Business Basics for the Frugal Entrepreneur
Having cleared all debts and decided that '9 to 5' isn't the life for you, it's time to take stock of what is available and how financial security could be established from that.
You want to be a frugal entrepreneur, so you literally want money to grow on trees. But first, you must plant your acorn, that little seed of an idea from which greatness can grow.
Feel free to discuss any aspects of starting your business from scratch. Mine is starting from a virtual standstill after following a frugal lifestyle challenge for several years. I now know how little it costs to live and how often money is wasted for a quick fix.
Never forget that trading is trading, be it with cash or without; the ultimate aim is to make a gain in your own favour.
Have a think about what you most like doing, have a look around you and see what enterprising opportunities are hiding in and around your own home, then start processing all that new data. The old addage that you need to speculate to accumulate still holds true, only we're speculative investors in our own time and lifestyles.
What's needed?
The preliminary idea, no matter how far fetched it may seem
The will to try, try and try again without incurring debt
An end product or service worth something to others
A business plan to show it can all work
A bank account
Register self employed with HMRC
National Insurance contributions (for your state pension)
A sales strategy
Free advertising, marketing & promotions
Customers or clients
As much help and support as you can muster
Ideally, the products and services you will offer will be things you love making or doing. Work isn't work if you enjoy it, it's a way of life, not just a means to an end. If it makes you rich, in whatever meaning of the word you choose, then that is better still.
Join us in the free forums to discuss frugal entrepreneurial ideas.
NYK Media
www.scottishmultimedia.co.uk
Having cleared all debts and decided that '9 to 5' isn't the life for you, it's time to take stock of what is available and how financial security could be established from that.
You want to be a frugal entrepreneur, so you literally want money to grow on trees. But first, you must plant your acorn, that little seed of an idea from which greatness can grow.
Feel free to discuss any aspects of starting your business from scratch. Mine is starting from a virtual standstill after following a frugal lifestyle challenge for several years. I now know how little it costs to live and how often money is wasted for a quick fix.
Never forget that trading is trading, be it with cash or without; the ultimate aim is to make a gain in your own favour.
Have a think about what you most like doing, have a look around you and see what enterprising opportunities are hiding in and around your own home, then start processing all that new data. The old addage that you need to speculate to accumulate still holds true, only we're speculative investors in our own time and lifestyles.
What's needed?
The preliminary idea, no matter how far fetched it may seem
The will to try, try and try again without incurring debt
An end product or service worth something to others
A business plan to show it can all work
A bank account
Register self employed with HMRC
National Insurance contributions (for your state pension)
A sales strategy
Free advertising, marketing & promotions
Customers or clients
As much help and support as you can muster
Ideally, the products and services you will offer will be things you love making or doing. Work isn't work if you enjoy it, it's a way of life, not just a means to an end. If it makes you rich, in whatever meaning of the word you choose, then that is better still.
Join us in the free forums to discuss frugal entrepreneurial ideas.
NYK Media
www.scottishmultimedia.co.uk
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