Going to Work While Working for Yourself
It would be wonderful to be able to spend every waking hour of everyday to work on starting our own businesses. If we all had enough money to cover our daily expenses while trying to build our empire, the number of entrepreneurs would probably triple (don’t quote me on that). The fact of the matter is, most of us have to learn how to balance our daily lives, while trying to figure out how to come up with the capital to get the inventory or supplies we need, to get our feet off the ground.
I must admit, this is still sometimes a struggle for myself, but after some triumphs and some failures, I’ve come across some ways to achieve the goal of taking care of my daily life while building my inventory.
1. Start small – you don’t have to spend thousands of dollars to get started. Start small. If you have only have $50 to spare on inventory or supplies, buy as much as you can with that $50. This way, you can start to build without killing your pockets.
2. Make a Budget – This may seem obvious, but this is not something we always think about. In order to stay above water in our daily lives, we have to create budgets to keep an eye on our savings and our spending habits. Creating a budget for your business helps to keep surprises at bay. It may also help you prioritize other expenses as well. You’re keeping an eye on your spending, saving for your purchases, and preparing yourself for future expansion. Budgeting will have nothing but a positive impact on your business.
3. Inventory obtained, now how do I get the message out there? Friends, Family and Flea Markets – To be completely honest your customer base will start small unless you’ve already done the footwork to get the word out about your business – and even then, your customer base may not be as big as you would like it to be. The reason I say start off with Friends, family and flea markets is because these are markets where you can get active feedback and active reactions to the products you’re attempting to offer. You can also play around with pricing based on that feedback.
4. Stay Vigilant. Starting up can be an extremely slow process, as well as a disappointing one. Do Not Give Up! If this is something that you are really serious about, if this is your dream, if you want to be your own employer, don’t give up. Big returns come from taking big risks, and to truly be successful it will take dedication and some sleepless nights. Understand that you will not make profits right away – you’ll lose money initially. Once the profits start coming in, remember to focus on quality and your customer and you will be successful.