The first step involves figuring out what type of business you want to run. Too many people focus on fast profits over choosing the right idea. Although the goal is to make money, you shouldn't base your decision on profit potential alone, ignoring your interest in or compatibility with the business. It's always better to choose a business idea that you're passionate about.
Using the data you gather from your research, you can come up with a unique value proposition. Think of this as what separates you from your competition, while at the same time something that your customers want. To come up with a unique value proposition, examine what everyone else is doing and the current market. Then, determine how you can provide a better solution, offer a better price point, or both.
While I’m not an advocate of selling yourself short or devaluing your worth, there is a time and a place for freelance job sites. These sites are job boards for freelancers and businesses; it is a place to connect, shop around, and, most importantly, get some money into your pocket. While many of these sites may offer smaller payouts, they are a great place to gain experience and build up your portfolio.
I have another to add to your list that’s almost as easy to do as going for a daily walk! Clean up litter outside commercial properties for property management companies. The work is done on foot using simple hand tools. I started this as a side gig in 1981 and grew it into a profitable full-time business that I continue to operate today. I share my experience in my book, Cleanlots, and offer free support.
Assess your financing needs. While starting a business from home can be more affordable than starting a traditional business, you will still need money to get started. As you form your home business idea, think about how much money you will need to buy inventory, buy your production equipment, or cover any other initial costs. If you don't have a lot in savings, you can also get a business loan to get started, but this would mean qualifying for and then subsequently being responsible for a loan, which can be difficult for a new business. Consider your financing options carefully as you set up your home business.
And don’t forget social media as a home-based business. Many churches, other non profit charities, and business owners NEED to advertise via social media. You can either be hired to do theirs or become a consultant who trains their staff. Many churches don’t know the Internet laws like an avid social media user does. They’ll need someone to teach them how to use social media and protect their organization while doing it. Ask me how I know. 😉 My husband and I have worked with some organizations who refused to listen and they ended up with some scandals. Take a gander at what happened to Pastor Alios Bell’s ministry reputation when someone who knows social media happened upon her indiscretion at Applebee’s. Google it. It went viral.
Digital Marketing and creating an online presence is necessary for every business. Billions of internet searches are completed every day on major internet search engines such as Yahoo and Google. Buying a .com and setting up a website with an easy service such as WebHosting Squared can cost less than $100 per year and takes you one step closer to finding more customers online. After you have created a website and ranked on google, Consider creating social media pages on Facebook and Twitter to communicate with potential customers and spread the word across your community. Social Media makes it easier for you to collect reviews, talk to customers, and advertise for free.
Perhaps most importantly, though, would-be eBay moguls need to specialize. Just throwing junk online won’t work. Sellers need to know what they want to sell and how they’re going to market it to their audiences. Again, competition is fierce, so research, preparation and strategy are critical. (For reference, eBay itself provides an extensive guide to selling on the site.)
Even the portrait and general-interest options, though, aren’t really for beginners. Photography businesses can be complex operations, with lots of equipment required and years of portfolio and relationship building necessary to really get steady income flowing. Still, if you’re a hobbyist already, starting a photography business as a side operation is a great way to make some extra money and possibly begin a career change.
Great ideas! I’ve been thinking about starting a home-based business for years but I just never stopped long enough to actually start and I didn’t know what kind of business to pursue. Now I’m ready to get started and you gave me some really good ideas. I really appreciate the links to more information on how to get started in several of these business opportunities. I will definitely look into them.
With affiliate marketing, you offer the products for sale, for example, on your blog or e-commerce website. Each product has a unique link that tracks back to your account with your affiliate partner. A prospect who clicks on the link is taken to your partner’s shopping cart for checkout. Once they buy, that purchase is recorded and you receive a commission. Commission amounts vary depending on the affiliate partner, but is generally 5 percent to 25 percent, or 50 percent or more with digital information products. As you can see, there’s little risk on your part and virtually no investment needed either. Just like with drop shipping your only costs will be marketing and advertising to drive traffic and generate the sale.
Affiliate marketing, a sort of product placement, will let you receive payment from companies in return for advocating for their goods and services. Although this might sound a bit iffy, if you truly do recommend that your readers try out these products, then it doesn’t need to come across as sales-y or insincere. Readers will understand that you need to make money somehow, and many will appreciate your recommendations if they’re accurate.
Cool! For now Im doing Craigslist business… I buy cheap stuffs in eBay then sell in Craigslist with profit. It works but it takes time. Im not a sales person who can talk to sell someone about the product. Im a normal quiet guy. But in Craigslist I just wrote down the description of te product Im selling then post them. No need to sales talk someone will just email you if they want to buy that product. But I only meet in public places, with busy area so its safer. I hope this one helps 🙂
That’s what Yegi Saryan, founder of Yegi Beauty, does with her business. After establishing a successful online beauty brand, she turned her talents into passive income. Now, aspiring entrepreneurs can purchase lash classes to kickstart their skills and add it as a service offering in their business. Classes are available both online and in-person.
Swagbucks is an online platform where you can earn points called SB, which can be redeemed for gift cards and coupons. You can easily earn SB points by watching videos, playing games, answering questions, shopping online, and even surfing the web using their toolbar. Refer your friends, and you’ll earn even more SB points. Your SB points can be traded in for gift cards from Amazon, Target, Starbucks, PayPal, and Walmart. Swagbucks also gives you a $5 bonus for signing up! Swagbucks, which is part of Prodege, LLC, has an A rating with the Better Business Bureau.
If getting money from friends or family is not an option, consider applying for a loan from peer-to-peer (P2P) websites. P2P platforms like the LendingClub match borrowers with investors. They offer small business loans from $5,000 to $300,000 and allow you to pay them back over one to five years with a typical APR of 9.77% to 35.71%. This gives you quick access to funds, while investors enjoy solid returns over time.