The Beginning of Your Financial Independence

I know I haven’t spent a lot time discussing financial independence but I hope do so as things progress.  The reason I haven’t though is because I felt I haven’t truly reach financial independence.  Though that doesn’t mean I won’t talk the things I’ve learned along the way.

In this post though my outcome is to show you that starting a part-time business is your first step to becoming financially independent.

My First Part Time Business

In 2004 I started my first part-time business in financial services.  A friend of mine who had been in the business for several years presented the opportunity to me.  At that time I didn’t know anything about financial services, insurance, or investments.

The first few years in the business I didn’t make much progress at all but I kept after it and after five years I managed to end up with a handful of clients and little bit of money.  Though after those years of being in financial services I didn’t make much money but I did learn 2 very important lessons.

1. I learned how to run a business.  You can go to school for many years to learn how to manage and run a business by reading a few books and taking a class or two is nothing compared to getting some real world experience.  The great thing about this education is that I didn’t pay one cent for it.  That’s the great thing about starting a part time business.
2. I learned how to manage my money.  Before I got into financial services I knew nothing about saving my money or where to save it or how to pay off my debt.  People can pay top dollar to get the education I did but it didn’t cost me a dime.

When You Need To Start A Part Time Business

You can start a part time business any time you want.  In fact it’s easier than ever.  With all the opportunities out there you won’t have much trouble.  I will share a few ideas with you at the end of this article.  However I must warn you though research the opportunity before you decide on any particular one there are some bad scams out there.

Starting a part time business allows you to have a full time job while you are running your part time business.  This way you can build up your business until you have enough cash flow to switch to a full time position. 

Another reason you should start a business is if you have debt.  You might be thinking this would be the worst time but allow me to elaborate.  When your in debt this is the best time start a part time business because you can learn what it takes without taking the big risk and also raise some money to pay off some debt, fund that emergency fund, or even save for your kids college education.  There are a lot of thing you could do with this money.

At any rate the clear idea here is to take action.  Don’t delay.  Those that want to succeed will take this step and go for it.  So why don’t you be one of them.

What Kind Of Part Time Business Opportunities Are There?

Before I get into what ideas are out there I should say that there two ways to go about this. 

1. Start your own business.  Start a business that you would like to do.  For example I know a guy who started his own taxidermy business and he is seeing some great success from this.  However I don’t recommend this route for any new people who want to start a business because you may become frustrated easily and quit before you really see any success.
2. Join a business.  When you join a business or what is called a business opportunity you generally pay a fee (usually a couple hundred dollars) and they will take care of everything from training to helping you grow your business.  This is my suggested route for those who have never run a business before.

Where I Would Start

These are a few of my ideas but you may know of more.

• Start your own blogging business.  This is very easy to do and has a low barrier to entry.  Just a few bucks a month.
• Financial Services.  This is where I got started learning how to run a business, manage money, and do sales.  I wouldn’t be where I am today if I hadn’t jumped on this opportunity.
• Affiliate Marketing.  This is where you set up a website to sell products on the Internet.  This is again a low barrier to entry and if you work at you can make some great money too.

Are you considering starting a part time business?  What kind of business would you like to start?  Let me know what you would like to do.  I will also be doing a sequel to this article next week to go more in depth on the 3 business I have given you. 

Until then.