techsnoopThe true economic jobs plan is for those with the drive and skills to start their own business.  Many businesses can be started and run from any location and with low start up costs.  Laptops, netbooks, tablets and smartphones all keep business owners connected and productive.  24/7 technology and the Internet also make it possible to do business worldwide no matter where you are.

The first thing to consider when starting a business is if you really love what you will be doing.  Running a business is not for those who like to punch out at the end of 6 or 8 hours.  Reducing your personal expenses to the bare bones and dropping any cash sucking distractions can further make starting your own business a reachable venture.  A business will consume almost all your time and take creative planning just to fit in family obligations.  If you don’t absolutely love your business, you will not be successful.

Next, do you have the skills or resources to start and run a business?  You may love to bake and make the best pound cake in the world, but if you cannot make your kitchen meet food service code, no successful bakery can be produced from home.  Renting or leasing an existing building will make this dream out of reach.

Can you make enough to support yourself and/or your family while the business gets going?  This is critical as every business takes some funds to operate, even without the overhead of office space.  Make a strict budget for 3 months at a time.  Every 3 months, treat yourself to something that was cut out of the budget.  This gives enough breathing room and reward to keep you on track.

Come back next week for more start up tips.

Advertisements