Take stock of your current skills, talents, and credentials
To get going with the most momentum, you should look for opportunities that are related to your professional experience or some area that you already know well so that you don’t have to start at the bottom with both knowledge and contacts. If you do stay in your current field, however, make sure that you’re not violating any non-compete agreements that you’ve signed with former employees.
Misfortune creates opportunity
Sadly, this is very true. After a hurricane devastates an area, for instance, there is tremendous opportunity for builders, carpenters, and anyone who can help those home and property owners who want to rebuild and repair and get back to normal again as soon as possible. When there is fire and smoke damage, companies who specialize in helping homeowners recover will benefit. When a bank must foreclose on a property and a family has to leave, there is opportunity for someone to be hired to come in and spruce up the house to get it ready to rent or put back on the market. We even heard a very ugly story of a unique opportunity that occurred when families who were evicted caused so much malicious damage to homes that crews were hired to come in and clean up broken glass and damaged property.
Look for Trends
One way to look for opportunities is to consider trends in society. The recent economic downturn will probably put an end to the “Bigger is Better” trend that has been going on for decades. Undoubtedly people will start downsizing and there will be more emphasis on value than on excess. People will be trying to simplify their lives. If you can help them do this, you may have a great business opportunity.
Another Trend is towards Conservation. “Green” practices are gaining in popularity and are likely to continue as resources get more scarce and people become more informed about the importance of conservation. Look for opportunities to sell products or services or consulting to help people make smart, energy-efficient decisions for themselves and their families.
As health insurance costs skyrocket and people live longer, Americans are expected to take more and more responsibility for their own health and wellness. If you can teach people how to get healthy and stay healthy – or sell them products or information that can do this – you may be able to take advantage of this trend. Trend watcher Gerald Celente calls this the “Heal Thyself” trend.
Good Expenses…Bad Expenses
Rieva Lesonsky, former editor-in-chief of Entrepreneur and author of Start Your Own Business, suggests that when starting a business in tough times, you should avoid unnecessary costs until your cash flow is sustainable. Work from home and use public places for meetings whenever possible to avoid the cost of renting space. Use furniture and equipment you already own instead of buying or leasing new, and if you must have something else, look for used equipment. Avoid expensive marketing and try to turn your customers into marketing ambassadors by making them happy and rewarding them for referrals.
There are some areas in which you do not want to scrimp and where your money is well spent. These include:
• Paying for legal advice to set up your new business as a limited liability company (LLC) so your personal assets won’t be at risk.
• Getting health insurance through COBRA from your last job, through your spouse’s employer, through AARP, or through a trade organization.
• Putting up a professional looking Website.
• Making a business plan. Lesonsky recommends Business Plan Pro (http:/www.bplans.com).
Yes, times are tough, but with the right attitude and some serious thinking and research, it could be the best time to start a new business.
Self employment the ultimate carrier
Swimming Pool Promotion:
Imagine the casual elegance of working from your swimming pool gazebo. So what if you’re among those who have lost their job in all the cuts going on in the workplace? You will say, “This is terrible. Over 500,000 jobs are being cut every single week in the US; I need a job, not a swimming pool.” Yes you do, but think about the potential opportunity you have to look around and see if a new career is in order for you. It is always the right time to become an entrepreneur and work for yourself—if you aren’t working anyway, what better thing to do than see if there is some way you can hire yourself.
During this turbulent economic period, we will seize every opportunity to show you some businesses or service niches that could interest you and become your next career. Any home-based business offers the chance to work your business just like a large corporation from anywhere in your home, from swimming pool, to bedroom, or your kitchen table. In this article are home-based operations ranging from pet sitting, through virtual assistants, to installing custom shelves and storage areas. They all offer you a promotion from your office cubicle to your own swimming pool. See if one of these fits your situation.
Fetch!PetCare
This company, Fetch!PetCare, provides a new level of service to pet owners who often require pet sitting or pet walking duties. This is a franchise company, listed in the 2008 Inc. 5000, that is within the financial capability of many home-based entrepreneurs; the opportunity is discussed later. The pet industry is number six among the fastest growing in the US, with sales forecast this year at $43.4 billion. The company uses a network of over 3,800 pet sitters. With these numbers they are able to offer on-demand emergency sitters almost anywhere they are needed to provide in-home services if customers want it. The pet business is thriving because, as the CEO of Fetch!PetCare says, "Pets don't know that we are in an economic downturn.”
To be approved for a franchise, you must have a strong credit history and a minimum liquid financial net worth of $15,000. Additional required investment varies by what your business strategy is.
