O'Reilly logo

201 GREAT IDEAS for Your SMALL BUSINESS, Third Edition by Jane Applegate

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

GREAT 40 IDEA: Invest in Yourself by Tapping Your 401(k)

After losing his engineering job at Whirlpool in 2009, Mike Tilley decided it was time to work for himself. He researched a variety of franchises before he and his wife, Cathy, bought an existing Mr. Handyman franchise in Kalamazoo, Michigan, by cashing in his 401(k) retirement fund.

Tilley used the money to pay the $60,000 franchise fee and invested another $158,000 to buy equipment and to cover other business expenses.

“You really need to believe in yourself to do this,” said Tilley. He was lucky. His franchise was breaking even by the third month and was on the road to profitability by the end of the first year.

Tilley is one of thousands of former corporate executives taking advantage ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required