Things You'll Need:
- something you love to do
- something you’re good at
- online internet connection
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Step 1
The anytime/anywhere availability of information and communications makes it possible for you to have a home based business, either full or part-time, that allows you to stay home and earn money. Research proves success with home based work extends far beyond hobbies and is not limited to any age group. What are your skills? What are you interests? Which of the following is something you can do or something you’d like to learn to do?
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Step 2
Services are the best bet for a home base because they require the least amount of space. Nationally, professions that work well from home are legal services with a 98% success rate, management consulting at 65% (compared to 30% working from a non-home base) and engineering, architecture and all areas of accounting with success rates at 60%. All success rates refer to businesses five years or older.
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Step 3
Products can be made from home as well and once a business is founded in a home, it rarely moves out. If your product doesn’t require a large amount of space to be produced in and has an efficient and flexible assembly process, it might work in a home base. In manufacturing, the lower overhead gives a home base an advantage. Home base startups have a success rate of 79% compared to 54% for non-home based small businesses.
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Step 4
Home based services or production can piggyback on seasonal outsourcing from larger businesses. This means the larger business doesn’t have to take on and lay off seasonal workers. You can research and develop relationships with other, related businesses online.
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Step 5
Location is not a factor in the eventual success or failure of any these businesses. The Internet greatly lessens the importance of location. What is most important is whether you can sell enough of your good or services to survive and that takes communication and marketing skills.
