Starting A Business With Pocket Change

change jar

I started saving my pocket change in October of ’06. More precisely, I saved change and one dollar bills from my personal allowance. It began as a challenge more than anything else: I simply wanted to see if I could do it. To my surprise I was able to consistently save 25% of my allowance every month, or about $100. After six months it’s become an easy habit, something I don’t even think about except once a month when I count up the loot. Last night, my total was $111.50.

The money originally had no purpose. I bought some Christmas gifts and a few treats for myself, but the bulk of it sat there waiting for me to decide how to use it.

At the beginning of this year, the cl


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13 Responses to Starting A Business With Pocket Change

  1. Henry @ Binary Dollar says:

    I like online businesses because the startup costs are relatively low. What I struggle with is coming up with a plan and executing it. I can come up with plans. I can take actions. But not both at the same time.

  2. Tina Parcell says:

    You’re right, Henry, the start-up costs for online businesses are usually pretty low. Interestingly, this is also the case for the exact opposite type of business: one that is extremely focused on a small local market and clients or customers you already know. In both cases, you really can get started for next to nothing and still look like a very reputible organization.

    From what I’ve seen with business start-ups (and I am including myself in this!) so many people come up with what seems like an amazing idea and jump in feet first without taking the time to research, plan, or gather feedback from others.

    Without a good plan, your actions will be disconnected and not be reaching towards a specific goal. Without actions, even the most well thoughtout plan will do nothing but flounder. The key is to find a balance of both planning and action.

    That’s what I like about the idea of saving change in order to start a business: you force yourself to take some time in the beginning while you’re saving up some money. This time is what you need to research your idea, your market, and most importantly to create an action plan of exactly what steps to wake when you get started.

  3. Henry @ Binary Dollar says:

    Can you recommend any books for finance matters in regards to small business? I’m terrible at accounting and I’m not sure of the tax implications of starting a company.

  4. Tina Parcell says:


    Part three in this series will talk about some software and electronic resources that will be helpful to a new business, and that will include some items specifically geared towards helping you keep track of income and expenses.

    As for a specific book, I would recommend taking a look at your local library’s financial or small business section. Spend an afternoon reading through a variety of books to get a good start on the process, and you can always buy the books you find most helpful in a bookstore later on.

    Good Luck!

  5. Henry @ Binary Dollar says:

    Thanks Tina! Looking forward to part 3!

  6. Majic says:

    I think a $100 dollar online business competition would be great for addressing the kind of things that Henry has problems with. A friendly competition that gives you an added motivation, and a little extra publicity from people on the web to get you started.
    Almost everyone has $100 to spare – people could even take part in teams if they were short.

  7. Tina Parcell says:

    Majic, I think that is a really cool idea! I’m not quite sure how the logistics of it would work, but I can imagine it offering several different areas for members/participants to discuss their experiences, makes suggestions to each other, and maybe even find new clients and/or business partners.

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  11. Tina Parcell says:


    I don’t know if you’re still subscribed to comments for this artcile, but if you are I wanted to let you know that Part 3 of the series was just posted.

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  13. Henry @ Binary Dollar says:

    I am very much subscribed still. Thanks Tina!

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