Home Business Ideas and Opportunities

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Creating a Business Plan for your Home Business

When you are first determining what all is involved with having a home business, you must have some kind of loose plan, even if it is just the desire to have a business. It does take a bit more organization and planning to make it happen vs. imagining. Compare what your plan is presently and project all the way out to what you believe it should be or will be ‘someday’.


Since you will be the primary practitioner it is all about your abilities, ranging from attitude to skill level. Your qualifications and skills that you have acquired in your lifetime are the core resources you have to work with. They represent the foundation that you will build upon to create a profitable business.

It is important from a few different perspectives that you be confident in what you can bring to the table – especially when you are in new territory. New like starting a business of your own, new like learning to use technology, and even being in a different ‘field’ or niche than you have ever been in before.

So it may help you to do some exercises at the planning stage of developing a business, for the purpose of a self-assessment. Like an inventory, listing what exactly you have to work with from the get-go.

At the same time you can feel confident because you know you will learn more as you go along if you have an open-mind and are willing to work. As well, you can identify areas where you might consider some basic training or coaching if you don’t feel ‘up to speed’. Whatever it is it is best to get it out of the way so that it doesn’t become a stumbling block to your progress.

Exercise: Consider if you would hire you? Apply for a job in your own home business and write a resume and cover letter about why you are qualified for the job and are confident you are the candidate that should be chosen for the position. Promote yourself without ‘convincing’ behavior or ‘selling’.

If you have powerful terminology to describe examples of your assets such as for example proactive, timely, accurate, dependable/ reliable, flexible, learn quickly, efficient, passionate, honest, desire to succeed and enjoy helping others.

Enumerate your skills – mainly pertaining to the work at hand, and also life skills as a qualification. For example you were on a committee or participated in a ‘workgroup’ for a project; if hobbies or interests have led to using business skills, for example as club president or church secretary, then they are definitely relevant.

You maybe wouldn’t think of sports as having anything of value to business; but learning to work as part of a team, and striving for perfection by consistent practice are very important skills for business. Don’t forget you can also consider skills used in your home – balancing the budget, reconciling your checking account, “running the house”.

Final Exercise: Submit actual statistics or factual information to demonstrate where you have had actual on-the-job experience using those skills. Give the title of the position, but more importantly define all the duties that you performed. Give length of experience and special recognition, promotions, and accomplishments.


Always Working at Home

When Roger Bannister, after breaking the 4-minute mile, was interviewed, (1956) he was asked to describe how he did it. He replied: “It’s the ability to take more out of yourself than you’ve got.” That is one of those quotes that you want to always refer to in order to stay motivated.

always working

Can We Do It All? What a bizzy life to have a Day Job AND a Home Business, (not to mention family responsibilities). However sacrifices may be necessary, because it may be critical to have more than one source of income; AND it may just be a good idea (multiple streams of income) to make some extra money.

There are many different motivations for people to want to start their own business. For whatever reason, if they are willing to work hard, then they can have whatever level of involvement they want in their home business, or at least that which is acceptable and feasible.

We can only do so much with the number of hours we have in a day! However, one really cool thing about working at home is it is not limited to just day time (as in a “9 to 5” Day Job). You can work at night if you want or need to. We are on a 24-hour clock – not an 8-hour clock so we have plenty of time that is flexible.

If you are lucky enough to work at home full-time, you can be productive at the time that is best for you. You can stagger your hours so you don’t get in a dreaded rut (like going to the day job every day year after year). You can have your time go whatever way you want to, as long as you get your work done and it is a priority. You don’t ‘watch the clock’ when you are really busy and having fun!

Particularly if you are in a sales-based business, some days there is more business than others. So sometimes you can take it easier. Also after you get your systems developed for your home business and work out an organizational plan to manage your days and nights, things will go faster. Always in the beginning everything is harder until we get acclimated. Then it becomes more or less routine. What we do will become ‘second nature’ (natural) so there won’t be as much stress about functioning at a level that will produce success; and at the same time allow us to manage our lives in a pleasant, positive way.


New Home Business – Find Out What People Want and Give It to Them!

In planning your new home business, are you trying to figure out what type of products or programs you would want to sell, or service you would provide? There are many things to consider in this regard of course but one theory is that you should find a market and then get what they are looking for and provide it to them.

find the market!

This really makes so much more sense than what most inexperienced people might figure. They likely would pick something they themselves like or buy for various reasons – and that can make sense on several levels as well. However the crux of the matter is that we might not be atypical and something we like so much may not have much appeal to anyone else. So it may become an atmosphere where you try to convince people that they want or need what you have. This is an uphill battle when you compare it to just simply providing what people already want or know they need.

If you decide you want to sell tangible products, for example, it might seem like a no-brainer that everybody wants mobile devices today – smart phones, etc.. If you decide that is the market you want to work in, then you will have other things to consider to find out if this would be the correct decision for your business.

Thankfully with online business it is usually never necessary to have ‘inventory’ or purchase things for yourself in order to sell them. ‘Drop-shipping’ works very well for the Internet as it has for decades before with direct marketing (mail/phone ordering).

One would just need to align or affiliate themselves with the various manufacturer/distributors for which they would want to be an independent distributor, contractor, or consultant. Maybe they would have a way to cover all levels in that market – for example to include costs that are low-budget, mid-range, and super opulent.

The Internet search engines would provide the perfect medium to research the companies and find out all the particulars that are important to your decision-making process and of course for your business in the long-run. Every website that you might link to from the search results would likely have ‘contact’ or ‘support’ information so that you could ask questions directly or request further details from each company.

It might work real well to create a spreadsheet or some kind of table (grids) document so that you could visually compare all the various things about the companies and products – the product features and cost, and the company’s compensation plan/commission structure, etc.

Remember to consider the ‘multiple streams of income’ concept for your business – maybe consider having some tangible products, possibly some programs where you can make money for referrals, and also provide some service or be a conduit to a service for your clients (in the context of consulting).

Remember to find out what it is that is ‘all the rage’ in each category and than find something that you can provide to people who are already looking for what you have! They will be glad they found you!

Home Business Ideas and Opportunities

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