E-Mail 'Being Unemployed And Starting A Home-Based Business, by W.L.' To A Friend

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5 Comments

  1. Great article. Build your business. Stay independent. I have not had a job since 1985.

    Here are some random thoughts from a seasoned independent business guy:

    “You make your money when you buy.” was advice given to me. She was not wrong.

    I have an antique store. We chose to market via facebook and craigslist and not have a store website as all merchandise is one of a kind. We did take pains to get listed on every sort of directory web site we could find.

    That store is in its fifth year and finally has the traffic to sustain sales. I still work to screw down expenses. Our email list and how facebook cheaply lets you access high end demographic tools for advertising are our main tools.

    Keep track of your customers and use mail chimp to stay in touch. (basic is free).

    If you come from a service business get ready for a shock. Merchandise is a new game for you.

    Achieving velocity with your merchandise is the challenge. Better to make 10% 24 times a year than 50% twice a year. Holding out for the last buck on your merchandise is a mistake.

    Constantly observe market place behavior. You cannot change it and must move with it. Ever try to save your sand castle from the incoming tide?

    Always strive to keep your word gauging carefully your promises vs your ability to deliver. It is the greatest attribute of main street.

    Remember that your Daddy was right when he told you “Birds of a feather flock together.” Bad customers refer bad customers. Conversely good customers hang out with other good customers. Good and bad hinge on whether they pay promptly and/or drive up the cost of doing business with their behavior. Good customers expect to pay. Bad ones always forget their check book. No moral judgements here, just a pain index.

    Bad customers can put you out of business.

  2. My husband and I believe in multiple income streams. We are always looking for ways to generate income in case one stream dries up. I have just discovered selling online in the last month. We have rental property and tenants are always leaving things that we have to haul off. It has been slow to take off. Thank you for your article. I now see I need to just give it more time.

  4. I would like to suggest the following: Before you really get started that you contact Score.org for help with your planning. Score councilors from the local chapter will be assigned to you at no charge to advise you on your operation.

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