Like millions of people around the world, over the past few months you’ve given some thought to ensuring your economic survival. How to make money is at the top of the list for many and we’re all exploring our options. A yard sale or two can help in the short run, but most of us need a steady and healthy income stream.
Polishing up your resume might no longer be a viable option, given that employment statistics have been dismal for several consecutive quarters and the global economy continues to shed jobs. What little employment exists tends to be at at the bottom of the pay scale.
This cruel reality has lead some of us to decide what the heck, I’ll go out on my own. I’ll start a business or become a Freelancer and do some consulting. That’s why I went out on my own. Employers did not give a damn about transferable skills, work ethic, strategic thinking or anything else.
All they knew was that I was too expensive to hire (or keep) and so they didn’t. To have a roof over my head and food on the table I had no choice but to become a Freelancer. Thank God I had a few desirable skills that I eventually learned how to package and market!
This blog is all about sharing knowledge and experience as a way to help readers become more successful Freelancers, business owners and even employees. My objective is to help you avoid time-wasting mistakes and obstacles and get you into your definition of success, faster.
First of all, becoming an entrepreneur requires objective thinking and creativity. You’ll need to take a cold hard look at your skill set and figure out what you can possibly do. Next, you need to analyze the marketplace. Who will pay for the product or service that you’re able to offer? Does it appear that you can eventually persuade enough clients to pay you enough money to live on?
Also, what relationships can you rely on to help ease your way into the business—refer clients, provide expert advice, hook you up with good deals on equipment or a space to set up shop?
Oh, and BTW, can you afford the start-up costs? Every business requires up front money to get rolling, so the financial requirements of the business you choose need significant consideration. Banks are making very few loans these days and those who do get funded have near perfect credit.
On the upside, going out on your own during a difficult economic cycle can be a smart move. The economy will force you to distinguish between the magical thinking of an intriguing idea and a real business opportunity. You’ll be in the planning and learning stages while the economy lags. When the inevitable upswing comes around, you’ll be prepared to take advantage and make some money.
Over the next few weeks, I’ll help you take a look at a few basic things you’ll need to consider before you take the leap.
Much more later,