A possible example is:
Initial franchise fee: $12,000
Training, advertising, and equipment: $8,295 to $24,500
Total Investment: $20,295 to $36,500
This is an attractive and inexpensive franchise for these rough times. It requires a low investment, you have a lot of on-call help so you don’t kill yourself trying to take care of your customers, and there is lots of repeat business. In addition to sitting services, there is a store offering pet and people clothes and many other accessories and supplies—another way for you to make money from the same customer base for whom you provide other services. The company provides no financing, but they will help you find sources of money through a list of microloan lenders in your state; you can see this list here.
Virtual Assistants (VAs)
VAnetworking is the largest Virtual Assistant Networking Association business network for aspiring and successful Virtual Assistants and Virtual Achievers to share, learn, and succeed! Membership is free and there are currently just under 11,000 registered members.
The Alliance for Virtual Businesses defines Virtual Assistants this way: “Virtual Assistants (VAs) are independent entrepreneurs providing professional administrative, creative, managerial, technical, business office and/or personal support services. VAs use the most advanced means of communication, and the newest and most efficient and time saving office products and work delivery, regardless of geographic boundaries. Virtual Assistants work from their own offices, on a contractual basis, and abide by an established Code of Ethics requiring integrity, honesty and due diligence.”
When VAs first came to the Internet, there was some reluctance by business owners to use these assistants. Many years have passed since then, and the fine assistants are totally accepted almost everywhere. They are not only for Internet businesses; brick and mortar operations can use them as well. No matter where you do business, a VA can cut employee costs and free the owner’s time to run the business instead of performing repetitive daily duties.
Here is a chart comparing a full time employee with a VA, which shows there may be a cost saving over $60,000:
COST COMPARISON Full-time
Employee Virtual Assistant
Hourly Rate of Pay $20 $35
Fringe Benefits @ 35%
(Health/Dental/Life Insurance, Retirement Plans) 7 None
Overhead Rate @ 50%
(Office Space, Equipment & Office Supply expense, UI Insurance, Worker's Compensation, Overtime Pay, Administration Costs) $10 None
Total Effective Rate of Pay $37 $35
Hours Per Year 2080 hrs. 480 hrs.
Total Annual Labor Cost $76,960.00 $16,800.00
This potential saving is possible because Virtual Assistants are usually more experienced, more efficient, and better connected than the employee. This means an employer needs to devote far less time to a project to get the same results, only 480 hours a year versus 2,080 for the new employee. Also, with a Virtual Assistant, pay is only for the time on a task by the minute, not for the whole day whether you have enough work for them to do or not! No more paying for socializing, hour long lunches, or frequent trips to the washroom. An employee's eight hour day can be crunched into 3-4 hours with a Virtual Assistant. With these savings, it is no wonder VAs are in continuing demand.
This business requires a minimum investment and just the normal equipment for a home office. Certification adds credibility but is not legally required. Build up a client list, which should be fairly easy in most places because a lot of business owners still don’t know about VAs. If you do your job of telling about these important workers, you will have no trouble building your business. To learn more about starting a VA business, you may want to invest in this VAnetworking e-book (http://virtualbusinessstartups.com/) telling exactly how to use their system to start your own virtual assistant business. Or do your own online research and learn more about this potentially lucrative career.
MyBargainBuddy.com
This is a business that started as a hobby, but turned out to be a very lucrative income stream. This site was developed by a stay-at-home mom. MyBargainBuddy.com has a well-designed home page which displays everything there is on the site. This includes special products, vendors, and coupons. It’s all there right before your eyes as you enter the home page.
The owner explains how she developed this profitable Website. Study what she did, and you may realize exactly how to develop a winner of your own. Here’s the story from the owner herself:
My name is Karen Hoxmeier. I own and operate MyBargainBuddy.com. As a stay-home mom with 3 kids, I've always been a bargain hunter and a coupon clipper. When I got my first computer in July of 1999, my ‘hobby’ spread to online shopping. I was surprised by all of the great deals I came across, products marked down 90%, coupon codes for $20 off or more, etc. I passed these deals along to my friends and family via e-mail.
In November of 1999, I came across a place called Homestead that allowed people to build their own free websites. No programming knowledge was required! If you could ‘drop and drag’ you could have your own website! I thought it would be fun to post my ‘finds’ on a webpage. I named my site ‘Karen's Finds’. It had about 4 pages of deals and coupon codes.
After a couple months, I discovered that Homestead sites were not compatible with WebTV and certain other web browsers. Another problem was that the pages looked different, depending on what browser you were using. A page that looked OK to one person would have pictures or text overlapping to another person. I decided to learn HTML code and move my site off Homestead.
