The Best Home Business Ideas are based on skills and interests that you personally have. Looking to start a home business or generate some extra cash with our smart money from home business ideas to supplement your income? Here are a few broad suggestions that need minimal capital investment and/or training, because they are based on your skills and interests:
Home Business Ideas: #1 – Consulting for your former employer
If you are unemployed, hopefully, you left your former employer on good terms. Negotiating a deal to do some consulting work can ease the fear of leaving your secure full-time job by getting your very first paying client. This transition period works for both parties as your employer gets access to a trusted and experienced hand and you get a client to start building your portfolio, gain referrals and the potential of a long-term business relationship. Here are some tips for success in one of the home business ideas we will discuss:
- Be honest, explain your availability, timeframes and professional goals with your former employer. You’ll be getting a mentor and a trusted guide, who will accommodate and correct you, if you show that you will be teachable.
- Deliver value by offering a competitively comparable rate and over delivering on your performance. Be careful not to undervalue your services and remain professional when discussing financial matters and rates. State your worth and you’ll be respected for it.
- Based on your skill set, select the most appropriate assignment that would also reflect your future goals and projects. If former co-workers are not supportive, an assignment that can be done remotely from your home office, might be ideal. Chose a reasonable time frame of about nine weeks or less and transfer the terms of agreement from your project proposal to a written and signed contract.
Home Business Ideas: #2 – Web or Online business like eBay, Amazon, Blogging
According to eBay, more than 112 million active users globally are on the world’s largest online marketplace and $75 billion worth of goods were sold on the site worldwide last year. If you like retail, starting a new business or expanding your existing business with an extra online sales channel using eBay’s New business seller’s guide is your roadmap to success. Take the free training to avoid pitfalls and mistakes.
According to Amazon Marketplace, selling there helps you give hundreds of millions of customers a familiar, trustworthy shopping experience and helps you avoid the time and cost of developing a stand alone e-commerce website.
Also when you sell on Amazon, you can use Fulfillment by Amazon (FBA) so that customers can benefit from Free Super Saver Shipping and Amazon Prime. Learn about the tools you have access to and build your business.
Products for sale can be sourced from home, liquidation sites, close-out, warehouse and outlet sales.
If you love writing and sharing information, then blogging is a natural outlet and there are free blogging platforms like WordPress, Blogger, Tumblr etc. This however, takes time and consistency to build momentum and the traffic needed to generate income.
Home Business Ideas: #3 – Social Media Consulting/Website Content/Mobile Consulting
The power of human communication and relationships has never been more explored with the many social media options and information sharing sites. We are constantly on social platforms of Facebook, LinkedIn, Twitter, Google+, YouTube etc. technologically connected to friends and the vast number of people we could potential come to know…and now corporations are talking too!
This has a given an edge to new entrepreneurs starting small, one-on-one social media strategy consulting firms or website content firms, tailored to the unique needs of each customer.
Small and big companies want to leverage social media for a variety of goals, including marketing, sales, business development, customer service, reputation management, and crisis management.
If you are tech-savvy or can learn the new language of social media, mobile consulting for Apps, Text Marketing etc, this is an exciting and new wealth trend.
Home Business Ideas: #4 – Virtual Assistant/Convenience and Domestic Services:
These are great home business ideas or options for service-oriented individuals. Outsourcing websites like Elance, Freelancer, Fiverr, oDesk, Guru, Vworker, Scriptlance, Amazon’s Mechanical Turk and other freelancing job sites, help and enable individuals and companies, post jobs, screen bids, negotiate and hire a top quality person or team based on ratings or history to work for them on projects.
The reduced pay-rate, ease and added flexibility of having to hire staff only when needed is a huge reason many businesses have turned to outsourcing. If you have a marketable skill and can be consistent in producing quality results, this is a great way to make money from home.
Generally, you be paid per completed project, or on an hourly basis. Project work is generally safer but an hourly rate is more appropriate for longer term work for a variety of tasks.
You can also start an agency and/or offer convenience and domestic services like daycare, baby sitting, cleaning, personal shopping etc.on a per diem or contract basis, due diligence is required to ensure compliance with privacy, training and certification laws and requirements.
Home Business Ideas: #5 – Pet Business
According to the APPA, about 62 percent of all households in the United States have a pet. Formal training, education and certification is required for the animal care and services industry. This is a highly regulated and monitored business, as your passion and love for animals needs to be supported by the training to ensure their safety and your professional success. Groomers, kennel attendants, trainers, and pet sitters each have a unique set of responsibilities. Think carefully about what specific roles that interest you and study their different descriptions and the type of services required. Check out the Small Business Administration website for extensive and relevant information.
Home Business Ideas: # 6 – Network Marketing/Direct Sales:
People still get wary about MLM or Network Marketing. How else do you get a piece of the energy, telecommunication and technology, solar energy, cosmetics, nutritional supplements and coffee markets, except in a direct sales company?
As a representative, you pay a ‘franchise’ fee to acquire a turnkey business venture without any glass ceiling to growth and promotions. The risk and acquisition cost of this home-based business opportunity is minimal compared with other brick and mortar franchises.
In many ways, network marketing comes naturally to women who make up about 82% of the industry because we are social creatures by nature and groomed to connect, inform and nurture, from our very first dolls or bake-oven toys and princess tea parties. Essentially, the nature of the business is sustained when a friend loves a product and tells another friend, with each conversation, you gain a sale or a business partner.
The deregulation of economic sectors like telecommunication, energy has provided a high-powered opportunities for men to take part in network marketing companies selling essential products like TeleHealth Insurance, TextMarketing, Credit Card Processing, Energy, Solar or Green Energy,Telecommunication, Cellular and Satellite services.
Check out my post on Attraction Marketing to learn how value and duplicity determines MLM success.
Some Final Thoughts:
These are some home business ideas that need reasonable investment of time. money and training, but with hard work and persistence, you can achieve financial freedom while enjoying the journey.
Start by developing an effective online presence, use effective marketing strategies and training to source targeted leads, customers and sign-ups for any of these home businesses.
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Author: A Danesi
A. Danesi is a writer, a business and marketing consultant with an MBA in Financial Management. “I love people, writing & crunching numbers…in that order – Please Like, Connect, Comment and Share. Thanks for hanging out!”
Categories: Finances & Money
Tags: business with minimal investment, home based business, home business opportunities, home-based business ideas, how to make money from home, internet business ideas, make extra money from home, making money from home, online business ideas, work from home ideas, work from home small business ideas