Overworked, Overstressed, Too Busy to Get Organized – How to Transform a Growing Business

I can see it coming. Maybe I’m developing a sixth sense for it. I run an operations management business and I regularly get calls from business owners saying; “I need your help. My business is taking off and I feel like I’m losing control”. The first question I ask always seems to be the toughest for them… When can we get together to talk? I’ve learned to anticipate that they will cancel one or two appointments before we’re actually able to meet. I plan for our first meeting to be away from their office so I am able to get their full attention.

Their business has typically been operating for three to five years, which means their business model is working for them and has begun gaining traction. They’ve passed the infant mortality point where many new businesses fail and have had some taste of success. They’re now at the point where they’re starting to think about taking their business to the next growth plateau.

The business operates in a mostly ad hoc mode. Up to this point they’ve managed to keep things on track by shear force. They’re beginning to realize that they can’t do everything themselves and they continue to hold things close because they feel they have to maintain control by personally making every decision. They’re not willing to delegate anything but the most trivial tasks. “My entire life is tied up in this business and it’s succeeding because of the energy I put into it.” They have in fact become the operations infrastructure of their business and they’re beginning to realize that they have now become the primary constraint on the growth of their business. Take a vacation, a sick day, a coffee break… Not likely!

Transforming these businesses requires an objective look at two areas: their organization and their operations. I start slowly by trying to find some activities the owner is willing to offload to others.

Businesses at this point in their development are usually organized on the “Conestoga Model”, meaning their organization chart looks like a wagon wheel. It’s a person centric organization model where the owner has become the hub of the wheel with all of the other functions circling around the hub. They may have made some attempt to change things themselves but I often find they were unsuccessful because they delegated responsibility without being willing to also delegate the authority to do the job.

The next step I take with clients in these situations is to begin transforming their organization to a more traditional hierarchical model. This is a difficult step for them because it means they have to be willing to delegate the authority to complete tasks along with the responsibility for completing them.

Completing the organizational change requires more than simply creating an organization chart. The new organization has to be designed to meet the businesses needs and to make best use of the resources at hand. Each block on the organization chart should have a defined mission statement and a set of goals. Owners who are already over burdened often revolt at the thought of doing all of this “useless paperwork”. “We have real work to do.” This a great place to recommend they bring in their new first line managers or supervisors to help and it also lets these people take ownership of their new roles. This is the point where I usually have to expand my role from working with the owner to working with their staff. Including the first level managers and supervisors in these activities has an amazing effect on the culture of most businesses once the staff realizes that the owner is saying I trust you and am relying on you to help grow my business. Kicking off the new organization can be difficult. “You mean I work for her now? But I used to work for the owner.” You have to plan to hold a lot of hands and mend some hurt feelings as you go through this exercise.

After the organization is in place you need to define a sustaining operations infrastructure for the business. You do this by assessing the businesses operations, identifying weak areas needing definition or improvement. I begin this by formalizing the workflows of the business. Remember, the operations infrastructure has to be able to support the restructured business in the future. I divide the operations infrastructure into the nine areas described below. Each area controls a major workflow through the business so, by definition, each infrastructure area crosses organizational boundaries. Don’t, for instance, limit the sales and marketing infrastructure to the sales and marketing department.

CUSTOMER SATISFACTION: The customer satisfaction infrastructure has to be designed as an integral part of the business operations and not simply included like a facade over the front door. Every employee needs to learn their customer satisfaction role. The customer satisfaction infrastructure defines the role of functions such as product support, requirements definition, and quality assurance.

PRODUCTION/SERVICES: The production/services infrastructure defines the methods that will be used for the delivery of all products and services and ensure that this is being done in a safe, compliant, and consistent manner capable of bringing all products and services fully to market.

INFORMATION MANAGEMENT: It would be a tremendous understatement to say that all businesses today are information intensive. The information management infrastructure includes the IT systems but can be much wider in scope.The information management infrastructure defines the methods for protecting all business data, the electronic tools that form the backbone of the business, printed material and all media that is used to support the business. All personal privacy and security controls need to be addresses here.

SALES AND MARKETING: The sales and marketing infrastructure supports the businesses primary goal; to sell products and make a profit. It defines the methods used for everything from pricing and lead flow needed to support the sales pipeline to the methods used to develop new products and markets including the use of competitive and strategic analysis as assessment tools.

