Clicking on any of the ideas will bring up the information on all of them. I have doubts about some of the income potentials that he lists, and I suggest you do additional research before starting any of them. A couple of paragraphs is not enough to adequately describe how to earn money on these endeavors or the problem you may face. For instance, blogs need to have advertisers or merchandise for sale, zoning laws may prevent you from having yoga classes in your garage or doggy daycare on your property. Anyone can call themselves a coach, using Udemy a 10-hour course may provide you with a certification, but all you have is information and handouts. Little or nothing is said about the listening skills and powerful questions that credentialed coaches use.
If you are looking to make some money though, you can certainly use this list to jump start your own creativity.
Are you a Reluctant Halfpreneur? You’ve never wanted to start your own business. You like working for someone else. There are benefits, a stable paycheck, and people who you enjoy working with. Start your own business! No way!
Then …… Management changed and your position changed too, and not for the better. Perhaps you are a parent and you have lost the flexibility to come in early so you can leave early for your children’s sporting events. Or, the handwriting is on the wall – your job or your whole company is at risk and local opportunities for someone with your skill set are nil. Or you thought that your career was secure for the next 5, 10, 15 years, but now you are over 55 and out of work. The odds of finding another comparable position in your field are slim. Not impossible, but all the government and business statistics warn that it will take you much longer to find a job than it will for a 40 year old. Part-time at fast food service or retail sales is not what you have in mind when your unemployment compensation runs out.
If your experience does not immediately translate into something you can start your own business in and it is important to you that you work at something professional, with a potential for good pay, and offers the opportunity to interact with interesting people, where do you look for ideas. There are some career and life coaches that specialize in working with individuals in the position that you find yourself and be able to help you find your passion. Before going the coaching route, here are two more reasonably priced options.
Look over the catalogs for your local colleges, especially community colleges. Take a look at what is being offered in certificate programs and in their noncredit programs. These offerings will indicate what may be in demand in your community. You may want to earn a certificate or take a course or maybe you have the background to make the transition into this new field. Employment or self-employment in this new field may be possible.
Visit http://www.entrepreneurbookstore.com. They sell two types of books: kits to help you start your own business that generally cost $69 and start-up books that retail around $18 – $22. The kits have business forms and worksheets and walk you through the entire planning process. The start-up books have plenty of information about the business and how to start it, but not the forms. If you are exploring your possibilities, the books are helpful. I purchased one recently thinking that it represented an area I could expand my current business into. Well, I could go that route, but I discovered that there were many aspects of this new business venture that would not be a good fit with my current life style. I got some ideas I might use so it was $19.99 well spent.
Since Entrepreneur Press is the publisher (my only affiliation with Entrepreneur magazine is that I subscribe to it) many of the kits and start-up books are appropriate for those with a professional or administrative background. Title include: Public Relations, Event Planning, Consulting, Freight Brokerage, Tutoring and Test Preparation, Executive Recruiting, Staffing, Online education, Import- Export, Home Inspection, College Planning Consultant.
Event Planning
If more than one idea interests you, research it further – interview someone who does this type of work; research your local market; talk to the former executives who staff your local SCORE office or visit or agencies (at colleges, Chamber of Commerce, Small Business Bureau) that assist those starting new businesses. Can’t narrow down your choices – a career coach or Profiting from Your Passions coach can help. Need guidance in setting up a business – consider a new business coach.
If you are considering going into business, you may want to consider having multiple streams of business. Having multiple streams means that you have more than one profit center. Now you may hold the belief that one should be focused and put all your effort into just one product of service. Being focused is necessary but most big businesses have a primary product or service and more than one profit center. Small businesses, too, can benefit from having more than one source of income in a changing economy.
There are at least three reasons to consider having multiple streams of business
Economic
You’ve chosen a business that can bring in only a certain amount of profit. You can write only so many resumes per week and then there are weeks when you have too few clients. There is a limit to how many dogs you can walk before and after your full-time job. You can only accept so many children into your popular after-school art classes. You love what you do; it brings in some income, but you are limited by time and/or space.