I bought an HTML ‘how to’ book and did a little research online. After lots of trial and error, I made my own website! In January of 2000, I registered the name MyBargainBuddy.com. As time went by, I added more categories, pages, links, and offered a free email newsletter to my visitors. I never imagined my site would grow as much as it has. MyBargainBuddy.com has been featured on TV, radio, and in several newspapers and magazines.
Seven years later, I still love finding bargains. Helping others do the same is very rewarding. I enjoy hearing from people who use my website. That's what keeps me going! If you have a question, comment, or suggestion, I'd love to hear it!
Many hobby businesses don’t provide much income to their owners. Because this one does, the remarks above should be studied by anyone wanting to do this. There is also an affiliate program if you want to participate without having your own Website.
Accounts Receivables, Inc.
To remain profitable in a down economy, a business must keep its cash flow coming, especially since most banks won’t lend a dime right now. This company, Accounts Receivables, Inc., offers a full range of credit services from invoicing through any necessary collection duties, so it’s actually helping other businesses stay in business.
This company manages the entire cash part of the business from invoicing through posting of cash receipts; their clients are able to concentrate on their main business, knowing the life blood of the business—the cash flow—is continuing to operate in capable hands. The company specializes in professional services, retail, and the construction industry.
One way clients are helped is the WeCall™ Collection Program which attempts to keep outstanding balances from going beyond their due date using a non-aggressive telephone approach. This program starts at $199. There is also a third party collection service available if needed. All these programs are offered with a no collection/no fee policy. Fees are 30 to 40% in the US and Canada, 50% elsewhere.
If you are familiar with accounting or running a small business, this providing kind of service could be something profitable for your new career and a true lifesaver to lots of other businesses in your community.
XRoads Consulting
Many companies are beginning to contract out specialty services like recruiting. The owners of XRoads Consulting started in 2006 and specialize in recruiting and placement in technical positions. They say, "There are definite financial rewards to being home-based and not having the upfront overhead needed to start a business."
Services provided by this company are:
Technical Staffing
Project Managers
Vendor Management
IP Communications
Offshore Services
Their Website has a way for you to submit your resume to a Consulting Technical Recruiter, and their Resources page contains interviewing and resume preparation tips. You may also talk directly with a Technical Recruiter.
This is a business that is meant to be home-based. Many of you have sent myriads of resumes and had dealings with Human Resources at a company where you worked. If recruiting sounds interesting, and you like to interact many different kinds of people, becoming a recruiting consultant could be for you. Helping others find their dream job could be very satisfying. If you have writing skills and can help them write their resume too, you have another offering to add.
ShelfGenie
Some of the few people making money in the terrible housing market today are those who repair, recondition, or improve the livability of existing homes people have decided to live in rather than try for a sale. One such company is ShelfGenie involved with making custom shelving units.
This company offers franchises for $80,000 to about $128,000. As an owner you get home office training in sales and management. Customer appointments may be made by telephone or directly online. The appointment is for a design representative to visit the customer’s home and make recommendations for using the pre-built units made by ShelfGenie. These stock units are modified to the customer’s needs and well trained installers put them in place. The franchise owner does not have to be a skilled carpenter to operate this business—they just need to know how to contact home owners and sell them on the idea of improving the usefulness of shelves and cabinets throughout the home.
Conclusion
Faced with the stark reality of losing your job, it will help you make better decisions if you just sit and think logically about the future. High on the list will be some way to start the money flowing again. It may be time to consider working for yourself in the relaxed atmosphere of your home. If you ever get fired again it will be because of something you did, not because of an arbitrary management decision.
Imagine the casual elegance of working from your swimming pool gazebo. So what if you’re among those who have lost their job in all the cuts going on in the workplace? You will say, “This is terrible. Over 500,000 jobs are being cut every single week in the US; I need a job, not a swimming pool.” Yes you do, but think about the potential opportunity you have to look around and see if a new career is in order for you. It is always the right time to become an entrepreneur and work for yourself—if you aren’t working anyway, what better thing to do than see if there is some way you can hire yourself.
During this turbulent economic period, we will seize every opportunity to show you some businesses or service niches that could interest you and become your next career. Any home-based business offers the chance to work your business just like a large corporation from anywhere in your home, from swimming pool, to bedroom, or your kitchen table. In this article are home-based operations ranging from pet sitting, through virtual assistants, to installing custom shelves and storage areas. They all offer you a promotion from your office cubicle to your own swimming pool. See if one of these fits your situation.
