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How to Start Your Own Business With Little or No Money, Part 1

Many people long to own their own business, but don’t know how to get started. Thanks to the Internet, many people are now able to start their own business and work from home, using the assets that they already have.

If you are eager to start your own business, but think you can’t because you haven’t got a lot of spare cash, here are some ideas that can help you get started today.

1-Clean out your house, and buy garage sale or eBay items to re-sell them for a profit.
One man’s trash is another man’s treasure. Clean out your house of any old items you no longer use or might already have replaced with a newer model. Why have it cluttering up the house when you can sell it and put that money in the bank or pay off your debts?

Spending Fridays and Saturdays snapping up bargains from garage sales and selling them at flea markets or on eBay can be very lucrative. So can buying items in bulk at wholesale prices from websites or eBay and selling them on your own site or in the Amazon Marketplace. In the past decade or so since Internet shopping has taken off, this has become a profession that provides a full-time living with part-time hours for many people.

You need to know your niche and the prices for things, and what is hot at the moment, to do really well financially. You will also need to know about packaging and shipping rules and have a good customer service mind set in order to get good reviews. The good reviews will help keep repeat customers coming back for more. If you have a particular skill set or in-depth knowledge of a certain topic, known as a niche, you can do well by providing exactly what the people in that niche are eager to buy.

2-Try landscaping.
Landscaping has become a profitable hobby or full-time living for many. If you have a way with plants and an eye for design, you can charge some good professional fees for doing some landscaping. Start with your own garden and those of as many neighbors as possible to get your portfolio going, and then you should be able to start charging competitive rates to new clients.

3-Make money from your hobby.
You can build furniture or decorative items, arts and crafts, create personalized scrapbooks, home-made gifts of all kinds, and so on. If you don’t have a hobby like this, the skills for many of them are easily learned and enjoyable as well. Sell your items at flea markets, on Etsy.com or eBay, or spread the word through friends.

(Continued in Part 2)

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Top Tips on Outsourcing For Your Small Business, Part 2

(Continued from Part 1)

* What to Outsource
The first few things to outsource are:
1. Low-level tasks that take up a lot of time
2. Things that take up a lot of your energy
3. Things that you are not very good at, annoy you, or you dislike

By easing the burden on both your time and energy, you will feel less drained and be better able to tackle the really important challenges in your business.

* When to Outsource

The real answer is as soon as you start your business, but you might not have the cash for that. However, do include it as a built-in part of your business plan. Once you have some cash coming in, go to the freelance marketplaces and fiver.com and see who you can find to lend a hand with certain tasks. You can easily get rid of the bad workers and find some reliable good ones to help you. Just remember that outsourcing should actually make you money, not cost you money.

For example, if your work is ultimately worth $50 an hour but you are spending your time on $10-an-hour tasks, you can hire 4 workers at $10 an hour and still be making a profit, but you will have reduced the value of your time. However, if you can boost the value of your time to $100 an hour because you are free to focus on what you do best, then your outsourcing will more than pay for itself and leave you plenty of profits besides.
* Outsource In All Areas of Your Life the Box

Don’t just outsource things inside your business, but in your personal life as well, to help you become more efficient. You might not like the idea of people ‘waiting on you’, but especially in this economy, think of all the people you can help earn money in gainful employment.
If your time is worth $50 an hour, then by all means pay someone $10 an hour to do your laundry, clean your house, shop for your essentials, and so on. Even if you are only paying your child or spouse, remember that there are many acceptable tax deductions once you own a business.

It might seem like an extraneous expense, but again, every extra hour you can put into your business is more money earned. More money earned means more success for you and your loved one, and more ability to help others.
*Outsourcing Online
Outsourcing online can give you access to people all around the world willing to work to earn money. In this case, you might not outsource ongoing tasks, but small projects. Logo creation, website creation, and other one-off projects can all be running in the background simultaneously while you do other work. You can also outsource ongoing tasks like attending to customer service, virtual assistant tasks and more. See how you spend your time every day and what you can safely hand over to others and free up your time to generate more revenue more rapidly thanks to outsourcing.

FURTHER READING
HOW TO INCREASE YOUR PROFITS THROUGH OUTSOURCING

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Top Tips on Outsourcing For Your Small Business, Part 1

Outsourcing is one of the most powerful tools in any small business owner’s toolkit for increasing their productivity, output and eventual profits.

Most new business owners start out doing everything themselves. This allows them to keep control of all aspects of their business during the critical start-up phase and to keep costs down. Unfortunately, this control over the work and the costs can actually start to hamper them and prevent the business from growing to its full potential.

Here are some top tips on how to use outsourcing effectively for your small business.