Growing Your Main Business
Developing new business streams might be a way to grow your main business so it brings in more money or to enables you to do it full-time. The resume writer can offer interview coaching or job search coaching, of publish an e-book or paper on Amazon on how to ace interviews. The dog walker might have a blog or website about dogs that has space available for advertising or that leads visitors to online retailers to purchase their products (affiliate marketing). The after school art teacher could do affiliate marketing of art and craft supplies for children or create a course (online or DVD) or a membership site for moms who want to learn how to teach art to their children. (Desired by moms that home-school and moms that are concerned because art is one of those subjects that cash-strapped school systems have eliminated from the curriculum) These ideas are all related to your core business but they provide another source of profit.
Variety
You need variety and change. You can’t see yourself focusing on one thing for the rest of your entrepreneurial life! So make or do the several things that you want to do. Maybe you will have a business for each season. Maybe you will blog about something you find fascinating and do affiliate marketing for a related product. Maybe you will write an e-book on how to do something and promote it with YouTube videos. You probably have more than enough creativity to pull this off.
Some of the above examples of streams are active and some are passive. Active income streams generally involve a trade of work for money, which means that your time is consumed. If you are already trying to do too much, you may want to consider a passive income stream because once they are set up they provide income without additional work contribution. Some passive income streams require significant money to start with, but significant cash is not needed to publish an e-book, start a membership site, become an affiliate marketer, or create apps.
So how can you identify what new stream of business you should try first or next? Barbara J. Winter in Making a Living Without a Job: Winning Ways for Creating Work that you Love offers a number of tips, that have been adapted for this blog.
Figure out what you want to do. Brainstorm, mind map, ask your friends and family what you do best. Then pick out one stream of income that you will be happy doing and put it at the top of your list. Prioritize any additional ideas that you might like to try later.
Estimate how much it will cost to put each of your priority business streams into operation. This step will most likely require some research. Interview people who are in a similar business, use the internet to find the wholesale cost of item you will need, make an appointment and talk to someone at the SBA (Small Business Association)
Estimate how much profit each of your potential streams will generate in the first year. You are looking for a realistic view of what your profit margin will be during your start-up.
Take a look at the analysis you have done on these business streams. Which will cost the least to start? Which will be more profitable? Do you have the time and energy to get the stream started?
The best solution is to choose the business that will make the most profit and cost the least amount of money to start.
In addition to the extra money, there are other potential benefits to part-time and full-time self-employment.
Meet interesting people. Usually your business takes you out into the world or brings interesting people into your office that you never would have met any other way.
Life-long learning. Learning is valued when you work for yourself. You get to decide what formal and informal learning is necessary for your success.
Ongoing personal growth. Your business will encourage you to keep growing and discovering new talents and wisdom.
Talent management. Self-discovery leads to finding your greatest assets and making the most of them.
Keep your imagination. You can continue to use your imagination and be rewarded for it. Your creativity will not just be useful it may be absolutely essential.
Better mental health. The research clearly shows that problem solving is better for you than complaining about things.
Longevity. Ongoing research is showing that self discovery, using our skills and talents, solving problems, and staying active especially if combined with less stress and less fast food often leads to a longer, healthier, life.
Learn personal responsibility. If your parents or teachers did not teach you this essential lesson, a business will.
Be a positive role model. If you follow your dreams, you set an example to your children and others. They make take inspiration from you without ever realizing it.
Live your passion and purpose. People want to be appreciated, useful, and know that their lives have meaning. Discovering your passion is often a prelude to finding your purpose. A life inspired by purpose means you have discovered what truly matters to you, makes you authentically happy, and allows you to serve others in great and small ways.
With the 2008 recession and it’s effects, self-employment, home-based businesses and an entrepreneurial spirit have emerging as an economic trend. This trend is not new, but it has accelerated in recent years with statistics now showing that 61% of all Americans want to start their own business (Parkinomics, 2010).
If you are in this 61%, how do you make the transition from employee to being your own boss? Websites, books, e-books, and magazines may be helpful or they may leave you absolutely confused. Is it as simple as find your purpose and the money will follow? Do you really need to talk to your lawyer, your accountant, the volunteers at SCORE and then develop a business plan, decide on the legal form your business will take, and choose a domain name before getting started?