Fetch!PetCare
This company, Fetch!PetCare, provides a new level of service to pet owners who often require pet sitting or pet walking duties. This is a franchise company, listed in the 2008 Inc. 5000, that is within the financial capability of many home-based entrepreneurs; the opportunity is discussed later. The pet industry is number six among the fastest growing in the US, with sales forecast this year at $43.4 billion. The company uses a network of over 3,800 pet sitters. With these numbers they are able to offer on-demand emergency sitters almost anywhere they are needed to provide in-home services if customers want it. The pet business is thriving because, as the CEO of Fetch!PetCare says, "Pets don't know that we are in an economic downturn.”
To be approved for a franchise, you must have a strong credit history and a minimum liquid financial net worth of $15,000. Additional required investment varies by what your business strategy is.
A possible example is:
Initial franchise fee: $12,000
Training, advertising, and equipment: $8,295 to $24,500
Total Investment: $20,295 to $36,500
This is an attractive and inexpensive franchise for these rough times. It requires a low investment, you have a lot of on-call help so you don’t kill yourself trying to take care of your customers, and there is lots of repeat business. In addition to sitting services, there is a store offering pet and people clothes and many other accessories and supplies—another way for you to make money from the same customer base for whom you provide other services. The company provides no financing, but they will help you find sources of money through a list of microloan lenders in your state; you can see this list here.
Virtual Assistants (VAs)
VAnetworking is the largest Virtual Assistant Networking Association business network for aspiring and successful Virtual Assistants and Virtual Achievers to share, learn, and succeed! Membership is free and there are currently just under 11,000 registered members.
The Alliance for Virtual Businesses defines Virtual Assistants this way: “Virtual Assistants (VAs) are independent entrepreneurs providing professional administrative, creative, managerial, technical, business office and/or personal support services. VAs use the most advanced means of communication, and the newest and most efficient and time saving office products and work delivery, regardless of geographic boundaries. Virtual Assistants work from their own offices, on a contractual basis, and abide by an established Code of Ethics requiring integrity, honesty and due diligence.”
When VAs first came to the Internet, there was some reluctance by business owners to use these assistants. Many years have passed since then, and the fine assistants are totally accepted almost everywhere. They are not only for Internet businesses; brick and mortar operations can use them as well. No matter where you do business, a VA can cut employee costs and free the owner’s time to run the business instead of performing repetitive daily duties.
Here is a chart comparing a full time employee with a VA, which shows there may be a cost saving over $60,000:
COST COMPARISON Full-time
Employee Virtual Assistant
Hourly Rate of Pay $20 $35
Fringe Benefits @ 35%
(Health/Dental/Life Insurance, Retirement Plans) 7 None
Overhead Rate @ 50%
(Office Space, Equipment & Office Supply expense, UI Insurance, Worker's Compensation, Overtime Pay, Administration Costs) $10 None
Total Effective Rate of Pay $37 $35
Hours Per Year 2080 hrs. 480 hrs.
Total Annual Labor Cost $76,960.00 $16,800.00
This potential saving is possible because Virtual Assistants are usually more experienced, more efficient, and better connected than the employee. This means an employer needs to devote far less time to a project to get the same results, only 480 hours a year versus 2,080 for the new employee. Also, with a Virtual Assistant, pay is only for the time on a task by the minute, not for the whole day whether you have enough work for them to do or not! No more paying for socializing, hour long lunches, or frequent trips to the washroom. An employee's eight hour day can be crunched into 3-4 hours with a Virtual Assistant. With these savings, it is no wonder VAs are in continuing demand.
This business requires a minimum investment and just the normal equipment for a home office. Certification adds credibility but is not legally required. Build up a client list, which should be fairly easy in most places because a lot of business owners still don’t know about VAs. If you do your job of telling about these important workers, you will have no trouble building your business. To learn more about starting a VA business, you may want to invest in this VAnetworking e-book (http://virtualbusinessstartups.com/) telling exactly how to use their system to start your own virtual assistant business. Or do your own online research and learn more about this potentially lucrative career.
MyBargainBuddy.com
This is a business that started as a hobby, but turned out to be a very lucrative income stream. This site was developed by a stay-at-home mom. MyBargainBuddy.com has a well-designed home page which displays everything there is on the site. This includes special products, vendors, and coupons. It’s all there right before your eyes as you enter the home page.
