Would you like to have your own business?

Currently, you might be :

  • Working for a company but would like something of your own.
  • Not working and looking for something to do.
  • Tired of commuting.
  • Tired of working 9-5.
  • Working long hours for somebody else.
  • Selling products or services you don’t like.
  • Not making enough money as you would like.
  • Afraid of the COVID-19 virus when going outside your home to work.

Why haven’t you started already?

The typical reasons why people have not launched their own business are:

  • They already work at a company and would not like to lose the income stream until their own business is producing enough profit.
    • It’s not easy to build a business after hours or on weekends.
    • It’s not easy to build a business that will produce enough income to replace the current income.
  • Don’t know where to start.
    • What to buy and sell?
    • How to buy?
    • How to sell?
  • Afraid of failure
    • New businesses have too many unknowns.  This increases the chances of failure. 
    • About 20% of small businesses fail in their first year and about 50% fail in their fifth year.
    • In most cases failure means almost total loss of all the money invested.

How can you have your own business?

  • Decide if you want to provide a service or buy/sell products
    • Services are usually very time consuming and/or employee intensive and cannot easily scale.
    • Buy/Sell (Inventory) businesses usually require renting a warehouse, warehouse employees, etc.
  • Decide if to start on your own or buying an existing business
    • Buy an existing business contact a Business Broker
      • Business being sold are usually declining, have problems or the owner wants too much.
    • Start on your own.  Could could either:
      • Buy a Franchise: Substantial initial expense in Franchise Fees and company set up.
      • Start from scratch:  A lot of uncertainties and long time to ramp-up.
  • Pick a product or service to offer
    • This is perhaps one of the most important and difficult issue to start.  If you pick the wrong product or service, you might spend the next few years in a futile attempt to build a business that will finally fail.

What would an Ideal Inventory Business be?

  • Work 100% from home
    • No need to visit or talk to customers face to face.
    • No need to physically manipulate products.
    • No need to pay rent for an office or warehouse.
  • Easily deal with employees
    • Can start without hiring employees.
    • Can add work-at-home employees as needed.
    • Can hire employees overseas at a fraction of the cost of U.S. based employees.
  • Extremely scalable
    • Can increase revenue to tens or hundreds of millions of dollars.
    • Can add as many products and as much storage space as needed.
    • The only limit is the amount of money invested in inventory.
  • Use the purchasing power of a group and invest mostly in inventory
    • No need to make huge investments in hit or miss products.
    • Get volume discount pricing and savings on shipping based on Group Purchasing, without having to buy huge quantities.
    • The vast majority of the investment goes to sellable inventory, not to fixed assets or expenses.
  • Sell in USA and operate from anywhere in the world
    • Since this business requires no physical presence of the owner or employees, it can be operated anywhere.