It is NOT as simple as just find your passion and the money will follow, but with the Internet, businesses are easier to start than ever before. Of course, if you are buying a business or a franchise then your lawyer and accountant definitely should be involved!
“Businesses are easier to start than ever before!” What if you want your own business but you don’t know what you want to do or where to begin? Get started by considering the FIVE Ps: Passion, Purpose, Problems, People, and Part-Time. For many individuals Passion and Purpose go together. Although they are different issues, the Problems you will solve and the People you will target are related. Your business is YOUR business, and it is your choice as to whether to pursue it on a full-time or part-time basis. If you are just starting out, there are good reasons to begin Part-time.
Passion: Yes, you do need to discover your passions or passions. If you feel that you have no passions or that this word seems too strong, what about your interests, skills, abilities or talents? If you won a lottery that would pay you for life with just one stipulation that you had to “work” at something until you were at least 65, what would you do? Dream a little – If you had your own business what would you be doing? If you can’t envision what you would be doing, ask yourself – would I be working by myself or with others? Where would I be working – from my home? In an office? On a stage? Would I be writing, talking, painting, walking dogs, arranging flowers, designing solar homes? Start off dreaming and brainstorming. Don’t be concerned yet as to how this passion will make money. Figuring out how to monetize your passion is a later step.
Purpose: Do your feel that you have a mission in life? A calling? A purpose? Some career coaches and counselors believe that having a purpose is essential, but it may be that a purpose is only discovered after one has had some life experiences. At this point, maybe you just want to make money, and there are plenty of young wealthy Internet marketers who know that they don’t want to work 40 hours per week. Knowing your purpose may make it easier to discover your passion. Purpose is related to the sense that your life is fulfilling and abundant, but a stool can stand very well on three legs or four legs. You can start a business without knowing your purpose or mission in life.
Problems: Businesses exist because they solve problems. Fixing cars, computers, plumbing… providing food, toys, and electronics from other areas of the world… assisting people to heal from sickness, find jobs, train their dog… Successful business continue to exist because they solve problems better than others do. These businesses or individuals make promises and then they over deliver. The solutions they provide are bigger than the promise that they offer so customers repeatedly return. What problem or problems will you solve? What can you offer that no one else is offering? Try dreaming or brainstorming again or look around your community and to see if there are any problems that no one is trying to solve. Do you have the passion or expertise to solve it?
People: Who, what niche or market, has the problems that you will solve? Do they have a common interest or need such as they need to lose weight or they’re technophobic? Are they members of a particular demographic group – working parents, baby boomers, etc. How will you market to this target group? An important aspect of monetizing a passion is to know who needs or wants what you have. This means your target may not be individuals; rather it maybe small or large businesses who need what you are offering.
Part-time: If you still have a job, build your new career on the side. When it is established, you can jump into it full time, or sell it, or keep it part-time. It’s your business! Starting part-time allows you to figure out whether this business really is for you, test the market for demand, master any web based technologies that you need, attend trainings and conferences that will improve your knowledge base.
Career experts say it’s much healthier to be continuously thinking about your opportunities rather than waiting for something bad or good to happen. So even though you are happily employed, you’ve begun to start thinking about self-employment or a “working retirement.” Your problem is that you are getting no quick inspirations or ideas. Here are two research ideas to get your brain engaged.
(1) Research your opportunities in your current field – is consultant work available? – Is there a subpopulation that is not being well-served by your industry that you could serve better in your own business? – Is there some business or activity that they could “outsource” to you?
(2) Explore and research new areas of work that interest you. Some fascinating ideas may emerge from some “educational sites” on your computer.
Ed2go.com partners with more than 1800 colleges to offer online courses that can be used in your current line of work or in a new field. Ed2go offers many courses in areas of computers and technology as well as in writing and publishing. It also offers “start-a-new-career” courses including: Pharmacy Technician, Pet sitting, Special Events Coordinator, How to Start an Arts and Crafts Business…..
Fabjob.com sells guide books (~$15.00 – $30.00) on starting specific businesses or entering a new field. More than 100 guides are available including Become a:
Personal Chef Spa Owner
Art Gallery Owner Technical Writer
Dog Day Care Owner Organic Farmer
Genealogist Image Consultant
Doula Brewery Owner
Party Store Owner Funeral Director
Romance Writer Tea Room Owner
Cake Decorator Coffee House Owner
Fitness Club Owner Virtual Assistant
Personal Trainer Web Developer
Life Coach Butler
Real Estate Agent Psychic !!!!!
