Transcript of my newsletter from 11th January
I have a few friends who are in the airline industry here. It’s a disaster area at the moment, with one airline closed and the other having retrenched 8,500 staff.
My friends are nervous about their jobs.
I’ve had conversations with some of them about creating a Plan B to fall back on, should the worst happen.
But the response I often get is ‘I’m not qualified for anything else’, or ‘What could I do?’.
Those are totally natural feelings, and could apply to anyone who has spent their career in the corporate world.
So this week I’ve found and linked to two articles on how to quantify your skills and find a good business idea, and two articles on actually getting started.
Since most solo businesses will be run largely online from home, at least initially, I’ve also developed a description of the steps you need to take to get your own website set up.
If I need to clarify anything just hit reply to this email (or contact me here).
3 Strategies to help you start your own small business
So you want to start a business but you don’t know how, or feel you have no skills.
As I said earlier, this is a totally natural feeling.
But everyone has skills they could use to earn a crust – it’s just that you take them for granted and become blind to them over time.
Here’s a process for taking an inventory of, and identifying, skills you have that you could turn into a business.
How to choose an idea for your online business
This is a 15-minute podcast by Shane Sams – and his personality literally bursts through your speakers!
His message is straight-forward:
Focus on what you know. Research your business idea and look for an idea where there is lots of competition – competition is good because it means there’s a business there.
Make a decision on an idea and get started, but don’t go overboard on spending – start small and carefully.
Your first idea may not be great, but as long as you’re able to recognise when it has no legs, you’ll learn lots and you can pivot to a new idea.
A quick guide to starting an online business
This article covers the steps you need to go through to find a good product, a process through which to sell it, and how to find a niche to sell to.
He talks about the existing platforms on which you can sell stuff (Facebook, Amazon, etc), and he also talks about the importance setting up your own website.
You can start selling online very quickly on Facebook, Amazon and the other platforms – and those are good places to test the market to see whether your product has legs.
But, once you’re happy that it has, you really need your own website.
That’s because you’re only renting space on Facebook and the others, and you’re subject to their terms and conditions. If you infringe them, they’ll take your page down overnight.
Setting up your own website may seem daunting if you haven’t done it before, but it’s quite straight-forward. I linked earlier to a post setting out what you need in order to set one up – here it is again.
And here’s the article:
9 ways to earn money online
Finally, some more ideas for creating a Plan B – this article lists 9 ways you can earn money from home.
The language and grammar are a little odd at times, but these are all well-proven ways to earn online.
The earning potential varies widely, as does the ease of entry, but throughout the article it refers to different online platforms where you can register and pick up projects that match your talents.
I’ve always loved Supertramp. This is a version of ‘A soap box opera’, a beautiful song, played here with the Stuttgart Philharmonic Orchestra in July 2013:
If there’s someone you know who’s worried about their job and looking for a fall-back plan, please forward this email to them.
And, if you received it as a forward from someone else, why not join us?
If you’d like to browse through previous newsletters you can find them all here.
OK, let me know if you have any questions, thoughts or comments (just hit Reply).
Have a great week, and thanks for coming along for the ride!
Owner – WealthyDragon