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.
Mild spoiler alert: Viewers of the TV drama Orange Is the New Black might remember that the show’s main character made amends with one of her fellow prison inmates by making her a soothing lotion. Hopefully you won’t find yourself in prison, but if you find yourself wanting to start a home-based business, consider hand-making soaps and lotions yourself.
Many courses exist (many of which, logically, are offered online) where you can learn the language of website creation and can learn about the details, like how to set up shopping cart systems, security concerns, etc. You will, of course, need to learn about each company you design for. What is the atmosphere of the company that you need to reflect in the website design--is it wild and contemporary, meaning brilliant colors and fun graphics? Or will more classic colors like black, navy blue and maroon be more appropriate?
Employed techies planning to earn some extra side income can leverage their software and hardware skills by offering home-based computer repair services as a business idea that engages their passion. If this rings a bell, you can start with a modest one-man tech team before envisioning a scaled-up operation as massive as Geek Squad. Remember, you can provide home service locally as a starting point to this business idea, as well as offer remote support through online messaging and video calling services before making your way into a retail setting.
If you've developed valuable skill sets or certifications within your industry over the years, consider putting your skills to use in your free time by offering your consulting services to local business owners as a potentially lucrative side business idea. Whether you're an expert marketer, business strategist, or manufacturing aficionado, there's likely a local business owner who's willing to pay you to help them solve an issue with their company—if you can craft an effective cold email that convinces them to hire you. Start with this 18-step checklist to becoming a local business consultant as a side business idea, from Karyn Greenstreet. When you're ready to get serious about becoming a consultant, check out all of my picks for the best online business courses to keep building your skills and learning how to land your first consulting clients. Personally, I think this is one of the best business ideas you can get started with today.
Bartering or work trade arrangements are options to obtain items or services you cannot afford. You can join a barter exchange, or make your own arrangements with other entrepreneurs. It is best to have a contract between both bartering parties. Keep accurate records, because the IRS considers bartering of business goods or services as taxable sales or income.
Web designers are incredibly valuable for technology companies—which is why becoming a freelance web designer is a top side business idea today. Web design is all about mastering the art of creating a beautiful, value-driven experience for the people using a website or app. There are always new websites popping up in need of professional web design, and foundational books like HTML & CSS: Design and Build Websites by acclaimed web designer Jon Duckett and Don't Make Me Think by user experience legend Steve Krug will get you started down the right path to quickly determining whether or not becoming a web designer is a viable side business idea for you.
The prospect of working from home has gained credibility over the years. Home offices can now compete with small commercial businesses and save on rent in the process. It may also be possible to tax deduct some of your home expenses while running a home based business. Faxes, high speed internet connections, dedicated home telephone lines, and cell phones help to make a home-based business a reality. Earlier home businesses had been where families lived on the second floor of their house while converting the first floor into a store, where upon close of business they would secure the first floor and retire to the upper floors. This type of home business is still done in some rural areas. Many home businesses are started off in a much smaller capacity whilst the owner is still employed elsewhere, and then expanded once they are proven to be profitable.
To do what you love, you first have to know what kind of work you really want to do. This requires intense introspection and an understanding of which kinds of work get your creative juices flowing and which kinds dry them up. Doing what you love also sometimes requires that you ignore what other people want you to do for a living. You may decide, for example, that you’d really like to start a recording studio in your home, but your spouse or best friend may think something more practical, such as buying into a fast-food franchise, makes more sense. Ultimately, you must decide what you’re going to do for a living — even if it means you can’t work at home.
Get ecommerce software. You'll need this so your customers can view your products, enter their information and make a secure purchase. The software safely stores customer information. Don't skimp in this area, since the ecommerce software you choose will make a big difference in how easy it is for customers to feel secure buying something from your store.
Use Outlook or some sort of contact management software to serve as a visual reminder of what you need to accomplish that day. Live and die by your to-do-list. Try to have everything crossed off by the end of the day. Even my own children know that if they want me to do something for them during working hours, they have to put it on my to-do-list or it will never get done.
45. Smartphones: Just because your business is based from home, doesn’t mean you need to be stuck at home. A smartphone can help you run your business from anywhere. “Smartphones can create flexibility and accessibility while attending to the children’s needs,” says Monica Harris Mondolovich, who has been running a home-based business, MHM Editorial Services, for 10 years while raising two young children.
Minimize the cost of overhead. “The number one thing that will kill any business is overhead,” Wolfe says, noting that high overhead costs often pile stress onto new business owners. It can be costly to rent commercial office space and set up a phone system, internet, and other services in the space. In contrast, with a home-based business, you make use of space for which you were already paying rent or a mortgage, and you can piggyback off some services that are already in your household budget, such as home internet, he says.
I mean come on, who wouldn't be interested in this side business idea? Getting paid to take care of a cute pup sounds like a dream. The prevalence of unattended pets is another side effect of busy life, creating job business ideas and opportunities for people with time, patience, and affection to spare. Just check out DogVacay and Rover to see what I mean. Would the payout be worth it if you try? One person in New York earns $3,300 a month just pet-sitting for busy animal lovers as his side business idea.
Over the last decade, high-speed internet, a proliferation of devices and applications, and changing attitudes about the nature of work have made working at home a reality for millions of people around the world. One study, in fact, concluded that nearly half of all American employees work at home. And the trend isn’t limited to the United States; 79 percent of knowledge workers globally now do at least some work outside the office.
Word of mouth and referrals are crucial to getting new clients. Satisfied customers “spread the good word” and are the secure foundation on which to build your business. Treat all customers with respect and demonstrate that you care by delivering top quality offerings and optimum customers service. Thank loyal customers with cards, exclusive specials, and other expressions of your appreciation. Remember it takes less effort and money to satisfy existing customers than it does to get new ones.