At the very least, a visit to their website will getting you thinking about all the alternatives you have to not knowing what you want to do, unemployment, underemployment, involuntary retirement, failed retirement, retirement, or just not having enough money.
OpenCourseWare (OCW) is a free and open digital publication of high quality university level educational materials. These materials are organized as courses, and often include course planning materials and evaluation tools as well as thematic content.
OpenCourseWare are free and openly licensed, accessible to anyone, anytime via the internet. Whatever you may want to learn or train for, there is probably a site on line that provides you with online training or gives information on where you can obtain such training. The consortium currently consists of 62 institutions offering 5,737 courses. A number of other institutions offer open courseware but are not part of this consortium including Harvard University and University of Massachusetts, Boston.
If learning online or from a book is not your learning style. Go online and look into what your community college is offering. Besides courses leading to certificates and Associate degrees, many community colleges offer noncredit courses that can prepare you starting your own business.
Online exploration and research is one way of discovering new options. More ideas for discovering your “perfect” part-time biz will be the focus of future posts.
Is it necessary to have a degree to start a business? No. And contrary to popular opinion, a fulfilling career is also quite possible without a degree. The issue is that we have become a credentialed society and many people believe that a BA is essential to achieving a middle class standard of living. Until very recently, having a four year degree usually ensured higher earnings during one’s working life. With the “college bubble”* this idea is being questioned. Still, parents and guidance counselors urge high school students to go to college. Two out of every three high school graduates will enroll in college right out of high school, but only 30.7 percent of them will have a four year degree by their mid-twenties.
Going straight to college may not be a good idea if:
You are burned out before even starting college.
You received average grades but are not really interested in academics and don’t see yourself excelling n college.
You are only going to college to figure out what you want to be when you grow up.
Finances are a problem and you or your parents will be taking on huge loans to fund your education.
A four-year degree is not necessary for many jobs, neither is a degree necessary for starting a small business. For some careers and some types of self-employment you do need the credentials. You cannot claim to be an accountant or a counselor without the appropriate degree. A career or a part-time business may require some training: on-the-job, mentoring, certificate, apprenticeship or an associate’s degree. The weekend dog groomer or fitness consultant will need some training before setting up their business. Does this mean you can be a halfpreneur while attending college or even start your own business right out of high school? Yes!
Now, I am not opposed to going to college. College teaching is a major part of my halfpreneurial career. I am a part-time instructor at three different colleges: a community college, a private college that specializes in business education, and a state university. There are excellent reasons to attend college and if finances are tight, community and state colleges and universities are often a good deal. However, there are still those individuals who are not interested in or ready for college, but have a passion, talents, or skills that they want to use. For these individuals starting a business may be the way to go.
I would strongly recommend that the young entrepreneur or any potential entrepreneur take some classes, even if they do not get a degree. My short list of recommended courses includes:
English 101 and 102 – writing skills are essential in business.
Public Speaking – you will be talking to people – can you persuade, convince, educate?
Basic computer skills – Word, Access, Excel, PowerPoint, html.
Accounting and Business – Introduction to Business, Marketing, Advertising, Business Law.
Applied Arts – Digital photography, graphic arts, and web design may be helpful.
Foreign languages – Spanish, Chinese, any other language used by a large number of people in your community.
Courses in any program relevant to what you want to do – Criminal Justice, Hotel Management, Education, Holistic Health, Fine Arts, Communication.
Self Assessment and Career Planning – helps students of any age figure out what they what to be when they grow up.
With or without degrees, entrepreneurs are usually life-long learners, so you might as well get started at a community college or in a program that provides certification in your field of interest.
If you want to be a halfpreneur or full time entrepreneur, there are advantages to stretching your entrepreneurial wings while still young – you may still be living at home, have little or no debt, and no family obligations.
