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Starting a Small Business in New York

Starting a small business can be a great way to supplement your income during lean times

Finding part time jobs in NYC definitely has its challenges. Current economic troubles have forced many New Yorkers to become creative when it comes to their income. The following is a story of how one man started a small business in order to supplement his current income.

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Robert retired five years ago as a vice-president of a large corporation. Although he has several sources of revenue, he has been looking for ways to generate some supplemental income in order to continue to build his nest egg. He also has a desire to be in a position to help family members who may need help. He decided that he would rather not look for part time jobs in NYC because he was enjoying determining his own schedule as well as enjoying time with his grandchildren. Robert decided to think of a small business he could start which would accomplish his goals.

Robert's first step was to brainstorm. He sat down with a pad of paper and began to think about all the things that interested him. Figuring out your interests will help to determine the direction you will go. After all, starting a small business requires some passion in order to see it through. Not only did he brainstorm about his interests, but he also wrote down his accomplishments and skills. After creating this list, he began to rank his list of interests to match them up with his accomplishments and skills. Robert decided that he could probably turn his love of video biographies into a small business in which he would create video biographies for people for a fee.

Next Robert looked at creating a business plan to understand more clearly the details of his idea. Actually writing, an outline of the business you hope to create, will help to articulate your vision and mission of the idea. It also helps you to know what start-up money you may need, if any, and/or what you will have to do to generate the revenue you will need. A business plan will also help you to think about ways to market your idea or product and to implement the plan. A business plan does not have to be lengthy. It can even be the size of the proverbial "cocktail napkin," but it is essential to putting your idea into action. When you are finished, refer to your plan often and make any necessary changes or add new ideas.

Third, since Robert already had video biography equipment from his hobby, he was able to move ahead to the actual networking and marketing portion of his plan. He began by telling his family and friends about his idea and showed them samples of work he had already done. He created a name for his company and started a blog about his business. He started to generate traffic to his blog by passing out simple business cards and asking friends and family to do so as well.

Robert thoroughly enjoys his small business. It is generating the revenue he hoped for without having to look for part time jobs in NYC, keeping his schedule open in order to enjoy time with his grandchildren. Taking a hobby or interest you have and offering it to others can be a fun and productive way to start a small business.

Robert didn't need any start-up capital due to the fact he already had the equipment necessary because video biography was already a hobby of his. If, however, you find you will need some initial funding, there are many banks and other institutions willing to lend small loans to people in order to get started. Additionally the Small Business Administration offers guidance, services and tools to help you get started.

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