Money Making Ideas for Home Business Owners
How to Make Some Extra Money Fast When Business Is Slow
Sep 4, 2008
When a small business is already barely making ends meet, one bad month can spell disaster. A partner who develops a serious illness, a sudden recession, or a seasonal slow down can really affect a struggling business. Suddenly, the business owner needs a few hundred dollars to meet payroll obligations or to pay rent on the building she is leasing. However, the credit cards are already maxed out and family members can't float the business a loan because of problems of their own. What can a small business owner do to get money fast to meet those financial obligations? There are actually several great options for making a little extra cash quickly.
Use Craigslist's Classifieds to Generate Fast CashPerhaps the company has an overstock of gizmos or maybe the business owner has some expensive unused exercise equipment in the basement. Either way, Craigslist provides a quick and easy way to let local people know that something is for sale. To get the most bang for a buck using Craigslist:
- Price items to sell. People rarely expect to pay the sticker price on an item. However, since they can pick up the item locally and aren't paying for shipping, they do tend to be willing to pay a bit more for heavy items than they would if they were bidding on the items through an auction site.
- Be willing to negotiate. Many people that buy items using Craigslist enjoy bargaining for their purchases.
- Ask for cash. A bounced check doesn't do anything to alleviate cash flow problems.
Search Craigslist's Gigs for Quick JobsCraigslist lists full time jobs, part time jobs and gigs for each state. A gig can be something as quick as setting up someone's computer or helping someone move or it can be something that takes several days, such as house sitting. Gigs don't usually pay a lot, but picking up a few gigs each month can make up a shortage of a few hundred dollars.
Hold a Garage Sale
For someone who has a lot of extra things to get rid of, a garage sale may be a better alternative than listing items one by one on Craigslist. The key to a successful garage sale is to be well organized. Display items neatly and be sure they are all clearly marked with a price.
Of course, even the most well organized sale won't be successful if no one can find it. A few days before the sale, advertise it on Craigslist, online yard sale listing sites and the local newspaper's online listings. Also, make and display signage about the sale at major intersections. Don't forget to place a big sign in the yard on the day of the sale.
While all of these options are a great way to make money fast, they should only be used as an emergency stopgap measure. When the small business owner begins to find himself bailing out the company every month by doing a few gigs or selling a few items on Craigslist, it is time to stop looking for quick fixes and reevaluate the company's viability. If the business owner can't find a solution to increase profits, she may need to look into painful alternatives, such as selling the business, before the financial situation worsens.
