BE YOUR OWN BOSS
Be your own boss. This was the mantra of my mentor back in college. He always reiterated the value of BEING THE BOSS in our classrooms. Sadly, not all of my classmates made it that far in the business world. I took his advice to heart and got started with a small business that involved buying and selling of college books to freshmen and sophomores. This took off quite a bit but I failed in a lot of steps. My mentor was kind enough to point out where I went wrong.
As a consultant, I found this question to be one of the most frequently asked: HOW MUCH DOES IT TAKE TO START A BUSINESS?
Most people would argue that you need a lot of money, but there are some businesses that don’t really require you to get a second mortgage just to fund your own business. Here is a short list of some business ideas and why they don’t need a lot of money.
- Local Moving company – this is a business that doesn’t require a lot of money because you only need to assemble a crew that can move, a small office space, a small truck, and some items necessary to carry huge furniture pieces. If shelling out for a truck is too much, you can also rent one. The reason why this was on the top of the list because I remember a cousin of mine who started his own moving company in Kitchener. His office was his garage and his crew was no more than 5 people. He started getting clients moving into new apartments or small houses. Now, he’s one of the most reliable moving companies in Kitchener.
- Local Driving schools and lessons – another business idea that needs not a lot of money to get started. All you need is a car and a good practicum for people who want to learn how to drive. You don’t need an office space unless you intend to hold a class for a lot of people but even if you do, it won’t cost you a lot of money to rent out a room.
Practical advice to move things forward
Supposing you’re interested in setting up your own moving company, what are the things that you need to do to turn this idea into a reality?
1.) SWOT – SWOT is short-hand for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis needs to be done so you can identify the key aspects for your business and what needs to be done to enhance the strengths, remove the weakness, take the opportunities, and to eliminate threats.
2.) Consult – You can talk with a business consultant about how to proceed with your idea. They will help you get things started, but don’t bother if they end up charging a lot of money. My suggestion is to talk to friends who have their own businesses.