Getting the first post out of the way – I suppose I will start with some anecdotes and personal experiences that I’ve had thus far. My goal will to eventually start conducting interviews with local entrepreneurs and get other perspectives, but for now here is my own. I work as both a tutor and a vending route operator. You see those gumball and candy machines placed at restaurants, grocery store, bowling alleys, coin laundries, break rooms, etc…. I am the person behind that operation. Its a good time investment, as startup costs are low, income is nearly limitless and operating costs can be kept down with intelligent planning and logistics. It is a great source of income on a per-unit-time basis. The benefits that can be captured are also nonlinear – you can double or triple the income of a route with less than 50% increase in operational costs. I will share more about this as time goes on and will start documenting and collecting data – I am a statistician after all. Expect presentations over the summer.
I also do test prep as a part time job. It’s a very good hourly wage and I enjoy it – quite rewarding. I would recommend it – I started doing it on the basis of a quick tip from a friend. Turned out to be a great choice of part-time jobs, and is by far the best part time job for a college student. It is also a nice fall back if current job market conditions do not improve before I graduate (more on that later.)
I value flexibility of time and believe time management and the capturing of nonlinear benefits from proper time and money management. This will be a major theme of this blog. I believe small business, low start-up cost, vertically integrated, high tech micro-entrepreneurship will be the recovery leader if there is to be one to bring long-run growth back to roost. Social networking, specialized, low cost service firms and technologies such as cloud computing allow for more flexible business models with options to balance operational and fixed investment costs that help keep costs sometimes orders of magnitude lower if properly utilized. This limits risk and helps keep the entrepreneur afloat for longer. When hardships come, humans are an innovative and resilient species. There are always opportunities, and there are always bright minds able to discover and monetize these opportunities. I hope that Entrepreneurial Underground can be but one element of this innovation revolution that is necessary to jump-start the economy and give power back to the people.