ORGANIZATIONAL: The definition of the organizational infrastructure includes the formal and informal structure of the business. It includes the organization chart that forms the command and control structure plus the informal structure that becomes the culture of the business.

PERSONNEL: The personnel infrastructure defines the working relationship between the business and its employees and between employees including the roles and authority of the management team. It defines the benefit strategy and compensation plan plus the procedures for hiring, firing and everything in between.

FINANCIAL OPERATIONS: The financial operations infrastructure forms the framework for all financial operations of the business. It defines all financial authority and controls including AP/AR, payroll, cost account and project management, plus the definition of methods to be used for budgeting and projections.

LEGAL OPERATIONS: The legal operations infrastructure forms the framework for all legal operations of the business. It defines all legal authority, professional licensing and controls needed to support the business on a continuing basis. It defines all activities used to protect the business from legal risk and liabilities and to ensure the compliant operation of the business.

INSTITUTIONALIZED PROCESSES: The institutionalized processes infrastructure includes the definition of all formalized policies, procedures and methods that guide the businesses operations. Methods such as ISO, CMMI, Six Sigma, Enterprise Risk Management (ERM), Lean or Quality Management Systems (QMS) where the business needs certification to qualify for a market driven process are defined.

It is important that the infrastructure areas be documented but this doesn’t mean it has to be a voluminous set of policies and procedures or that it has to be completed overnight. The infrastructure needs to be formalized to be effective and repeatable but applying the “Keep It Simple” approach works well here. Complex procedures don’t get read so plan to start light and build as needed in the future. After base lining each of the infrastructure areas (and training employees on their use) the final step is to establish a continuous process improvement program so that the infrastructure will continue to evolve along with the business.

The actions described in this article can be intense for a small business because it strikes at its culture. The cost of transitioning the business to support its next level of growth will be offset by the improved efficiency and through the resulting decrease in operations risk. It may not be an immediate goal of the owner but these steps are an excellent way to position the business for a future M&A event or to raise investment funds to support the additional growth.

3 Reasons Why Your Small Home Business Needs Home Based Business Insurance

It’s estimated that more than half of all small businesses in the U.S. are home based businesses. The Census Bureau estimates that there are over 27 million home based businesses as of 2007. This has certainly risen since the down turn in the economy when many people lost their jobs. This shift has given way to the small, home based business of today and tomorrow.

As an Independent Insurance Agent I run my business out of my home. The benefits are tremendous and technology allows more efficiency and productivity. I’m able to spend more quality time with my family instead of dead time on a commute to an office. I’m able to react to customer requests more quickly. And, I found out that I’m not alone. I meet so many people who manage their small businesses from their home, it’s fantastic.

But, there is a problem. Most of these at-home small businesses don’t have home based business insurance. I find there are three common reasons these entrepreneurs don’t have business insurance. These are also the three reason’s you need a home based business insurance policy.

    1. My Home Insurance Policy will cover me. It’s logical to think, since they own a home, somehow their home insurance company is going to cover any loss they may have. Unfortunately this is not the case. Most home insurance policies have a minimal amount of coverage for Business Property. So, if you have product, equipment, or supplies related to your business, at your home, there will be little or no coverage and, if the product, equipment, or supplies is away from your home then you’ll have even less coverage. Generally, you can increase this coverage through a special endorsement but most insurance companies won’t go higher than $10,000.

      Besides limited Business Property coverage, there is minimal coverage for Business Liability under your home hazard insurance policy. Imagine a product you produce injures someone after purchase. Your home policy will not cover this type of liability claim. Or, say the UPS driver is delivering supplies and material and gets injured on your property due to a hazard. Will you have coverage for this loss? No. Are you a Realtor? You may have limited coverage if you’re out showing homes and your buyer is injured or you cause property damage. We live in a risk filled world, with people who are more inclined to sue than not. It’s in your best interest to protect yourself by having the right home based business insurance.

    1. I’ve had my business at home for a long time and nothing has happened so I don’t think I need it. This is a common excuse I hear from many home based business owners. They don’t believe they face any risk. I once went to the home business of a seamstress. She had a room where she did alterations for her clients and she had cats. One of the cats was wearing a diaper because it was marking its territory in the house. What if the cats damaged a wedding dress or a stack of high end jeans waiting to be altered? Just because nothing has happened before doesn’t mean something won’t happen in the future. Give your clients assurance and confidence that you are a legitimate business by have the proper insurance.

