Since we have covered the questions in the e-mails that came in about our previous posts regarding the business route on how to make money, our next topic is primarily going to focus on a business venture that many decide to do and can make turn into a lucrative career with right direction and ideas. This option is deciding to open a small food stand or small food business. This idea many people think about but few actually do it. We will throw some ideas out there for you to think about when evaluating weather or not you want to explore this kind of way to make money.
People Are Hungry – The first main attraction to this idea is the fact that everyone needs to eat. People need to survive and there will always be a demand for the food service. The more and more that our culture grows, populations increase, and the world as a whole expands, the more important food will become to us. If this is not enough security I do not know what is. If you can break into the food service industry and provide good food for a reasonable price you will definitely have a business that can prosper.
Find A Specialty Niche - No matter what it is or who you are catering to it would be in your best interests if you can find a specific service in the food industry that a vast group of people are willing and can benefit from. For example many have started hotdog stands in New York to cater to the big business tycoons, or traders on Wall Street. Those people have to eat so people have seen an opportunity to provide a service for them. They are hungry and need to eat lunch, sometimes dinner, in a limited amount of time so people have recognized this and have provided a service to them.
Custom And Culture – To help with your niche maybe you want to think of that special dinner your mom or grandmother always made on certain occasions. Maybe you can make a really mean chocolate cake or cookies. Think about your favorite meal that you can make and that you have a passion for. If you can bring your passion to others, most people will pick up on that and your chances of success increase. These are perfect things to consider that are specialty services that you can provide to people.
The Basics – Some of the most successful ways that people figured out how to make money all have a rule of thumb. Some of the most thriving businesses in the food industry have followed these rules (The Basics) and they have proven trustworthy.
1. Find your niche, or specialty
2. Provide good food, good service, at a reasonable price
3. Keep it simple, do not over do it. Start slow and branch out later
With all of this information you can self evaluate whether this way of making money is a fit for you. In no ways is it going to be easy and will take some hard work and dedication but if you can follow the basics you will have a great chance at a rewarding career that could lead to the potential of opening more franchises and expanding out at your own will. We hope this gives you some ideas to think about on how to make money with a food service and helps in your future decisions.
Finally with some footwork finished and a lot of discussion that we have had in the past week or so I think we are able to share the information that we have. First off we would like to mention that we are doing our best to find a nice medium by sifting through all of the specifics that we don’t understand and yet staying away from the stuff that makes us say, “Well yeah that’s common sense”. We have scaled the list down and consolidated because surprisingly most of these cons are related and can be avoided if our advice is followed from the last post. So here is our list of cons in how to make money (business style):
One of the major cons that we have come across time in and time out is ownership or management reliance. Unfortunately the companies that are large have higher ups that seem to reap all of the benefits of our hard work. We have all been there and well in most cases this is true. It is really hard to find a company that has management and owners that are willing to act on the trickledown effect when it comes to money and securities and appreciative benefits to employees when times are good. It is interesting to note, that they are always the ones to go ahead and pass the buck onto the employee when times are difficult. You are intrusting your future to the owners and managers and if they make a bad decision you will be the first to feel it. You have invested your time and life into a company and in turn you have total dependence on what the company does. Your well being is in reliance with the owner or managements decisions.
Very similar to the previous con, a board of directors or partners can become somewhat negative. In this instance you may not have one person calling all the shots but a group that are making decisions and doing what they seem fit for the company. In this case the majority of the time they will do what is in the company’s best interest because if the company doesn’t make money they don’t make money. This does give you (the employee) some assurance but again the board will be making decisions to best fit themselves as a group.
Another con is the fact the longer you are with one company the high risk sector you are in. All of your years of investment in one company now makes you vulnerable in difficult times. If you have worked your way up the ladder and now are doing fairly well for yourself, you now are at a high risk when the company is considering cutbacks. Your success is a double edged sword and if the company needs to save money because of a tougher industry you can be at risk.
The next con that relates to the previous one is the fact that the business world is very competitive. If there is someone not only in the immediate area but in the world that can do it faster and at a cheaper rate the company will probably go that direction to keep costs down. This puts your security directly at risk.
