Thursday, 15 September 2011

How to Survive a Bad Economy

You're out of work. Your husband (or wife or roommate) is about to become unemployed too. You are getting unemployment compensation, but that's not enough to pay the rent (or mortgage). You can't find a job and your friends can't help because they aren't any better off than you. Now what? How do you survive in a bad economy?

Sound familiar? It's going on throughout much of the world, not just in your neighborhood. What can you do? How can anyone, anywhere, survive in a bad economy? The government can't help. The government probably created the bad economy in the first place.

Well, in the United States, and in much of the rest of the world, it is still possible to be an entrepreneur. That's right; be an entrepreneur. You can start and run your own small business. Many people before you have been able to survive in a bad economy in exactly that way; not only survive, but also prosper.

Since my experience and knowledge is mostly about the U.S., this article refers mainly on the U.S. The U.S. has a very strong entrepreneurial tradition. However, I do know that most of this information can be used in many other countries as well. Canada, Great Britain, India, China Australia, Italy and Russia have entrepreneurs also.

One of the problems with becoming a small business person is that government education doesn't prepare you for it. No, in today's socialist thinking countries, government education leans toward preparing you to becoming government employees or welfare recipients. They want you to rely on the government to survive in a bad economy. Besides, they'll tell you that things aren't so bad. Just "vote for me; I'll take care of you."

So, if you don't have an entrepreneurial education, how do you learn to start your own small business? Besides, don't businesses cost money to start?

Let me answer the second question first. Not all small businesses cost a lot of money to start. In fact, you can start some small home-based businesses with resources you already have; maybe just some of your time; maybe just your sewing machine or kitchen; maybe just your computer.

Now, back to that first question; "How do I learn to start my own small business?" Okay, let me give you a few quick answers:

Find someone who is already doing it and learn from them. Flattery could be helpful here. "I see you are successfully running a business. Do you think you could teach me? I'd be willing to work for you (maybe for free) and I promise not to go into competition against you." That's just one thought about how to go about it.
Read about starting businesses in libraries or on the internet.
In most cases, there are great e-books and courses available for purchase that can save you months, or even years of trial and error experience. Many of these resources have been created for you by people who have already done what you are trying to do. The investment in your education is well worth it so you won't have to reinvent the wheel.
Get your own direct experience. Once you get some knowledge, make a plan and get out there and do it. In many cases, your first one or two attempts won't be real successful, but the experience of doing, win or lose, it will end up being your best education. I know of successful business people who have had a dozen or more "failures" before becoming wealthy and successful. Experience is a great teacher.
Make a plan - even a quick plan - and get started. The biggest secret is to GET STARTED. Too many people think themselves to death and never accomplish anything.

What can you do to get started? Start by making a list of things you can do. Make that list as long as you can. Somewhere on that list could be your new business. Think not? I know a guy who started a local car service by taking non-drivers to their doctor appointments and to and from the airport.

What can you do? Can you teach young mothers to sew new clothes for their children? Can you give music lessons? Can you run errands for home-bound seniors? Look around you and look at your own knowledge.

Still can't think of anything? I know one guy who drove his pickup truck out to cattle farms and found someone willing to let him take some cattle manure. Yep, he made a business out of manure, selling it as fertilizer to home owners in the city. Find something and start doing it, today. You can improve on it tomorrow.

by : Mel Weiss

No comments:

Post a Comment