While most entrepreneurs rely on their personal savings to start a business, others seek funding from banks or family and friends. In fact, 75% of small businesses used their personal finances to fund their business, while 16% went to banks, and 6% solicited the help of family and friends. Let’s look at several funding options and see which one’s the best for your home business.
Of course, photography can take many forms, from photojournalism to portrait photography to general-interest stock photography. You’ll most likely go for either setting up a studio in your home or taking pictures for use as stock photos, as true photojournalism requires years of experience and almost never involves actually working from home. Keep in mind that stock-photo sites work on a revenue-sharing model, so simply selling pictures to one is unusual.
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Blake Stockton is a staff writer at Fit Small Business focusing on how to start brick-and-mortar and online businesses. He is a frequent guest lecturer at several undergraduate business and MBA classes at University of North Florida. Prior to joining Fit Small Business, Blake consulted with over 700 small biz owners and assisted with starting and growing their businesses.
If you’re passionate about helping people and have any experience in personal care, you might consider starting an eldercare business. Nursing homes can be expensive and people are often hesitant to put their family members in full-time care facilities. Therefore, you might decide to offer freelance care, traveling to your clients’ homes and caring for them as needed. Or, if you have space, you might consider offering your home up to a few full-time care residents.
I’ve found that fear often stops aspiring consultants from starting a consulting business–or any business–and on my blog, I talk about how to overcome those fears. I also talk about practical, concrete things you can do to start and run a successful consulting business, along with tools, tips, tricks, and techniques for automating your business and keeping costs to a minimum. The info I give is applicable to most other types of businesses as well.
A customer persona is a fictionalized representation of a specific type of customer based on demographics and interests. Typically, a business will have several customer personas if they are selling to multiple customer types. You need to figure out which customer personas fit your business, because it’s important to know the demographics you should target in your market research.