Tag: Small business

  • What Motivates You to Work?

    Although some individuals do volunteer work, for most people money is a universal motivator. However, besides money, there are many additional motivators or reasons why we work and we may not even be completely aware of what motivates us.  If you are seeking to develop an encore career, start a small business, begin a senior side hustle, accessing your motivators may help in your decision making and success.

    The first time you read this list of motivators and the examples of behaviors common to this motivator, you will probably select five to ten of these 30 motivators as describing you.  Reviewing your list again, perhaps reviewing it several times and reviewing your work history and your ideas or dreams for your next potential opportunity, reduce your list to your top five motivators that will be essential in your next endeavor.  If you discover that identifying your top five motivators is difficult or confusing, you may want to discuss this exercise with someone who knows you well.

    This following list of motivators are not ranked by importance or popularity; they are listed in alphabetical order.  

    1             Accomplishments   

    • Do you feel proud when you use your education, technical training, experience, or special skills in your work?
    • Do you feel a sense of completion when you finish a work-related task or project?
    • Do you like undertaking expert tasks or special projects?

    #2          Action  

    • Do you like work assignments that are high risk or give you an adrenaline rush?
    • Do you enjoy being constantly on the go, living with tight deadlines?
    • Do you like the buzz of a busy environment?
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  • Is a Side Hustle a Business?   Or Welcome to Tax Season 2026!

    A side hustle can be a business.  You may not see your side hustle as a business, but according to the IRS your side hustle becomes a business once you’re consistently earning income with the intent to make a profit.   The IRS doesn’t care if you call it a hustle, a gig or a hobby—they care if you’re making money and reporting it properly.  If your side hustle just supplements your main income, it is not a business, but you may owe income taxes.

    The Freelance, Gig-based Side Hustle

    Side hustles typically are freelance, gig-based, flexible, easily started and stopped.  You directly trade your time for money (e.g. driving for a rideshare, pet sitting gigs supplied by Rover) to supplement your main income.  Your side hustle is not based on making a profit, it’s basically a temporary “job”.  You do need to state this income on your Form 1040.  If you worked for an agency or business, you and IRS will most likely receive some type of 1099 form stating your income.

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  • Tame Your Email Monster

    Email Monster
    Email Monster

    Is the Email Monster one of your business problems?  How much time do you spend reading and responding to – or simply deleting – emails? How much unread email currently clutters your inbox? If you’re like most entrepreneurs, the answer (in both cases) is far too much!

    In fact, if you were brave enough to actually time yourself, you’d very likely find you spend two or even three hours each and every day just dealing with email. No wonder you feel like you don’t get anything done. You need some strategies for building an email system that will tame the monster.

    Auto-File Your “To Read” Emails

    We all do it. We open an email, realize it’s a newsletter we love, an important announcement, or information about an upcoming event, and we close it with a well-intentioned, “I’ll read that later.” The trouble is, when later comes, we either can’t find the email, or don’t even remember that we wanted to read it.

    What if you had a folder on your computer where all your “to be read” emails waited just for you to come by and discover them again? How empty would your inbox be then? Through the power of filters and folders, just about any email client can take care of this task for you.

    Simply set up a folder called “To Read” or something else equally clever, then create an email rule or filter (as Gmail calls them) to deliver certain messages to that folder when they come in. Make a rule for your favorite online newsletter, email from your college alumni association, your local chamber of commerce, or even your sister.

    But here’s the trick to it: You have to actually schedule time to go and read these emails. Don’t let them just pile up in there, because all that does is move the problem from your inbox to your “to read” folder. Make time to read them, then respond, file, or trash accordingly.

    Turn off Notifications

    Are you easily distracted by email? You’re not alone. That little red number declaring the number of unread emails, or the pretty little chime that announces the arrival of a new message is an invitation to click over and see what’s new.

    Turn it off. In fact, turn off the automatic checking for email if you can. That way you can purposefully decide when to go read your email, rather than being notified of a new message every 5 minutes.

    Unsubscribe

    Chances are you’re on multiple mailing lists – and most of them you probably never read.

    Click the unsubscribe button. Be ruthless. You can always sign up again if you miss the content, but for now, eliminating those emails from your inbox will save you a lot of time and trouble.

    Email Ninja
    Email Ninja

    Getting a handle on email is one of the toughest things for busy small business owners, but with a little planning and some self-discipline, you can start using email as the powerful tool it is.  As a email ninja your old monster will no longer be stealing much of your time.

