Retirement … Small Business:Little Capital… Big Income ?
Since my retirement few years ago I have successfully set up two small self-proprietorship companies within one year intervals. The first was trading and later a retail business. Setting up a retail business to me is within the reach of many people. For trading it requires a quite substantial cash outlays. No matter what the size our small business is the costs incurred in the set up are unthinkable. From my past experience in setting up new business it has been critical even just to control the spending in making it to be cost effective and within the capacity. Question is can’t we the entrepreneur control the spending ?.
Spending of $1.00 nowadays is seen negligible. What about transacting the same many times a day unrecorded ?. Tea breaks, buying a bottle of mineral water, sweets, cigarette and so on is quite normal. Try to think deeper still on some non budgeted expenses.
In addition, start calculating the times and costs of securing a Place where the business is going to be located. The Products that we want to sell, the Price that we want to compete and the Promotions needed both on the product and the business.
Cost of setting a ’small business’ is not small as the name reflects. Certainly it is far from free. Even the make shift stall needs a business license to operate. I spent ~not wasting~ lots of my valuable times just to negotiate for 10 percents reduction on rental deposits of my store that hardly successful. Still, more times and funds will be spent in locating the whereabout of the suppliers and assessing the products.
For the big stores owners the scenario is clear. Vendors are always at their doorsteps offering competitive discounts and credit terms. Being a so-called ’small business’ our strength is the Money-in-Hand. The strength of my bargains is my ability to pay on demand before getting the products.
There are many silent millionaires within the small business sectors. Small-Business gives many openings to more challenging opportunities to expand for bigger business . It could guarantee a good life-time career and future. Many individuals have proven it successfully.
My venture to the internet business was motivated by my daughter’s saying… little investment big income. The strength she said is within the Finger-Tips to Press- Buttons. Here I am trying hard to put another portfolio to my lifeline. I am sure you too want it?.