I haven’t been writing here as much as I used to. Time and life have been moving by very fast. One of the things I’ve been working on is a second stream of income. Largely it’s been building up some manner of entrepreneurship. The main idea is to offset some bills and perhaps pay down residual divorce debt a little more quickly. The challenge is in making it a thing that I can do while still being productive at my main profession. Thus it ideally:
- Requires minimal time to maintain
- Operated from home/laptop
- Easy to track expenses and income
- Can quit or adjust if need be (no continuing obligations)
- Will make me filthy rich
Okay, that last one is less important. There is a hobby aspect to this as well. There is something attractive about generating commerce. More big picture, in contributing to a business, all the smaller parts of the business prosper as well. Shipping and materials providers have some work to do. Potentially this could be something where I could hire someone to help out (even if it’s my own kid) or maybe build the business big enough to sell so someone else may prosper.
I started with an idea from my dad. The only way he could reasonably buy some items was wholesale, but he only needed a few of the items. The thought was that there were a number of people like my dad. So my silly wholesale/reselling business started. It’s very low risk as I only need to put in a few hundred dollars a year and very easy to manage. The items are small and shipping is easy. The only problem is the margin is kind of small.
I’ve been looking for additional items to sell to varied success. I’m getting a good view of how stores work. You need a lot of items that appeal to a lot of people to make any significant money. Cough…Amazon…cough. I also get to see the side of pricing and inventory keeping in such a way that I don’t lose money. That can be a little tricky. Everyone needs their “pound of flesh” along the way. I need to remember that this is part of the hobby aspect where it’s nice to just facilitate commerce.
I’m starting to weigh getting into a little bit of manufacturing of the items I sell as well. This would be assuming more risk, but at the end of the day I really love making things. In particular making high tech things or precision things.
I hope to get back to writing more on here. Maybe blog on my business endeavors and give some pointers. It would be nice to make the WordAds work for me too, but again the love of doing these things and the potential help and contribution they make are the real passion. I need to remind myself of that at times.