How to Make Money in an Industry You Have No Experience in, in 8 Easy Steps

Among my circle of friends, I'm the one everyone seems to go to for advice. The few thing that I take the time to learn really well are the things that I'm most passionate about, and of course, one of those things is starting companies and trying my hand at new business ideas. Entrepreneurship and young entrepreneurs are especially popular right now, and it seems that everywhere I turn, I have someone asking me how to be one. Though I'm flattered that my friends think enough of me to seek my advice when it comes to entrepreneurship (and other things like "how can I get an afro like yours?" but I digress) it can be frustrating as an advice giver when you take the time to detail to someone how they can make their dreams happen, only for them to blow your suggestions off 5 minutes later with, "Oh I could never do that, I don't have enough time/experience/money/[insert excuse here]..." This post is for my friends and family in particular; I'm telling you today that you can be successful in any industry that interest you, even if you have no time, money or experience. Click below to find out how.



The example I'll use today is starting a web design company, though the advice applies to many other types of companies someone might like to start. "Whoa, whoa!" I can hear many of you say. "How am I supposed to start a graphic design company if I don't know the first thing about graphic design!?" Easy-peazy, my friends.

Just subcontract the work out.

Graphic design is always hot because nearly every industry either has products that relies on aesthetic appeal, or a service that needs to be presented a certain way via business cards, logos, and web site designs. All you have to do to get a piece of the action is squeeze yourself between the two ends of the graphic design industry spectrum; graphic designers and people who want to higher them.

1. Go on Craigslist or any other classifieds and search through all the listings where a graphic designer is needed.
2. Answer a few of the ads just to get an idea of the type of work they're asking for. Once you've got the job details, go to elance.com or a similar site and get in contact with designers from all over the world who are looking to find work.
3. Post a job on elance.com with the requirements you just got from steps 1 & 2 and wait for the hits to role in.
4. Pick someone with a low price, then go back to the craigslist guy (step 2) and quote him 25% higher price than the elance guy quoted you.
5. When he ask you to provide work sample or experience, give him the work sample/ experience from the elance guy and say he's a part of your "team". This is a perfectly acceptable and standard process when subcontracting. Everyone from Comcast to the U.S. Government engages in this practice when providing certain services to their clients.
6. Get some of the money upfront, then use it to pay for the elance guy to get started.
7. When the job is completed, collect the rest of the money, pay the elance guy the price he quoted you, then keep the extra 25% for yourself.
8. Shake, stir, and repeat until you're satisfied with your bank account balance.

This is such a straight-forward process, I'm not sure why more people don't engage in this when they're first starting out. The above steps can be applied to almost and job and industry, whether it be coding a website or fixing a running toilet. If you think I'm being too lofty, I have two female friends under age 25 who have built successful subcotracting-based businesses in less than two years. I will be sure to post interviews with them in the very near future. To learn more about contracting and subcontracting now, check out this websites:

http://www.answers.com/topic/subcontracting

Do you have any experience subcontracting? Is it something you'd ever try? Share your insight by commenting below.