2011 BACK to the FUTURE. Top 10 money making picks for coming year.

Gordon-

Thank you for your advice! I have a question: re: absentee services such as house cleaning - why do you think this will do well during hard economic times? I would have thought that this is the sort of thing people shy away from during hard times.

It is an intriguing idea - set up a service and then absentee manage.

Thanks,

Tim

Tim,

"Hard times". Even during the GREAT depression, there were people doing well, getting rich even.

Today, at 10% unemployment, doesn't that mean we have 90% employment? (Using their [gov'ts] stats?)

The upper income crowd boomed for the last decade, but also, small businesses look for ways to save money.

The easiest business to get into is a low cost cleaning business with superior service...hard to find because wages are traditionally lower. However, you can find hard working people who want to supplement their incomes and are willing to exchange a few hours a week for a guaranteed wage.

My friend went through 4 cleaning companies in 4 years at her business. She eventually would only sign quarterly contracts, that is how BAD the cleaning companies were. The ONE which had the busines for a decade, the guy died, was taken over by a slacker employee and ran into the ground in less than a year.

Even in HARD TIMES, windows need to be washed. Bathrooms need cleaned. Elderly people need help. The PARADE OF LIFE demands certain things no matter what the economic climate.

My opinion is, it is a great time to get into a service related business IF you can deliver superior service. And with the workforce being "larger" than ever, I'm confident I could find quality people (I'd look to boomers wanting to supplement their income) to perform the tasks much better than the "low pay" worker, of either poor work ethic background or of "out sourced" labor.

I feel I can find many older or mature Americans with a good work ethic who will trade a few hours a week for their good work habits.

I would find ways to incentivize, probably with QUARTERLY BONUSES, or other ways, to sweeten the pot for their labor.

The SECRET Tim, for me anyhow, is to NOT hire the "most likely candidates" for what is traditionally a "low wage" position...and a quick glance at the tats, piercings and poor hygiene of today's fast food worker has made me swear off most quick serve restaurants.

Go with Mature workers, deliver superior service, and you won't find any problems getting business.

Gordon