Businesses To Think Twice About Starting In A Recession
You’ve recently become unemployed and the idea of starting a business is very tempting. There are a few businesses that you should be wary of starting though. Here are a few and the reasons you should think more than once.
That Bar In The Sun!
During a rain soaked, wet day, it is tempting to sell up everything and set up that bar in Spain/Florida/Anywhere sunnier. You’ve been there on vacation and did not want to come back home. If you take off the sunglasses and have a good look around, you will see that the bars are open long hours and the owners are pasty white and tired. That is because you will need to work long hours and not be able to get out to enjoy that sun. These types of bars are highly competitive and the opportunity of making a profit is small. Ditto for bars near ski slopes etc.
Bed and Breakfast
The thought of letting out your spare rooms, rattling up a bit of breakfast and raking in the profits must seem tempting sometimes. First of all you are going to be subject to a whole pile of health, safety and fire regulations. Then there is the extra insurance in case you poison your guests or they fall down the stairs! You are going to need a lot more marketing than putting a vacancy sign in the window – unless you are on the sea or lake front of course. If all of this does not deter you then remember that you will be having strangers wondering all over your house breaking things and the person that says good night at 11pm is the same one that gets up at 6am to make an early breakfast for them.
Independent Consulting
This sounds a great idea – and for many, me included it is. You did need to understand that you will only be earning that great charge out rate for about 40 – 50% of the time. The rest of your time you will be chasing work. Factor in spending loads of time away, working without the support of a large company and you can see why independent consulting is only for the gifted few.
Good luck at what ever business you choose.
Businesses To Think Twice About Starting In A Recession - To learn more about this author, visit Lee Lister's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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