Personal Business For Life (PB4L): Examples
I have a theory that every man, woman and child on the planet needs a personal business for life; something to fall back on if all else fails.I believe the entrepreneurship and enterprise is one of the main ingredients in pulling a people out of poverty. So I collect stories on how people did it. This is a page started in May 2008, to colelct more of the same.
The kinds of enterprises does not include things like the guy who tells you: "I can show you how to make a million! Just send me ONE dollar, and I will tell you how." And, of course, the answer is: "Get a million fools to send you a dollar to tell them how..."
So they have to be real businesses. One way to find inspiration I think would be to go get a copy (from your library) of the Encycolpedia Britannica and look for crafts from the 1930s. Say, for example, making high end paper for socialites and important persons who want acid-free paper to preserve their writings. Who knows what you might find there.
To read more, click on: Thought Experiment.
1. MINI HERB FARM IN THE SUBURBS: you never know where a PB4L may pop up (so to speak).
Here is an example from BusinessWeek, where they are turning small properties in the suburbs into profit making herb gardens.
It is not just that this represents local food growing and a (small) contribution towards a more environmentally sustainable economy, it could be a cool thing to do with your family as well:
Here is a bit of analysis on the above:
Mini Herb Farm in the Suburbs Analysis
Area 0.125 acre
43,560 sq. ft. per acre
5,445 sq. ft.
Cost of Plot $5,500 BW
Start up Cost $2,000 BW
Sales $15,000 est.
Gross Margin 30% est.
Gross Profit $4,500
IRR Cashflow
0 ($7,500)
1 $4,500
2 $4,500
3 $4,500
4 $4,500
5 $10,000
$20,500
IRR 58% p.a.
Notes:
1 Sell for the same as you purchased for at end of year 5.
2 You can probably require most developers to put aside
more than 5% of their lands for parkland and mini farms
too. You might even be able to get a plot for a de minimus
annual rent.
2. BUILDING LOG HOMES
Here is a story of a guy (Dan Albert) in Barry's Bay, Ontario who left his job in the City and 'stumbled' onto his PB4L. (From the Ottawa Citizen, May 3rd, 2008.)
http://www.dramatispersonae.org/EntrepreneurialistCultureFrontPage.htm