The best home business ideas are based on skills and interests that you personally have and also require minimal capital investment and training. Here are a few broad suggestions on some home business ideas:
Consulting for your Former Employer
If you are unemployed, hopefully, you left your former employment on good terms. Negotiating a deal to do some consulting work can ease the fear of leaving your secure full-time job by getting your very first paying client.
This transition period works for both parties as your employer gets access to a trusted and experienced hand and you get a client to start building your portfolio, get referrals and the potential of a long-term business relationship. Here are some tips for success:
- Be honest, explain your availability, timeframes and professional goals with your former employer. You’ll be getting a mentor who will accommodate and correct you, if you show that you will be teachable.
- Deliver value by offering a competitively comparable rate and over delivering on your performance. Be careful not to undervalue your services and remain professional when discussing financial matters and rates.
- Based on your skill set, select the most appropriate assignment that would also reflect your future goals and projects. Chose a reasonable time frame of about nine weeks or less and transfer the terms of agreement from your project proposal to a written and signed contract.
Web or Online Businesses
According to eBay, over 112 million active users globally are on the world’s largest online marketplace. If you love retail, starting a new home business with a sales channel is a roadmap to success. According to Amazon Marketplace, selling on their site gives you access to hundreds of millions of customers seeking a familiar, trustworthy shopping experience.
Partnering with sites like these, helps you avoid the time and cost of developing and promoting a stand alone e-commerce website. Take their free trainings to avoid common mistakes. Products for sale can be sourced from home, liquidation sites, close-out, warehouse and outlet sales.
If you love writing and sharing information, then blogging is a natural outlet and there are free blogging platforms like WordPress, Blogger, Tumblr etc.
This however, takes time and consistency to build momentum and the traffic needed to generate income.
Social Media Consulting/Website Content/Mobile Consulting
Social platforms like Facebook, LinkedIn, Twitter, Google+, YouTube etc. keep us technologically connected to friends and now corporations are eager to join the conversation. This has a given opportunities to new entrepreneurs starting small, one-on-one social media strategy consulting firms or website content firms, tailored to the unique needs of each customer.
Small and big companies want to leverage social media for a variety of goals, including marketing, sales, business development, customer service, reputation management, and crisis management. If you are tech-savvy or can learn the new language of social media, mobile consulting for Apps, Text Marketing etc, this is an exciting and new wealth trend.
Virtual Assistant/Convenience and Domestic Services
These are great home business ideas or options for service-oriented individuals. Outsourcing websites like Elance, Freelancer, Fiverr, oDesk, Guru, Vworker, Scriptlance, Amazon’s Mechanical Turk and other freelancing job sites, help and enable individuals and companies, post jobs, screen bids, negotiate and hire a top quality person or team based on ratings or history to work for them on projects.
If you have a marketable skill and can be consistent in producing quality results, this is a great way to make money from home. Generally, you’ll be paid per completed project or on an hourly basis.
You can also start an agency or personally offer convenience and domestic services like daycare, baby sitting, cleaning, personal shopping etc. on a per diem or contract basis. Due diligence is required to ensure compliance with privacy, training, certification laws and requirements.
Pet Care Business
According to the American Pet Products Association (APPA), about 62 percent of all households in the United States have a pet. Formal training, education and certification is required for the animal care and services industry. This is a highly regulated and monitored business, as your passion and love for animals needs to be supported by the training to ensure their safety and your professional success.
Groomers, kennel attendants, trainers, and pet sitters each have a unique set of responsibilities. Think carefully about the specific roles that interest you and study their different descriptions and the type of services required. Check out the Small Business Administration website for extensive and relevant information.
Network Marketing/Direct Sales
As an independent representative, you pay a ‘franchise’ fee to acquire a turnkey business venture without any glass ceiling to growth and promotions. The risk and acquisition cost of this home-based business opportunity is minimal compared to other brick and mortar franchises.
This is for team players and goal-driven individuals. Essentially, the nature of the business is sustained when a friend loves a product and tells another friend, with each conversation, you gain a sale or a business partner.
These are some home business ideas that are based on your unique skills and interests. With hard work and persistence, financial freedom is possible and you’ll actually enjoy the journey.