  • Happy Labor Day

    1880's

    By the 1880’s life in the United States was changing from agrarian and small town to industrial and urban.   Some farmers were the original “halfpreneurs” doing both farming and running a small business (making carriage wheels, barrels, rope, from their barn or house.  In the small towns and cities, most business were run by one person or a family, things were changing.    With the growth of the industrial revolution came factories, and  a need for workers to run the machines, fix the machines, build the factories, build the roads for workers and materials to get to and from the factories.  Manufactured goods meant for the first time ever the ordinary person might buy all the premade clothes or shoes they could afford.  The day when only the self-employed tailor or shoe-makers could outfit you had come to an end.  Of course the need for a skilled tailor or cobbler never went away, but if you need one today, they might be difficult to find.  In the 1880s organized labor began to call for a holiday to celebrate the work of U.S. workers.  In 1894, Congress declared Labor Day, a national holiday.

    Consultant, picture image

    But if you are reading this blog, you probably have some type of small business of your own or want to start one.  The U.S. laborer working for organized labor certainly contributed to the building of this country, but so didn’t the village shop owner or crafts person .  So if you are one of their successors (or want to be) with your online goods or services  or a craft or service you provide from home or “office”  don’t forget to celebrate your labors as well for you may have discovered what the “employed” have never considered or taken seriously.

    ” Your real security is yourself.  You know you can do it, and they can’t ever take that away from you.”   — Mae West

    “People are always blaming their circumstances for what they are.  The people who get on in this world are those who get up and look for the circumstances they want, and, if they can’t find them, make them.”     — George Bernard Shaw

    “No amount of money, no matter how much it is, will ever compensate you sufficiently for remaining in a job that is drudgery and robs you of your spirit, or one that prevents you from fulfilling a dream.”     — John Kehoe

    “You miss 100% of the shots you never take.”     —  Wayne Gretzky

     “A musician must make music, and an artist must paint, and a poet must write, if he is to be ultimately at peace with himself.”    — Abraham Maslow

     “There is only one success – to be able to spend your life in your own way.”     — Christopher Morley

     

                                    So ……………………….

    labor day 14

  • One Business or Multiple Streams of Income?

    Multiple streams of incomeIf 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.

    1.  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.
    2. 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)
    3. 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. 
    4. 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.

  • Starting a Business – Video Wednesday

    Are you thinking of starting a business ……

     

    If you are seeking ideas for what type of business to start do try shadowing someone who doing something you are interested in like a bed and breakfast or wine bar.  The suggestion for doing an informational interview is also a great suggestion, but you may want to interview someone who is operating a business at least 50 miles from where you might start your business, so you do not appear to be a competitor.

    No ideas at all!

    • Look at a copy of the noncredit course being offered at your local community college.  Some of these course may suggest a new business idea.
    • Visit www.fabjob,com  Check out the dream careers and purchase any books you are really interested in.
    • Consult a Profiting from Your Passions coach for one or more sessions.  Explore you passions, skills, interests, assets and who will want what you have to offer.

     

  • A Business on the Side. Why Should You Have One?

    Why does someone become a Halfpreneur,  begin a Side Hustle (Pamela Slim’s, author of Escape from Cubicle Nation, term for a tiny, independent venture you do during your free time) or begin a Second Act Semi-retirement career (Nancy Collamer)?   The idea of starting a side business may have arisen from:

    • seeing family or friends lose their jobs and realizing no job was truly secure
    • your own job loss and long term unemployment
    • an early retirement or retirement when you want to continue working and earning an income but you also want to work  fewer hours  at something you enjoy,
    • being one of the many millennials who want a challenge while waiting for the job market to open up.

    The current government shut down may spur some individuals who work for government agencies or for businesses doing business with the government that they too should have a side business.

    CLOSED
    CLOSED

    The reality is that even if we have a full-time job, we are all self-employed.   Even if you are happy and feeling secure in your current position, it may be wise to become a Halfpreneur and start that side business as a form of career insurance.  Your side business  can:

    • provide extra income or a financial cushion.  The extra revenue can go to what you think is important – home repairs, paying down debt, retirement savings, a vacation.
    • serve as a backup plan just in case you lose your job.
    • be an opportunity to experiment with new fields and ideas which along with exercise will keep your brain healthy.

    Once you organize your thoughts, you may discover there are almost limitless possibilities for potential businesses. Contrary to popular thought,  Everyone has skills, experience and attributes that can be used to successfully launch a  small business.  Begin by focusing on something that is in demand, fills a need and has growth potential.  If you can find an under-served niche you will have an easier time getting customers and establishing a reputation.  But don’t waste your time and energy by just starting a business that meets a demand.  This will be your business , choose something that interests you and that you are capable of doing.

