Are You Making These Mistakes With Your Side Business?

The beauty of the blogging community, the different inspiring individuals on Twitter, and the many forums out there is that you get to communicate with many like-minded folks.

I love chatting with other ambitious colleagues because we get to help each other, share feedback, and think of ideas that one person alone could never come up with alone.

Through my various chats over the years I’ve learned that I’ve done many things wrong.

Instead of getting upset with a criticism I usually do my best to apply it to my life.  This is why I’m comfortable with writing a piece on small business mistakes that we all make at the beginning.

We’re all guilty of making certain mistakes when first trying to launch a side business.

Are you making any of the following mistakes with your side business?

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Are You Cut Out to be a Landlord?

One of the ways that many people decide to invest in real estate, or create a passive income stream, is to purchase a rental property with the intention of becoming a landlord.

Owning property that you can rent out to others can be one way of creating income, and also of waiting for a property to increase in value.

However, being a landlord isn’t for everyone.

You should consider whether or not you are truly cut out to be a landlord. Continue Reading

What is a Solopreneur?

Solopreneur is a word that applies to many people and yet they don’t know it.

“What is a solopreneur,” you might ask?

Simply stated, a solopreneur is an entrepreneur who works solo; and this makes perfect sense.  Now just because the word solo is in there doesn’t mean to think small – always think big.

Thanks to the online marketplace there has been an explosion of solopreneurs.  Operating a business from the privacy and comfort of home appeals to thousands of people and the Internet helps to facilitate this goal. Depending on the type of business, not only is this simple to do but very little capital is required to get things off the ground. Continue Reading

Work from Home? Why You Should Consider Child Care

Mother and baby in home office with laptop

When I first started working from home, my son (who is now in elementary school) was three. One of the most common questions I fielded was this: How do you get work done with a child at home?  The answer: I send him to the sitter.

People are often shocked to learn that my son went to the sitter, and later to preschool, when I am a work from home parent.  After all, isn’t one of the reasons some of us work from home is to avoid sending the kids to the sitter?  This is only partially true.  I like working from home because it provides me with flexibility, and, of course, because I can spend more time with my son.  But that doesn’t mean that I keep my son home all the time.  Indeed, having my son in child care has helped me be more productive, as well as provide the opportunity for more quality time with my son.

Here’s why you might consider child care when you work from home: Continue Reading

Frugal Vacation Idea – Tag Along to Your Spouse’s Business Conference

Business_suit_interview

Many people have to attend business conferences, often at faraway locations.  While it is true some people like to spend this time away from their family to focus on work and make business connections, others would prefer not to be away from their family for a long period of time.  If you are of the latter group and your spouse has a flexible schedule, why not create a family vacation around a conference instead?  Tag along to your spouse’s business conference and you have the makings of a frugal vacation.  There are several advantages to doing so:
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Should You Start Your Own Business?

Employee career shift

Do you ever find yourself dreaming of having your own business? I think most people do at one time or another (that is, those who aren’t already self-employed).  Striking out on your own to blaze an independent career path is an integral part of the American Dream.  But is being your own boss something for everyone to pursue?  Should you start your own business?

You probably should be self-employed if…

Being self-employed requires, as much as anything else, a different mindset.  What makes up that mindset?
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Is Unemployment Hurting Your Job Prospects? Why You Should Accept a Job Below Your Salary Requirements

Kelly was a lawyer making a six-figure income when she was laid off in April of 2010.  Since then she has worked to make herself more marketable by going to school to obtain a Master’s degree with the hope of becoming a college teacher.  She took out student loans to pay for both her additional education and to use the money to supplement unemployment.

Even with unemployment and student loans, money is extremely tight.  She always enjoyed her large salary and is not used to living below her means.  Now, she is still responsible for the student loan payments that have come due and car payments in addition to rent, utilities, and groceries.  Her car is in need of repairs and due to the high price of gas, she limits her trips and stays home much of the day.  She has very little in savings and has had to begin to rely on credit cards to get her through this lean time.
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