I’ve spoken to hundreds of people who have asked about this business. Many already know it’s perfect for them before they call and when we speak on the phone I also know they are the perfect fit. However I have also told many people that I don’t think they would be right for it. When you join Mags to Riches I am going to be working with you very closely and I need people who are committed to the success of their business.
Here are the profiles of people who typically join Mags to Riches:
Parents: A very high percentage of the people who have taken this business on are Mums who need the flexibility of working round children. This was where I started from because although my children were at school, I still needed to cover after-school, school holidays, sick days, teacher training days etc. If you have school age or nursery age children, you will love running your own magazine. If however you have a number of pre-school children or babies at home, and don’t have any additional help (e.g. parents) during the week you will need to consider at least part-time childcare. Flexible it is, but 1 hour a day while baby has a nap is not enough.
Is this it?: We also have many men and women who don’t have children or childcare to worry about, but do want to escape the rat-race. Often redundancy forces this situation but many people are still employed and have that feeling when they reach 40 and think “Is this it? Is this what I’m doing until I retire?”. This again is perfect – the opportunity to replace your ‘corporate’ income – and them some – but to achieve a work/life balance. The ‘however’ on this one though is to be aware that the pays-the-mortgage-sized income doesn’t come in month 1. You need to budget for that first year where the regular income is building up.
Empty Nesters: Finally, the other people that we’ve often seen that do well at this business are ‘empty-nesters’. People who don’t have family commitments and but are too young to retire. Again, this group has found this works well because more than most they want the work/life balance but need and want an income to be able to make the most of their free time.
Don’t forget that if you build up a successful business, it has resale value such that any change in your circumstances means you have a guaranteed ‘redundancy’ payout.
Who shouldn’t do this?
I’ve already said about the family commitments, but apart from that you do have to be self-motivated. If you just know you need structure rather than flexibility, you’ll probably find it better to be employed rather than self-employed. It doesn’t mean you can’t make this business process-driven but it is you that’s in charge of everything. We guide you of course, but you are the one that needs to take the action.
If you are in your early twenties and want a great social life as part of your work, don’t look here! Our user forum is fun and I certainly never feel like I’m on my own, but we all live in different parts of the UK so getting together for a drink is an annual affair not a weekly one.
And – above all – you need to understand that to get this business started you will have to approach people on the phone and in shops to ask them to advertise. If you know you are crushingly shy and really unassertive, you’ve got a major hurdle to overcome before you even begin.
Is this the business for you. Are you getting excited about this opportunity? Get in touch with us.