Profitable Ideas for Launching a Home Based Business!
Hi Everyone! Today’s post touches base on a topic very dear to my heart. Home Based Businesses are awesome and are the answer to many people looking for some extra income each month. Now I could list dozens of businesses that you could start. But I want to approach this from a different perspective. Read On…
Every day I get emails and calls from people asking me “hey, I want to get a part-time business going and make some extra cash each month”. This is probably a goal we all would like to accomplish. Well I am here to tell you its not only possible but I have done this many times over the years for both myself and clients. So here are some things to consider:
1) Jobs people hate! Ever thought about jobs you could do yourself but hate to accomplish? Or that you can do for Free? Well a lot of people don’t want the hassle and so they will pay someone to do it.
You can offer to do these “jobs” for people that they don’t know how to do or don’t want to worry about. Its surprising the list of things that come up in a day. The secret that some motivational speakers promote is taking an idea and making an activity easy for someone.
When I got sick, I remember being in a panic to figure out what was wrong with me and what steps I needed to recover from a stroke. I spent hours on Google researching ( and it was tough with limited vision) my blood disorder and stroke recovery. I looked all over the world and amassed a great deal of info. Now what’s amazing was when I shared this with people, 90% said they would never do that kind of work. But they wanted the results. IDEA > Launching a research business on your computer from your kitchen table. Totally doable and I know personally there is a big demand. Especially for new techniques and recovery techniques that are different.
2) No need to beg Mom or Dad or even friends for money! The reality today is that you can start many businesses from home or even out of a coffee shop for next to nothing in costs. Recent surveys of home based businesses all over Canada and the US found that the majority of businesses started with $1000 or less. Sure you can do more with more $$$ but to get started, you don’t need to. Its called a Lean Startup! :ooh around for free Wi-Fi and you are good to go.
Start NOW and whenever possible, start cheap. If you need funding, there are many different ways to get started. Just in the last year or two we have seen the web sites Kickstarter.com and Indiegogo.com that allow people to raise money through crowd funding. The is just one technique that people are trying for worthy projects. And there is no cost to upload a project.
When I say start NOW, I mean it! We tend to wait until all the ducks are lined up and things tweaked. But the winners today start with an idea, flush it out in the am and launch that night. Literally. Don’t wait for a full bore website, business cards etc. If you have a good idea, then run with it. Immediately!
3) Solve problems for people…and come up with a fix. Most people start businesses based on a variety of reasons. But few think about what problem they are solving for the customer. We tend to create products and services then look to see if there is a market. So here is one approach – go into 10 local businesses and ask them what causes them the most grief. What stuff is a pain in the butt in their business. Maybe something they hate to do or can’t find the time to do. Look for problems and list as many as you can. Then turnaround and SOLVE their problem.
4) Sit back one day or night with your spouse or family and list as many businesses in your community….that don’t exist. Try to list as many as you can. Don’t just think standard businesses…think about innovative new businesses that you could launch. Now think about how you might offer this business to people outside your area via the internet. In the “old days” you setup a website and were open for business. Today you can launch a website in minutes with a $5 domain and hosting for less that $4 a month. But lets look at all the social media tools you can use. Facebook (personal and business pages), Twitter, LinkedIn, Pinterest, Google+ and more. All easy to setup and….free.
So what sort of ideas come to mind?
– Consider the research idea above but target specific ailments or niche areas that are very specific.
– How about custom packaging of products for mail / shipping? Who in town could you go to in order to get an object packaged for delivery across Canada / USA or the rest of the world.
– Writing a basic ebook or small online course on promoting a business online. Information on how to do this is all available for free online. Simply reword, repackage and launch something to the world for $9.95 a month (use Paypal). This is done daily and their are thousands making a living doing this.
– Write a guidebook for your community restaurants and touristy spots and publish this guide online for $5 each. Yes, you can get a lot of this free if you look, but people like convenience and don’t mind spending $5 + shipping. Sell 100 a month and you just popped $500 in your pocket. Thats a car payment for many people.
– People struggle daily with technology…especially seniors and people who didn’t grow up with it. So what products or items could you make that would appeal to people with interests in a new phone and want to learn to Text, Send emails or share a photo. Yes, there are MILLIONS of items on the market for this. But I know I can walk around the community and list over 300 people I know who struggle with these challenges and would not know where to start. Heck, if all you did was post your “mini guide for grandpa and gramma on how to text the grandkids”, you should be able to sell these online. Put a cool cover on the book or article (can be a PDF download ) and you are ready to go.
There are literally hundreds of ways to profit each month. But don’t think like met people and start with a list of known businesses. Maybe you can come up with an idea that no one is promoting. But the key to success is to look at pain points for people and provide a solution to a problem they have. You never hear of anyone starting by listing day to day problems. Its your job to do this and then provide a SOLUTION.
More post on this topic to come!
ps. Ask your friends, family, FB / Twitter buddies what they hate doing on a weekly or daily basis. Ask them if you developed a solution for $5, would they be willing to pay? See what you get for responses. Really try hard to dig down to their problems, fears and things that irk them. And then discuss a solution. You will be surprised what people all over are willing to pay.