Environmental Alternatives

(206) 324-5055
petrich@whidbey.com

Work for yourself

Be Self-Employed

Dean Petrich long ago decided that being self-employed would be more profitable and satisfying than devoting a lifetime to working for someone else. To be self-employed, Dean realized that there are certain guidelines to making self-employment efficient, fun, and profitable.

• It is important to have multiple streams of income that are opposites seasonally in order to guarantee a constant income.
• It is important to provide both products and services, since each can rise and fall with changes in the economy.
• Include both luxury and necessity items, so that no matter what the economy does there is always a demand.
• Carry high-tier, high cost items, mid-range priced items, as well as low-tier, inexpensive items -- either products or services -- so that you have something for everybody.
• Keep overhead, paperwork and travel to a minimum.
• The ideal business would be depression-proof, inflation-proof, and recession-proof.
• Consider businesses that could continue even with the loss of eyesight, hands, legs, hearing, or a voice.
• Choose businesses that help people and that make a positive, constructive contribution to society and the earth.

Ask anyone what they would rather be doing and you will be surprised to find that no matter how happy that person is with the current job, there is always something else that person has as a goal.  Most people never fulfill their dreams.  Why not?  Either they never fully visualize them,  they don't know how to make the transition, or they simply fear the unknown and are afraid to let go of what they have.  In fact, most people don't even know what they really want.  They just happened to fall into a way of making money and settled into a mind set that then becomes increasingly more difficult to change as time goes on.  This little guide might help you make the leap from your comfort zone to the untapped horizons of your desires.

1.  The three biggest money-makers are entertainment, sales, and networks.
2.  Most small businesses fail within the first two years due to poor planning, insufficient petty cash, lack of tax savings, ineffective advertising, and general disorganization.
3.  Partnerships dissolve within the first two years due to personality conflicts, greed, disagreements with business decisions, or money issues.
4.  While services rise and fall with the local economy, products tend to remain constant.
5.  Because supply and demand controls all business sales, the successful businesses are those which are best able to create the demand by staying on the crest of current needs.
6.  No matter what kind of business you think it is, all businesses involve sales skills.
7.  Products create the hardware; services repair, maintain and manipulate them; and networks link the products and services to the customers.
8. The 80-20 rule pervades everything, eg.: 20% of the businesses make 80% of the profits, etc.
9. Working an average job means you are signing on to 100,000 hours of work:  that's about 47 hours a week, 47 weeks a year, for 47 years of your life.
10.  Following are 10 reason why most businesses fail:

• Lack of management systems
• Lack of vision, purpose, or principles
• Lack of financial planning and review
• Over-dependence on specific individuals in the business
• Poor market segmentation and/or strategy
• Failure to establish and/or communicate company goals
• Competition or lack of market knowledge
• Inadequate capitalization
• Absence of standard quality program
• Owners concentrating on the technical, rather than the strategic work at hand

1.   Focus on what you truly enjoy.
2.   To be self-employed and have money, establish multiple streams of income.
3.   You should    have at least two or three separate businesses, each uniquely different from the other.
4.   The most versatile and secure combination of businesses is for one to be a service, one to be a product, and one to be a network.
5.   Think what you could do if you lost your eyesight, your hearing, your voice, your legs, your hands, your youth and health, your current reputation, or your house and all your possessions.
6.   Be clear how hard you want to work --  how much time, energy, and money you are willing to invest and for how long -- and how much you want to make in the process.
7.   Make sure your idea is unique, even if it only appeals to a niche market.
8.   Repeat business is the way to go.  How can you turn a one-time sale item into a repeat or self-perpetuating business?
9.   Word-of-mouth is by far the best form of advertising. Design your businesses to be opposite from each other in as many ways as possible.
10. There are only five activities involved in any business:  (1) conception, invention, research and development; (2) manufacturing; (3) marketing; (4) delivering & distributing; and (5) maintaining & servicing.  Which of these would you like to focus on, or would you rather supervise all of the above?  
 
