Starting a business from home can be extremely difficult, and even more difficult when the business is something that no one has ever heard of before. In this case, the first thing you need to do is to build up some business capital. For most online business owners, this means borrowing money or getting a small loan from family and friends. While blogging can make you financially independent, it’s easy to overlook how many other entrepreneurs started their business as a blogger before going into business full-time.
Because so many companies now have a website, it’s easy to lose track of how many blogs have actually been successful. The number one rule for starting a business is to start small and grow the business over time. Because you’re starting out as an independent contractor instead of working for a big company, you might consider writing about topics related to your business, but make sure that the content you choose is informational and doesn’t promote your business. If you’re willing to start blogging, we have created an epic series to show you how to begin a successful blog and earn money from home business.
If you have prior experience in social media, a home business idea might not seem all that different from a traditional business. After all, how could someone fail to use Facebook or Twitter to promote their business? Although social media is definitely a viable business tool, the best home business ideas take a little more creativity. If you’re interested in blogging but haven’t done so much as tweet, you might want to do something different. Social media tends to follow the principles of viral: once you share information with your friends, they begin to pass the information around, creating a viral effect that spreads like wildfire.
Viral spreads by being transmitted and spreads by being shared. Unlike a piece of written content that may be read in one reading, viral information spreads in ways that are both immediate and long-term. For instance, many companies that offer affiliate marketing use of social media in order to get the word out about their products and services. Once a company’s product or service is introduced to a community, many companies will happily pay affiliates’ commissions based on referrals. Therefore, if you’re an affiliate marketing company, you can help people make money, which gives you a commission on every sale you make.
While many individuals might consider social media as a business in and of itself, another home business idea that might be more lucrative involves developing a client database. In other words, if you’ve worked in the IT field, or if you know how to use email autoresponders effectively, you may want to consider setting up your own lists of clients. Clients are business owners who might need more assistance after your initial project; therefore, you might want to develop a client list that will be responsive to your market needs. Clients can range from small business owners looking for help completing a specific project to large corporations who might be ready to expand their business at a moment’s notice.
Freelance writers can also benefit greatly from creating client lists. As a freelance writer, you have the ability to sell your work directly to individuals through web sites like Elance and Guru. If you have prior experience as a business owner or employee, you might consider starting a business with your previous clients. Upon signing a new contract, you can charge the previous clients a percentage of your overall revenue to continue working with you. Your clients may pay you per page or per word, so you’ll need to consider how much work you can reasonably do, and whether you have any prior experience with writing for a business.
Home business ideas that involve a combination of remote work and freelance work might be most lucrative. Remote work allows you to be very flexible in your business practices, since you won’t be forced to work in someone’s office. In many cases, you can take on several clients at once without having to worry about showing up for work, dealing with other employees, and handling office politics. You also have the freedom to work at any time, which gives you plenty of time to complete your various tasks. However, this flexibility is also its downside. Clients might not feel as emotionally attached to their projects, and they may require a little more attention than your usual clientele.
Another good option for freelance and remote work is starting a YouTube channel. YouTube is one of the most visited sites on the internet, so if you have a decent video making skills, you might consider starting a business with your online video tutorials. If you already have a business elsewhere, you can use Google’s AdSense to monetize your YouTube channel for a profit. You can also promote your website or blog through your YouTube videos, which helps increase traffic to your site. This type of business involves significantly less overhead than some other business models, and you can potentially make hundreds of dollars each month from advertising alone.