The owner explains how she developed this profitable Website. Study what she did, and you may realize exactly how to develop a winner of your own. Here’s the story from the owner herself:
My name is Karen Hoxmeier. I own and operate MyBargainBuddy.com. As a stay-home mom with 3 kids, I've always been a bargain hunter and a coupon clipper. When I got my first computer in July of 1999, my ‘hobby’ spread to online shopping. I was surprised by all of the great deals I came across, products marked down 90%, coupon codes for $20 off or more, etc. I passed these deals along to my friends and family via e-mail.
In November of 1999, I came across a place called Homestead that allowed people to build their own free websites. No programming knowledge was required! If you could ‘drop and drag’ you could have your own website! I thought it would be fun to post my ‘finds’ on a webpage. I named my site ‘Karen's Finds’. It had about 4 pages of deals and coupon codes.
After a couple months, I discovered that Homestead sites were not compatible with WebTV and certain other web browsers. Another problem was that the pages looked different, depending on what browser you were using. A page that looked OK to one person would have pictures or text overlapping to another person. I decided to learn HTML code and move my site off Homestead.
I bought an HTML ‘how to’ book and did a little research online. After lots of trial and error, I made my own website! In January of 2000, I registered the name MyBargainBuddy.com. As time went by, I added more categories, pages, links, and offered a free email newsletter to my visitors. I never imagined my site would grow as much as it has. MyBargainBuddy.com has been featured on TV, radio, and in several newspapers and magazines.
Seven years later, I still love finding bargains. Helping others do the same is very rewarding. I enjoy hearing from people who use my website. That's what keeps me going! If you have a question, comment, or suggestion, I'd love to hear it!
Many hobby businesses don’t provide much income to their owners. Because this one does, the remarks above should be studied by anyone wanting to do this. There is also an affiliate program if you want to participate without having your own Website.
Accounts Receivables, Inc.
To remain profitable in a down economy, a business must keep its cash flow coming, especially since most banks won’t lend a dime right now. This company, Accounts Receivables, Inc., offers a full range of credit services from invoicing through any necessary collection duties, so it’s actually helping other businesses stay in business.
This company manages the entire cash part of the business from invoicing through posting of cash receipts; their clients are able to concentrate on their main business, knowing the life blood of the business—the cash flow—is continuing to operate in capable hands. The company specializes in professional services, retail, and the construction industry.
One way clients are helped is the WeCall™ Collection Program which attempts to keep outstanding balances from going beyond their due date using a non-aggressive telephone approach. This program starts at $199. There is also a third party collection service available if needed. All these programs are offered with a no collection/no fee policy. Fees are 30 to 40% in the US and Canada, 50% elsewhere.
If you are familiar with accounting or running a small business, this providing kind of service could be something profitable for your new career and a true lifesaver to lots of other businesses in your community.
XRoads Consulting
Many companies are beginning to contract out specialty services like recruiting. The owners of XRoads Consulting started in 2006 and specialize in recruiting and placement in technical positions. They say, "There are definite financial rewards to being home-based and not having the upfront overhead needed to start a business."
Services provided by this company are:
Technical Staffing
Project Managers
Vendor Management
IP Communications
Offshore Services
Their Website has a way for you to submit your resume to a Consulting Technical Recruiter, and their Resources page contains interviewing and resume preparation tips. You may also talk directly with a Technical Recruiter.
This is a business that is meant to be home-based. Many of you have sent myriads of resumes and had dealings with Human Resources at a company where you worked. If recruiting sounds interesting, and you like to interact many different kinds of people, becoming a recruiting consultant could be for you. Helping others find their dream job could be very satisfying. If you have writing skills and can help them write their resume too, you have another offering to add.
ShelfGenie
Some of the few people making money in the terrible housing market today are those who repair, recondition, or improve the livability of existing homes people have decided to live in rather than try for a sale. One such company is ShelfGenie involved with making custom shelving units.
This company offers franchises for $80,000 to about $128,000. As an owner you get home office training in sales and management. Customer appointments may be made by telephone or directly online. The appointment is for a design representative to visit the customer’s home and make recommendations for using the pre-built units made by ShelfGenie. These stock units are modified to the customer’s needs and well trained installers put them in place. The franchise owner does not have to be a skilled carpenter to operate this business—they just need to know how to contact home owners and sell them on the idea of improving the usefulness of shelves and cabinets throughout the home.
Conclusion
Faced with the stark reality of losing your job, it will help you make better decisions if you just sit and think logically about the future. High on the list will be some way to start the money flowing again. It may be time to consider working for yourself in the relaxed atmosphere of your home. If you ever get fired again it will be because of something you did, not because of an arbitrary management decision.
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