* The Boss Does Not Need to Sweep the Floor

Most business owners get into the mindset that if they want the job done well, they have to do it themselves. This might be true, but as your business grows, you will have to decide which jobs you NEED to do for the sake of the business, and which will need to be outsourced because there will never be enough hours in the day to do everything.

It is easy to find someone to sweep the floor for minimum wage. That same person would not be likely to be the best choice to send to a high-powered meeting with potential investors. Therefore, why are you doing THEIR job, when you should be doing YOURS?

Your job as the head of the business is to grow your company to a healthy and sustainable level financially through activities which generate income. No matter what your business, there are administrative tasks that can be handed over to others. The critical thinking and real value creation is where you as the owner should be focusing your attention.

By all means start people off in the process, for example, by creating sample customer service emails that your outsourced worker can edit as needed. And do ask them to let you know of any major problems that might arise, since customer service is an important part of keeping customers loyal and establishing a good reputation for your business. But it would not be a productive use of your time to answer every CS email yourself.

(Continued in Part 2)

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Smart Spending Tips for November

Here is your November Finance Calendar to help you save money.

November1-30 Real Jewelry Month.

With silver and gold prices steadily increasing, this month is the perfect time to start investing in silver and gold with some wise jewelry purchases. Don’t get taken in by diamonds-the man-made ones are everywhere. Precious metals have shown long-term value for centuries. Look for a high K rating; the higher the number for example 18K gold, the more pure it is. (24K is completely pure, but too soft to wear safely.)

1st Request a free annual copy of your credit reports.

Get your free copy of your credit report from one of the credit reporting agencies, Equifax, Experian or Trans Union. Alternate which report you request every four months to ensure you have a balanced look at your credit throughout the year, rather than getting all three at once and then not knowing what is happening until next year, unless you want to pay to find out more.

1st Seniors age 70.5+ need to start to draw down on their IRAs.

This is the deadline to take out your required minimum distribution from your tax-deferred retirement accounts like IRAs and 401(K). An accountant can help you calculate the required amount you need to withdraw by the end of the year. Remember that the IRS will penalize you if you don’t take out the required minimum. If you don’t want to spend it, put it in another form of investment, or start shopping for the holidays.

3rd Sandwich Day.

This day is a tribute to the now global phenomenon of the sandwich, named after the Earl of Sandwich, a notorious gambler who didn’t want to leave the gaming tables. He had his servants put his meat between two slices of bread, and the rest, as they say, is history.

You will not want to gamble with your family’s fortunes, however, so use this say as a reminder to save money by brown-bagging your lunch at least 3 days each week to add to your savings. If you can manage to do it for all 5 days, you will be the king or queen of frugal lunches. Start today with a tasty sandwich made with your favorite ingredients and celebrate your road to more savings.

4th Use Your Common Sense Day.

Turn Common Sense Day into Common Cents Day with smart saving techniques like clipping coupons and shopping supermarket sales. Your savings can really add up when you use strategies like these every week. Set financial goals and online bank accounts for each of the goals, for example, college savings, a Christmas fund and a vacation fund. Apply what you save on lunches out and unskillful shopping to these accounts and watch yourself get nearer and nearer to your goals.

11th Veterans Day.

Remember how veterans are the reason you can celebrate the freedoms you have today. Volunteer your time or money to help a veteran. Think about hiring a veteran if you are a business owner. Think about helping the families of those who are still serving overseas. To help completely free every day, go online to theanimalrescuesite.com and click on the purple button to donate free food to animal shelters around the country. Then click on the tab for Veterans, and click on the button to help support veterans in need and their families.

The Great American Smokeout.

The American Cancer Society sponsors this movement on the third Thursday of every November. Today is the day to give up smoking for 24 hours to see if you can quit forever. Think of the savings that can add up if you get rid of your $10 or so per day habit.

Thanksgiving.

This is an important holiday in America in which people get together with family and friends to give thanks. It falls on the last Thursday of November every year. Even though you may be preparing a huge holiday meal for family or friends, you can still do Thanksgiving on the cheap by shopping the sales beforehand for all the canned and packaged goods and getting a frozen turkey at the start of the month. Plan your meals and menu carefully to stretch all the food as far as it will go. Don’t make yourself and everyone else miserable (and fat!) by forcing them to eat leftovers for days after.

Instead, package up a little of everything into your own ‘TV dinners’ that can be heated quickly in a microwave for lunch or dinner. You will save on eating out this way and have healthy meals on hand any time. Just be sure to go light on the butter and cream in all your recipes. There is really no need to drench delicious potatoes or sweet potatoes in butter, milk or marshmallows. Some careful shopping and common sense can ensure that you don’t break your budget or bloat your belly.

