As more people in rural America find themselves laid off or working reduced hours, the idea of starting a small rural business or expanding the one you already have is something to consider. Here are several online resources to help you think things through.
In Advice for the Accidental Entrepreneur, Dr. Jeff Cornwall defines who ‘accidental entrepreneurs’ are and the types of businesses they often create:
The recession is creating many “accidental entrepreneurs” — people who suddenly find themselves out of work with no viable option except to make it on their own through self-employment or starting a small business.
A question I am frequently asked these days is, “What kind of business can I possibly start?”
The best business opportunities come from things people already know something about. They come from our work experiences, our hobbies, or our everyday lives. Find something from your experiences that is also a need for others.
How passionate do you need to be about your new business? Take a look atWhy Passion is Overrated: The Secret Truth to Creating a Successful Business.
To give us a ‘pep talk’ with an historical twist, The Silver Lining of Economic Downturns provides a short list of innovations that entrepreneurs introduced during tough times, providing it can be done!
And although it can be a different and difficult time to launch a new product, there are some actions you take to improve your chances of being successful, provided in Starting Up: Four Ways to Get Customers to Buy Your New Product.
What kinds of rural business start ups are you seeing in your town?
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An artist in my town who usually works with leather and wood, has started offering a shoe repair service through a retailer downtown. I thought it was good use of his skill. It probably also helps the retailer who already had the store space. More people will probably want to repair shoes if they can, rather than buy new pairs if they don’t have to. So the market for the business is probably good right now.