I'm finding it difficult looking for work, I've got a bad knee and a bad back for starters. I would like to start a hobby-home buisness.
I can repair electronics but where I am geographically importing components would be expensive though not impossible. If I were to start doing this as a home buisness (Not a registered buisness yet but as a hobby) what would I need in terms of documenting income and outgoing costs.
I know I need a receipt book and a quote book (already got those), where to from there? I suppose I could also get a receipt printer and use free software for printing off receipts for customers?
I'm thinking of importing soaps/toothbrushes/non-perishables and selling them off in my home as-well instead of driving around town I can use my networking to get people to come to my house and look at the stock (on shelves, or from a briefcase). I could start doing this with family friends and let the networking go from there.
I could also import cheap laptops from the US or Taiwan but I don't know the language, where would I get started in this?
Do I go to Alibaba.com? I've sent quotes away to some shops but none of them ever reply?
I need to start making any kind of money, it doesn't matter how much I would be willing to make even just 25% profit or less. My lifestyle is very frugal anyway.
Thanks for your suggestions.
I can repair electronics but where I am geographically importing components would be expensive though not impossible. If I were to start doing this as a home buisness (Not a registered buisness yet but as a hobby) what would I need in terms of documenting income and outgoing costs.
I know I need a receipt book and a quote book (already got those), where to from there? I suppose I could also get a receipt printer and use free software for printing off receipts for customers?
I'm thinking of importing soaps/toothbrushes/non-perishables and selling them off in my home as-well instead of driving around town I can use my networking to get people to come to my house and look at the stock (on shelves, or from a briefcase). I could start doing this with family friends and let the networking go from there.
I could also import cheap laptops from the US or Taiwan but I don't know the language, where would I get started in this?
Do I go to Alibaba.com? I've sent quotes away to some shops but none of them ever reply?
I need to start making any kind of money, it doesn't matter how much I would be willing to make even just 25% profit or less. My lifestyle is very frugal anyway.
Thanks for your suggestions.
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Hi freax,
... I would be hesitant to make specific suggestions but if it were me I would look at what I knew well and what was genuinely intuitive to me, i.e. what could I do without much extra effort. I.e. where does knowledge, interest, skills, ability to learn/absorb new needed information & skills, "wish for life", personal strengths, network, geography, financial ability etc. merge? Not necessarily in the first round/attempt but possibly "planned" to eventually lead to the desired area of business. Would it make sense to find external financing or help of some kind?
Also, I'm thinking that where I live we have public services that help in assessing a business idea as a way of evaluating its feasibility before any person may decide to enter into such a business.
What just popped up - the best of luck in your endeavours ...
Jesper
... I would be hesitant to make specific suggestions but if it were me I would look at what I knew well and what was genuinely intuitive to me, i.e. what could I do without much extra effort. I.e. where does knowledge, interest, skills, ability to learn/absorb new needed information & skills, "wish for life", personal strengths, network, geography, financial ability etc. merge? Not necessarily in the first round/attempt but possibly "planned" to eventually lead to the desired area of business. Would it make sense to find external financing or help of some kind?
Also, I'm thinking that where I live we have public services that help in assessing a business idea as a way of evaluating its feasibility before any person may decide to enter into such a business.
What just popped up - the best of luck in your endeavours ...
Jesper
Tubelab is not my first business venture. There were several no name ventures where I designed products for other companies and two other electronics companies, DMA Engineering and G & S Programming. Each met with varying success, and one sold a quarter of a million units, but all went away for one reason or another.
I started Tubelab by building amplifiers for my friends, and my daughters friends. I have been building audio amps since I was very young. They were mostly guitar amps, but they sold by word of mouth. I built an amp, then eventually found it a home, then made another. Then I made the first Tubelab TSE. More people wanted these than I could make in my free time, but most of the customers were technical people who could solder (friends from the electronics plant where I worked) so I drew up some simple assembly instructions and had a box full of boards made. I sold those to friends....then someone suggested a web page. Sales were poor, until I made the SSE. Sales improved, but were sparse until builders started talking about their experiences on forums such as this one. Whatever you choose, you must be able to do well, and go out of your way to make customers happy.
Tubelab has paid for itself nearly every year, but only made a small profit ($1.5K) in one year (2007). That must change now that I am unemployed. Employment in this area is booming due to the oil and gas industry, but nobody will hire a 62 year old engineer. I am working on adding some more products to Tubelab and try to actually make money at it, but only time will tell.
I have managed to reduce my overhead every year to match or beat the declining revenues from todays less than vibrant economy. Less people have money for non essential "toys" than they had in 2007. I had almost $5K per year in rental storage space, now that is zero.
I don't know the laws and codes in your country, but some type of business license is probably required. We chose to incorporate Tubelab as a separate entity for legal reasons. I don't know the details in your country, but there are startup costs (About $1000 in my case) and yearly "filing" and license fees ($400 per year).
If you are going to be on the internet, you need domain name registration and hosting. Free and cheap services exist, but they usually stick their adverts on your site, and bandwidth is restricted. Your site slows down as you near your limit, and goes dark if you reach it. I pay about $300 per year for a reasonable compromise.
I don't have either.
I got an $89 Canon laser printer that I use for everything. I made my company letterhead, blank invoices, and other "official" looking documents in a 10 year old version of Microsoft Word. Keep a template copy on your hard drive, fill in the details for each transaction, and print it for the customer. Keep a copy on your computer, using a new directory for each year. Keep a backup on a flash drive somewhere else in case your computer dies.
