Top 10 Home Based Business Ideas

This article will list out the 10 most solid and rewarding home based business ideas that you can use to start your own small venture and work on your own terms.

1. Consulting

This is one of the most common home based business ideas that people use to work and earn from home. If there is a subject that you are good at and passionate about then a little more effort can see you become something of an expert on that subject. You can then help other people looking for information and guidance on that subject.

For example, if you like taking care of your home and know how to keep it free from infestation, a lot of people wouldn’t mind paying you for consultation if you could help their homes be free of infestation.

2. Blogging

This is similar to consulting in that you need to have a topic or subject that you are passionate about and are willing to spend time on. However, how you earn money from blogging differs from how you earn from consulting.

In the last few years, blogging has become one of the most sought after online business ideas which help people earn money online mainly from advertising revenue and to some extent from commission revenue. Blogging is also one of the passive income ideas that help you keep earning money continuously.

3. Product Reviews

If you really like playing around with products like electronic gadgets or other utility products, a lot of websites and magazines would be willing to pay you decent amounts of money for putting together a comprehensive review of these gadgets.

4. Freelancing

If you have some sort of technical skill for which companies hire people, you might be able to put those skills to use on freelance sites. Using freelance sites, you can choose the jobs you want to do for a specific amount of time from your home and get paid for it.

5. Ecommerce

E-commerce from home might sound daunting but rest assured, it is far from that. If you make good use of dropshipping, you can be up and running with a profitable home business in under a week.

To make this a success, you will need to set up a website to sell products, set up a payment mechanism to accept payments and find a dropshipper who will dropship the products that you will be selling.

6. Internet Marketing

Amongst all the online business ideas and passive income ideas, Internet Marketing is probably the most lucrative one. Companies pay a good amount of money if you can help them market their products online.

If you can generate traffic and send the traffic to offers put out by various companies, you can earn a decent chunk of money from this. And the best part is that a lot of the work done in internet marketing can result in passive income for months or even years.

7. Online Services

A lot of websites need services like content optimization, SEO and link building. If you have the necessary skills to do these jobs, there is a lot of work available through freelance websites and on online forums.

8. Writing Services

Businesses and websites have a constant need for new, fresh, relevant and high quality content. If you can write good content, you can make substantial money by working from home. Over a period of time, as your home based business for writing grows, you can even start outsourcing the writing work to increase your profits.

9. Website Design and Hosting

Website designing and hosting is probably one of the oldest online business ideas. It might be old but it is still effective. Most importantly, once you have an established client base, the hosting income is one of the most stable passive income sources available.

10. Private Tutor

If you have an aptitude for teaching or making learning easier, being a private tutor to kids can also be a very good work from home idea. Apart from earning money, you can also get the satisfaction of helping shape children’s futures.

Regardless which of the home based business ideas you choose, it is very important that you plan ahead. Keep in mind that like any other business, home based businesses also face uncertainty arising from market conditions. Being aware of these things will increase the likelihood of your home business idea being successful.

Home Business Ideas For Just About Anyone!

Are you thinking about working from home and need some home business ideas? Here is a list of ideas to help you start your thought process.

CREATIVE: Cake/candy making or decorating – DJ – seamstress – music teacher – greeting card design – web design – writing – photographer – event planner – scrapbook making – growing vegetables – pet grooming – landscaping
Creative home business ideas require an artistic mind with an eye for detail. Most of these ideas can be learned through practice and more information can be obtained from the internet, library or local vocational colleges.

Although local laws do vary, so you should check with your local secretary of state, most of these home business ideas do not require licensing.

PROFESSIONAL: CPA/Tax advisor – massage therapy – counseling – doula – childcare – bed and breakfast
Professional home business ideas for the most part will require a special education and local licensing from state agencies. These business opportunities will tend to be more lucrative though because of the education required to perform them. It is recommended that you seek out legal counsel to ensure that you have all the proper permissions to limit liability.

LABOR: auto repair – antique repair and sales – small engine repair – personal assistant /shopper – flea market booths – taking online surveys – online trading – housekeeping – handyman services – data entry – catering
Labor home business ideas are the jobs that require a little more work than skill, although skill is required of any valuable service. Some of these ideas require specialized knowledge or experience. Most people cannot simple pick up a wrench and start fixing an engine without previous experience doing so. Some may require a license or certification from the state. Some of them a person can just put forth some effort and take off doing.

No matter what home business idea you decide upon, you need to develop a plan, invest some money to get some equipment, to meet state requirements, get an education, and probably some basic advertising material (i.e. business cards and fliers). All of the above home business ideas will require effort. To develop business you will need to talk to all of your friends and family to let them know you are in business and ask for referrals. After you have done that, you will likely need to market and sell your service or product to the general public if you want to keep income coming in. If you are not working, you are not making any money. You will want to make sure that you keep detailed records of all income and expenses for tax reporting purposes. And make sure you check to see if you will need special insurance for liability coverage.

