Not only is Airbnb a great way to make money by renting out your spare bedroom or living room couch as a legitimate home-based business idea, but you also have the benefit of meeting new people and making new friends if that's your kind of thing. You can even rent out an entirely new apartment just to manage as an Airbnb side business idea, but don't make the mistake of thinking this will be a passive source of income—you're on call whenever you have a guest and you'll always need to keep the place clean for incoming visitors. On top of just renting on Airbnb, you can take this business idea to the next level by offering your guests add-on and personalized experiences for an extra charge. Take Lauren Gheysens' Airbnb-based side business idea, Royal Day Out in London, England for example—where she gives visiting tourists a local's only tour of the city, complete with bespoke 18th century costumes.
Another starting point is to have an idea that very few people other than the founders can actually build. These technical feats provide a natural defense against competition. Remember, every hard problem you solve drops a massive obstacle in front of anyone who’d want to replicate you. Certain problems haven’t been solved because none of the few people smart enough to do so have made it happen. Look at something like Google, which co-founders Larry Page and Sergey Brin were technically capable of building at a time when not many people were. Back then, there were very few people smart enough to build their own search engine let alone imbue it with software that could crawl and rank the entire World Wide Web.
If you have employees who work remotely, know that your official company address matters for tax purposes. For example, small business expert Gene Marks has a home-based business with 10 employees who all work remotely. He uses a post office box as the official address of the business, so employees get reimbursed for the miles they drive beyond the official address to get to a meeting.
The whole “building an audience” is challenging for me. I’m not much of a blog subscriber myself, and so I’m really not quite sure what makes a blog tasty enough for someone to subscribe to. I solve more of a technical business problem… one of those things that if you need it, you REALLY need it now. And if you don’t need it, then you’re not really interested in getting weekly updates talking about it (I would imagine).
4) Financial independence – When you learn how to generate profits online, you’re teaching yourself how to become financially independent. As you start selling products online successfully you can scale up your business. By repeating this process, you have the potential to create multiple streams of income. With an internet business, your income isn’t dependent on the number of hours you work. “To be successful online, you have to be nimble and evolve where the opportunities are. You have to layer revenue streams,” says Angelo Sotiro, CEO and founder of DeviantART.
If you're a person who loves leaving customer reviews on sites like Amazon, stop doing it for free. Word-of-mouth advertising is still a huge lead generator for many companies, and a lot of businesses are willing to share a portion of their profits with persuasive individuals who will promote their products to the public. If you have a personal website with a large following, this might be easier to accomplish (PR reps are always seeking out brand advocates they can send free samples to). Smart Passive Income breaks down three types of affiliate marketing and explains which one is most profitable.
Boats that are hauled out of the water for the winter or even just for mid-season repairs will need the hull cleaned. And depending on the type of boat, it is a good time to give a major cleaning everything else too--the decks, the sleeping quarters, the head, and the holds. Start by approaching homes that have a boat sitting in the yard. Or you could market your services to the marina to contract you to do the boat cleaning it offers to customers.
2) Flexibility – Working out of your home provides much greater flexibility and control than starting a conventional business. With an internet business, you can choose when you want to work and where you want to work. You’re not confined to a single location; you can be on beach or in a plane and still be able to work. “In a way, the Web is like your Hollywood agent: It speaks for you whenever you’re not around to comment,” says Chris Brogan, CEO of Owner Media Group, Inc.
YouTube is the third largest site in the world, so there’s no surprise that video is becoming one of the main communication mediums for businesses of all types and sizes. If you have video filming or editing knowledge, it won’t take you long to build your clientele. Everything from video production workshops and video editing services to soundtrack libraries and DIY tutorials can appeal to the business world. Producing video might be one of the most attractive online business ideas with lots of creativity and challenges.
There are many advantages to starting a home-based business, including lower overhead and the ability to ramp up slowly. And it’s important to point out that starting off at home doesn’t limit your growth potential. In fact, the long list of large corporations that started as home businesses includes: Amazon, Disney, Google, Hewlett Packard, Ford Motor Company, and Mary Kay Cosmetics.
The price for web design ranges from free to $2500.There are too many companies that offer web design so do your homework and ask for references. Several hosting packages come with free templates for you to design your website yourself. If you need someone to help, Fiverr.com has people with pretty good skills that will create simple websites starting at $5 and will give you excellent deals for more complicated designs. You can find logo creations, SEO services, and advertising services starting at just $5.
A thing that needs to be ironed out for your online business is your billing service. While there are businesses that may bill their clients directly after a contract has been agreed upon and signed and these bills are paid for through checks that are deposited into the service provider's bank account, there are some clients who require a certain online billing system for them to pay for the services they have contracted. You may need to register with a billing system like PayPal for your online business to make billing and payment easier and less of a hassle to you and your clients.
I have almost 80 email subscribers, between 350-600 unique visitors per day, and I have talked myself into believing that my site is so new that it would be ridiculous to offer anything but affiliated links…that I need to build a reputation and trust first. These folks don’t know who I am yet. They don’t know that I’m not trying to bamboozle them, yet help them along in the journey, so why would they buy from me?!
Alex Ikonn and his wife Mimi launched Luxyhair.com after they realized how hard it was to find great hair extensions in the marketplace. This hair extensions ecommerce retailer has built their business on the fan audience they’ve attracted through YouTube tutorial videos. They have a serious following, which is exactly what has enabled them to grow their business to seven figures since 2010!