Black Friday.

Traditionally the Friday after Thanksgiving is the biggest shopping day of the year, with bargain hunters out in droves. Get some early Christmas shopping done and you may save some money on popular items such as electronics and toys. But know what things cost before you buy and keep all receipts in case you need to return anything. Also pay attention to price match guarantees-if you find a lower price, take advantage of it.

Cyber Monday.

The Internet age brought in the addition of Cyber Monday, similar to Black Friday but for online businesses to run their own super sales. Try to plan ahead so you can buy what you need and save money on some early Christmas shopping. Be sure to comparison shop and buy from trusted retailers. Also be prepare for errors on websites or even crashes as some sites struggle to cope with desperate bargain hunters.

Be careful with those credit cards.

Remember that if you are shopping online, you will most likely be using a credit card. Keep track of your purchase to avoid credit card fraud and overspending. It isn’t a great bargain if you will be paying for the item months or even years after you buy it (or even after it has broken and been replaced!).

Keep in mind that credit card companies make their main profits from people who get into trouble with debt. Make sure you will be able to pay off the bill in full when it arrives at the end of the month, and you should have happy holidays indeed, especially if you manage to snap up some bargains in the month of November.

Further Reading

How to Use the Internet to Save Money

YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

Smart Spending Strategies]]>

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Getting Ready for the Holidays Bargain List – November

These are just a few of the items you will want to add to your shopping list and try to get at the best prices.

Fruits and Vegetables

*Oranges
*Cranberries
*Tangerines
*Pomegranates
*Pears
*Pumpkins
*Persimmons
*Sweet potatoes
*Broccoli
*Spinach
*Mushrooms
*Winter squash

Grocery Savings

*Turkey
*Cheese
*Butter
*Baking supplies
*Pie crusts and readymade dough
*Frozen pies
*Dinner rolls
*Cake mix and frosting
*Pie fillings
*Nuts (peanuts, pecans and walnuts for baking and so on)
*Spices
*Dried fruits
*Halloween clearance candy (especially if they do not have Halloween wrappers on them. If they do have orange wrappers, use them around Thanksgiving.)
*Soup (low sodium if you can find it)
*Broth (low sodium if you can find it)
*Marshmallows
*Oatmeal

Other Non-Food Items:

*Trees, bulbs and shrubs
*Carpeting
*Flooring
*Electronics
*Tools
*Toys
*Christmas gifts
*Aluminum foil
*Baking pans
*Plastic wrap
*Cookware

FURTHER READING
YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

Smart Spending Strategies

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Money Matters Q and A: Saving Money at Halloween

Q. How can I save money on Halloween decorations?

A. Let your children participate in the decorating. Buy craft paper in a variety of colors and help each child create their own decorations. Create leaves, pumpkins and other seasonal items in various appropriate colors. (Hint: You can keep these kinds of decorations around the house right the way through to Thanksgiving.)

Also let them make some more scary ones, ghosts, zombies, witches and so on.

Tape them into the windows or mount them on the fridge door our your outer door. You can cover the ones on the outer door with plastic film to protect them from the wind and rain. For example, using just plain white computer paper, your kid could make a huge life-sized skeleton for your door.

Go online to some homeschooling or teachers’ resources sites to download free coloring sheets and more. You don’t have to go the expensive route for excellent Halloween decorations. Let the kids use their imaginations, and keep the pumpkins and leaves for Thanksgiving. Save the more spooky items for next year and they can be keepsakes for years to come.

Q. How can I make cheap Halloween costumes?

A. Use what you already have in the house as much as you possibly can to avoid having to spend a lot on costumes every Halloween. Let’s face it, the children grow every year, but in most cases your budget doesn’t, so start with anything that your children might have used last year and pass along or freshen up the costumes as ‘hand-me-downs’.

In many cases you can easily add bits or take them away to modify or create a whole new look.. For instance, a pirate costume one year can be a three Musketeers costume the next. A black witch costume one year can be a black cat costume the next. You may still need to buy a few accessories, colored felt, fabric, face paint, headbands and the like, but this will still greatly reduce the costs of your Halloween costumes.

Also consider getting patterns online and using fabric remnants. A vampire, witch’s or magicians cape with appropriate clothing underneath (a white shirt and black pants or a dark colored dress) is simple and fun to make. Then all you need are fangs, a broom stick or a magic wand. You can keep the cloak for years for other costumes or hand-me-downs.

