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5 Businesses You Could Start From Your Garage

5 Businesses You Could Start From Your Garage

Being an entrepreneur doesn’t mean you have to invent a huge product or do something incredible. Sometimes it is doing a small service out of your own house. If you have a decent size garage, here are a few great options to get started.

1. Bicycle repair

Repairing bicycles can actually be a surprisingly lucrative business. One of the best things about bicycle repair jobs is that they are not nearly as hard as they seem. Sure, bicycles are a little bit complicated at first, but there really isn’t a whole lot going on that you can’t learn on YouTube in a couple of weeks. Many bikers that take their hobby seriously spend thousands of dollars on their bike and their equipment. When that equipment has issues, they are willing to spend a significant amount to get everything up and running smoothly. This is a simple job that requires very little tools and very little know-how.

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2. Photographer

Not everyone has what it takes to be a photographer, but you will never know until you try. If you have an empty garage it is a perfect location for a photography studio. You would be surprised how many of those incredible pictures that you see online are taken in a small studio with the right background. You can set up a studio in the corner of your garage with a brick wall background in one corner and perhaps a mountain or something similar in the other corner. People can choose what background they want and no one will be the wiser. This takes a little more upfront money. It may also take a little time to learn. However, photographers make a significant amount of money per hour and have the ability to work from home and choose their customers.

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3. Welding

Welding is another job that sounds really complicated at first, but conceptually is not nearly as hard as it seems. This type of garage business may take a little more cash up front to get started, but there are a few good ways to get started welding with a little less money upfront. It also is much harder for people to get into, which means you are much less likely to have competition. A lot of places offer local welding classes, and you will only need a few classes to understand how to weld. Welding, in essence, is just connecting two pieces of metal. You could easily turn this into a full-time career. Many welders make over $50,000 a year.

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4. Barber

If you market your business correctly, you can make quite a bit as a barber. Most Barbers charge around $38 per haircut on average, and that is just a simple haircut. If they can do a few haircuts in an hour, they’re making $76 an hour or more. This is an incredibly cheap business to get started with, however it does require a little knowledge. You can take many classes both online and in-person to become a better barber. Many barbers will only take simple jobs because there is plenty of them available.

5. Flipping

The concept of flipping is pretty simple. Buy something online or in person, and then sell it for more. There are many different strategies for flipping. Some people will find good deals online and then post them in local marketplaces like Craigslist. Other people will simply buy on Craigslist, and then sell for a higher price on Craigslist. There are many other strategies as well. This takes just a little bit of money up front and can be started in just a few hours. Some people have managed to make this a full-time business.

There are many other businesses you could start from your garage as well! All it really takes is a good idea and an entrepreneurial spirit. Your first idea may not succeed, but that doesn’t mean you should stop trying. Failure is typically part of the road to success.

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Spencer Mecham

Personal Finance Coach, Digital Marketer

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Last Updated on October 28, 2020

The Crucial Letter Your SMART Goal Is Missing

The Crucial Letter Your SMART Goal Is Missing

SMART goals are a simple, logical way to organize your goals as you set them throughout life. Not only does this technique help you identify reachable goals, but it helps break down goals into smaller and more manageable pieces.

However, there is one crucial element (or letter) that is missing from this acronym. This missing letter can potentially make it harder for you to reach your goal – no matter how well you have broken down your goal into different pieces and action steps. However, once you understand this missing piece, you’ll be able to use it to move forward with your goals.

What Are Smart Goals?

If you are not familiar with the SMART goal setting technique and what the acronym means, here is a brief rundown with a simple example:

  • S = Specific — Your goal has to be specific enough (“I want to lose 4 inches off my waist”).
  • M = Measurable — You can measure your waistline every week to keep track of your progress.
  • A = Achievable — Do you think that you can do this? Or are you going too far by getting rid of yet another 4 inches? Or should you expand the goal to 5 inches; is that within reach?
  • R = Realistic — Is your lifestyle stable enough that you can commit to this goal?  Are you mentally prepared to do this? Do you have the resources you need for this goal?
  • T = Time-framed — You could want to achieve this goal within a week or within six months, but it should have a specific time frame.

As you can see, when you break down your goals like this, they become much more manageable and concrete than just saying “I want to to be slimmer.”

All fine and well, except that there is a crucial letter missing in this package – another letter “A.”

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The Missing Letter

The other letter “A” stands for accountability, and this is a great way to make sure that your defined plan is actually executed and is not left just on the talking or planning level. Even if you have crafted a masterful plan by using the SMART goal technique, it becomes useless if you don’t actually execute it. To make sure you start the execution phase, you want to throw some accountability into the mix.

By having some external pressure on your back (in the form of accountability), you are more likely to take action on your goal steps than if you just keep the plan to yourself. Accountability is based on the fact that you want to stand behind your words and save face. When you announce your goal to the world, you realize that the world is now watching you, and you don’t want to let the world down.

Accountability is also about facing the expectations of others. If you announce a goal or a task in public, other people are expecting you will achieve the tasks and goals you have laid out for yourself.

Watch this video and find out how by having dependable accountability, you can reach your goal more efficiently:

Ways to Implement the Letter “A” in Your Goal

There are plenty of ways you can go about creating accountability. Choose which one will work to motivate you the most.

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1. Keep It to Yourself

I was a bit hesitant to include this, since in this scenario you are not telling others about your plans or tasks. However, for some people this might work since your conscience is your accountability partner in this situation. And you don’t want to let your conscience down.

2. Announce It to Other People

Your people could be your colleagues at work, your local golf club buddies, the subscribers and readers of your blog, or your Twitter followers. I would say that accountability is more effective when dealing with “offline people.” Being accountable face-to-face to someone is very effective.

I’m in no way underestimating the power of “online people” either. If you are trying to form solid relationships with others online, you want to keep your word – even if you don’t necessarily meet the people in the same sense as in the offline world.

3. Find an Accountability Partner

A more intimate way of being accountable is to find an accountability partner. This could be a friend or spouse, but it needs to be someone you feel comfortable reporting to. When this route is chosen, you might decide to call your partner on a frequent basis to tell them how well you are progressing on the goal.

4. Get on Stickk.com

If none of the above ways work for you, it’s time to put Stickk into play.

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Stickk.com is a website where you can announce your goal (“Commitment Contract”), and to make you even more committed to reaching that goal, there is money at stake. Money is not mandatory to get set up with Stickk, but knowing that you will lose a certain amount of money if you don’t reach your goal can give you an extra push to get stuff done.

5. Join Mastermind Groups

A mastermind group is a group of like-minded people gathering on a frequent basis (online or offline), trying to push each other closer to their goals. This type of accountability is very common in the business world. When you are in a mastermind group and you have set the objectives you want to achieve by the next meeting, you want to get stuff done and fulfill other’s expectations.

Mastermind groups are a great way to improve your productivity and reach your goals with the help of others.

6. Hire a Coach

If you really want to get personal attention for your goals, then hiring a personal coach may be the best way to stay accountable.

Not only are you accountable to your coach, but you also have to pay for his/her attention. This makes the coach option even more effective. You want to make sure you do everything you can to get the assignments done before the deadline you two have set. So, there is a money factor to keep you accountable as well. Since you want to quickly move forward, this option is a very effective for staying accountable with your SMART goals.

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The Bottom Line

Next time, set your goal using “SMARTA,” instead. Add that letter “A” to the SMART goal setting technique:

Specific, Measurable, Achievable, Realistic, Time-framed, Accountable.

The accountability factor of reaching your goals may be just the thing you need to make them a reality.

More Tips on SMART Goals

Featured photo credit: Estée Janssens via unsplash.com

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