Guidant Financial helps individuals secure small business funding to start, buy or grow a business. An industry leader in innovative business and franchise funding, we work with new and existing business owners to educate them on their options and create customized funding solutions. Our full suite of funding options includes 401(k) business financing, SBA small business loans and unsecured loans, as well as growth capital and other business services.
Great post. My husband has been selling used books on-line for 10 years…It’s not enough to fully support our family of 6, but it does afford us a lot of flexibility. We both work other odds and ends spot jobs and it ends up working out. We have also had the flexibility to be volunteer managers at a church camp in the summer. (Right now the camp can not afford a manager) I’m pioneering a women’s conference and event ministry. I’ve always been very greatful for the freedom we have. My husband helps at the kids schools, apointments are easy to make, and the stress is less. It’s been a sacrifice in some ways but worth the gains in time and flexibility for sure.
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.
Wedding photographers command premium rates. After all, you are capturing one of a couple's most important life moments, making it a very lucrative side business idea. Many professional wedding photographers charge between $2,500 - $10,000 (or more) to shoot a wedding, so it's realistic that this side business idea could quickly blossom into becoming a full-time endeavor with the right happy clientele base that's willing to refer you to their friends and family. Check out the Complete Wedding Photography Experience over on CreativeLive to get up to speed on everything you need to launch a successful wedding photography business.
Take time out for good behavior. It's not uncommon to find yourself working 60- to 70-hour weeks. But the good thing is, if you want to sneak out and see a movie at two in the afternoon, nobody's going to tell you not to do it. You have that freedom and flexibility as a home business owner. It can be tempting to work all the time when you start seeing how successful your business has become, but know when to relax. You've already established a smooth-running business. Take a break every now and then so you don't get burned out.
Double, extra YES to #5 and #6. I think I’d also add jumping in too quickly without a plan.Not a business plan, but a MONEY plan. I see SO many people quit their jobs and start businesses with NO backup funds, and then freak out when they are broke. Have a backup fund OR be totally ok with living out of a van when you get started (I literally did this to save money when I started my business). Plus, living in a van is just super fun anyway, so you can pretend you’re doing it because you want to and not just because you’re broke! :)
Sometimes it seems like there’s an app for everything. Yet somehow, new ones keep popping up and selling for lots of money, all the time. If you spot a niche that hasn’t been filled to its potential just yet, and you can learn the coding skills (or know someone who already has them), you could be on to something with this side business idea. Today, it's even possible to build an app without any coding skills whatsoever. Just make sure you validate your app idea before jumping too far in. Even if your app business idea doesn't pan out to be a best-seller, you'll still pick up valuable skills.
Affiliate marketing. You know this one already. You include links to products you are promoting as an affiliate, and every time somebody buys the product, you get a commission. With a blog you can integrate advertising with content to make it even more likely you’ll get the sale. For example, you could do a product review — which is useful content — and then include a link to buy the product under an affiliate link.
His company has produced millions of the beloved bath-time toys, including creating ducks for Fortune 500 companies, major league sports teams in the NBA, NHL, and Major League Baseball, and celebrities. He is the only employee, and he outsources almost all of the work, from design to manufacture, to other businesses. “You can grow your brand to be really huge, all from your home,” Wolfe says.
2) Lower overhead. All home businesses, however, share the advantage of not having the expense of buying or renting business premises elsewhere which cuts down their overhead considerably. Because there is no separate office to rent or maintain, they may also save money on expenses such as utilities, and, depending upon local regulations, the cost of business licenses and taxes.
The type of business you have, its size, and the amount of risks concerning liability or other possible threats will determine the insurance coverage you will need. Insurances include those that can be attached to your present homeowner’s or vehicle policies (if your vehicle is used in your business); separate commercial business policies; employees’ insurances; disability, life, and health insurances for you; and other specialized ones. Talk to a licensed insurance agent who represents numerous carriers to find the best policies. If you need health insurance, local business owner organizations usually have discount group plans for members.
As I’ve already covered with TeeSpring, the T-shirt retailing business is worth millions of dollars. But what if you want to do the manufacturing side of things? T-shirt printing turns out to be quite a rewarding business idea for many each year, but can quickly consume much of your side business idea time—so know what you're getting into before diving in. This multi-billion dollar industry counts big corporate factories as well as home-based part-time entrepreneurs.
I’m glad you mention how working from home allows you to not have to pay rent or employees and your home is already furnished so you don’t have to buy office furniture and equipment. You would probably want to make sure you have a reliable computer that is able to handle the business as well as any other equipment that you would use for the services. In order to figure out what exactly you do need, you’d probably want to figure out the type of business to start by checking out what opportunities are available online and then make sure you have the technology and other necessary tools for the service or products you’ll be providing.
These reasons are just the tip of the iceberg when it comes to the importance of being online. Not only will you improve your business’s visibility but you’ll also have some great opportunities to talk to all your customers. Got some new products? Received some great feedback from a customer? Being online gives you a great platform to shout about your business through a variety of channels, tools and techniques, not all of which require a hefty budget.
Think blogging is no longer a viable source of income? Think again. Tens of thousands of bloggers (including yours truly) are creating profitable content on topics as diverse as scrapbooking, home cooking, travel, film, lifestyle, business, personal finance and more. And we're growing our blogs into six-figure businesses thanks to a combination of email subscribers, affiliate marketing, blog sponsorships, and other revenue streams. Your first step with starting a blog is quickly getting the technical side of things handled (my free master course on blogging will show you how), and then both understanding what your audience craves and learning how to attract those readers online.
But be wary. Food service—even a delivery service, which is the most likely scenario for home bakers, as opposed to setting up a storefront—comes with built-in risks. Prepare yourself, and read up on your local insurance requirements. And don’t be afraid to start out by making just one or two really great treats. Consistency is more important than variety in the baking business.
You can sell your products in numerous ways. 1. Link your website on other similar sites, and in exchange, you link their website on your pages. 2. Look for free websites like Craigslist.org, local.com, Google+, etc. 3. Use all the social media platforms: Facebook, Twitter, Instagram, Pinterest, Linkedin.com, or Google Hangouts. These sites give you a free account, then you search their site for people or business with similar interest and engage and follow those people. Be careful of the spam policies. This is free but time-consuming. 4. Pay for ads on Google, Yahoo, and Bing.
In general, a home office deduction is allowed if the home office meets at least one of three criteria: 1) the home office is the principal place of business; 2) the home office is the place where the business owner meets with clients and customers as part of the normal business day; or 3) the place of business is a separate structure on the property, but is not attached to the house or residence. The deduction is figured on the size of the home office as a percentage of the total house or residence. For example, if the total house size is 2,400 square feet and the home office is 240 square feet, 10 percent of the total house is considered used for business. That would allow the business owner to deduct 10 percent of the household's costs for electricity, real estate taxes, mortgage interest, insurance, repairs, etc. as business expenses.