People respect those who know more than they do. By specializing, you assume the role of a presumed expert, even if you’ve just started your business. It makes good business sense for your clients to hire an expert instead of someone less experienced. By avoiding the mistakes and dead ends that someone with less experience may make, your clients could end up spending less money by hiring you — even if your hourly rates are higher.
Organize your family time. Once your professional life is organized, you may need to consider organizing your personal life. Maybe you noticed right away, or maybe it's just becoming apparent, that you tend to work around the schedule of your family members. This is especially true if you have children. A lot of people, especially young moms, decide that they're going to quit their jobs in corporate America and work from home in order to care for their children and save on daycare expenses. But in reality, if you're serious about running a homebased business and earning a decent income, you're going to have to make arrangements for childcare in or outside the home. Otherwise it becomes too distracting. Consider hiring a babysitter so you're guaranteed five to six solid hours to get your work done.
Instead, you’ll be following a proven strategy for maximizing views of multiple videos on a regular basis. You’ll be creating useful content…something engaging that people want to watch. And it works in many, many different niches. It could be a how-to video, a talking-head video on a topic of interest to people interested in your niche...the sky is the limit.
The German Economist Schumpeter once said that there are “no original ideas”, only new combinations of old ones. Curation of curiosity-fueling content is an intriguing and little-known business model. One of the best success stories out there is Brainpickings – a platform that describes itself as “an inventory of cross-disciplinary interestingness, spanning art, science, design, history, philosophy, and more”. The subscription-based model and successful utilisation of affiliate links have turned the blog into a self-sustaining business.
Once you know what you options are and how much money you need, the next step should be analyzing the market. Who are your buyers? What type fish is most profitable? How much can you supply? Have you contacted anyone for your special needs or in case an emergency arises? Have you considered all expenses associated with your business? You need to think it through.
There are many directions you can take this business. If you want to work during hours when no one else does, you can focus on office clients. You can focus on retail businesses and keep your customers clumped into one or two blocks. Restaurants are in great need of daily thorough cleaning and can be a great source of steady clients. Perhaps you would be more interested in house cleaning. Many times with cleaning services you don't have to spend lots of money on advertising or marketing because your customers will come by word of mouth.
Thanks for sharing these top 10 mistakes. Sometimes I think these “top failures/mistakes” posts are even more helpful than the usual “top 10 best advices” type of posts, since they give people concrete ideas about what they should avoid. For me, the biggest setback was and still is number 7, wasting too much time thinking and not enough doing. One of my favorite quotes regarding this is by Napoleon: “Take time to deliberate, but when the time for action comes, stop thinking and go in.”
Your business is only going to come to life if you do the things you need to do to bring it to fruition. If you continue to put off the things you need to do to get your business started until tomorrow--you're too busy at work, or your kids need you to pick them up at the mall, your spouse wants you to watch a popular new television show--then when will you ever get around to doing them?
Another common problem faced by those who work from home is isolation. In a standard business environment, people are dealing with co-workers constantly, as well as the noise of ringing phones and running machines. There are also meetings, breaks, and lunch hours that serve to break up the day and provide opportunities for socializing. This contact with other people provides a built-in system of motivation to at least appear busy at work. In contrast, many people who start a home-based business are faced with nothing but a quiet, empty house. Some find it difficult to motivate themselves and succumb to boredom and loneliness. But such isolation does have a positive side: working at home increases productivity by an average of 20 percent, so home-based business owners can often get more work done in less time. Planning is necessary to overcome the negative effects of isolation, however. Experts recommend that home-based business owners schedule interaction with other people on a regular basis, using such means as business meals, outside meetings and appointments, clubs and associations, and networking.
Focus on user experience. Your biggest considerations with an ecommerce site will be setting up your website to offer the best user experience. Choosing the right web design is crucial, as is making sure that your shopping cart software is well-suited for your business. Be sure to check out the various shopping cart options available—from Shopify to X-Cart and many more.
No one likes doing taxes, and they need to be paid whether the economy is booming or tanking. This is why at-home tax preparation can be a great business for anyone with a tax background, or anyone willing to take training courses. Since there are annual changes to the tax code, you will need to refresh your training each year, and you will also need to register with the IRS as a tax preparer. This is more of a seasonal business than a year-round endeavor, but it can be a great way to earn some extra income each winter/spring. Median salary: $30,900.
I think the biggest killer of new ventures is good ideas. A good idea sparks the imagination, causes the founder to invest heavily in a dream, and much of that investment goes into building filters to bad news, which ensures you will be way too overconfident and prevents you from transforming a good idea into an idea that works. The end result can get pretty ugly, and usually involves uncontrollable crying. (That’s right. Real men cry.) As an idea man, I have learned the hard way to distrust my ideas. Better to start with some problems worth solving that I am uniquely able to address and build a simple MVP prototype with no expectation that it will work. Then find out what is wrong with it, fix it, repeat.
I have always loved a bargain and enjoy shopping around for the best deals before committing to a purchase. Over the years, I have negotiated with suppliers for the best prices and services for my clients. Now, I had to do it for my own business. As a small start-up, funds were initially low – and at times non-existent – so committing to long-term contracts was not always practical.
The only thing better than the smell of grandma’s chocolate-chip cookie recipe baking in the oven is watching cash roll in as customers order those delectable treats. Home baking is an approachable business idea in that it involves doing what you’re probably doing a lot of, anyway, if you love to bake. You probably have all the equipment and expertise you need to get started.
If you have carpentry, plumbing, electrical, or other home improvement expertise and the requisite tools and equipment, home renovation can be an ideal business to operate from home. The best home renovation to focus on for the long-term? Bathroom renovations. My recent bathroom renovation included cabinets that were installed by a local contractor who operates his cabinetry business from his home.