  1. Business insurance is expensive and I don’t think I can afford it. This couldn’t be further from the truth. Many home based businesses just need a basic home based business insurance policy. These can run as little as $159 annually depending on the type of business and the amount of coverage you may need. Also, you might be losing business because you don’t have any business insurance. To bid on contracts you usually need to show a Certificate of Insurance proving a minimum level of coverage. Having the right business policy can put significant dollars in your pocket, many times more than the cost of the policy.

There you have it. 3 reasons why you need business insurance for your home based business. If you’re in Arizona feel free to call my office to ask any questions. If you’re in any other state, call an Independent Agent in your area for the right advice for your particular situation.

Top Tips On How to Start Your Own Home Based Internet Business and Work From Home

In the capitalist society we are today, nobody is comfortable being a mere employee who grabs only a percentage of what his/her employer earns. Everyone craves to start a lucrative business of their own. More and more management degree holders, and even novices, are raring to venture into the domain of independent business as the returns promise to be much higher. Today there are so many businesses which you can manage from the comforts of your home itself. Making money from home online is not difficult anymore. So, how to go about starting an easy work as a home business? Let us have a look on how this can be successfully accomplished.

First and foremost, we need to pen down a profound business plan as a blueprint to make things go around. Without that the very foundation of the business will not be proper as it involves the sensitive handling of money. If the monetary part goes wrong then nothing is going to be fruitful in the long run. Creating a proper legal structure and registering your organization with the respective authorities should be the next step. This aspect is very significant as it may land your company in shackles if not dealt with maturity. The next best thing is to launch an informative and engaging website for your business. In today’s socially networked world, everything goes around through the Internet. Without proper marketing and awareness creation strategies through the Internet, today’s businesses (especially legitimate work at home businesses) will not prosper at all. Therefore, as a business owner you need to hire a professional web developer to get it done for you as it requires the website to look professional, sassy, and attractive to the prospective clients.

In the initial stages of a business, the biggest challenge is to find investors. Who would be interested to fund a new business? Why should the potential investors consider you worth shelling money on, especially when you have your eyes set on work at home business opportunities? Obtaining a good amount of capital to kick-start the venture depends heavily on how clear you are about your business prospects. Try to pitch in your business plan in the edgiest way possible and this will essentially help you in impressing prospective investors. Hiring employees would be yet another concern. Which well-educated or experienced person would risk working with a company which is just starting up? Fresh graduates would not prefer that as they would not want to risk their career with something uncertain right in its beginning. As for experienced persons, they always look for better prospects, salaries, avenues, and stress-free work environments. A new company may not be able to ensure any of these as the capital would be less and work load might be concentrated on the small number of staff they must be having. Hence, it is quite an effort to convince potential employees to join your newly set up organization. One needs to put forward an impressive and alluring offer before the target individuals, in such a way that it tempts them to accept and take the ‘risk’. The offer should be couched in such a way that the employees should feel that there is something in it for them. Perhaps, impressive offers such as ‘work from home’ might attract them towards your online business.

One aspect of business which most of the newbie business men get wrong is the pricing. The right strategy needs to be chalked out for pricing the products accurately in such a way that your business does not end up in failure in the start-up stage itself. Choosing and appointing a skilled accountant to handle your finances is the best thing to do. As the owner, you may get involved with various other aspects of the business. This is when an accountant’s services would come into play. Conducting a market research prior to your plunge into the business is yet another thing that you must do. It will help you understand the market situation and what exactly the consumers desire.

Experts are of the opinion that marketing in today’s business environment is even more important than the business itself. Considering the returns that it brings about through the Internet in particular, one needs to set apart a lump sum amount for the marketing purpose in particular. Also, designing a precise marketing strategy with the help of experts will be beneficial for your company. An important aspect of promotions, publicity campaigns, etc. is to find a catchphrase or jingle that would catch the attention of customers. Slowly and steadily, the product will zoom itself to become a formidable brand in its own right, provided that the quality of the product is commendable. The catchphrase should sum up what exactly the product is all about; in a precise yet profound way.

