Good ideas, I like numbers 2, 3, and 6 personally. I think in addition to persistence and determination, creating a successful home-based business also takes courage. It can be a scary proposition to quit your day job to go it alone. I always admire people who make this move, and I think that in general they are all the more happy for it. There is not doubt, though, that you have to go for it 100% in order to make it happen!
The easiest and cheapest option is the sole proprietorship, but to best protect your business, while still being affordable is the limited liability company. You'll want to research issues surrounding all forms of business structure now, because your decision will affect your startup costs, as well as your tax situation and your personal liability for the actions and debts of the business. Take advantage of the IRS's website for free tax information on the various legal forms of business organization.
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.
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.
It’s one of the first ideas people have when they think of starting a business: making and selling crafts. That means there’s lots of competition. The good news, though, is that people just love crafts. But be careful. Don’t just sell anything and everything. Define a product line and choose a distribution channel (online, craft fairs, etc.), and stick with your plan. And, of course, be creative.
Mild spoiler alert: Viewers of the TV drama Orange Is the New Black might remember that the show’s main character made amends with one of her fellow prison inmates by making her a soothing lotion. Hopefully you won’t find yourself in prison, but if you find yourself wanting to start a home-based business, consider hand-making soaps and lotions yourself.
Bob Lotich is a Certified Educator in Personal Finance (CEPF®) and has over 10+ years experience writing about Biblical personal finance and is the best-selling author of 4 books including Managing Money God's Way and has been named a top 20 social influencer in personal finance. His writing has been featured on Forbes, The Huffington Post, Yahoo Finance, CBN, Crosswalk, Patheos and others. He has been a full-time writer since 2008 and loves uncovering financial wisdom in the Bible as well as discovering the best tools and strategies to help you put more money in your pocket.
Starting a freelance writing business online involves choosing a niche (or two), becoming an expert in that topic, and creating an online portfolio for future clients to see. Freelancers have to prove their worth before landing reliable and high-paying clients. One way to jump-start your freelance writing career without any clients is by establishing your own blog.
Consider some of the more common ideas. If no business ideas are coming to mind, think about some of the tried and trued home business types. Some highly lucrative home business ideas include tutoring, tax preparation, business coaching, counseling, marketing consulting, accounting, web designing, interior designing, dance instructing, newsletter service, proofreading service, and resume writing service. These home based business ideas just require your personal skills rather than large investments.
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.