Thinking of going into business for yourself? "A variety of businesses will fare well through the '90s due to long-term demographic trends," says the Business Opportunities Monthly section of National Business Employment Weekly (Nov. 8-14), on newsstands this week.
Under "10 Hot Businesses to Launch in the 1990s," the article lists: (1) Career counseling ("people are changing careers like never before."), (2) Computer and office machine repair, (3) Day care ("this can be started inexpensively at home."), (4) Educational services and products, (5) Financial planning ("there's a bulging market of 78 million baby boomers, many of whom haven't given a second thought to retirement planning."), (6) Home health care ("outpatient health care is the fastest-growing small-business area.")
The story also lists: (7) Marketing and promotional services ("in past recessions, these were first to be cut, but in the '90s competition requires greater marketing and sales efforts."), (8) Printing, copying and mailing services; (9) Senior fitness and recreation ("by 2,000, people age 65 and older will have increased 17 percent to 35 million.") and (10) Environmental protection ("just look around to see the many opportunities for helping to clean up the environment.")
HOPEFULLY HELPFUL: "If cigarette prices rise 5 percent each year, a 12-year-old who puts the cash he or she could spend on a lifetime pack-a-day habit into an 8 percent investment, that person would save $100,000 by age 39 and $4.1 million by age 65." (Leadership) . . . "Get ready for recession's end by revising your resume to show how you continuously improved quality, cut costs and built teams." (Kennedy Career Strategist) . . . "Information trap: stop gathering information when you have enough material to move ahead with your project. Too much research saps both time and energy." (199 Time-Waster Situations by William Bond, $9.95) . . . "To get along, go along." (Sam Rayburn).
NEW LOOK: "1992 Career Guide: Best Jobs for the Future," a 40-page cover story in U.S. News & World Report, dated today, is worth studying. Excerpts: "Those who will now be successful won't be management generalists; rather, they will be professionals with specific skills. . . . They must be prepared to move backward and sideways from large firms to small ones, from city to city. . . . Those with portable skills may find opportunity even in struggling industries. . . . Flexibility can mean the difference between working and joining unemployment lines."
AUTUMN LEAVES: Regarding the above, here are some careers listed under 1992 "Hot Tracks": Forensic accounting, computer systems analysts, electronic engineering, loan experts, food service to elderly, health care, environmental insurance, sales, telecommunications. . . . A Baltimore taxicab driver told me his business is off 40 percent from last year, tips almost non-existent. . . . Barron's, dated today ($2.50), runs its quarterly mutual fund issue, with data on 2,700 funds. . . . BG&E will be spotlighted at Security Analysts meeting, with speaker CEO George McGowan, Tuesday, Nov. 19, noon, Tremont. . . . "If you want to move forward in your company, make a presentation to top management." (Horse Sense by Jack Trout, $19.95). . . . "If you give some people a free hand, they'll put it in your pocket." (Bits & Pieces).