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★Brainstorming for a new business idea

Hello
I’m hoping for some inspiring feedback here.
My wife and I are trying to come up with a plan that puts us more in control of our financial destiny.
We have a fair amount of experience as landlords, having owned a handful of rental properties over the years. We sold our last one a few years ago, before the real estate market really crashed, and when the vacancy rates were pretty tight.
We have renovated and improved every on that we’ve had, but are not the fastest at that, so hiring myself out as a handy man may not be the most profitable. The improvements (we’ve done just about everything over the years – new kitchens, baths, updating electrical, plumbing, landscaping, etc.) always turn out nice, but just take too long!
We did manage our properties well, documenting everything and promptly taking care of all maintenance items as well as unruly tenants. We were only in court once, and our meticulous records and pictures really saved us there!
We’ve also experienced a fair amount of loss in our lives as our last home was severely damaged in a fire, which forced us to live in hotels for nearly 9 months. When all was said and done, we spent several thousand dollars of our own money, fixing things that the contractors had done improperly or had neglected altogether. We didn’t seek conciliation in court, as we were selling and didn’t want the litigation to hinder the sale. In hind sight, we would have done so much different…
Also, my wife has a small cleaning business, but in this market, there is not a lot of margin – tough economy, people want more for less… she does well with it, but we need to do more to earn a livable income.

I’m just throwing this out there in hopes that someone will help stimulate some ideas.

Okay, take this idea seriously or not, but here is an idea for a very inexpensive business you could start.

Buy a “real” mascott outfit, something like Mickey Mouse or Sponge-Bob or whatever. Start a business doing appearances at kids events.

Print flyers and business cards.

Find the addresses of every beauty shop, doctors office, and nail salon in your area.

Put the flyers and cards at these locations. And give referral fees to every stylist, receptionist, and manacurist who gets you a party.

If you charge $100 for a booking give $10 to whoever referred them to you.

Just an idea I had considered for myself. I know it’s not related to real-estate, but it would be very inexpensive to get started.

All we have to decide is what to do with the time that is given us.
— Gandalf, J.R.R. Tolkien
I’m Alright
Life Less Ordinary

In response to themadcookieman’s post:
Thanks for the idea. It’s a start, but not exactly what I’m looking for.
I’m thinking about a website, but haven’t the foggiest idea of what’s involved, and how to make money on it. I’m not super computer savvy, but I’m not computer illiterate either.

Re: ….but are not the fastest at that, so hiring myself out as a handy man may not be the most profitable. …
Not everyone is in a hurry to have something fixed or done with good quality. If you enjoy being a handy man, the speed should not be a reason not to go for it. There is a german saying which somewhat means: good things need time.

…what a wonderful world….

Check out Webstarts

All we have to decide is what to do with the time that is given us.
— Gandalf, J.R.R. Tolkien
I’m Alright
Life Less Ordinary

Hi Brian,
There are A LOT of sharks out there who want your money related to getting your website up and running. You have to kiss a lot of toads before you find your princess… in other words, DO YOUR HOMEWORK!! Get references, follow up thoroughly with them.

Everybody wants to sell you a service to improve your traffic, improve your rankings in the search engines, and about a million other ways to take your money. My advice is to seek advice of either a mentor or a successful, experienced business professional who can help you decide how to spend your money wisely on appropriate website investment (ie – investment that will actually reap money for you and not just suck it away from you). You do need to spend money, but there are a lot of people who will talk a great story, take your money, and do relatively little. I don’t mean to sound cynical, but I get at least 10 to 20 calls per week from companies related to this.

Before you sink a nickel in your business, please research, read, ask… There are a ton of questions you need to answer before you even get started.

My number ONE advice, follow your PASSION!!! The money will come if you follow your passion. Don’t just do a business to make money. Your job – and especially one that you own, will take a considerable amount of time. Make sure you are enjoying what you do. You only have one life to live, don’t waste it doing unhappy, yucky things!!

My 2 cents… :)

I am living in many dimensions at once; the appearance of being trapped in time and space is only an illusion.

In response to meditatingmama’s post:
Thanks for the tips!
The website idea that my wife and I have has been brewing in our minds for several years, and is definitely a passion of ours! We just need to get it rolling.
An old colleague of mine started a website a few years back – we’ve lost touch, but I’m trying to look him up – he’d be a great mentor for this.
I’ll keep you posted.
I’m starting a new job Monday, so that will slow things down, but we will do it!

In response to briankw’s post:

I am so happy to hear that. There are a ton of free resources available to you – please use them. Most colleges or small towns have a Small Business Development Center that has accountants, marketing, and legal advisers all free for your asking. Then, there is S.C.O.R.E. which is free and is a bunch of retired professionals who just love to be mentors to young businesses.

Brian, most people just love to talk about themselves or their businesses. If you see a business that is even related to what you would like to do, invite the owner for a cup of coffee at a local coffee shop and just talk about their struggles and triumphs. This should give you great insight.

Don’t be afraid of people. They are your most valuable asset!! Get out there and talk to potential customers about what they would like to see. Talk to local professionals – like accountants or lawyers. Most will give initial consults for free. The more you circulate, the more you learn. The more you learn from other peoples mistakes, the better you will be prepared.

Keep me in the loop. I am behind you and your wife 100% – YOU CAN DO IT!!
Just remember, the FIRST STEP is ultimately the hardest!!

I am living in many dimensions at once; the appearance of being trapped in time and space is only an illusion.

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