Calculating a gross margin is significant in case of legitimate work at home businesses, or for that matter, any business. You should always make it a point to maintain a relatively high gross margin. Filing a patent should also be a consideration in case of a new business, be it home business through the internet or the conventional ones. It will reduce the chances of any possible accusations, allegations, and disputes in future. Also, introducing a new idea to the market is always a way to boom or find a place for your business in this busy world. Working from home policy is also an attractive factor for many of the new business as it can reduce considerable amount of costs in transportation. Setting up a formal office can create a big hole in your wallet. The best way to fetch easy work from home businesses is by setting up a home office. Also, the right insurance policy is essential for your company.

In today’s times, there are millions of ways to make money online. But, it is up to the budding entrepreneurs amongst us to capitalize on the right market, invest on the correct product and services, focus of the specific target customers and cajole investors who dare enough to shell out money on us. If you play the ‘getting it right’ game well, then it is certain that you and your business are going to be epic successes!

If you want more information and help on how to run a genuine home based business and you will find out how to get a free report and a free 7 day business boot camp.

Start-Up a Business by Buying a Business – ‘Real Life’ Practical Advice Shared

This is a quote from Ray Thomas who started his own business by buying an existing one. He chose to buy a franchise resale for reasons you are about to learn. These are his first wise words of advice and ones that are valuable to anyone thinking of buying a business as a way to start their own business, whether in the UK, North America or anywhere in the world.

“When buying a business, check and recheck your ‘due diligence’ there’s always something that you miss, something that’s not obviously apparent when you first start negotiations – don’t rush -take your time to understand the business you’re buying into”

Ray was very careful in his choice of business. He took the buying process step by step over a number of months. He would like to share this experience, captured in these key points with you.

• Choose a business that relates to your commercial experience and your own business skills
• Buying a franchise resale has a number of benefits. Two of these are the training and support you’ll receive from the franchisor; another is acquiring a going concern with an existing customer base
• Get the latest trading figures to see how the business is performing and whether any circumstances have changed since the business was valued for sale.
• Check the customer base to check the number of active and dormant accounts
• Examine the customer profile to see how the business is spread between accounts – if the business is reliant on one or two accounts, the loss of these accounts could dramatically damage your future income.
• If possible, agree a hand-over period in which the previous owner introduces you to the client base and explains the ‘back-office’ systems and day-to-day running of the business.
• Make a generous provision for working capital to cover running costs – and keep an extra financial contingency for the unexpected.

To understand Ray’s story here’s some interesting background. Ray trained as a mechanical engineer. This gave him a career long ability to discipline his thinking and develop his analytical and organisational abilities. His outgoing personality and communication skills came into play as he moved into sales. Over time, he became a regional manager with a multinational company, firstly looking after the South West then extended his territory responsibility across to Wales and up as far as Birmingham.

As demands increased without a commensurate increase in his salary package, Ray started to explore opportunities where he and his family would receive a greater return for his efforts by becoming his own boss. He investigated a number of different business avenues and narrowed the options down to franchising. The question was whether to start from scratch with a ‘virgin’ franchise territory or to buy an existing operation. The other question was which franchise to select

As Ray had experience of the motor trade, at one time being the sales manager of a chain of car dealerships, he examined a franchise involved with supplying garage workshops with tools and another specialising in bodywork repairs. He also explored franchises that were related to his more recent experience in the Health & Safety and Personal Protection Equipment (PPE) sector. Finally he chose a business-to-business (B2B) franchise that specialises in the supply and servicing of cleaning and hygiene products.

The franchise head office volunteered two start-up territories within reach of his Swindon base, and one resale franchise in Swindon his home town. Buying a resale franchise meant a higher investment but gave him a fully functioning business with an established clientele and an established reputation.

The Purchase Negotiation

Ray contacted the existing franchisee and spent a day with him to find out more about his territory and customers. The franchisee wanted the business to be transferred to someone who would manage the business well and look after his existing customer base. He’d decided to emigrate to France as part of his own life plan.

On closer inspection Ray saw the business had been losing sales and turnover had slumped in the last year. Another worrying aspect came to light. One customer was responsible for 50% of sales. If that customer withdrew his business the whole financial picture would change dramatically. These important factors demanded a revaluation and price renegotiation.

