A Good Business Idea? Home Based Business and Starting a Business.

by J.Crawford on January 30, 2009

A home based business could be the deciding factor for business success in the next few years.  Business ideas that can be starting from home or a home office have many benefits, obvious and otherwise.  Some business ideas that work well for home based businesses include service businesses like: cleaning, contracting,computer repair, accounting, law practice, and catering. These are just a few of the common businesses that work well as a home based business.

Home Based Business.

Home based business start ups have sharp benefits to traditional business models, most of which directly affect profitability and quality of life.  There are many tax benefits for home based businesses, usually not amounting to much, these tax benefits do count for improving your lifestyle.

Online Business Ideas.

While many businesses in the service industry are great candidates for a lucrative home based business, there are also many home business ideas that are more Internet based than home based.  Many people don’t realize that something as simple as a single website can be an online business and business ideas that use the Internet can also be a very profitable work from home option. Many people start a business with no money using web based business ideas.

Many people start blogs as a home business idea.  This is one simple way to earn extra money while doing something you enjoy.  Choosing a good topic for your site is paramount to earning significant income with a blog or website, especially if you intend to make money with advertising.  Online commerce is big today and only getting bigger.

Business Ideas for 2009.

Essentially all business ideas, whether they are a home based business or a store front business, have to solve a relevant problem or satisfy a common need.  You have to add value in order to make money and good business ideas add value.  Business ideas for 2009 need to solve problems relevant to 2009 or satisfy needs that exist currently.  One of the reason there are business cycles is because needs change.  Business ideas or entrepreneurs that don’t change with current needs or problems, don’t do well.  So if your going to start a small business, then its a good idea to get on board with change.  Online business ideas are no different in this sense, maybe even more so.

Finding a Small Business Idea to Start.

Finding the right small business idea to start can be difficult, especially for first time entrepreneurs.  Try to find a way to start a business around something you enjoy or an idea that includes a talent or passion you have.  Being genuinely interested in the industry you plan  to start a business in a great favor to yourself and will get you through tough financial times, should they come.  From my experience I would say most people over plan and don’t start soon enough.  Getting a business idea off the ground is a lot tougher than running a successful business.  Starting a business and creating momentum is a great strategy. Its impossible to predict the reaction of the marketplace or to determine the results of a business before they occur.  Get some results, analyse the results instead of playing chess with a make believe marketplace. It works, try it.

Business Planning.

Many people tend to think that if they invest more money or plan more carefully they have a better chance for success, I think that’s a bunch of bunk.  Most business don’t end up looking  a thing like they were originally intended.  A good business idea, a flexible plan, and an entrepreneur who is aware is a great mix for success.

Trying to do everything right does not make a business successful. Results do.  Know the results your after, focus on creating those results and don’t quit until you succeed in creating them. That formula always works.  A business has to make money if it is to stand a chance of success.  You may have heard “most businesses don’t make money for the first three years” Its complete crap.  If your business idea won’t make money for three years, its a bad idea. Find a different one.

Taking a different approach than 95% of the small business owners you know will actually increase your chances of success, since the same percentage will fail after five years.

Do you have some experience with starting a business? Share your thoughts about this article in the comments.

{ 3 comments… read them below or add one }

admin February 26, 2010 at 7:01 pm

Thanks Rick, your comment is one year old. Huh. I miss some here and there. This is neat though, How is your business different from when you left this comments? If you ‘d be interested in sharing, I’ll set you up with some publicity, the free kind.

Thanks

admin February 22, 2009 at 9:39 pm

Thanks Rick, and thanks for the idea. I agree, there are enough hats the average small business owner is expected to wear and consulting on internet marketing is a great idea. I think, like you mentioned it is an idea with a large income potential long term and that really makes it a worthwhile idea.

Rick February 20, 2009 at 12:49 am

Nice article and good information. I think that one of the easiest and least expensive ways to start an online business would be in the area of information marketing and consultation. If you have an interest in a topic is it not to difficult to create a product and market that to your specific niche. If you are versed in internet marketing you could also offer your services to local businesses as a consultant. Neither one of these would cost much to get started and could potentially be a 6 figure business.

Rick’s last blog post..How Do You Make Money Online?

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