When Ronald Reagan took the oath of office for the Presidency in January of 1981, one of his earliest pledges was to make life a little easier for the small business person. Reagan believed that America was founded on the backs of intrepid folks who took a chance and gambled everything they had on a chance to start fresh. Small business today was the embodiment of that idea.
Less regulation and lower taxes during the former California governor’s first term in office sent the number of small business formations skyward and the industry, despite increased taxes and regulation, has never looked back. Today, as much as ever, there are outstanding opportunities in the small business market.
Think about it.
Big business puts out a controlled product that appeals to the masses. Selling nationwide, there isn’t much attention paid to particular regional
differences. Small business fills this void. It’s not necessary in an environment of lower overhead and more flexibility to have a product that necessarily appeals to
the masses. You might produce, out of your own home, Tshirts and apparel with local slogans and insignia on them.
This product will likely appeal to the locals and certainly may have some fascination for tourists, too. It’s not something a major company is likely to fashion because of its limited audience attraction. But you don’t need to sell as many units to operate a successful small business.
There are numerous examples of small businesses having local flavor that become an overnight sensation nationally.
Perhaps you have that kind of ambition. It may be that your idea for a home-based business may have a national market. It’s wiser to start smaller if you don’t have a
lot of initial capital. If you have access to capital, that’s a different story.
Wayne Huzienga, owner of the Blockbuster video stores, borrowed heavily to finance his outlets. The first store didn’t make any money. But he believed in his idea — to have numerous video copies available for two or three nights at a time. He thought people would pay a little more for this kind of convenience. The first ten stores didn’t make any money. Neither did the first 100 stores. But Huzienga knew Americans. Suddenly the profits started to come and Blockbuster has developed into a commercial trademark for most shopping outlets in his country.
But you don’t have to make it that big to be a financial success. You can make thousands of dollars a week from our own home without having to invest that much capital in the business start-up.
There is one thing you can count on when you begin your own business. You won’t be bored. There are plenty of details to accomplish, a number of tasks that await each day. You won’t find yourself looking at the clock much, that’s for sure!
What do you do? That’s easy! What ideas do you have?
More importantly, what would you like to do? What are your current interests? What hobbies do you have that you’d like to work at more and make them pay?
You need to make analysis with any of your ideas. Make lists! Put your idea at the top and think of all the possible connections to it. Leave no idea out! Nothing should be considered silly or off-limits! This is your business now! The most obscure contact can yield the greatest results. Try them all!
This should also serve notice that any idea is possible for business. If it’s something you like to do, why not try it? Many of these ideas can be followed up on your own time even while you’re still working for someone else.
If you hate the job you’re currently in, wouldn’t it be great to work at something you truly love? Especially if what you love has an interest for others — enough interest to have someone put down a few bucks for your product or service.
Securing clients for your service is the key. The more new customers you obtain, the more likely your business will experience tremendous success.
Prospecting for new clientele is an ongoing process. It never stops! Some people may not care for that end of the business, but you’ll be different. Why? Because you’re working in your own business, doing what you love to do in an area that you have a great amount of knowledge and curiosity in. When you talk about it, there will be no hiding the fact that you truly believe in your product or service. Talking about it is fun. Talking about it is prospecting. Hence, prospecting is fun!
How do you get people to open up today when you’re in a conversation with them? You ask them about a subject you know they like — and then let them talk. Prospecting in your business is going to be much like that. You’re going to feel compelled to talk to people about a subject because it’s your favorite topic. Those that share that interest are going to like listening — and talking about it! They’re prospects! They’re interested! They’re potential clients!
You may choose to advertise your product or service. This has more start-up costs to it, depending on where you advertise. Try and be market-specific! In other words, advertise to an audience most likely to be interested in your subject matter.
You can start getting news out about your product or service through your family and friends. They can do a lot of word of mouth advertising for you. The more people they talk to, the faster the word about your business gets around.
This is the hardest part of the business — getting enough people to know about what you’re doing. But once you know how to do it and you’ve started the machine rolling, this all becomes easier. You may end up with more clients than you know what to do with — a great situation to have!
There are a number of resources out there for you to review as you get started. The advice and information you can obtain may help you to avoid some of the more common mistakes. Every connection you make might lead you to a nest of prospects.
Home Based Opportunities
There are a few businesses that you can get up and running quickly if time is of the essence. If you’ve just lost a job or you can’t take the one you have much longer, here are a couple of fast start ideas.
1. Private Tutoring. To start this business, you would have to be qualified in at least one academic subject, have some teaching skills and experience (being a training instructor could qualify). It’s less demanding than full-time teaching and you don’t have to put up with the bureaucracy. It will undoubtedly be evening and (perhaps) weekend work, but you can charge some good fee depending on the subject.
2. Catering. If you like to cook, consider the catering business. If you have a good kitchen set-up and can cook large volumes well and have a few handy unusual, but tasty recipes, you can be become a local party favorite. Repeat business is the name of this game and you can charge per person for your catered meals or appetizers. Ethnic dishes are the in thing for parties these days and the more diversified you are, the better.
3. Computer consulting. If you are a programmer, this is certainly a job that can lend itself to contract labor, run out of your own home. Competition is heavy, but once you have a few clients, you will likely make an excellent living at something you’re good at and probably enjoy. The more diversified your experience, the more likely the calls coming in for your services. You will need to stay up on current technology, but most programmers do this naturally.
4. Arts & Crafts. If you have a propensity for things arts and craftsy, you should consider selling your goods for a living, part or full-time. If you love to paint, or sculpt, or make pottery or whatever, there is a lot of potential for you. Businesses buy lots of arts and crafts each year for their firms’ decorations or for sales contest prizes, convention awards and the like. If you are already doing this, you probably have studio space in your house plus some supplies to get going. Step it up to the next level!
Below are some other home-based business ideas for you.
* Dropshipping. This is really cool and if you are yet to get your way around it, our academy resources will be very useful to you.
* Freelancing. This cannot be overemphasized and it is one home-based business idea that is always frequently mentioned. It is so cool especially if you are dealing with niches you have passion for.
* Consulting. If you’ve been in a specific field for a length of time, you’ve likely built up an arsenal of knowledge about your subject. The more you know, the more you can offer any person or firm interested in breaking into, expanding or becoming more competent in this area. If your name is recognized, so much the better. Consultants can earn high hourly fees, expenses paid for.
* Writing. This is a one skill that can make one a fortune. Knowing how to put words, thoughts, ideas, stories, etc is really making some smart people good money without them, leaving their houses.
Home-based businesses are the chances of a lifetime for many of us. It’s the opportunity to be your own boss. This is not work without risk. Knowledge of how to run a business is also critical. That’s right!