What about “paying your dues” and having a job first so you develop a work ethic? Anyone who wants to start a business will need a work ethic, as well as reliability, academic skills and the “job” skills to succeed against the odds facing a beginning entrepreneur. As for the would- be- entrepreneur, a first job is great if it is teaching you the skills you will need to start your business.
What types of businesses can you or any other potential entrepreneur consider? Pay attention, this video has 101 suggestions.
If you are not sure of what you want to be when you grow up but you think you might like to own your own business, check out Profiting from Your Passions Coaching, the Services tab on this page OR take the Self Directed Search www.self-directed-search.com. The SDS is psychometrically sound career test that more than 35 million people have used. It is suitable for high school students through bored retirees. The cost is $4.95 and you get results sent to your email almost instantly. If you would like to discuss how your results match up with self-employment, call me or send me an email to set up an appointment.
*The College Bubble
There is controversy over the existence of the College Bubble. Is it a Bubble that can burst like the housing market did or should the problem should be given some other name? Students are taking on “good debt” for their education that will enable to make more money later, but many students now have high debt and several years out of college they are not finding positions that pay enough for their loans, housing, a car, etc. 85 percent of college graduates now return home after graduation because they cannot find a job. Most of these individuals will eventually find jobs and some will discover that there are plenty of positions in their field provided they are willing to move hundreds of miles away to areas with lower standard of living and less pay than they were expecting.
Research indicates that the price of college tuition has increased more quickly than housing and medical care in recent years. Check out this chart from AEI’s Mark Perry showing the rising cost of tuition outpacing basically every other good in American society for nearly two decades:
Besides starting a part-time business as a trial run for full-time self-employment. There are at least three additional reasons why you might choose to become a halfpreneur – Money, Meaning, and Mission.
Money
Money is the most obvious reason. You may be on the halfpreneurial path because you know you will need more money a few years down the road perhaps for your children’s college tuition or for your retirement. However you may need more money in your life right now for your car loan, your mortgage, or the tuition you never saved enough for. If you really need cash immediately, you may have to consider a second job, since few entrepreneurial ventures pay quickly, however affiliate marketing is one means that some individuals have used to quickly bring in income.
Bum Marketing
Some individuals still swear by Bum Marketing as a way of quickly generating money. Unfortunately that second job may be difficult to find. Just ask anyone who is unemployed and wants to supplement their income or a retiree who needs to return to work for more money or because they are incredibly bored. Yes, there are retirees who put far more planning into their finances than into what they wanted to do with the rest of their lives and discover that with no structure in their lives they are bored and miserable. This leads to the second and third reasons for becoming a halfpreneur – meaning and mission.
Given a choice everyone wants to do work that they care about and find interesting. There are a few people who might say that it does not matter, that they don’t care what they do, but if given a choice they would pick something they care about before choosing something they found totally uninteresting, even if money was their primary motive for self-employment or employment.
What is interesting, worthwhile, meaningful is however highly personal. Our personal perspective on what is meaningful is largely based on our personality, our upbringing, the culture we are part of, and even our genetic heritage. So one person’s definition of “meaningful” might be working toward filling their
Solar Power
highest ideals, whereas others may define “meaningful” as raising their children and grandchildren, and others would say that meaningful would be contributing to a cause or campaign like developing the solar power necessary to get the world off of its gluttonous appetite for oil. There is nothing that makes one person’s definition of meaningful better than any other.
Meaning combined with passion is even better, and there are two ways this connects with your home business or small business. Your business may allow you to create income based on what you find meaningful or are passionate about. For example, you get the basic 200 hour yoga certificate so you can begin teaching yoga or you might run summer programs teaching urban and suburban families how to enjoy fishing as a family activity, if fishing is your passion.
Fishing for Families
Mom with home-based business
On the other hand, It may be your passion that you want your halfpreneurial venture to support . If your passion is your children and you want to be able to stay home and raise them, then starting a home-based business that provides sufficient income allows you to live your passion. Someone approaching retirement age may have
Travel
a passion for traveling and once thought that travelling is what they would spend their golden years doing. Now a hard look at their finances puts their dreams in serious doubt. Are there travelling halfpreneurs?
