Start a Micro Business with No Debt. Dollars and Sense Show #16

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I hate debt-especially for a teenager starting a micro business!

Dollars and Sense host, Carol Topp and guest host, 17 year old Jonah Wilson, discuss 5 dangers of using debt to start a micro business.

In the podcast, Carol and Jonah mention Starting a Micro Business, a helpful book (and ebook) that can be very helpful in launching your micro business.

Show Notes:

5 dangers of starting a micro business with debt

  1. Debt presumes on the future
  2. Debt encourages quick decisions, not careful planning6
  3. With debt, you are a slave to lender
  4. A loan can increase the risk of failure
  5. Debt can stop blessings.

Listen to the next Dollars and Sense Podcast (Episode #17) where Carol will discuss paying workers in a homeschool organization.

 

Start a Micro Business with No Money. Dollars and Sense Show #15

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Do you (or your teenager) want to start a micro business, but fear you don’t have the money to start?

Dollars and Sense host, Carol Topp and guest host, 17 year old Jonah Wilson, claim that you can start a micro business with no money!

How?

Listen in as Carol and Jonah share several ways to start a micro business with no money

In the podcast, Carol and Jonah mention Starting a Micro Business, a helpful book (and ebook) that can be very helpful in launching your micro business.

Show Notes:

What does it cost to start a micro business?
If a product-based business,  then inventory, packaging & shipping and advertising costs
Maybe equipment like computer, lawnmower, oven, piano, etc.
If a service-based business, then not much start-up money needed except for ads, a website, business cards, etc.

Where does the start up money come from?

  • Savings
  • Start as a hobby/volunteer/only break even
  • Investor (or small loan from parents), but not a partner
  • Sell something
  • Work a temporary job
  • Start a service business and save up to launch a larger business

Listen to the next Dollars and Sense Podcast (Episode #16) where Carol and Jonah will discuss the dangers of starting a micro business with debt.

 

Dollars and Sense Show # 3: What a business plan can do for your micro business

In this episode of the Dollars and Sense Show host Carol Topp discusses

What a business plan can do for your micro business

Based on her book Starting a Micro Business, Carol explains what a business plan for micro business can do for you and why a it is guaranteed to bring you success!

Show Notes:

Creating a Business Plan

Concept:

The product or service

How to measure success

Marketing

Potential customers

The competition

How you will stand out

Financial Plan

Cost to start

Price to customers

On the show Carol mentioned a YouTube video based on her book, Starting a Micro Business.

and her Pinterest page with lots of micro business ideas

Here’s a free e-booklet on creating a business plan for a micro business. This is a 24 page extract from Carol’s Micro Business for Teens books

CreatingBizPlanCover_small

Tune in for the next Dollars and Sense show on November 21, 2013 when Carol will discuss Unplugging the Christmas Machine: Four Things Children Really Want for Christmas.

 

 

Dollars and Sense Show # 2: Finding and testing a great idea for your micro business

In this episode#2 of the Dollars and Sense Show host Carol Topp discusses

Finding and testing a great idea for your micro business

Based on her book Starting a Micro Business, Carol explains several ways to come up with a great micro business idea and then test that idea so it will be a success!

Show Notes:

How to come up with a great micro business idea:

How to test your idea: Do a mini market survey. Ask at least 5 potential customers if they need what you are offering, would they buy from you and what price they are willing to be paid.

You can conduct your survey in person, by email, on Facebook or with the help of mom and dad!

 

On the show Carol mentioned a YouTube video based on her book, Starting a Micro Business.

and her Pinterest page with lots of micro business ideas.

Learn more about starting and running a micro business and tune in for the next Dollars and Sense show on November 7, 2013 when Carol will discuss what a business plan can do for your micro business.

 

 

Dollars and Sense Show # 1: What is a micro business and why is it such a great idea?

 

 

On the Dollars and Sense Show first show (yes, show #1!) host Carol Topp discusses

What is a micro business and why is it such a great idea?

Based on her book Starting a Micro Business, Carol explains what a micro business is and why it’s such a great way for a teenager (or mom and dad) to earn money

Show Notes:

What is a micro business

  • Simple and fast to start up
  • Only one worker, the owner
  • Sole proprietorship (only one owner, unlike a partnership or a corporation)
  • Little start up money needed or completely debt free
  • Usually home-based
  • Low risk
  • Manageable
  • Learn while earning

What can you learn?

  • Business skills: customer service, marketing, pricing, record keeping, taxes, etc
  • School skills, math, writing, speaking
  • How to manage time, balance commitments, multi-task
  • How to overcome shyness, be unique, gain confidence, overcome fear and express yourself

On the show Carol mentioned a a YouTube video based on her book, Starting a Micro Business.

and her Pinterest page with lots of micro business ideas

Learn more about starting and running a micro business and tune in for the next Dollars and Sense show on October 24 when Carol will discuss finding and testing a great idea for your micro business