The next con is the higher education requirements. In today’s world, 82% of all people entering the business world are employed at an entry level position and are required to have more than just a high school degree. This is a way of seeing if you have what it takes and a way to prove yourself to your future employer. For some people this can become a problem because they can still contribute to a company greatly but just haven’t had the opportunity or means to go and get a higher education. In our society today that is the driving force and society has dictated to us that higher education is essential.
The final con we have decided to bring attention to is what our consultants like to call “office politics”. This is mainly in an office situation having to deal with people. We all have come across the people that are inconsiderate and only think about themselves, and the probability you will be working with one of these people is almost certain in a business environment. This puts a strain on everyday work practices and can get exhausting to say the least when you always have to stand your ground and defend yourself to others just to be able to go to work and do your job.
So there is our basic list trying to make it as short and sweet as possible. If anyone has any comments or questions feel free to ask we will get another post up if needed. Hopefully this gives you some things to consider and think about and we hope this will help you in your decision on how to make money.
Since our last post we have been receiving some e-mails and been asked more questions that deal with going more in depth about the pros and cons of working toward a lifetime career with one company. We have been given some specific examples and specific questions that some people have and we will do our best to answer all of these. Since we just started out with a general overview of getting a solid job with a company and some history that has helped contribute to the work force that we are in today, we will back it up and cover the pros and cons of this way on how to make money.
Making money this way has goods and has its bads like anything else. To make our decision on what direction we want to take; we all need to ask ourselves what we can live with and what we cannot live with. Some situations we will be put in we can deal with and others we can’t deal with. It is based on you the individual. First we will be covering the pros of being a part of a company that is considered a large category company. One of the nice things about getting a job with a large solid company is that you have plenty of room to grow within the company. At first if you can get a good job that is not a high paying position but because you have plenty of opportunity to advance, this is considered a good move toward your future. This for example, is the saying “You just need a chance to get your foot in the door”. Another way of saying it would be to take an entry level position and sacrifice now so that you will be able to put in your time and advance before you know it.
Another positive is the fact that you have a large variety of industries to choose from. Within those industries you also have different department you can choose from. This is a great thing to have because you can find your niche, and customize your work to what you like doing. You can move from department to department and take on different positions as you put in your time with the company. Another way that you benefit from this is not just the fact that you learn all of these skills along the way but you really get a sense of what goes on in the company or industry you are a part of. It is like learning the ropes so to speak. I for one am not someone that likes to learn one job and focus on that job for the next 10-15 years. For me that would get boring really quick. I prefer learning one position mastering it and moving onto another. Let’s face it, the more you know about the company as a whole and if you know all the ins and outs of a company, the more valuable you are to that company. The more you can contribute and the better the company is because you know what is position requires and you can have things run as smooth as possible for all departments and positions.
The next thing that is a plus in how to make money in a business setting is that you do have a certain amount of financial strength. By financial strength I am referring to the security that a large company or corporation can provide you with. Thanks to state laws, companies are required to pay its employees in a timely manner. Most paydays are weekly, or more common, bi-weekly. This gives you the assurance that your money that you have made and worked for will be there. You never have to worry about not having a check. This affects your life directly and will allow you to budget and have your personal finances go a lot smoother. This also ties in with a large company’s volatility. This means in a sound well managed company; you will be ok in hard times. When economies begin to slow they have the success behind them and they know how to be very resilient where they can get through the hard times. If you can find a good company like this anyone would not mind taking an entry level position to get into a corporation like that. This also has a direct relationship to benefits. How to make money in a large corporation does have strings attached into benefits. That is a huge bonus to working toward your success in life. You are a member within a company you can receive the rewards of the employee group that you are with from programs like this. Benefits include are: stock option, retirement packages, full healthcare, vacation time, and sick time. Power is in numbers and with a large company you definitely have numbers on your side.
Those are the main pros that holding a position in, and making money in, a company situation have. We would recommend examining what is important to you and what you can deal with. After all you are the one that has to make the overall decision for yourself. We hope we have been helpful with some food for thought and we will be putting together the next part focused on the cons of how to make money in a company.