Brainstorming
Yes, with a little brainstorming, we could identify several businesses that can be done from varying locations. For example, becoming a self-employed copy writer might never have been this 50+ year old individual’s first job choice, but it is very mobile and
Mobility – Work anywhere in the world!
pays well. OK, he may have to do some writing while he is traveling, but he does get to travel as much as he wants! Other ideas for work and travel include operating tours and starting import and/or export businesses.
A third reason for starting your own small business is that you feel that you have a mission. There is something else in life that you must do or you see a need that you can fill. While researching the term “mission” several equivalent terms kept emerging: purpose, life purpose, and calling, a long with some interesting definitions:
– an overall theme for your life which transcends your daily activities.
– an ongoing commitment to a principle that becomes who you are. It is not a belief or a goal to be achieved. It is not what you do but who you are being. It is not something that is discovered like interests, but a commitment you chose. It’s essence is contribution.
– the quality you have come to earth to develop, the type of service you are here to render, the segment of the planet or population you have come to enhance, improve, or heal. It pervades your entire life; it is much broader than one job, one business, or even your entire career.
Does everyone have a mission and is it a good reason to start your own business? I have talked to people who say definitely “YES” and most people know from an early age what they are here to do. Most of the students in my Self Assessment and Career Planning courses, however, hope they will someday discover their mission. This may be more realistic. Mission may be something that we grow into as we live our lives and we may not discover that need that we can uniquely fulfill until we
Coach
have experienced a great deal of living. There are coaches, advisors, healers, yoga practitioners and others who start businesses to work with those who are experiencing what they overcame: PTSD, ADHD, cancer, drug abuse, divorce, bankruptcy, etc.
We probably have many missions over our lifetimes. Raising our children may be one mission, but we may have other missions. And then I have spoke with people who seem to firmly believe that a paycheck is more important than meaning or passions or interests. If they had to admit to a mission or purpose they would say that it is to make money, which means they do believe there is a purpose to their life.
Now the halfpreneur is in business and the goal of any business
Care for your source of income
is to make money, however the need for money may very well overlap with needs for meaning, passion, and a sense of purpose or mission. If you choose to start your small business or home-based business just to make money, that is OK too. Just remember that every thriving business meets a need or provides a service.
For most of our past history (1945 – 1995) “regular” employment, working for someone and getting a paycheck and benefits has been the norm for most American workers. Since the 1990s this “regular” employment has been slowly fading, to the chagrin of many whose first work value is security. Dan Lacey predicted the decline of steady employment in The Paycheck Disruption, 1990 and Cliff Hakim’s book We Are All Self-Employed, 2003, stated the need for Americans to reassess their place in the marketplace. William Bridges predicted both the fading of steady employment in JobShift, 1994, and that each individual was his or her own enterprise, Creating You and Co., 1998.
So whether or not you start a business, every working person today has to regard themselves as self-employed. Working for a salary is renting your skills; we are all temporary employees. Over the past 15-20 years, more and more individuals have started small businesses as either primary or secondary forms of income.
If you are thinking about starting your own business, you are not only in sync with a number of authors but also in sync with an old tradition and with some of the past leaders of our nation.
Colonial Stores
The more people who own little businesses of their own, the safer our country will be … for the people who have a stake in their country and their community are its best citizens. —– John Hancock
The prudent, penniless beginner in the world labors for wages for a while, saves a surplus with which to buy tools or land for himself, then labors on his own account for another while, and at length hires another new beginner to help him. This … is …the just, and generous, and prosperous system, which opens the way to all, gives hope to all. —— Abraham Lincoln —- “Annual Address before the Wisconsin Agricultural Society”
So what is a Halfpreneur? I coined the term when I was taking a coaching course (Profiting from Your Passions) that was designed to help individuals change course and start their own businesses. Most of my colleagues wanted to have full-time businesses and help others escape their cubicles and start their own businesses. The trouble was that I liked my full-time job and the part-time business that I had on the side. I liked having both and I knew many others who were part-time entrepreneurs and had “day jobs.” So a halfpreneur had one foot in employment (paychecks, benefits) and one foot in self-employment (additional income, better use of talents or skills, passion, mission ….) However, since creating this term, new definitions have kept emerging.
True to my background as an educator, I can’t resist putting my definitions into categories and giving examples.
