Wisdom of Rich Dad

I funded my start-up company without having to get loans. Depending on what your product or service is, it may take a little longer to grow a business this way, but I found it was worth the effort because in the end I was loan-free. Not having loans to pay back significantly cut my debt, and helped me build a successful company..

Job Security and Business Plan I decided after working for many florists and retailers that I wanted to start my own gift and floral business. The most important thing I did was to keep my current job for as long as possible for security, and to help fund my start-up company. I put aside as much of my paycheck as possible toward my business venture. The benefits of keeping your job through this adventure is financial security.

The negative of having a full time job is having less time for your start-up business. Once I registered my company’s name, I made a business plan with a list of products I wanted to sell. I then researched suppliers to find out how much each item would cost me to produce. This gave me idea how much capital I would need to make my first line of gifts for my start-up company.

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If you’re among the 14.8 million Americans who are still unemployed, however, 2011 continues to look bleak, but not hopeless. Though little new hiring is planned for the first half, openings should expand later in the year — as long as the economy encounters no major hiccups.

Wildcards: A double-dip recession would put the brakes on any gains, says California State University Channel Islands economist Sung Won Sohn. Mass layoffs won’t necessarily return, but raises and bonuses could suffer.

If Congress passes a new stimulus for small businesses — most likely by making it easier for firms to borrow — hiring could exceed forecasts.

What to Watch: Track the monthly jobs report from the Bureau of Labor Statistics at bls.gov. The forecasted pickup of 153,000 jobs a month on average (fewer than 150,000 early in 2011, as many as 175,000 late in the year) should bring the unemployment rate down to 9.2% by the end of 2011.

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