Category Archives: Small Business

01.17.15
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Five Reasons to Keep Your 9 to 5 Job

By Anthony Hilb 

The idea of keeping a 9 – 5 job may seem impractical to individuals who are starting to succeed with their new microbusiness venture. I have always been well aware of the benefits of keeping a 9 – 5 job while owning a microbusiness, yet I did not have one when I started my first business because I was lucky enough to quickly find customers and earn enough to maintain a decent lifestyle with my wife.

As I am getting older, I have realized a 9 – 5 job suits my personality and my microbusiness ownership goals. Fortunately, I am working for an excellent company called ABRA Auto Body and Glass, and I completely identify with their vision. If you are like me and enjoy working for your company, here are five reasons you should keep your 9 – 5 job:

  1. As I have mentioned in many other articles and in my book Make Money with a Microbusiness, you can still have a 9 – 5 job and own a microbusiness at the same time. There are situations when you will need to choose one over the other, but in so many circumstances microbusinesses do not need to be pursued full-time. Some microbusiness owners have an automated online business while others hire someone to manage their business while they are at their 9 -5. Two of my microbusinesses are still open even though I also have a full-time job.
  2. If you are working independently on your microbusiness, you often will not be coached by anyone throughout the week, which will cause you to miss out on significant life and career lessons from those who are wiser than you.
  3. The professionalism you attain from your 9 – 5 job will stay with you while you are managing your microbusiness.
  4. If you work for a good company, you will get benefits like health insurance, a 401(k), stock options, paid time off, and profit sharing.
  5. Acquiring startup capital is much easier when you have a 9 – 5 job because lenders look at your job history and view you as a stable individual who will be able to pay back your loan. If your microbusiness does not work out, you will still have your 9 – 5 job, and you will still be able to pay back any debts as long as your calculations were reasonable.

Your income as a microbusiness owner may exceed what you would make at many 9 – 5 positions, but it is still important to consider the points listed above as well as other advantages of a 9 – 5 job that are unique to your situation. You may never need to work outside of your microbusiness, but for many of us a full-time job in addition to our business venture is a smart move. There is a lot to learn from working a 9 – 5 job, and I plan to have one for many years to come.

06.09.14
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Stay the Course

Look at the wealthiest people in the world: most of them own a business or multiple businesses. They may not be the happiest people, but they do have a certain level of freedom that often is not attained by working an average or slightly above average employee position. As a result, they are usually pretty happy, too. Perhaps you have no interest in starting a business because of the risks and uncertainty. I understand that. An approach that seems to be a great fit for individuals who do not feel comfortable taking significant risks is to divide their savings and time. People in this situation often separate their savings into three or more categories. I have personally practiced putting savings into three funds:

  1. Ultra conservative funds earning basically no interest — usually cash in a lock box at the bank and in a savings account.
  2. Moderately conservative accounts such as index funds or mutual funds.
  3. Risky endeavors such as investing time and money in a microbusiness that may not turn a profit.

This approach allows employees to start a microbusiness or own a percentage of a business. Someone who has some extra savings they will not miss at all may hire a few app developers and own an app development company. It may not be profitable, which is why it is categorized as risky. However, if it is profitable, they have the chance of getting a high payout. Owning this kind of business is possible while keeping a day job. They are basically in charge of finding new clients and outsourcing the work to reliable app developers while they keep a percentage of the profits since they started the company and found the work. They may even know how to build apps themselves, giving them more funds for hiring a great marketing company to help them find new clients. Yet they may not want to find too many clients. Keeping the business at the microbusiness level and working their day job may really appeal to them. Their microbusiness is likely to make them an extra $5,000 to $20,000 a year. Not too bad for a side income.

If an endeavor like this is not successful, they will only have lost a small amount of money they did not absolutely need. This allows them to give it another shot. The time spent on the project was more than likely well spent as they probably learned from the experience. Perhaps they discovered another profitable endeavor and can pursue it with the extra money set aside in their risky fund. Whether a project works or not, they keep going and stay the course even if it takes them another six months or year to set aside some extra time and income for the next business.

We all know owning a business can provide us with an amazing lifestyle. So why do many individuals quit when they fail with their first effort? They probably think it is a waste of time and it won’t ever work. These people do not realize how businesses often differ from traditional jobs. As we know, when you get a job, you go to work, and you immediately get a paycheck after working for the company. Starting a business that makes you hundreds of thousands or millions of dollars a year often takes more time – time many of us simply do not have since we have to pay bills this month. That’s why staying the course may be easier with a secure employee position. Or it may be easier when you own a business that is in high demand but not necessarily your long-term goal.

