Friday

Hey guys – the stimulus package is said to take place April 1st!! What does that mean? …I’m glad you asked, and since I couldn’t decipher it myself – I thought I’d send you the link to “Howcast”, which does an excellent job of breaking it down! Please click HERE!

Some people agree with the package, and as you well know – some just don’t! …and rather than sit and wait, I am challenging myself to design my own stimulus plan! (better late than never, right?) That said, isn't it time to just "DO YOU"?

With this unstable economy & thousands of people being laid off; surprisingly enuf, a lot of people are trying to find their passion. A passion that would lead to financial freedom, like starting their own business to support their family. “…what’s trendy now, what’s hot, what service can I exploit to make ends meet?” I read on a trucking website (and no, I ain't surfin' those sites), that… regardless of which method you choose to create sustainable self-employment, the alternatives boil down to about three types of businesses - (1) manufacturing, (2) services, or (3) professions.

Manufacturing is normally burdened with heavy start-up costs. Services, as well, can be expensive depending upon the equipment and facilities required. For professions, many require licenses that establish credibility for entering the field.

The key to start with a bare-bones situation is to find a realistic home based business that does not require employees or inventory or any other huge start up costs. There are thousands of opportunities such as these but some are more realistic than others.

Now, I didn’t write that article, but it definitely gives you something to think about; whether you're affected by our rickety economy or you've lost your job altogether. Personally, I find all three options attainable, but which one do I go with first...

comments appreciated.

1 Comments:

Anonymous Anonymous said...

I say look at what you already know how to do and how could YOU specialize it to make it unique for your potential customers. Many of us are already doing something that someone else would really appreciate. Now the key is to refine it and then set up the foundation for your business. Allow room to grow (too often businesses fail because they didn't include a growth plan) Licenses...yes they are time consuming and sometimes expensive however there are places (you gotta search for them) that offer training classes towards them sometimes for nominal fees and sometimes for FREE. Check out the Worksource etc for leads.

When I was laid off years ago I did this "plan" and I approached it like this... If I got a call after a month for 9-5 employment could I still do this on the side? OR better yet can I get employees or contract someone(s) to continue the services? Then this becomes RESIDUAL money. IT keeps building and you don't have to be tied to it. Once you decide to really do your own thang...make sure you enlist a cpa to guide you. NO sense in loosing your head or your belongings because you didn't know how to manage your earnings.

hope that helps.

Mon Mar 02, 11:03:00 AM  

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