Like anything in business,the donut business is not a get rich quick scheme. Like everything else in life, it takes work and dedication. As those who manage their time and learn from their mistakes that will be successful. You've heard the old adage when you first learned to ride a bicycle, when you fall, you get up and try again until you learn how to do it correctly. This is what happens in business. Myself, I've had a lot of failures. I have made many many mistakes. I try to learn from my mistakes and I never give up. There is nothing better than the school of hard knocks.

There's a lot to do from the inception of your idea to the point when you are making money. Many of you are tired of your jobs, afraid of what is around the corner And overall just burnouts on everything. The best advice I can give you before you start to make the so-called easy money is try to get your debts paid off, the bad debt. This is something that will never go away and will hunt you the rest of your life. Did you knows that bill collectors can come after you Pretty much the rest of your life, as long as it has not been paid? The debt just gets sold over and over and over and over and over. It may have been erased from your credit score, and I'm not telling you to pay it, but it still can haunt you. Please do not go into debt, especially on frivolous things that you do not need. Using debt wisely, such as to finance a fledgling business, can be a wise thing if done correctly. It is not wise however, to use debt to finance things such as vacations, clothes, cars etc. Of course the donut businesses is not the only way to make the so-called easy money, There are more ideas than I can even put in this one blog post. Bottom line is keep your mind open and stay out of debt. That can be a good thing, but as I previously said, do not use it to finance things you do not need. Saved debt to finance business ideas where you have a solid business plan and a way to get out of the business of necessary.

As we mentioned last week, we are trying to get in a flea market where we can sell doughnuts. I think we might have mentioned before, that we are also interested in selling doughnuts at fairs and festivals. People at fairs and festivals are pretty much a captive audience. Eating tasty foods is almost a tradition at these places. Instead of leaving when they get hungry, they find places to eat there. When you are selling small doughnuts at fairs and festivals, you are also selling convenience.

When you are selling doughnuts at a fair or festival the rent is usually a lot less than if you had a storefront establishment. In addition you are only paying when people, a lot of people are there. When you rent a spot at the mall, you are paying when there might not be very many people at the mall. If you make your business portable, you can travel to a lot of the fairs and festivals all over the country. If you feel financially secure to do so and are not tied to your job this may be an an excellent opportunity for you. Traveling from Festival to Festival is not for everyone, But can be very rewarding monetarily.

It can be very difficult to get your foot in the door at fairs and festivals. There is often times a waiting list just to set up shop. Many times if you have something different such as a doughnut, you may have a better chance of getting your foot in the door. I always thought it would be a neat idea if they had some sort of bidding process for the food vendors, it would be interesting to see how it went. It may price some people out of the market.

You may have often thought about starting your own business and all of the perks that come along with it. You could take advantage of the tax to deductions, Be your own boss, and all of the other things that you always hear about working from home or having your own business. It is true, when you work for yourself you do not give Uncle Sam an interest-free loan while you earn money, you pay the tax man after you have already earned it and take out your deductions. The doughnut business could afford you a lot of deductions and peace of mind knowing that doughnuts will always be in demand and people love them. But you question the timing of starting your own business. You have reason to be afraid, change is always a hard thing to do.

You have all of these things going through your head, But how could you live with yourself if your family lost their home and their life savings because of your business venture. That would be a very difficult pill to swallow, especially if you have a family. You feel trapped and go to work daily Thinking about the way life could be. It is much easier to be told what to do and how to do it than venture out on your own and try to make something of a business. You have probably heard all the horror stories of opening up a food related business. One of the good things about having a donut business, especially a small donut business, is you are selling one product and the overhead can be quite low. We will talk more about that in a bit. Stay tuned tomorrow and we will continue our discussion about starting a good business end is poor economy.