A revised price was agreed and on 26th April 2010 at the age of 60, Ray Thomas became a business owner. A new, exciting but challenging chapter in his life had begun.

Looking back, Ray would like to share these thoughts with you:

• Put away those rose-tinted glasses when buying a business. They’re always things that are not immediately evident when first learning about a business, not because they’ve been deliberately hidden but more to do with your unfamiliarity with the business operation.

• Try to identify the pitfalls – get expert help to review the company’s trading record and customer base.

• Examine in fine detail the basis of any ‘goodwill’ attributed to the company. Remember that ‘people buy people’. It’s potentially dangerous to buy a business that has been built mainly on the ‘personality’ of the incumbent owner. When the business changes hands, customers may not want to keep their business with you.

• Never rest on your laurels. Look for new business every day. It is inevitable that for one reason or other you’ll lose customers. You need to bring in fresh business to compensate for business lost.

• Make sure you ‘over-deliver’ on the quality of service you provide. You may not be able to compete on price these days – but an attentive, professional service not only wins business but builds customer loyalty. You’ve heard the saying that some people ‘know the price of everything but the value of nothing’. Due to cost pressures customers do switch to get a better financial deal but often return when they realise they’ve forfeited quality, reliability and product performance.

• Create a financial buffer to fund unexpected costs. For us, the rise in diesel prices has hit our van delivery costs. Unexpected events are another reason why you should grow your sales from existing customers and put time aside to contact and win new customers.

‘Success before Start-Up’ is a book everyone should read before starting their own business. It contains valuable advice from 18 different small business covering many of the most popular business options, from franchising to opening a retail shop, to offering trade or professional services or buying an existing business. The helpful advice is designed to stop you making the mistakes that cripple a new business given by people who want to share their experiences. The advice is relevant to any business wherever you are in the world as the principles are the same. The book is written in an easy to understand style. Importantly, the author has experience of setting up and running his own small business and speaks from experience – rather than just academic theory. Success before Start-Up is available from Amazon in paperback and Kindle.

Your Business Has Growth Potential, So Take It to Your Customers, Market It!

Gone are the days where a good product or service sells itself. Yes, one could argue that its not completely gone, but relying on this method will keep your business small, in fact you might be kicked out of business from fierce competitor. That is why marketing has become an essential part of sustaining and growing businesses in today’s world. Many people dislike selling, in fact; I personally do not enjoy selling. But if you enjoy what you do and know can see its impact in the lives of others, you will get off your backside with joy and go out there telling everyone about your business.

So if marketing is very important and every businessperson is doing it, how can one increase their chances of generating effective leads through marketing?

Talk to more people daily about the solutions you provide –

Don’t talk about what you do, but how your product/service solves a problem. Starting is always a daunting process, but remember as your do it daily, it gets easier and becomes more productive. So you can start with a small but targeted number of potential customers/Clients. For example, your end target may be to talk to at least 100 people everyday; you can start with 15 people, then increase or exceed your target number, as you get better. The more people you talk to about the help your business provides, the greater your chances of getting more clients.

Attend as many business and networking events as possible –

You should attend good and targeted networking events; or you can organize your own-targeted networking events. Business is about building relationships, networks and trust. People will most likely do business with someone they know and trust, and will also recommend their friends to your business due to the relationship they have built with you. Nonetheless, you should use your time wisely, so plan your week effective and make sure that attending networking events do not affect providing an efficient and timely product/service to your present client, because good service means repeat business. Therefore, plan to attend events during your idle/less busy hours and work at your busy hours. Keep it balanced!

Don’t spam people with selling –

I used to be part of many small business groups on Facebook, but have recently removed myself from these groups because of the constant selling. I know the owners/administrators of these group must have set up the groups for like-minded business people to network, post questions and share advice of everyday business issues, however, other members have messed it up with constant spamming. They don’t contribute, but just advertise and sell their products/services. The truth is, no one wants to be sold to all the time. So please build genuine business relationships, be a listener. When you attend business events, talk less about yourself business, rather ask questions. The good thing about asking questions is that it helps you understand the need of the individual and if you provide products/services that can help reduce or eliminate the problem, you stand a better chance of giving them that information and thus increasing your chances of a business relationship which then result in the individual buying your product or service. You also get word-of-mouth referrals via this medium.

