Starting a home business is an adventure, full of exciting twists and turns – and challenging detours, too. It can take you to places you never dreamed. It can make your dreams come true. Running your own home business can teach you things about yourself you may never learn while working for others – how creative and resourceful you are, how much you would like to make a difference in the world. If you do the research and take time to learn the essentials, a home business can enrich your life in many wonderful and sometimes surprising ways. All it takes is a marketable product or service, boundless enthusiasm, enduring commitment, and a good solid plan of action. It also helps to have a big vision for your small home-based business. And let’s not forget self-discipline – one of the most common reasons a home business fails is a lack of self-discipline. It’s not easy operating a demanding business steps away from the hub of family activity and countless distractions.
Home Business Ideas: Innovation and Entrepreneurship
Preeminent business philosopher, Peter F. Drucker wrote, “Entrepreneurs innovate. Innovation is the specific instrument of entrepreneurship. It is the act that endows resources with a new capacity to create wealth. Innovation, indeed, creates a resource. There is no such thing as a “resource” until man finds a use for something in nature and thus endows it with economic value.” At another point in the narrative about innovation Mr. Drucker states that “There is no greater resource in an economy than purchasing power. But purchasing power is the creation of the innovating entrepreneur.” Focus your vision on opportunity. Check out the demographics and come up with something new – social or technical – or re-invent something old. It’s all about innovation, a new take on a traditional service, a brand new product that makes life easier, a specialty service that appeals to a small but growing niche market.
The number of home-based businesses is growing by leaps and bounds every year. The entrepreneurial spirit runs deep, just look to the phenomenal success of eBay. Many people derive great personal satisfaction from working at home. After all home is our sanctuary, we feel safe in our homes and free to be ourselves. We are more creative when we are comfortable. The Internet and computers have made it possible for us to build wealth sitting at home in our pajamas or dressed to the nines, it’s our choice when we work from home. Whether we work from a fancy fully equipped home office or a cubbyhole in the kitchen pantry, a home business can be anything we want it to be. And like traditional business, there is no magic ‘get rich quick’ scheme. There is only dedication. Perseverance and persistence are key requirements on the road to success. The winning results are always worth the extra effort you put into your home business.
There are hundreds of great ideas for home businesses. Brainstorm your idea with friends and associates, people whose advice you respect. Utilize your existing talents and skills and acquire the education you need to be expert. If you love cooking take gourmet cooking courses -perhaps there’s a market for home delivery of gourmet food in your area. Learn about your competition, can you compete with them on the same level, or carve out your own specialized niche in the catering business. Love animals and have a country property with acreage? Dog parks and doggy camps, dog and cat daycare, and overnight pet boarding is a booming business. Are you fit and like working out? If you have the space and either already have or can invest in some exercise equipment, open an exclusive home gym. Become a Personal Trainer. Bookkeeping, Freelance Writer, Seamstress, Internet Marketer, the list of home business ideas is almost endless. A home business should ideally be built around a product or service you know well. You will be successful if you expect success, and know your product or service inside out. Believe there is a need for your product or service, and believe in yourself.
Marketing: How to Win Customers and Keep Them Coming Back
Dr. Michael LeBoeuf, author of numerous books, including ‘How to Win Customers and Keep Them for Life’ and ‘Working Smart’ wrote, “There is absolutely no substitute for an honest, unshakeable, enthusiastic belief that the products and services you offer are the best available anywhere. Couple that with a sincere passion for helping people and you have an unbeatable combination for creating and keeping customers. People are persuaded more by attitude than logic for two basic reasons that you should always keep in mind as you deal with customers or with people in general, people are ruled by their emotions and emotions are contagious. In the final analysis, persuasion (winning customers) isn’t converting people to your way of thinking. It’s converting people to your way of feeling and believing.”
It’s not enough to be excited about your business. Knowing how to generate enthusiasm in others for your product or service is the key component to being successful in any business. You have to find a market. That means developing an effective marketing strategy. There is a wealth of free information readily available on the Internet and in the library. Marketing geniuses like Brian Tracy, Jay Abraham, Dan Kennedy, and other popular ‘gurus’ have websites rich with wisdom and inspiration. Seek out books, magazines, and attend seminars about marketing. It’s amazing how many sources of expert guidance you will find – all brimful of how-to information from people who have traveled the same road and established successful home-based businesses. Talk to business people in your community – whether they are home-based, a retail store, real estate professional, or other small business, their feedback will be invaluable to you. Effective marketing is prerequisite to selling everything, including your credibility. Making the commitment to educate yourself is essential to your long-term success. Learning from the experts gives you a good head start, and helps you avoid some of the inevitable potholes you’ll encounter along the way.
Recommended Reading
For timeless business advice these step-by-step how-to guides, time management, and motivational tools, are excellent resources. Here’s to your success!
