Starting your own business is one possibility to consider when looking for ways to make more money.
There are a variety of options – storefront businesses, e-businesses, mail order businesses, franchises, distributorships, import-export and manufacturing – but I want to talk about home-based businesses.
When considering this option, start by taking inventory of your interests, hobbies, special abilities and skills.
Also, think about the things that you absolutely love doing, things that you could spend hours doing and don’t realize where the time has gone. For some people it can be woodworking, writing, sewing, cooking, gardening, painting, flower arranging or crafting. Some people love animals, refinishing antiques or working on vehicles.
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Think about how these interests, aptitudes and hobbies can help you make money doing what you love in your own home.
Numerous courses are available on-line or in your local community that can teach a new skill in a few weeks or expand in an area you already enjoy.
Those interests can be transformed into businesses that provide services in special event planning, home care, entertainment, health care or custom sewing. More specifically, you could start a home-based business in child care, catering, pet grooming, auto repair, detailing, greenhouse, animal breeding, teaching music, computer repair or art and craft shows.
If you are still uncertain of the direction best suited to you, seek professional coaching or find a do-it-yourself guide to help get on the right track.
Sit down with a couple friends or family members and brainstorm. Determine the following:
- Where will I work?
- How much time do I have?
- How much time do I need?
- Do I work with a partner or alone?
- How much money do I need?
- How will this affect the family or others involved in my life?
- What are my insurance needs?
If you are running a business, you will need to investigate provincial and federal requirements, as well as municipal regulations that may apply.
Above all, prepare a business plan.
Your local library or internet resources can assist you with your research. Many communities have economic development centres that are full of information to assist you.
Therri Papp is a career development educator offering on-line personal development programs and career consulting to individuals and business groups. For further information call 306-249-4937 or visit www.freeyesinfo.com.
