Episode 48 - Where Did You Put Your Eggs?

Oct 12, 2017

If They Are All In Somebody Else's Basket Then You Best Beware! The reality of life these days is that companies don't really give a damn about their employees. Not the vast majority anyway. In fact, employees are seen as little more than a necessary evil and as just a means to an end toward reaching company objectives. When it comes right down to it you are replaceable and expendable. When the day comes where the company decides that you are no longer in its best interest you will find yourself suddenly unemployed. That is what has already happened to thousands upon thousands of people - and is going to happen to a great many more regardless of whether they have any idea it is coming or not. Others will lose their jobs not because the company decided to cut them loose but rather because the company itself will go under, fail and close its doors. Bye bye employees! Think it can't happen to you too? Better think again. That's what many of those who lost their jobs already thought too. When you work for a company you are putting your eggs in a basket that you do not own and can't control. There is a ton of risk with doing that, especially if that is your only source of income. Consider Starting A Side Business Now that you are fully aware of this - just in case you weren't already - then why not be proactive and do something now to protect yourself? Start your own business and grow it slowly as you learn and develop your knowledge and skills. Keep growing it at least to the point that it can easily provide you with enough income on its own - after all expenses - to comfortably live on and maintain your current lifestyle. When you do that you take half of your eggs away from your employer and put them in your own basket. One you control instead of one controlled by anyone else. That alone will give you more security, and a lot more peace of mind. Since you do not need any of that income so long as you keep working the job and it keeps being available for you to work - you can build a sizable emergency reserve fund very quickly and very easily. After that you can eliminate your debt if you choose to - and I highly suggest you do. The less debt you have the less indentured you are, and the more freedom and independence you have. The less you owe the more money you have to continue doing things that constantly improve your situation and your life more and more with each passing month. So what kind of business could you start? Here are a few for you to look into and consider. All of these are what I would call microbusinesses and could be started for very little money, then slowly grown over a period of time. Beyond that many of them have opportunities to grow them into a substantial business if that is your goal - or you can keep them as small as you like and just big enough to meet your own requirements.

1. Online Retail Business - Start selling products on Amazon and using their Fulfillment By Amazon (FBA) Program.
2. Driver Recruiting Firm - Truck drivers are in high demand and most trucking companies have numerous trucks empty they are desperate to fill. That's where your services as an independent driver recruiter come in.
3. Become An Instructor - What skills and specialized knowledge have you already accumulated? Chances are that you have information, knowledge, skills, and experience that students are ready willing and able to pay you to learn more about what you know. Look at Udemy or one of the other numerous platforms where you can become an instructor and start sharing what you know.
4. Write A Book - The same things we just mentioned above can be covered in a nonfiction book and or eBook and you can publish your work directly through Amazon yourself. Take a look at Createspace and Kindle for starters. Keep in mind you will probably need to write a few books to begin to earn decent recurring income from - but if you like to write and have something to share this might be a great opportunity for you to look at further.
5. Furniture Business - There are several ways you can do this. One is to find old furniture people are willing to sell cheap and in many cases will give it away just to get rid of it. Take it and clean it up, repair and or repurpose it and then sell it through Craigslist, yard sales etc. Another way is to get some basic plans for farm tables, benches or Adirondack furniture and make it yourself then sell it the same way.
6. Soap Business - Make soap and sell it online and at craft fares and whatever other ways works for you.
7. Candles Business - Candle making is fun and can be relaxing. Try it out as a hobby and if you like it then start a candle making business.
8. Freight Broker - Chances are you may have never even heard of freight brokers or if you have you probably don't have much of an idea what they really do or how they do it. This is a multi-billion dollar industry and one you can enter with little more than a computer, phone, good internet connection, some software - a little specialized information and a few hundred dollars in fees to uncle same and to a surety bond company. Then learn and grow slowly until you become comfortable and then just increase the number of loads you handle per day. As a freight broker, you act as an intermediary between shippers and motor carriers arranging transportation of loads all over the country.
9. Custom Decorative Signs - With little more than a few inexpensive woodworking tools, a good router, a few board and some patience you can learn how to make and sell wooden signs. Lots of people love these things for their homes, garages, workshops and even for campers and boats.
10. Trucking Business - OK... This one will be better pursued on a full time basis instead of part time. But if you really want to change your life completely and change it fast then become a truck driver and then once you have a little time and experience under your belt there are NUMEROUS part time business opportunities for you while you are out there on the road.

All these things, of course, will require research and study on your part if you want to pursue any of them. But anyone of them can help you build a more secure and better life for yourself and your family.