 

YOUR PAST

1.  What do you remember enjoying when you were a child?
2.  What have you enjoyed doing recently?
3.  What did you used to be told you were good at?
4.  What are you good at now?
5.  What do you most enjoy doing?
6.  What have you always wanted to do but never have?
7.  Would you enjoy doing your favorite things if you had to do them?
8.  Which of your past skills would you like to develop and enhance?
9.  What from your past would you like to leave behind you?
10. Look inside and feel where your life has really wanting to be headed.

LOGISTICS

1.   Where in the world would you most want to live?
2.   Where would you like to spend most of your time while you are working:
            - in your own home
            - in a store or retail outlet
            - in a warehouse
            - in a workshop
            - in other peoples' homes
            - on the road and in hotels
            - on stage
            - traveling
            - out-of-doors
                - mountains
                - beach
                - fields
                - desert/ jungle/ swamp
                - city
                - suburbs
                - underwater/airborn
3.   Would you prefer to be alone, with a few people or with lots of people?
 

MONEY & TIME

1.   How much money do you want to make?
2.   How soon do you want to reach that level of income?
3.   How soon do you want to start?
4.   How many days a week/month are you willing to work?
5.   For how long would you like to continue this business?
6.   Can you afford the initial costs of tooling up: equipment, tools, supplies, inventory?
7. Will you be able to schedule time for extended research and planning?
8.  Would you like to make $10,000 in five months or five years?
 
 

PRODUCTS

1.  Would you like to manufacture your own products?
2.  Are you more interested in inventing, research and development?
3.  Would you prefer to handle products manufactured by another company?
4.  Is your heart into the type of product you are considering?
5.  How much research have you done on the quality and effectiveness of your product?
6.  Do you want to produce and sell your products at a profit?

SERVICES

1.  Which kind of service most appeals to you:
              - repairs
            - deliveries
            - disposal
            - clean-up
            - operation
            - maintenance
            - communications
            - travel
            - education
            - entertainment
            - medical
2.  What is your impression of the act of doing this service?
3.  Besides money, what's in it for you?
4.  Could you train other people to help you?
 

BUSINESS OPERATIONS

1.  How many people do you know who would be interested in your business?
2.  Do you want your company to be green:  does it cover environmental concerns, are the products biodegradable/recycled/non-toxic/etc?
3.  Do you have access to professional support and training?
4.  Is the timing right for a business like this?
5.  Could anyone get hurt doing this, either as a customer or you as a business?
6.  Is the initial investment justifiable?
7. Do you want to be able to guarantee a 100% refund to the customers?
8. Do you want your business to be able to give the customer life-time security?
9. Do you want your business to be international?
10. Do you want to offer 1-800 phone service?
11.Would you like to avoid spending new money that you normally would not be spending in order to operate, or are you willing to put out more?
12. Do you want to handle luxuries or necessities?
13. Do you want a business with volatility --  unpredictable and exciting like a roller coaster?
14. Do you want a business that is inflation-proof?
15. Do you want a business that is depression-proof?
16. Do you want a business that is recession-proof?
17. Could you operate this business if something happened to you, e.g. loss of hands/legs/eyes/ears/voice/energy level/etc?
18. Do you want a business that could become stressful?
19. Do you want a tax-deductible business:  meals, travel, entertainment, supplies, etc?
20. Do you want to be involved in distribution?
21. Do you want to have to collect checks that could bounce, unpaid bills, etc?
22. Do you want to track the progress of your business or organization yourself?
23. Do you want to do your own accounting or have it  done for you?
24. Do you want breakaways, or points where your income will drop if your help leaves?
25. Do you want to have to sell?
26. Do you want to conduct business meetings or throw business sales parties?
27. Do you want a business with high or low overhead?
28. Do you want to have quotas you must fill each month?
29. Do you want to stock and keep track of inventory?
30. If your business is a repeat business, what do you want the reorder rate to be?
31. What kind of liabilities do you want to have?
32. Do you want to hire employees?  Do you want to manage other people?
33. Do you want a business that it noticeably unique?
34. In case you are not able to follow through fast enough, do you have a back-up plan?
35. If you are dealing with another supplier, do you want that company to be reliable, debt-free, acknowledged by the chamber of commerce, have a positive record with the Better Business Bureau, have a high business rating with D&B, Inc 500, have consumer "A" rated products, etc?
36. Do you want your business to match and support your values and politics?
37. Do you want to work by yourself?