    Two warnings!

    • If you have a full time job, make sure you are not prohibited from performing outside work.
    • Check the local and state laws to be certain you can comply with the laws.  For example there may be zoning laws or regulations that food items be prepared in commercial kitchens.  SCORE and  local government small business associations can assist you,

    Finally avoid potential financial and legal problems by:

    • choosing a legal structure for your business, most likely you will operate as a sole proprietor or as an LLC (limited liability corporation)
    • setting up a business bank account
    • checking with a CPA to learn what are your tax requirements.    You’ll also want to know what deductibles you can take.
    • getting any business licenses or permits that are required

  • Effective Marketing for the Creatively Self-Employed

    From article by Anthony Ceseri, posted by MaryEllen Tribby May 2, 2013 and  by ThrivingBusiness.com  July 2013.

    Getting in front of people isn’t enough. You have to know HOW to get in front of them, so their initial reaction will be positive and they’ll want to interact with you and be your fan, follower or student. But unfortunately, many business owners, musicians, artists, and other creative people looking to promote things on the web simply don’t take the time to consider this, and as a result they’re left wondering why no one wants to buy what they’re selling. If you want to get anywhere, you have to learn how to market yourself. With that being said, let’s look at 3 important tips for eliciting positive reactions in potential customers, clients and fans.

    1. Speak to One Person
    Of course, as a creative person you want to appeal to the masses. You want a ton of people loving and promoting what you’ve created. I get it. But one thing you have to realize when you’re marketing is it’s best to address one person to increase the odds of getting their attention.

    For example, let’s say you signed up for a band’s email list at one of their gigs. Which of the following opening lines would be more likely to grab your attention as a reader?

    A.  “Hey Guys – We wanted to thank you all for coming out to our last show. We appreciated you guys being there and hope you can make it out to our next show at…”

    OR

    B.  “Hey Bob – We wanted to thank you for coming out to our last show. We appreciated you being there and hope you can make it out to our next show at…”

    Doesn’t the second one feel much more like it’s directed at you, specifically (well, assuming your name’s Bob)? The second one’s much more likely to get your readers’ attention. There’s a subconscious detachment that happens when we read phrases like “hey all you guys.” It makes us feel like just a face in a crowd, and we zone out. But when we’re spoken to directly, we’re much more likely to respond.

    To get good at this technique, a great marketing approach is to create an avatar of your typical fan. Write out the name, age, gender, occupation, etc, of one of your fans. It can be someone made-up, who you feel represents your fan base appropriately, or it can be an actual fan or reader of yours. Every time you write an email, Tweet, or Facebook post, keep that person in mind. Pretend you’re writing to him only and not to everyone on the internet. It’ll help you keep your writings engaging for everyone who reads them, because while saying things like “Hello, Cleveland” is kick-ass on-stage, it just doesn’t apply when you’re marketing yourself.

    2.    Give Value
    Another big mistake a lot of creative people make is they don’t make their promotions about their fans. They make them about themselves. They say things like “We would really appreciate it if you came out to our show. It would mean so much to us.” That’s inwardly focused. It may work on their mom and siblings, but it just won’t appeal to someone who’s a casual observer. In fact, it’ll probably turn that casual observer off, because it’s such a self-serving statement.

    Another phrase I see a lot in the songwriting world is “hey check out my songs, and let me know what you think.” There are two reasons this phrase is a bad idea: 1. Again, it’s self-serving. It’s all about the artist who posted it, which means other people aren’t likely to care. And, 2. It’s disingenuous. They probably don’t really want to know what you think, UNLESS you love it. If you hate their music, they’re not going to want you posting that on their page. I recommend staying away from that phrase altogether in online postings. It does the exact opposite of giving value.

    Instead, talk about the benefits they’ll have by buying your product, or trading their email for one of your freebies. Let them know why it’ll be a positive experience for THEM. People respond to what makes them feel good, so make them feel good. Don’t just talk about yourself. Everyone’s favorite topic is themselves, not someone else. Use that piece of information to your advantage when you’re promoting what you do.

    3.    Build Relationships
    One of the best ways to market yourself and your products is to build relationships. This applies not only to people who can help advance your career, like other business owners, but with your fans, clients or readers as well.

    As far as building relationships with your fans, if you were in the crowd for a convention, for example, wouldn’t you be much more likely to buy a product from the speaker if he engaged you in some pleasant conversation afterwards? And if you get your fans on your email list, you can continue the relationship with them by offering them cool stuff in your emails.