You will more than likely be successful owning a microbusiness if you stick with it. It may take you a few years, and it might only provide you with an extra $15,000 a year. However, you will begin to think like an entrepreneur once you’re successful with a microbusiness. This is the thinking that could lead you to millions because you will have a better understanding of how businesses work. You will talk with several successful business owners and read books written by successful entrepreneurs. I have owned microbusinesses for nearly four years, and I have been starting to think more like an entrepreneur who is more comfortable with higher risks and higher returns. I’m starting to realize how business loans work and how to run a bigger business. I hope all of you interested in running your own microbusiness stay the course. It may take years to become truly wealthy as a bigger business owner, but let’s be honest: It is a realistic approach if you constantly do what you need to do in order to succeed and research other successful business owners.

03.28.14
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Our First Book!

First Book! On March 28th last year we released our first book! Pick up a digital copy and physical copy on Amazon! A portion of the profits from the book will go to charity: water! http://www.amazon.com/Make-Money-Microbusiness-Anthony-Hilb/dp/0989110508/ref=sr_1_1?ie=UTF8&qid=1396011259&sr=8-1&keywords=make+money+with+a+microbusiness

09.07.13
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Team Treehouse!

Do you want to learn how to build websites, smart phone apps, and software? Then watch the video below to learn how Treehouse will help you with these goals! I’ve been a Treehouse student for the past couple of months, and I’m extremely happy with my experience.

 

Click the image below to get three months of your annual membership for free!

Start mapping your new career - Get 3 Months Free!By Anthony Hilb
08.29.13
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Get Set Tech With Micro Business

By Arjun P.

In today’s world technology has only enhanced the businesses of both major and minor corporations all over the globe. Thanks to information technology the world has become a global market for micro businesses to find their footing without having to fear about the loss of investment. Technological advancement has given these businesses easy access by the general mass with the development of phone applications. Smart-phones are enabled with the necessary software application which allows micro businesses to communicate and correspond with the buyer directly. Social networking sites have become a utility tool for not only promoting business but also an excellent way to review and get access to commodities.

Like every drop of water contributes to the formation of an ocean, in the same way micro businesses are contributing to the growth of the global economy. With a few hundred and more upcoming and future micro enterprises being set up by the hour, there are more than a million people working towards a better economic development globally. With the increase and rapid growth in information technology there is a direct exponential growth in micro businesses.

Technology has become the backbone of micro businesses and is integral to the success of the global economic system, hence giving micro businesses the right leverage to ensure independence and self-sufficiency. With search stations flooding the world wide net, micro businesses can now launch and make them available to every nook and cranny of every country throughout. Websites, advertisements in web-pages, blogging, are just a few ways technology has aided micro businesses in making themselves accessible to people around the world.

07.28.13
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The Power of Small Businesses

By Sonny O’Steen

Atlanta, GA

Americans spend much of their time watching the news about large corporations and how their decisions may affect the local economy. Make no mistake about it, the small business holds the power to the livelihoods of millions of American households. Over 20 million Americans are employed by businesses with less than 20 employees, which is quite a lot of workers. Also, small businesses generate over 11 trillion dollars a year in receipts. They produce more than 13 times more patents per employee than large corporations! That is very significant.

Needless to say, if small business owners are unrestrained, they will continue year after year adding more to the American economy than ever before. Unfortunately in today’s economy, regulation and taxes present a considerable amount of roadblocks to small business owners.

Left to their entrepreneurial spirit, the small business owner will seek to find ways to improve receipts for their business. The more receipts, the more employees and the better the unemployment numbers will look quarterly for the nation as a whole.

The power of progress rests in the hands of small business owners, not large corporations. The patent count verifies that with certainty. No other environment fosters creativity like the small business environment. Large corporations are prone to stifle creativity as their board members look to the immediate bottom line rather than the future of the company they oversee. Government economists look to the large companies to drive the economy when in fact, the small businesses can accomplish this by delivering more tax revenue because of fewer tax loopholes. If you are a small business  owner, the power of progress holds clear implications for where to focus your efforts. It suggests that you have more influence as a manager than you may realize over your employees’ well being, motivation and creative output. Knowing what serves to motivate and nourish progress – and what does the opposite – turns out to be the key to effectively managing people and their output. The small business owner champions this output and creativity every day they unlock the door.