The Rise of Personal Business: Wizard Industries says you don’t need Magic to Succeed

The Rise of Personal Business: Wizard Industries says you don't need Magic to Succeed

Wizard Industries discusses new study on new breed of entrepreneurs

Over the next decade, there will be a rise of personal business and a shift away from traditional business, fueled by loosened ties to corporate America, the use of the Internet and demand for a work-life balance, according to 2007 Intuit – IFTF Future of Small Business Report.

The report says that personal businesses are generally one or-two-person shows that are typically home-based. Though typically not a part of the small business sector, due to its growth, personal businesses has evolved to be included in the small business industry.

Wizard Industries, a manufacturing and marketing company for innovative products designed by amateur inventors, not only works almost exclusively with the personal business sector, but is a personal business itself. Formed by Billy and Julie Carmen in 1999, Wizard Industries works with new inventors to get their products patented, manufactured, distributed and marketed – all from the Carmen's home.

"We've seen first-hand how personal businesses have continued to develop and expand as a lucrative and attractive opportunity. What started for us as a leisure pursuit has turned into a successful business and career," Billy Carmen said. "On the flipside, we're helping our clients with the exact same thing."

The Small Business Report states two factors that are contributing to the development of personal businesses are the demand for flexibility and accidental entrepreneurs.

Flexibility: Creating a work-life balance has been a driving factor in the employment shift. Both men and women are looking to contribute financially without having a structured career. With the Internet, people are able to run a successful business from their living rooms while meeting the needs of their family.
Accidental Entrepreneurs: One type of accidental entrepreneur – individuals that have no intention of forming a business when they begin – is the hobbyist. The key incentive driving the hobbyist is the joy of producing the product; only when they meet demands for the product or service do they realize they've entered the personal business sector.

Both are elements that the Carmens face personally and with their client base. "Most of our clients are like us: entrepreneurs that want to disassociate themselves from traditional employment or have stumbled upon this personal business path by accident," Julie Carmen said.

Being consummate inventors, the Carmens began the new businesses by inventing unique products to fill several niche markets. They created unique items such as woodworking metal detectors, bifocal safety glasses, seismic fasteners for earthquake safety, specialty detection metal devices for restaurants, the medical and law enforcement fields, along with an entire patented product exposure, PR, marketing and sales system built on Internet technology. The goal of creating all of the products and the PR and marketing technology came from wanting a business that could be run from home.

The Intuit – IFTF Future of Small Business Report is a research project designed to identify, analyze and forecast the significant trends and forces impacting small business over the next decade. The next is due to be published in 2017.

For more information on Wizard Industries, please contact Billy Carmen at (866) 781-8033.