Use free listing websites and cheap paid advertising –

There are free listing websites or cheap paid websites when you can advertise your business. i.e. Craigslist, Yell etc. Just type ‘free business listing websites’ and you will get the information required. Remember to only advertise solutions; don’t waffle all about your business, because your potential client is not looking to be impressed, but is looking for a product or service that will solve a problem or enhance productivity.

Use social media avenue to market your business –

Technologies have changed the way we do business today. The arrival of platforms like Facebook, Twitter, LinkedIn, YouTube etc. Has made business a lot easier and marketing cheaper. Using these mediums to advertise your business is a cheap way of getting leads, but don’t get carried away with the time spent on each platform. You must analyse your potential market and what platform they are mostly likely to be on and spend time there to market your business. Remember, no spamming, Build relationships, which then leads to business. If your potential customers are more on Facebook than twitter, then use more of Facebook and set the number of hours each day you will spend on each platform and try to measure the returns from each platform. I know this can sometimes be difficult, but getting these stats can help you strategically plan for your social media marketing and improve productivity. Remember, you can always outsource, if you lack time to do social media marketing yourself.

Join offline business groups and online business forums –

Offline business groups like Chamber of Commerce, Marketing consultant London group, small business groups, BNI etc. can help your business grow through referrals and networking. Joining online business forums give you a platform to network, participate in discussion, give advice and be known. As you continuously participate and provide advice, people in the group will see you as the expert and come to you when they need advice and most times, they will click on your profile to know more about you. As they do this, there is a greater chance of them clicking to your website and as you know the more visit to your website the more clients/customers you are likely to get. So when providing advice, know your subject very well and be clear and concise.

Contact Organisations about speaking at events –

Speaking at events give you more exposure. So browse through your local community website and check for upcoming events; call and ask to speak for free in some of the events. As you do free speaking at events and get known in your business, with time, you will be contacted for paid speaking. Remember when you speak at events; don’t sell your products/services on stage, else you lose your audience. You need to research your topic, be prepared to deliver the speech like your life depended on it and once you can capture the audience; they will come asking for your business details and how you can help them backstage at the close of event.

These are my few marketing tips for small businesses; larger corporation will use radio, TV & billboard advertising. But never mind, as your business grows, you will have sufficient funds to do large-scale advertising, but in the meantime don’t waste money on marketing, only do cost-effective marketing. But don’t stop marketing because that is the channel for business growth. All the best!!!

50 Legitimate Work From Home Business Ideas and Opportunities That You Can Start Easily

Starting a business from home can be a bit straining given all the different possible business ventures available. There are a lot of ideas for business from home nowadays and if you have limited resources, you might find yourself a little too confused at which to choose. Or if you already have an idea of what you want to offer, you might be hesitant because of some legal considerations that you need to think about.

The easiest way to choose what kind of business to start from home is to think about your basic strengths and assets. From this, you will be able to determine the kind of business from home that you want to start. You will also need to think about the pros and cons before you start your own home based business. It is okay if it takes you a lot of time to think about what business venture to choose. After all, it takes patience to achieve success.

If you are still a bit confused then let me give you a few business ideas that you could try.

Here are 50 legitimate works from home ideas that you can refer to if you are quite confused on where to begin.

Simple Services As A Home Based Business

This kind of business venture is most ideal for those that have lesser capital or to those that have none at all. This is usually just small scale and may require most of your time. For this type of home based business, you won’t need to utilize much space at home as well. Although there may be times that you will need to conduct your service at home like in babysitting or in pet care servicing.

Service-oriented businesses may range to the simple services that you could offer like babysitting to the more skilled type like painting or electrical repair services. Your initial clients are usually friends or neighbors. However, do not be bothered if business is not a mega success at the beginning. Once people see the quality of service that you offer and provide clients will just come faster than you expect.

This is the type of business venture that is easiest to start because of its nature. Basically, you won’t need much supplies or materials to start service-oriented businesses. Take note though that although this type of business venture requires low capital, it might require a lot of your time. In some cases, this may require you to provide services at the homes of clients.

Although this is way easier than the other business ventures that you can try, this also requires more effort on your part. Your performance will be the sole determining factor that will encourage people to hire your service. To develop your business, you will also need an endless supply of creativity to constantly improve the service that you provide. Your creativity is particularly handy when you want to start pet care or painting services.

