Convert Skills to Cash

You're sitting on a gold mine.

Did you know that over 60% of the jobs in the US are created by small businesses?  That's people like you who have taken the plunge and started a business.  Small businesses are a huge part of the global economy.  In developing nations a large percentage of the economic structure comes from individual entrepreneurs and small business. 

Sarah converted her love of baking into a thriving bakery and restaurant in her own neighborhood.

Bill converted his childhood love for cooking into a thriving BBQ catering business that is so successful that he was able to quit his day job to do what he really loves.

Anna was having a tough time paying the bills until she started selling her design talents on the internet and making extra cash on nights and weekends.

Jason started tinkering with his car stereo system as soon as he was old enough to buy his first car.  He kept learning more and more to the point now that he installs large sophisticated home theater systems as a part time business.

It can seem daunting to think about having a business but here are some steps you can take to make your dream come true.

1. Take an inventory of your skills and interests.  This is how you do that in less than one hour.  Get several pieces of blank paper or a tablet and a pen.  Sit in a quiet place where you will not be disturbed.  Relax.  Now write this at the top of a page: "What do I know and what do I like?"  Take the next 5 to 15 minutes answering the question and writing the answers down.  Your objective is to identify at least 20 things that come to mind without judging any of them at the time.  When you slow down ask yourself "What else?"  When you slow down again think back through your life and recall things that have interested you and you have enjoyed.  Write those down.
    

2. Now it's time to apply positive judgment to the inventory list.  Place a check mark next to the five things that seem most promising or interesting to you.
    

3. Pick one or two from this list of five that you are motivated to take action on.  Add new skills or learn a new TRADE through Penn Foster
    

4. Now research those options one at a time.  Start with the internet to see what others are doing.  Read the phone book yellow pages to see what the advertisements are.  Find someone in the business to talk to about your ideas.  Try the small business development resources in your area.  The Small Business Administration in the US has a group of volunteers (SCORE) that will help you for free.

   Everything you know and every skill you have is a potential for making money.  You are a gold mine of opportunity.

   
    

5. Find an easy low-risk way to test your idea and go for it.  You don't have to bet your home and bank account on the idea.  Ask friends and neighbors if they know someone who might need what you are offering.  Find one client and try a small project.  Give the work or product away if you have to just to build the experience.  As you gain more and more experience you can raise prices to a fare level and refine your product or service.

   
    

6. This one-step-at-a-time approach can take you from a weekend worker to a full time business without the risk of jumping in to deep water all at once.

Remember that the secret to starting most businesses is to build it slowly from something that you enjoy doing and have some skill for.  As you are growing it is critical that you work on the business as well as the craft, trade or skill that you are using.  Most small businesses fail because the didn't apply good business practices.  Good business practices include business plans, financial forecasts and reports, sales and marketing plans, the use of good management principles and customer service standards to name a few.  Read "The E-Myth" by Gerber to help yourself navigate the path.

Anyone can start a business.  It does take new skills to make it profitable and keep it going.  Here are some options and if you are willing to get more training and education the world is wide open to you.

What if I have no real skills but I'm willing to work hard?  There are dozens of businesses that require only hard work, motivation and some basic information to get started.  You can pick up the business skills and learn the fine points of how to do the work well as you go.  Cleaner, laborer, car detailer, .  Don't take this too lightly, people have made fortunes in these basic but important services.

Being open to possibilities is the first step toward converting your skills to cash.  Making good decisions and taking action will make the dream come true.