In this recession, people are hungry for money making ideas.
This one definitely creates wealth, but it's not a get rich quick idea (which is a good thing, because I don't believe in those anyway).
It's the way most millionaires and billionaires have created their fortunes--by starting their own business.
Most of the Forbes 400 list of wealthiest people made the list by owning their own business.
I became an entrepreneur after 27 years in the corporate world and, although it took some getting used to, I love it! It doesn't feel like work when you love what you do.
If you're an entrepreneur, good for you! In this economy it's the small business owner that will help us grow out of the recession.
I attend conferences regularly with hundreds of entrepreneurs, especially women, who are starting businesses at two times the rate of men.
They are following a passion, or a calling, or both.
Many of them have businesses that offer some kind of coaching and they're doing quite well.
I highly recommend looking into it, if coaching interests you.
You can start a part-time business while you're still employed and grow it on the side.
When I started working on making my first million dollars, I was working full time, and commuting an hour each way.
I had a very stressful job and I started getting up at 4:00 in the morning to invest in stocks.
It paid off handsomely! You can operate a business in your spare time, if you're committed to it.
For people that have a hobby or skill that they could turn into a business, I think that now is a tremendous time to do that.
I encourage people to really go for it, with the internet this is the best time to do it! You can market to the entire world with very little cost.
I've seen people make a quarter million dollars a year having a website for quilters or palm reading.
It's not about having a big idea, it's about letting people who are like you, find you.
So what myths am I talking about? Here are three I hear a lot: You have to have a great idea to start a business.
Reality - It doesn't have to be a great idea.
A good idea well executed is much more important.
You have to have a lot of money to start a business.
Reality - While it can be expensive, it's never been cheaper to reach more people than now through the internet.
Think about it.
Businesses used to have to use direct mail to market.
Now people can be found in online communities and through social media.
Once they opt-in to your website by giving you their name and email address, you can email them for free! No postage necessary! Some of the big internet marketers today have lists of 20,000, 50,000, or 100,000 people! Imagine having contact with that many people.
Like all sales, it becomes a numbers game and he or she who has the biggest list of contacts, wins! My hobby is too obscure.
Reality - Some of the best online businesses are narrow niches.
That actually works in your favor online.
You can let all the people who are like you find you! So if you're interested, go to the library and check out some books on entrepreneurship.
Save your name as a domain, it costs less than $10 and you can "park" it until you're ready to use it.
There are sites that specialize in domain registration such as GoDaddy.
com.
Or, instead of your name, you can register and reserve, a clever phrase.
It's like internet "real estate" to own domain names.
So start thinking about using your talents.
You may make a spare $100,000 online someday.