Posted: Jan 7, 08 6:58pm

by AmyZuckerman

Building your own business -

Yes, it’s possible with time, money, passion, energy and patience. . .

Once upon a time when I was in my 30s I used to work for newspapers.

I learned to gather, sort, write and edit information at high speeds and with a high-level of accuracy. I assisted in making a tangible product every day and promoted it. Plus, I knew how to create a pipeline of work that kept my editors happy.

Over the years, I learned how to write books and market them nationally. From this skill I found that I had gained enough solid information on a given topic to create expertise that was, in itself, marketable.

In time, the news world became the news grind. I saw business opportunities at every turn, but could not ethically take advantage of them. Plus, I was sick of weathering downsizings and buyouts. Even worse, was the knowledge that I would never earn more than that annual salary plus a tiny percentage raise. Sure, I could have moved onto larger papers in urban markets, but the cost of living would have eaten up most of the higher salary I could hope to garnish.

So, at the beginning of 1992 I quit my day job and created my first business – a combination of product sales in Europe and consulting. Moving out on my own was easier psychologically than I thought it would be. Luckily, I had staffed small news bureaus on my own and learned lots of ways to beat isolation in restaurants and cafes. And I knew plenty about structuring my day and keeping work flowing. Billing, accounting and tech support I farmed out to others.

Fifteen years and several business iterations later, I’m principal of A – Z International Associates based in Amherst, Mass.. I sell content in a wide array of topic areas (see www.a-zinternational.com) and do a great deal of strategic marketing for everyone from individuals to institutions and global corporations.

As a lifestyle entrepreneur and parent, I don’t make fortunes. But I do get to work in pleasant environments on schedules that match my work rhythms; that allow me to be there for my teenage daughter, and finish a master’s at the University of Massachusetts. For example, I’m writing this entry now by the lake in Belchertown, Mass. near my Amherst home.

Over the years, I’ve helped all sorts of people transition from their day job to their dream business. That work led me to create Hidden-Tech (www.hidden-tech.net) in May of 2002 -- an organization for virtual company owners like me, who generally work on their own in small-office settings with the help of advanced technology. I’ve spent countless hours advising members on starting or growing their businesses, often offering advice for free in thanks to the many people who did the same for me.

Now I’m here to do the same for you, whether you want to operate from a home, an office suite or a storefront.

· Maybe you’re a teacher like my friend Marge in Tucson who wants to build a side editing business as a back up.

· Maybe you’re an octogenarian like David, a noted expert in improv theater, who is always looking for ways of building added revenue streams.

· Maybe you’re like Paul, who has a small eBay auction business and wants to grow a retirement business while maintaining his day job.

Whatever stage you’re at, and whatever way you want to operate your business, there’s a pathway for you as long as you have a product or service that is marketable, and have the time, money, passion, energy and patience to build a business – TMPEP for short. These are the sorts of issues you are bound to encounter:

BRANDING: Finding a product/service that suits you and branding it. That means giving your business a name that carries the message you want to impart.

ESTABLISHING A BUDGET/BUSINESS PLAN: For a small business (or any) the budget will dictate direction. Future entries will explore making easy money versus building a business pipeline.

EQUIPMENT: You will have to have the right technology, which will include a computer, Internet connection (preferably broadband) and a phone/fax. A laptop helps many stay sane as they can work outside the house.

FINANCES: Learning about the IRS and schedule Cs, plus keeping good accounting is very important. Some really smart people work with Quicken, but computer-adverse people can do just as well with an accounting ledger. If you want to grow big, we can explore venture capital and angels.

BUSINESS NETWORKING: Exploring local/national networking options is important to the next category, sales/marketing.

SALES/MARKETING: This is a constant. People need to learn to crack a leads list, cope with cold-calling and handle interviews (both in person and remotely)

MANAGING TIME: Another biggie. Everyone has rhythms. Being self-employed a means you can work with, not against, yours. But there's danger of sliding into inaction without a schedule

NEGOTIATING A FEE FOR SERVICE OR PRODUCT: Another stumbler for newcomers, but those business networks you join will help you establish the fees that are acceptable in your locale versus what you can charge a client in a metro area.

COPING WITH GROWTH: It's often feast or famine in this world. I’ve developed the "accordion" approach to coping with multiple projects. This means having subcontractors lined up to back you and learning to manage them.

This is your space as well as mine. Write to me about your business needs and I will work hard to address them.

Tags:

virtual business; virtual work place; virtual economy; home-based business

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