Micro Magic
Bob Weinstein is a journalist who covers technology, project management, the workplace and career development.
With one out of every 10 Americans out of work, this may be the ideal time to consider starting a microbusiness, according to entrepreneur Dal LaMagna of Poulsbo, Wash. The author of Raising Eyebrows: A Failed Entrepreneur Finally Gets It Right launched personal beauty tool company Tweezerman in 1980 with $500, built it into a multimillion dollar international company and sold it in 2004. He attributes part of his success to starting small, keeping a low overhead and borrowing little.
A microbusiness is a business with one to five employees (a sole proprietorship is technically a microbusiness). LaMagna says this is an ideal time to launch a microbusiness. Last year was a record year for launching new businesses, according to The Kauffman Index of Entrepreneurial Activity, which measured new business startups over the past 14 years. Reasons cited include the recent recession, climbing unemployment statistics and an erratic job market.
An added incentive was President Obama’s Small Business Administration lending package, which made it possible for entrepreneurs with viable business concepts to start a business without angel capital. LaMagna is living proof that a business can be started with little capital. If careful and frugal, it doesn’t matter whether it’s a project management or IT consulting firm, a consumer electronics website or a beauty …
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"All progress is based upon a universal innate desire on the part of every organism to live beyond its income." - Samuel Butler |
