ForumsEmployee Benefits and Retirement Planning

You may already have thought of this, but . . .

If you have the knowledge and resources to expand your business into another arena like insurance sales, why not become a business mentor for someone who is eager to start-up and run his or her own company? Just look at all the people (even in this community) who've gotten sucked into MLM rips-offs and the like. You could help someone like that set up and run his/her own firm by providing the initial funding (retaining a minority ownership interest in return for your investment) and by coaching the person toward success.

If that firm became an established, viable option for meeting your potential consulting client's needs, you'd have less of a conflict (you'd just be a shareholder in one of many insurance firms the client could choose -- you'd disclose that status to them, and so long as the client was not a government agency or contractor, everything would move forward normally). If the new enterprise tanked, you have some tax deductions.

I've done this twice and it IS time consuming in stages, but I don't think it would take any more total time than starting up, marketing, and operating a new "branch" of your own operation.

Just something to consider . . .