Recently, I published an interview with Hayley Swindell, the founder of The Refinery (a shared studio space in Austin, Texas), on the potential benefits of co-working. As a former small business owner, Swindell founded the space as a solution to some of the problems she faced as a budding creative entrepreneur, namely a lack of professional amenities and supportive peer network. In that piece, she argued co-working environments give independent freelancers and small business owners the community necessary to share resources, battle scars and stories of success.
Are You Financially Prepared for Self-Employment? If you're currently working outside the home, many experts recommend that you have a year's worth of living expenses squirreled away before starting a business. Of course, not every entrepreneur follows that advice, but most experts agree that at the very least, you need to plan for a few lean months if you're giving up a regular paycheck. "One of the biggest mistakes that people make is not having enough money to get them through the first years," says Beverley Williams, president of the American Association of Home-Based Businesses. "You have to look at your finances and spending habits and then ask how long you can go before you feel the pinch."
In order to avoid this talent drain, organizations are becoming increasingly innovative with benefit strategies specific to working parents. For example, When Work Works Award winners Ultimate Software offers employees $300 per child, per year, to spend on their children for an extracurricular event of their choice; and at GL group, new parents can bring their babies to work for the first six months and are provided with a monthly child care stipend for the first years.
Both pragmatic and inspiring, The Joy of Working from Home shows the current or prospective home-office worker how to set up an efficient home office and provides the support for making what for many will be a major life change. Combining detailed, useful information with encouraging advice and anecdotes, the book gives numerous positive examples of individuals who have successfully made the transition. The author-himself a home-worker for many years-provides realistic methods for striking a healthy balance between business and personal life.
Most people think that you need to have a lot money stocked away before getting started with investing in real estate, but that isn’t true. In fact, you can start with with as little as $500 by using a platform like Fundrise. Fundrise allows investors of all types (beginners and experts alike) to invest directly in a real estate portfolio that’s managed by a team of professionals.
Be computer savvy. Since the majority of your work will be done on your computer, you will need to be computer savvy. You should know everything from learning how to use different software, to updating programs and keeping your computer running smoothly, Hanna says. “A broken down computer or Internet connection equals no work getting done, so you will be need to be able to navigate your way around tech issues and concerns.”
How much will you make? I think my best month with Google AdSense was almost $5,000 over the last ten years. That amazing month blew my mind since it was actually near the beginning of my blogging journey. When you go from making zero to $5,000 in a month, that will rock your world. For me, it also got me even more excited because I knew there were other ways to monetize.
I actually just wrote my own blog post about this very idea. People think SEO is free, and while it’s true that you don’t have to invest in any software if you don’t want to (there are plenty of free tools available), you have to remember how many hours it takes to create a successful SEO campaign. Just optimizing your site can take several weeks. Link building could easily be 15-20 hours a month, a few hours a week is devoted to just straight writing (never mind promoting your content). You have to manage all your social profiles, build relationships with other bloggers and so forth. There are a lot of tasks that take up a lot of time each day and time = money!
Commuting sucks, and one big advantage of working from home is that you no longer have to deal with it regularly. But it's crucial to reclaim the time you used to devote to travel for something productive. For example, maybe use the first 30 minutes of your day to answer emails you didn't get to the day before and the last half hour to set long-term strategic goals and specific objectives for the next day.
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Marketing. When operating as a consultant, you won’t necessarily be marketing your company; you’ll be marketing yourself. You’ll have to “package” yourself in a way that makes people trust you. For instance, if you’re marketing yourself as a financial consultant, ask yourself why someone would trust you with their life savings, and then figure out a way to convey that to potential clients. It might be in the form of a brochure, a portfolio, a sales letter, or all three.
What are your marketable skills? If you're already in the workforce, your current job responsibilities and the skills and talents they require are the best starting point for self-assessment. "You should be prepared to do a lot of brainstorming," says Ellen Parlapiano, co-author of Mompreneurs Online: Using the Internet to Build Work@Home Success (Perigee, 2001). "Don't limit yourself to the obvious options."
If you have spent any amount of time on social media you’ll see day traders flaunting the life style of traveling around the world, staying at the nicest hotels and driving the fanciest cars. Typically these posts show traders easily making the $1k/day goal on a laptop while sitting in a hot tub or a swimming pool. This style of marketing is all about selling the life style of the rich and famous. Despite the fact that I’ve been very successful, the “lifestyle” is not why I started day trading. I started day trading for much more humble reasons.
FOR HAND MADE AND VINTAGE...art, photography, clothing, jewelry, edibles, bath & beauty products, quilts, knick-knacks and toys. The vintage items on the site have only one rule to follow: they must be 20 years or older. These items range from old boots and ice skates, to dresses, hats and scarves. The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of $0.20.
Shipping. You will only have a few days to ship a book after it sells, and even less time if you agree to include two-day or overnight shipping as part of your options. And since you’ll want to save as much as you can on the shipping, you’ll have to devise a plan. Many people set aside specific days for shipping – say 3 days a week – and then make one big trip to the post office. As long as there isn’t anything else in the package, you can send books via media mail, which is the least expensive option. Finally, your books will need to be packaged in a way that they won’t get damaged in transit.