Tightrope: Inspiration for your business may be close to home

ByABC News
January 28, 2009, 3:09 AM

— -- Dear Gladys,

I have a couple of questions. First, I have small children and would like to work from home. I don't have money to make a big investment to get started in a business. So, how do I determine what I can successfully do from home to make a decent living?

And, during these tough economic times what suggestions do you have that will give a struggling person like me a glimmer of hope for a brighter future?

M. H.

Many successful businesspeople started home-based businesses on a wing and a prayer and with minimal investment. And in many cases they had no experience. What they did have was an idea. Along with commitment, determination and imagination, they developed their idea into a successful income.

There are basically three ways to make money: offer a service, create a product or sell your knowledge. Make a list of the things that you know how to do and fit them under these categories.

Maybe you have an old family recipe for bread or you know how to make the great American barbeque sauce that you can package and sell. The object of the game is to use what you know to provide support for your family.

Sometimes we search afar for a way to make a living and the answer is right under our noses. I believe each person is unique and has some sort of skill that can produce a good living. Take time to search what is unique about you.

Also, sit with a few friends and have a brainstorming session that could spark an idea or two.

A reporter once asked Henry Ford what he would do if he ever became bankrupt. Mr. Ford replied that he would think of a simple idea, something people needed, and he would find a way to give it to them.

Keep these two things in mind:

1. Examine all the things you are capable of doing and what you can do with them.

2. Examine all the resources you have at your disposal and decide how they can assist you.

As for how to maintain an optimistic outlook as we move through tough times, I suggest that you put faith and commitment into doing the things that you can do to help improve the situation. Once you decide on what skills, knowledge or service that you can bring to society to help make life better, put your all into it and bring it forth.