Having
visited the offices of the Color Association of the United States and looked
through their year-by-year record dating from 1915 of the most popular
colors selected in each season by auto, clothing and paint manufacturers, we
found a surprising correlation between colors and the economic times they're
associated with. Dark colors seem to have accompanied recessions, drab
colors dominated the war years, and bright colors found a market during
affluent times.
Thus
the bright colors of clothing we've been seeing in stores and advertising
recently could be a harbinger of upbeat economic times and maybe a good
indication that now's a the time to start that business you've been dreaming
of. But what's the best business to start? To help you evaluate your
choices, we suggest using two primary criteria: (1) What type of business
appeals to you sufficiently enough to motivate you to do the marketing and
the work involved? and (2) What type of product and service can you provide
that people will willingly pay for?
While
you're the best judge of what most appeals to you, here are five businesses
that are promising to draw customers in 2005:
1.
Alternative energy installation. The rising price of fossil fuels—oil,
natural gas, heating oil and propane—is creating a demand from
environmentally conscious individuals to "get off the grid." Solar
panels and wind may come to mind first, but geothermal energy as a source of
home heating and cooling is becoming increasing popular, too. In addition to
consumers, commercial customers, such as resorts and hotels, need back-up
power sources. Some real estate developers are using alternative energy for
entire projects
2.
Online auctions. Commerce on the web continues to grow, and while eBay
is the largest auction site today, Amazon and Yahoo.com are among the others
that offer platforms to sell what you make, collect or buy. Hundreds of
thousands of people now make all or part of their livelihoods from eBay
alone.
3.
Daily money management. Daily money managers primarily serve two types
of clients:
-
Individuals
and couples whose career demands are such that they don't have time to
tend to all of life's daily chores and need help making sure certain
bills are paid on time, checking accounts are in balance, bank deposits
are made, charge account and credit card statements reconciled, and
records organized for tax purposes.
-
Older
adults who are physically capable of living independently but need help
with the routine tasks of household finance.
4.
Tutoring. For the past several years, tutoring has been growing in
importance, right along with the increased competition to get into the right
schools and excel in class. And the pressure's going to increase: This
spring, essay writing will be added to the Scholastic Aptitude Test, and
it's the opinion of many experts that most students are unprepared. And
they're probably right: A recent national test found only one out of four
12th grade students could write an acceptable essay. So while there are many
subjects you could tutor in, writing will be in keen demand.
5.
Virtual assistance. Many self-employed people realize that delegating is
good business practice. But they also recognize this doesn't have to mean
hiring someone to physically work in their home or office. They can get the
help they need from a virtual assistant who works in either their home or
some other location, whether it's half a mile or half a continent away.
Virtual assistants frequently help new companies get started or assist with
the daily activities of a business whose owner travels frequently or simply
needs additional help.
Paul
and Sarah Edwards are homebased business experts and consult and coach on
the subjects of the 16 books they've written. Their latest book is The
Best Home Businesses for People 50+. Free portions of their books are
available at www.workingfromhome.com.