There is one more home business idea that is worth mentioning. It has been saved for the last because it is different than the afore mentioned opportunities. Network marketing, also known as multi-level marketing, affiliate marketing and online marketing are unique home business opportunities that can offer a few added benefits.

Similar to ‘traditional’ home based businesses, a person starting one of these marketing businesses will need to have a plan, get a little bit of education, put forth a little or a lot of effort depending on how successful you want to be, invest some money to get started, market and sell your product or service to your family, friends and then the general public. However where network and affiliate marketing differ from a ‘traditional’ home business idea in that over time as you build a base of clients and build a team of other people needing to work from their homes, your income becomes less dependent on your efforts and can actually start growing exponentially without much work on your part. The key, with any MLM type of business, is to learn, follow and teach a duplicable system and then you will start to make a percentage off of the efforts of those that you teach how to make money from home.

There is a lot of benefits to working from home. Tax benefits, lower overhead costs, freedom of time (to some extent) and flexibility. Whatever home business idea you decide to choose, make sure you take the time to look into what you need to have to do it properly. Many people rush into starting a business and end up costing them much more than they could ever dream of making from fines, lawsuits and penalties. Legal fees and court costs from lawsuits or even criminal charges if you do not know what laws apply to your particular home business can bankrupt most home business owners.

I hope that this article has helped you in your quest of fulfilling your dream of working from home and building the success and freedom that you are dreaming of. Good luck and much success!

Generating Better Business Ideas

Lifecycle of Management Ideas

When evaluating the sustainability of lifecycle management ideas, it’s important to evaluate the ideas in the context of the company. Performance is more relative than absolute. For this reason, the success of business ideas can’t be replicated in every company. If ideas can be replicated, the competitive advantage is lost.

The Role of the Business Leader

Managers with revolutionary business ideas usually have a different concept about authority and have a unique management style. These managers are dedicated to making the organization much different from when they started.

For example, P.V. Kannan, CEO and Co-Founder of 24/7 Customer, a company that focuses on outsourcing, developed a company that managed email (before companies routinely used email communication). He ran into a lot of resistance when marketing the idea to business owners. However, companies use email routinely today, which makes Kannan a revolutionary leader (although the idea doesn’t provide a competitive edge any longer). Kannan also launched a call center in India and received a lot of push back. The call center currently has over 7,000 employees and is a huge success.

Some business leaders aren’t confident there are many new business ideas in the marketplace. They believe that most leaders are taking existing ideas and tweaking them to improve success. Business ideas often go through cycles. What’s successful today may be obsolete several years down the road and then make a come back in 20-years.

Recognizing Good Management Ideas

Even the brightest leaders get confused about drivers and results. Management should invest time ensuring that data is independent and reliable. When testing the success of an idea, make sure the independent variables are truly independent and aren’t influenced by outside factors. If you don’t follow this rule, companies don’t have an accurate picture of what is driving the results.

For example, Kannan was asked by a large client to develop two new customer service measures. Customer service representatives were now required to end the call by asking if there’s anything else needed and saying “have a nice day.” However, by measuring the impact of these changes, Kannan found the new changes didn’t make a positive impact. In fact, customers were annoyed by representatives prolonging the conversation and wanted to get off the phone quickly.

Generating Larger Pools of Ideas

When coming up with good ideas, it should be generated from a large pool of ideas. This way, management can throw out the bad ideas, and hone in on the most promising strategies. Employees developing the pool of ideas should come from a variety of business units. When everyone in the room comes from the same place, the organization may miss out on a truly great idea. Conformity in this process will only lead to short-term results. More diversity provides more opportunities for long-term results.

Another challenge in implementing good ideas is taking the ideas from concept to implementation. As management teams go through changes, ideas often get lost in the mix and don’t see the light of day. Streamlining the process for rolling out new ideas will ensure the strategies aren’t sabotaged by unnecessary roadblocks.

Rolling out revolutionary ideas can seem risky. However, having good research to support the new ideas allows leaders to make educated guesses when the outcome is risky. Taking calculated risks provides an opportunity to win market share and boost long-term results. When planning new ideas, management should think outside the “boom and bust” cycles and build capabilities that have the potential to provide a competitive advantage for years to come.

The Future of Management Practices and Thinking

Generating the best business ideas to create long-term success will require a higher degree of attention paid to daily events. Managing daily activities more efficiently will continue to drive better performance and revenue. Management need to change practices to become more accountable for results. Companies also need to develop new ideas that will keep pace with the changing marketplace. Executives of the future will need to focus on ideas for generating better data and improving the accuracy of decisions.

Resource:

Bridget Finn. “The Life Cycle of Great Business Ideas” Booz & Co, September 2008.