Some services may also require an appropriate amount of training like computer knowledge when you want to start a bookkeeping service business. There is also training needed when you want to start a repair service business. However, in this type of business, you won’t need any license, though that may increase your probability of being hired.

If you are the type who has big plans in the future but doesn’t have a capital to invest in a home based business, this could also be the perfect business venture for you. It’s true that it may take time for this type of business to grow but trust me, couple with determination and the nest quality of service, your business might grow into a lot more in the future. Think that most huge and established businesses that offer these types of businesses started off as small-scale. This could be your stepping stone in making it big in the service oriented industry.

  1. Child care
  2. Elderly Care
  3. Home cleaning services
  4. Yard cleaning services
  5. Bookkeeping services
  6. Repair services
  7. Pet care services
  8. Painting Services

Knowledge and Expertise Based Business from Home

If you are the type with the skills and expertise that you want to share, then this is the type of business venture that you can start. Most people nowadays prefer to take up lessons in private, whether at your home or in their homes because it is more convenient for them. This is advisable for those that have more time to spare or for those that don’t have kids at home that could disrupt lessons or your work.

This is ideal for those with the talents and readily available instruments or materials needed for the business to start. This type of business may also require a lot of your time but if you share your skills that was your hobby before, starting this business could be stress relieving and enjoyable for you.

In this type of business, particularly with those that provide lessons and tutorials, you will need to invest a lot of patience because most of your clients will be young people. This is because most parents would want their kids to acquire talent while they are young. So besides your incredible skills, you will need a handful of patience as well. You will also need to make sure that you are able to communicate properly because that will be one the factors that might or might not motivate clients to hire your service.

This is also easy to start because you won’t need much material. You don’t have to worry much about legalities when starting this kind of business because this is usually small scale. However, if you are planning to venture into a food business, you will need to consider asking local authorities regarding permits that you will need to secure.

  1. Private tutorial
  2. Music Lessons
  3. Dance Lessons
  4. Arts Lessons
  5. Arts and Crafts
  6. Baking
  7. Catering Services
  8. Events Planner
  9. Networking
  10. Buy and Sell

Professional Services As A Work From Home Business

There are more and more professionals nowadays that prefer to work on their own rather than working for a company. It gives them more authority and gives them more opportunities to manage their time. This type of business mostly requires permits and some form of training and certification so you could start. However, if you are already a licensed professional and has established a good reputation for yourself already, all you need is just a little capital to invest for materials and supplies that you would need.

In starting a small business from home that offers professional services, you would usually need to spare a room or a space from your home that will serve as your office. This is because clients that seek your services will need to consult with you. Although there is a possibility for you to utilize online resources for some of the home based business that require professional services, most still need personal contact or conversation.

You will also need to invest in advertising since there is also an increase in the number of professionals that put up their own home based businesses. There may be a need for you to hire staff if you have some capital to spare. This will just lessen your trouble with filing and documentation but you can always just start off without any. This will just depend on how much you can afford to spend initially.

When it comes to legality issues, you will need to coordinate with local authorities regarding required permits that you need to secure. This is because some of the type of professional services that you would need to offer need certification. Good quality service will be your winning edge compared to your other competitors.

  1. Landscaping
  2. Counseling
  3. Interior Design
  4. Accounting Services
  5. Real Estate
  6. Plumbing Services
  7. Photography Services
  8. Family Clinic
  9. Tax preparer
  10. Sewing and Alterations

Home Based Businesses That Require Space For Putting Up Shop

If you have a room or space to spare at home, then this is the type of business venture that you can start. You don’t have to build a whole new establishment when starting this kind of business. Although in this type of business, you will need to make sure that you live within areas where people usually go by. This is because the type of business that you will put up needs to be visible to people for you to attract clients. You will also need to invest relatively a lot.

In this kind of business venture, you will also need to emphasize on your marketing strategies since this type of business requires the best marketing and advertising strategies to work. Furthermore, you may also need to invest on hiring staff since basically; you won’t be able to run this type of business all alone.

This kind of business is ideal for those that are willing and have available capital to invest. Although this business requires a lot of investments from you, this also is the type of business venture where you can see returns to your investments faster.

