Stay connected. Carry an organizer wherever you go. If you're still using a day planner or similar dinosaur, consider upgrading to a Blackberry or other high-tech gadget. You don't need to go crazy and spend a lot of money, but invest wisely in something that will hold everything you need and allow you to instantly access it on the go. Another good idea is to not keep all of your information in one location, such as the hard drive of your home computer. Keep your data hosted on a virtual exchange server so you can access it anywhere that has an Internet connection. A big misconception about homebased business owners is that they stay at home all day, everyday. And as you know, that's just not always true.
Most home businesses start out as a one-person shop, but you don’t have to be a jack-of-all-trades. You can always outsource jobs, Evans says. Sites like oDesk and PeoplePerHour can hook you up with affordable independent contractors. On these sites, you post your project and contractors bid on it. You select the contractor that has the skills you’re looking for and fits within your budget.
11. Don’t underestimate the importance of branding. “Branding is the most important thing when building an identity for your company,” says Michael Di Pippo, founder of Penfishingrods.com. “The objectives that a good brand will achieve include delivering the message clearly, confirming your credibility, connecting your target prospects emotionally, motivating the buyer, and [securing] user loyalty.”
Yes, spending time on YouTube can be a legitimate business idea if you take it seriously. If you can create value-driven, entertaining video content and grow your subscriber base to a few thousand subscribers, your videos can start generating pretty substantial income from all the ads being displayed on your videos. Many YouTube users make well into the millions each year, so there's clear potential to take this from side business idea to eventual millionaire with the right combination of content, audience, skills, relationships and timing. If you’re considering starting a YouTube channel it’s important use best practices when making videos. Read the YouTube playbook for tips which will result in faster growth of your channel. Additionally think about investing in a quality camera and microphone since the production quality of videos can often affect your viewership.
Yet another common problem encountered by home-based business people is frequent distractions that reduce productivity. In fact, distractions are everywhere for people who work from home. When faced with a difficult work task, it sometimes seems far preferable to run the vacuum, clean out a closet, walk the dog, have a snack, take a nap, raid the refrigerator, pull some weeds in the garden, or do any of the myriad other things that need doing around a normal household. In addition, people who work from home lack the motivation that peer pressure can provide in a regular office. They also face spouses and children who demand time and attention, as well as friends and neighbors who call to chat or stop by to ask favors.
One of the online world’s hottest professions at the moment, this business is a gold mine for the tech-savvy entrepreneurs. While everyone’s slightly obsessed with getting their sites SEO optimized, not many people can actually wrap their heads around this topic. If you decide to go into this field, you can think about offering link building, content creation, on-page SEO optimization and similar one-off packages.
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.
Taxes become significantly more complicated with a home-based business. Self-employed persons are allowed to deduct business-related expenses—such as wages paid to others, the cost of professional services, shipping and postage charges, advertising costs, the cost of office supplies and equipment, professional dues and publications, insurance premiums, automobile expenses, and some entertainment and travel costs—from their income taxes, but are also required to pay self-employment taxes. People who work from their homes may be eligible for another tax deduction known as a home office deduction. The home office deduction allows individuals who meet certain criteria to deduct a portion of mortgage interest or rent, depreciation of the space used as an office, utility bills, home insurance costs, and cleaning, repairs, and security costs from their federal income taxes. Although the Internal Revenue Service (IRS) has set strict regulations about who qualifies for the deduction, about 1.6 million people claim the deduction each year. According to Gloria Gibbs Marullo in an article for Nation's Business, the savings can be considerable: a sole proprietor living in a $150,000 home stands to save about $2,500 in actual taxes annually.
If you know a thing or two about paid internet marketing and are comfortable with Google, a great way to make some extra income as a side business idea is to sign a freelance contract to manage a company’s Google Ad Campaigns, and gradually start bringing on more clients as your consulting business grows. Just be sure to brush up on all the right business slang and industry jargon that's pervasive in the online marketing world before you launch unprepared into this side business idea.
Perhaps you love children. Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you. Child-care needs continue to soar in the United States. Many people prefer the option of their child being cared for in a home environment while they are at work, opposed to a more institutional-like setting. These things mean that a homebased childcare business can get off and running immediately.
To locate sites that might be interested in your content, e-mail other website owners in your industry–be sure to choose sites that receive attention and visits from your target market–and invite them to use your article on their site or in their newsletter at absolutely no cost. Many site owners need fresh content, so they’ll be more than happy to post your articles–and it won’t be long before those articles start driving traffic back to your site.