My Top Entrepreneurial Ideas of 2011: Best Home Business Ideas

by J.Crawford on October 19, 2011

2011 was an interesting year for me and I was able to test several entrepreneurial ideas that I had been thinking about for some time.  Not just new businesses but also some business and financial principles that are personally relevent to me.  The path to building the best home business has been a game of trial and error for me, but the process has become much more productive as I move along.

I started my home business idea several years ago and my home business happens exclusively online.  Really I guess you could say it is an Internet business as it could surely not happen without the Internet.  The Internet business and a more traditional business working together is where I learned (through experience) first hand about  an entrepreneurial idea I had suspected was a solid financial principle as well.

Over the last several years I’ve slowly learned how to build a passive income online, in the past year or so this online income has grown to pay most of my bills and I’ve enjoyed the time freedom it allows me.  Granted it still takes work, but I do have a significant amount of control over how I spend my time, and I like that.  Who wouldn’t, right?

During the course of turning my online entrepreneurial venture into a reality I became quite detached from the traditionall business world and kind of missed working with people.  I wanted to start another business that would allow me to stay engaged with people and expose me to further opportuntities so I started a Farm Market here in my local community.

Just to clarify: If you want to create passive income, don’t start a farmers market!

Anyway, the Michigan farmers market that I started required some capital, not a lot, but some.  So I was able to borrow some from a friend and then I decided to invest some of my own money from my home business online.  This is where the learning came in.

I’ve decided to make it a personal financial principle of mine not to use income or capital fomr a passive income source to fund a non-passive income source.  It doesn’t fit when you have a passive income goal like I do.

There is always more to the story and I do believe the market will will do very well in the future and it did enable me to meet lots of interesting folks and it also exposed me to new opportunities.  Here are a few of my top entreprenuerial ideas of 2011:

  1. Keep passive income building or invest it in other passive income business ideas.
  2. Starting a business online was the smartest thing I’ve ever done.
  3. Always look for new opportunity, it is there.
  4. If you aren’t being exposed to new opportunities, then start a simple business.
  5. If you can outsource activities in an online business that is 90% passive Do it.

If you have been an entrepreneur for long you’ve likely experience your own lessons and a few of those have become building blocks in your entrepreneurial life.  What are They?

Share your wisdom, mistakes and successes you have encountered in building the best home business idea this year.

 

Thanks

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