This is the type of business where you will need to utilize your connections more. When I say connections, it does not only refer to seeking possible clients but it also refers to possible suppliers that can help you establish your business. In putting up small scale shops, you need to make sure that you are able to locate suppliers that are affordable and efficient so that you don’t jeopardize the quality of service or products that you will offer once your business already operates.

Bear in mind that in putting up a shop, you will need to compete with a lot of different shops as well. These competitors may be home based and most will be shops that are already established. You will need to ensure that what you can offer is the best product of service. This is where good business planning is most needed.

You may need to secure legal documents when you want to start this type of business from home. It isn’t exactly that complicated because legal permits are particularly because your business has the tendency to attract people thus increasing the amount of traffic in your area. Also, it may require some permits to secure. But just like I mentioned, with the proper planning, this kind of business can return your investments faster than the others.

  1. Car wash
  2. Boutique
  3. Family Restaurant
  4. Laundry Shop
  5. Library or bookshop
  6. Auto Mechanic Shop
  7. Beauty Shop
  8. Flower Shop
  9. Small retail shop
  10. Pet shop
  11. Candy Shop
  12. Bed and Breakfast
  13. Party Needs Rental Services
  14. Food stand
  15. Spa and Saloon
  16. Woodcraft

Online Business Opportunities That You Can Do From Home

This type of business venture is one of the easiest to start if you have the skills, knowledge and resources. People rely on technology nowadays. Because of the change in the lifestyles of people today, they tend to rely on computers for their convenience. With this in mind, you will be able to know how to approach the field of online business wisely.

Although this is one of the easiest, it also may require some form of training especially of you plan to start a computer consultancy business. People don’t just need assistance but they also would need quality services. With all the demand for online jobs these days, you will also have more competitors to outshine making this type of business the most competitive among all.

You will only need a little capital to start this kind of business. Firstly, you will need your knowledge and skills with computers. You will also need a computer and a fast and reliable internet connection. People expect quick and efficient service so it is strongly advisable that you invest in good quality materials if you want your business to succeed.

You also won’t need to think much about legalities since there are only a few legal considerations when it comes to putting up online businesses. There are a lot of articles and books that you can check online for guidance and reference.

Computers are today’s main source of convenience. This makes it easier for you to market your service since most people nowadays own computers. Furthermore, besides being amazingly knowledgeable with computers, you will also need to be creative.

There are a lot of people that has skills and knowledge but only a few have fresh ideas and creative talents to offer. This should be your major marketing strategy to enhance the probability of attracting clients.

This type of business does not usually require you to do home service except for computer consultancy. That is why you will also need to educate yourself regarding accounting matters. This is with regard to the payments of your clients. Unlike with regular businesses where they deal with clients on a personal basis, you only deal with clients online. This makes it harder for you to ensure that your service is being paid. An adequate amount of reading and research will help you overcome this challenge.

  1. Online Shop
  2. Graphic Designing
  3. Print advertising shop
  4. Online tutorials
  5. Copy reading services
  6. Computer Consultancy

Home based businesses can range from service oriented business to those businesses that would require you space to put up a shop. There is also some businesses ideal for professionals and there are some businesses that can be started without much training from school.

There are a lot of ideas for starting a small business from home. It may be confusing but with the just the right amount of determination and planning, you will be able to know where to start. Your skills should always be your most important determining factor when you are unsure of what business venture to choose.

You can also think about the resources you have available. This will help you decide. In starting a small business from home, you need to make sure that you are fully prepared. This means that besides the brilliant ideas, you will also need careful planning and wise implementation.

Thinking about the legal considerations in starting your business should be part of the planning process. Although starting a home based business is practically easier to do than starting a huge business, you must still make sure to cover all the necessary requirements so you won’t encounter any problems in the future.

The decision to start a business from home could be one of the wisest things that you can do. It is one of the easiest types of business ventures yet it’s also one that requires a lot of determination and will. Since you are the only one that is solely responsible for all the decisions made in your business, you will also be the one most stressed and pressured. But don’t take this negatively. The nature of starting this type of business must be a challenge for you. It is very easy to start a business from home but it could also be very challenging.

After thinking about what type of business venture to go into, you must prepare yourself for all the possible risks and challenges that you might encounter. Planning is one thing, implementation is another thin. After you know how to start a business from home you must also think of ways on how to maintain that business. After all, being successful in a home based business is not determined on achieving your goals alone but it’s also on how you maintain that success.