Photographer
THE TRUE HALFPRENEURS – those who work year round or have a continual passive income
– New Biz Halfpreneurs – the most entrepreneurial of the halfprenuers – those who start new businesses and run them by themselves or with others. Personally I know an industry sales manager who is also a part-time real estate agent; a full-time health care professional and Reiki Master who teaches Reiki and performs Reiki treatments; and a full time social services worker who owns and manages a bar and employs the bartenders.
–Professional Halfpreneurs – those who have a licensed profession, work for an organization and have their own private practice. Among my friends and acquaintances there is an agency social worker with a private practice and a teacher who offers tutoring.
– “Artist” Halfpreneurs – this includes artists, photographers, musicians, authors, speakers, and performers who work in their art and have a “day” job.
–Craft Halfpreneurs– those with a craft who work on their craft/”hobby” year round and sell their crafts at craft fairs, in consignment shops and/or online. One of my colleagues gets free empty liquor bottles from bars and turns them into lamps. He has friends who recycle liquor bottle glass into ornaments and cheese trays.
–OnlineHalfpreneurs – those who do all their work online or by phone. Online halfpreneurs may be coaches, internet marketers, affiliate marketers, or do online auctions.
– MLM Halfpreneurs – Due diligence is required for this option, but some MLM organizations are much better than others. I know people who love and are doing very well in vitamin and jewelry MLMs.
Decorated House, picture image
SEASONAL HALFPRENEURS – those who work only at certain times of the year
Depending on the season:
Winter – Christmas house decorator. (Decorate property and take down decorations after Christmas)
Fall –Researching, organizing and leading October ghost tours.
Summer – I worked with a client who decided with his wife to offer bass fishing outings (food, equipment instruction) to couples looking for a new shared out-of-doors leisure time activity. Offering before and after daycare for summer camps is a godsend for parents whose work schedules don’t mesh with the 8:00am -3:00pm camp program.
Spring/Summer – Yard sale shopper – buy “stuff” cheap and resell at profit in consignment stores, on Craig’s List, or online,
Professor
CONTRACT HALFPRENEURS – those whose work is contractual
–Adjunct professors – usually teach one or two courses per semester and the commitment of the college and the professor is over at the end of the term.
–Online contractors – get work assignments for writing, graphic arts, web site development through fiverr.com, elance.com, or other sites.
Trailer
ASSET HALFPRENEURS – those with something to rent
–The Landlord – owns property and rents out apartments, rooms, or a summer home.
–The Mini-landlord – rents out an empty garage, extra storage space, space for yard sales, or a garden.
–The “Rental Agent” – briefly rents out his or her boat, camper, rototiller, cement mixer
Landscape
LOOK BEFORE YOU LEAP HALFPRENEURS – those who start a business while still employed as a trial run to see if their business is something that they really want to eventually pursue full time or to see if their entrepreneurial idea is even feasible.
Consultant
ENCORE HALFPRENEURS – individuals over 50 who start new businesses or are in the process of planning/starting a business as they continue working. The Encore Years have been roughly defined as 50 to 70+. Encore halfpreneurs have often thought earlier in life of starting businesses but as older, experienced adults, the timing now seems right. Many gravitate to consulting, public speaking, writing, coaching, although I know one woman who makes and sells jewelry. Younger encore halfpreneurs may return to school to get the training or credentials that might be needed for their future business.
Working Retiree
RELUCTANT HALFPRENEURS – half-hearted, reluctant individuals who never saw themselves as entrepreneurial, but now are unable to find suitable, well paying positions.
–Forced early retirement – the early retirement package could not be turned down, but they are not ready to be retired and meaningful or adequate paying jobs are not coming through. They know that somehow their expertise, interests, or passions could become the foundation of their own business.
– Running out of money retirees – retirement was great but either they overspent or their nest egg has vanished during the Great Recession. Not wanting to be a greeter or work in a fast food restaurant, they may somewhat reluctantly decide to use their skills and start a small business.
–Long-term Unemployed – the options have become Welfare (Transitional Assistance), trying to convince a doctor and the government that you are disabled, or figuring out if you have what it takes to start a business that will provide some financial security and a needed boost to your self-esteem and self-efficacy.
Let me know if I need to put another category on my list.
