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November 9, 2009

Finance tips – What kind of small business to start

Filed under: Finance — Tags: , , — admin @ 1:29 pm

Determining just what kind of small business you will start is definitely a difficult decision. But to one who knows how to go about it, you can start a business with very little difficulty if you just follow a few simple steps in determining what you will do.

First on this list of steps is determining what skills you have. It would be advisable to start a small business that didn’t require any extra training. Why? Well, needing to get extra training will require both time and money… neither of which are obtained easily. In fact, odds are good that if you had the time and money to go back to school, that you would do so and get a better paying job… thereby negating the need to start a small business altogether!

So, it is best to start a business that will either utilize the skills you already have, or one that doesn’t require any specialized skills. For example, if you are a computer programmer, consider building custom websites on the side! Or, if you do not really have a specialized skill, start a hot-dog stand on the weekends? This requires only a minimal amount of knowledge, and some common sense.  There are dozens of small business opportunities that you can start without obtaining extra training.

Also, what kind of tools or equipment that  you have that would help you start a small business? Do you work as a carpenter with all the necessary tools? Well, then on the weekends, install cabinets for a local cabinet-maker! This is a great way to utilize both your tools and your skills to make more money doing something a little bit different.

There are a lot of ways to make extra money… you just have to keep your mind open and see what inspires you.

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