Video 4

Deciding Which One

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WHICH ONE ?  (This is a transcript of the video lesson #4 (on Youtube) of the same name from the series of video lessons entitled “How To Start a Micro Business”.)

Dr. Jerry Dean Epps, Ph. D.

You will think of many ideas for starting a micro business once you turn your attention to it.  The issue becomes, which one shall I choose?

Four conditions must prevail in order for your micro business to be successful.  So, you need to ask yourself these questions:

1) Do you like it?  You will need to enjoy the micro business you start.  Many times you will be putting in long hours, it is if you LIKE what you are doing!

2) Can you make a profit?  There is no point in doing a micro business that does not return a good profit.  Rut the numbers—do the quick analysis.  If that looks good, do the rest of the business plan.

3) Will it work in your area?  It may be a great idea, but just not in your area.  Only do it if it makes sense for your area.

4) Do you have the means available to do it?  Again, the best idea in the world, that you really like, and people in your area want it, is not worthwhile if you don’t have the means to pull it off—to make a go of it!

On the website, under the PROJECTS tab in the menu bar, then select “Micro Business”, you will this and other worksheets.  This one lets you play with ideas, put a mark in the box if it has the feature (the four questions) and then see if it has all 4 features.  You can rate various ideas for becoming your micro business.

Our motto: “You CAN start a micro business and earn money to improve your and improve your community too!”

End of lesson #4, WHICH ONE?

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