For example, someone looking to start a PC repair home business discovers that all firms providing the same service in the area are retail shops. It is common practice for retail stores to strongly recommend item replacements in order to increase sales. In this scenario, there are several steps an individual can take to help build a unique value proposition using the data they’ve gathered:
I have a friend that is the city manager of a town of about 25,000 where his main task is processing requests for building permits. Actually a volunteer-type job, no salary. But he makes a bunch of contacts every day, and his address book is huge. So he is busy all year except the Holidays. To fill in this time he started a Christmas tree lighting service (houses, lawn ornaments, etc.). In this 3-month period he makes enough to keep him going the rest of the year.
Hi Akshara – You’ve given a lot of good advice. Though a home business seems easy (but yes, they ARE easy to start), it’s first and foremost a business. That means you won’t be an overnight success. It could take years before it earns enough money to live on. It might be best to start it as a side business. But always remember to run it as a serious business, and not as a casual hobby. One other thing about a business…the hardest part is getting it from zero to making money. You have to be willing to overcome that hurdle.
Many popular businesses, such as Microsoft and Apple, started their journey in a garage. If you have similar aspirations, start the process by learning how to start a small business at home. The process is similar to opening a brick-and-mortar business—sometimes with lower startup costs. Some of the steps are different, such as the need to obtain an at-home business license and learning online marketing.