    And as for other business owners or mentors who can help your career along, building relationships with them is key as well. You’ve heard the phrase “it’s all who you know.” Well, start knowing people. But again, it’s about them. Don’t try to build relationships with people by seeing what they can do for you. No one will want to deal with you. Just get to know them. Later on down the line, you might able to ask for things, and it’ll be okay because you’ll have that relationship. But start out by just by getting to know them, and even see if there’s anything you can do for them. If people like you and get to know you, they’ll be much more likely to want to help you succeed.

    The opposite of building relationships is spamming people online. This includes sending emails to people who didn’t ask to receive them and posting your promotions on sites that weren’t looking for them to be posted there. Things like that will only aggravate people, and possibly even get you blocked from the sites you want to be on. You’re doing the opposite of building relationships.

    The problem is, most up-and-comers think in numbers. They think, “That Facebook page has 20,000 Likes. If I post my product there, tons of people will see it, and I’ll be a millionaire!” What’s much more likely to happen, is you’re just going to annoy the owner of the page. Think about how you feel when random people you don’t know post their stuff to your page. Instead, try to develop a relationship with the owner of the page. Maybe he’ll eventually promote your product to his page, if it’s good. And if he doesn’t, that’s fine too.

    Marketing yourself and your ideas is crucial to your success. It’s just as important as knowing the underlying craft of what your business provides. Actually, it’s probably more important, if you want what you’re doing to be more than just a hobby. So use these three tips to start effectively marketing yourself and your ideas to build a strong and thriving community of people who actually want to help you succeed. Have fun and good luck!

    If you’re a songwriter or performer (or want to be) and you’d like a lot of useful information on building a fan base and writing songs, download my free report here: http://successforyoursongs.com/freeoffer/

    Anthony Ceseri is the owner of http://www.SuccessForYourSongs.com, a website dedicated to the growth and development of songwriters of all skill levels.

  • The Benefits of Self-Employment

    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.

  • Coworking Spaces – Work Alone and Work with Other Like-Minded People

    One of the reasons I hear from people who are on the fence about starting their own business is that they need human contact and they would miss not having coworkers and friends at work if they were solopreneurs.

    Renting or subleasing space, as I suggested as a option last week for people unable to work from home, is not appealing to these  potential entrepreneurs who enjoy the camaraderie of the workplace even if they hate their jobs.  Since writing my blog last week, Location, Location, Location, I have discovered that I was unaware of one more option for working space – coworking spaces.  Apparently there are Office Rental facilities, Startup Incubators and Coworking spaces.

    Office rental  facilities exist to rent space at a profit.  The owners have taken one or several pieces of property, breaking it into smaller pieces and maybe adding some services.  Those who need a private office and do not want to rent or lease on office of their own find office rental useful.   Depending on size and location, they can be quite affordable for someone beginning a business.  There may be a sign up fee, or they may  require a time  commitment, or a criminal background check, but generally they do not have a formal application process.  The relationship is one of landlord-tenant.

    Startup incubators are places that stimulate high-growth, venture-backed startups.  They may be subsidized by government agencies or investment firms who hope to discover promising young companies to add to their portfolios.  In theory, they take people with ambition, good ideas, a prototype and some funding and provide guidance, education, resources, and connections to move them forward as a business.   There will be an application process to go through and criteria that must be met.  This would be an option only for a part-time entrepreneur who is now ready to go full time.

    Coworking spaces are organizations that offer membership to a community of like-minded people.  Their  goal is to facilitate a healthy community of independents.  The organization is not renting the property to make a profit but rather charging a price that will cover costs.  Most coworking spaces belong to a global movement that subscribes to five core values:  community, collaboration, openness, sustainability, and accessibility.  Some spaces are truly global and your membership allows you to use space in coworking spaces in other countries.

    Coworking space is ideal for people who want access to a place and community on their own terms and whose needs are a desk and internet connection.  Besides someone starting a new business, freelancers, contractors, telecommuters, and travelers may gravitate to these spaces.  Coworking spaces are communities and so they may have different cultures.  Some cater to geeks; some to writers, graphic artists and other creative folks.   Unfortunately, coworking spaces are generally available only in big cities (at least in the Eastern US).   Do you own property that is too large for your business idea, look into founding a coworking space.

    Office rental facilities and startup incubators service the needs of the business people who are seeking to make a profit.  Coworking spaces are more communities of practice, where people go to work on their craft – individuals  who work at something they care about and who perceive their business as a means to an end.  The work, the practice, the craft is more important than the profit.

    For the individual who wants to earn money pursuing their passion on a part-time basis with like-minded individuals with whom they will not be competing, joining or founding a coworking space would be a great opportunity.

    The advantages of coworking , will be my next post.