Creating Your Business Opportunity 9
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Can you run an industrial business from home?
Yes you can, if zoning laws don't prevent you from working at home and if you can comply with any EPA regulations that might apply to your business. Chemical distributorships, gold-plating operations, and even machine shops have been run or started in garages and basements of people all over the country. You could also start an industrial consulting practice if you have experience. You would need to be a registered professional engineer and be fairly well known in industrial circles. "Advertising for this business just doesn't work" says industrial engineer Lew Merrick, owner of Tangent Engineering in Lynnwood, Washington. "People don't look in the Yellow Pages for an engineer—they call up a couple of friends and ask for recommendations."
I speak Spanish and French fluently. Could I get work as a translator?
Possibly, but you should know it takes more than the ability to speak a foreign language fluently to make money as a translator.
What kind of qualifications would I need?
Gabe Bokor, owner of Accurapid Translation Services, Inc., in Poughkeepsie, New York, says, "Some technical background and experience in specific technical fields is as important as perfect writing skills. A very good understanding of both the source and the target language is necessary, too, so that idioms and ideas are translated without losing their original meanings." You will also need some computer skills and access to a computer, modem, fax, and appropriate dictionaries.
Where would I find translating work?
Translators get work either directly from client companies or through agencies or bureaus.
Where can I find names of trade publications and trade associations?
One source is Ulrich International Periodicals Directory ( http://www.ulrichsweb.com/), which publishes lists of periodicals in book format. It also has a searchable online directory at http://www.publist.com . The reference librarian at your public library will be able to point out directories of newsletters or other directories of trade associations or publications that can give you the information you want. While at the public library, you may want to dig up your field's industry statistics by reading back magazine or newspaper articles. The newspaper and magazine indices (available at most libraries) will help you locate these articles. Many libraries now have the newspaper and magazine indices on computer, making it fast and easy to search out articles, and some now have articles on CD-ROM disks rather than on microfilm. The library staff can help you learn how to use these tools if you are unfamiliar with them.
How do I find my niche?
The secret is to start with what you know or with what you like. Learn everything you can about whatever that "thing" is. You can learn on the job or in your spare time, but learn all there is to know about the product, the service, the market, and the business end. Then, before you start your business, plan it all out in advance. Realize you will have to work hard and be committed to making the business successful and that in almost all cases it will take anywhere from 1 to 5 years or even more to build a successful business. Take a close look at any overnight success and you will discover that many years of training and hard work went into positioning the business or the individual to be in the right place with the right product or service at the right time.
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