By Milana Leshinsky
Reprinted: 2003-10-25

It is important to your peace of mind to have a supplemental income while you're working on starting up your own business. Before you make any decisions, create an inventory of your skills and knowledge. This will be important when you start looking for ways to earn extra cash.

Once you have a list in front of you, go through the suggestions below for ideas. Here are just a few of the things you can do to supplement your income until your business becomes profitable:

1. Get a part-time job where you can use your existing skills.

2. Find out if you can switch to part-time in the company you're currently working for. This way you can have more time to work on your business, and still have a job that you already know how to do.

3. Remember to use all your vacation days at work before you decide to quit - this will give you more time to prepare for your new business.

4. Contact your local schools, colleges, and community centers to find out if you can teach a class in your area of expertise.

5. Place a classified ad in a local newspaper offering your services - resumes & cover letters preparation, college papers typing, tutoring, or any other service you think you're good at.

6. If you enjoy crafts or have some special skills, offer a class for children or adults - e.g., cooking, making photo frames, sewing, foreign language, music, etc.

7. How about some babysitting? If you enjoy children, put an ad in the paper for childcare services in your home. With younger kids who take naps, you can even work while they're asleep.

Look through your local newspaper to get more ideas for the work you can do while growing your business. Be careful NOT to get into thinking of this as "looking for a new career". Simply think of it as a temporary job until you grow your business income to where it can completely sustain you and your family.

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