I have been told it's archaic, but I use Excel 2003. I use Paypal for 95% of my income, and about half of the purchases. I have a business checking account with a debit card for other purchases (Digikey doesn't take Paypal) and postage. The bank accepts deposits of checks and money orders. Excel will eat the bank and Paypal statements as text files. I can see where all the money goes on a single spreadsheet. This is what I need for P/L statements at year end for tax purposes. Keep all bank statements and print out a copy of the Paypal yearly statement.
I have never been interested in merchandising. Unless you have an unusual commodity, it's nearly impossible, at least here, to compete with Amazon and Walmart. If you do find a successful niche, it is only a short time before someone tries to knock you off and push you out. Whatever you can get from Alibaba, they can get too, probably cheaper.
I wrote some "how to" manuals in the 80's. A couple were big hits, sold in the classified section of the Computer Shopper, and Nuts and Volts. It took about a year for some low life to scan them and post them on the hacker BBS's. Game over.
I designed some simple but highly useful devices around the early PIC chips. One was the big seller. It was so simple that anyone could copy the design, but only I had the secret code inside the OTP PIC chip.....for about two years until someone paid big bucks to have the chip dissected and reverse engineered. Again, game over. You can't be too successful or someone with deep pockets will blow you out of business.
I used to be the only guy here selling circuit boards for tube amps, now there are several, including one guy who is selling his copy of one of my designs. I haven't been able to devote much time to Tubelab since my job and other issues consumed most of my time for the last few years.....that's about to change. There will be another major effort at getting Tubelab profitable. If that doesn't work out. I have two other business ideas waiting.
You have shown an interest in low power computing. I have been following these trends for both of those business ideas. Perhaps there is a need for some type of (portable) product or device that you could make from off the shelf PC parts. There are plenty of battery and charger options in the RC model hobby, and unique IO cards are available. This is a very fluid market that changes almost daily. What you can get today, will be gone tomorrow.
Too complicated? Can you make something unique with an Arduino, Galileo, or other single board computer? Combine that low cost, low power PC with a $30 100 watt stereo amp board from China and a pair of speakers for a killer portable music player. Not everyone can combine simple commonly available elements to make a sellable product.
There IS something out there the trick is to find it. Keep trying until you find it.
Timing is everything. I helped a friend make a cordless phone prototype in about 1971. It worked, and the friend tried for over a year to find someone interested in in marketing it, but there was no interest. The device was too big and battery life sucked....the technology wasn't quite ready yet.
I got paid a LOT of money to design a tracking device. It used a Nokia cell phone, a GPS board, and a modem chip from a credit card reader. You placed the device in a car (or whatever) and could track it's movement on Microsoft Streets and Trips. This was about 1998. I explained to the principal investors that this technology would be installed in EVERY cell phone made within a few years, but it took them too long to get it manufactured. They never recovered their investment, but it did lead to a couple of follow on devices that were successful.
I hope I have provided you with a few ideas......
YouTube is a part of my game plan. See this thread:
http://www.diyaudio.com/forums/tube...n.html?highlight=youtube+electronics+learning
I had a rudimentary lab in my Florida house. It was stuffed into a 10 X 10 foot room and functioned as a lab, listening room, wood shop, metal shop, and storage room. I had to tear down one job to start another one. I did every thing from melting tubes, to building PC's, and even rebuilt my cars transmission on that same work bench. I shot still pictures there but there wasn't room for multiple camera video.
That house has been sold, and all of my stuff is in storage for a few more months. I have relocated 1200 miles to the north and a new house is being built. I will build a new lab in the basement with a lot more room and some dedicated workspaces, and a video area. It will be 6 months or more before some functionality exists, longer before everything is how I want it.
I saw it last night......the mods usually leave a message behind when they eat your post. Microsoft eat your homework????? That excuse worked for me in programming class.
I have more projects in my head (or computer) that I have lifetime left, but I am always open to discussion.
I have been asked to do a lot of projects over the years. Most I refuse because they are not well thought out, or even possible, or have no business potential. There have been a few that came with $$$ up front that got my attention. The tracking device came about because 3 well funded gentlemen walked into the college I was attending and asked one of the professors if he could turn their idea into reality. The professor called me.
Mr. Tubelab I was living in Altamonte springs and move 1350 miles northwest after 2 neck surgeries a few years ago lol...me as well in the ideas....I think the one I have is doable and crosses numerous markets...money upfront no problem.... Have had this bouncing around in the skull for 4 years...
Folk who make money in a recession are the ones who can seriously undercut their competitors, if you can find a way of doing that while still making a profit.......
One way is to buy up stock real cheap from bankrupt firms and sell it on for a reasonable price.
Hi res digital audio is a rising business but not everyone wants to use their PC, might be something there you can do. How about a decent but affordable stand alone server with a good quality DAC built in? Or some snake oil computer cables
One way is to buy up stock real cheap from bankrupt firms and sell it on for a reasonable price.
Hi res digital audio is a rising business but not everyone wants to use their PC, might be something there you can do. How about a decent but affordable stand alone server with a good quality DAC built in? Or some snake oil computer cables
No politics. And no discussion of moderation.
There you go! The world seems willing to buy $50 (or worse) HDMI cables, Why not "audiophile grade" USB cables to connect your DAC.... "faster than an ordinary USB cable!"
I prefer to find a market with NO competition, and then pack up and leave when the market gets crowded. When you have to cut price to keep up, and cutting price means cutting quality, nobody wins.
I have several friends still in the area, Casselberry and Longwood. I'm sure you have heard the words "held prisoner on I-4" on TV, WESH I believe. I lived in Dade or Broward county for 61 years.....I've had enough. I miss my friends, but not Florida.
Well i miss Florida this cold midwest weather it killing me, even though I grew up here amoungst the corn and pig LOL..
we should really talk sometime..
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