Q. How can I save money on the things I do need to buy for Halloween?

A. Avoid the fancy Halloween party stores and opt for other options instead. You can buy Halloween decorations through Goodwill and similar secondhand stores. Halloween decorations and certain costume elements can easily be purchased inexpensively secondhand and, when you are done using them, you can donate them back to these stores to pass the savings on to someone else. You can also get a receipt for your donation from the Salvation Army and take the deduction on your taxes next April. Check their website for the value they allow for each item you donate and be sure to get a receipt from them for everything you bring.

Another way to save big is to check out 99 cent stores. They often have cheap decorations, paper goods and coloring books and activity books with holiday themes that your kids can use for decorations, placements, costume ideas and patterns, and more.

Check Pier 1 as soon as the season is over and save up to 90% off on any leftovers of their holiday line. Then put them away until next year.

Q. How do I save money on candy at Halloween?

A. Candy prices go up during the last couple of weeks of October because everything adopts the Halloween packaging and is sold specifically for this purpose. Beat the price jump by buying your candy a couple of weeks before the big rush. Store your candy in a cool, dry place, so it’s fresh when it’s time to use it. To save big, shop the sales after the holidays and buy anything that is not specially packaged for Halloween. This candy will do just fine for the Christmas holidays and can be up to 90% off the list price. If it is orange and other fall colors, it will probably do just fine for the Thanksgiving holiday.

Halloween has become a huge holiday in the United States. If you want to get into the holiday spirit without spending a fortune, shop smart and try a bit of DIY and enjoy the sense of accomplishment that you and your children will experience in having a do it yourself Halloween.

FURTHER READING

YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

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Frugal Halloween Costumes

Dressing up in costume for Halloween is one of the most enjoyable parts of the month of October, but costumes can be expensive to purchase. This is especially true when you’re purchasing for several children at the same time. Kids’ costumes can add up quickly in price, but you can save a significant amount of money by either re-using the ones that you bought last year, or creating your own.

Re-use the costumes from last year
If your children are the same gender and similar in age, pass along the costume to the next child. If the costume has parts to it that can be used, by all means do so. For example, a black cape can be great for a vampire, witch, warlock or magician. A red dress can be great for a vampire, Little Red Riding Hood, Snow White with the addition of a white apron, Heidi with the addition of a white pinafore, a salsa dancer with the addition of some multicolored ruffles at the hem and some maracas, and so on.

Make Your Own

If you need to start from scratch because nothing fits or you already got rid of it or gave it away to a charity shop (a great source of cheap costumes, then try creating one of these frugal and fun costume ideas for your kids this year:

1. Weatherman (or Weathergirl).
If your child already has rain gear, such as a yellow jacket and rain boots, you can easily add to this attire for a creative costume. Outfit a large umbrella with craft paper lightning bolts and raindrops or snowflakes strung up on fishing line. This simple costume is super cute and very cheap to make.
Many “occupational” costumes are simple to make using materials you already have in your home. You may need to buy a costume hardhat to finish off a carpenter or construction costume, for example, but the cost is much lower when you can use your own blue jeans/carpenter’s jeans, flannel shirt and tool belt from home. For a policeman costume, you would need a blue shirt, dark trousers and a badge or emblem such as NYPD.

2. Crayon.
This is another fun costume you can make with things you may already have. Take a solid color shirt and pant set and adhesive-backed felt. Create “CRAYON” or a color label with black felt. Make accents for the wrists and ankles that coordinate with a typical “Crayola.” Finally, top it off with a pointed party hat in a coordinated color for the perfect sharpened tip on your crayon. You can also roll them in a craft paper tube in the appropriate color with CRAYON written on it, and the hat. Hold up the crayon roll with shoulder straps made out of the craft paper or a couple of matching socks stapled to the paper.

3. Animal costumes.
Animal costumes are easy to make, beginning with a leotard or a single-colored outfit and a coordinating fabric or felt. Attach ears to a headband, and create a tail that you can safety-pin to the waistband. A little face paint goes a long way, but doesn’t cost much to acquire. Dogs and cats work well as quick animal costume ideas.

Get more creative with lizards, birds and other animal costumes depending on what materials you have at hand. Ear headbands and various animal headpieces can be found in a party store but are easy to make. For young children, you can striped or fluffy fabric to turn your child into a lion or tiger. You can find free patterns online that will help you judge just how much fabric and trim you will need.

With enough planning, you can create your own costumes quickly and easily, often with items that you already have at home. This will allow your children to get the most out of their Halloween experience without forcing you to spend more than you can afford.
Halloween is now an important holiday that many schools participate in, with parties, costume parades, bakes goods and more. Your child will not want to be left out, but luckily you can get them a great costume if you refurbish last year’s, shop at a charity store for one, or make your own at home.

Further Reading
YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

Smart Spending Strategies

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