Most Successful Home-Based Businesses
To help you with starting your small business from home, we asked entrepreneurs and business leaders for their best tips. From e-courses in your area of expertise to home decor, these ideas can help you discover the best small business to start and run from your home!
Here are 10 great ideas for small businesses to start and run from home:
- Local Crafted Jewelry and Accessories
- Solve a Niche Pain Point
- Create a Necessity Product
- E-Courses in Your Area of Expertise
- Focus on Something You Are Excited About
- Freelance Writer
- Refurbishing Furniture
- Any eCommerce Business
- Home Decor
- Align Your Talents, Resources, and Priorities
Local Crafted Jewelry and Accessories
With so many people working remotely, it seems like you can run any business from the comfort of your own home! Of course, before starting a business you should make sure that you are fully invested and skilled in the vertical you are planning to move into. With that said, there is so much opportunity and demand for locally crafted and sourced clothing, jewelry, and accessories.
-Vanessa Molica, The Lash Professional
Solve a Niche Pain Point
One of the encouraging lessons 2020 taught us was that businesses can effectively be created, lead, and thrive all while working from home. The best small business is one that solves a pain point for a specific segment of people. If you have a passion for a product or solution that you know will truly help someone else, it’s a good business to start.
-Jenn Christie, Markitors
Create a Necessity Product
If you’re hoping to run a business remotely, I believe that the pandemic has helped us prove that we can work from home with a level of productivity that was never before imagined. So, when looking at opportunities for remote companies, your options are almost endless. However, if you want to reach as many consumers as possible, find a product that is a necessity. Then, market it with innovative, creative strategies. Many people make random purchases when shopping in person, but consumers are much more likely to make their essential purchases from a trusted source.
-Heidi Robinson, Because Market
E-Courses in Your Area of Expertise
A great small business to run from home as a female is to develop an e-course that offers knowledge in your area of expertise. What are your best skills? Ask 10 of your closest friends or colleagues about what they would come to you for advice about - and develop a course to share your knowledge. There are some great courses to take on how to do this effectively.
-Ineke McMahon, P2P Learning and Development
Focus on Something You Are Excited About
The best type of business to start and run from home is any business that you’re passionate about! Women are experts in balancing passion, family, and work. Focus on something that you
are excited about. because you’ll likely be working nights and weekends as an entrepreneur. Try to focus on starting something that won’t require you to go into debt (or at least just very little debt) to get it off the ground.
-Niki Ramirez, HR Answers
You should become a freelance writer. I have run a freelance business from my home for seven years. This is one business that doesn’t require any capital. Start a website. Have a static page advertising your freelance writing services. Companies needing freelancers will find you in two ways. First, they’ll find the articles you write on your website and seek your writing services for themselves. Many companies outsource writing needs. Next, by having a static "Freelancer For Hire" page on your website, companies needing freelancers can find you since it’s easy for static pages to be indexed by Google. There is no need to go through an agency and give them a share of your profits. Proper search engine optimization will help your pages rank well and companies will seek you out.
-Janice Wald, Mostly Blogging
Currently, I have a side-hustle of refurbishing furniture! I find old, quality-made pieces on the side of the road or at thrift stores, and I turn them into stylish staples for the home. It’s great because I can do it all in my garage. I’m home whenever my kids need me (when I’m not working my other day job), and people pay good money for quality furniture. Right now I’m just doing it by word of mouth and averaging $500-$1000 a month. I don’t think I want to make it any bigger. I love the creative outlet that it is, and I wouldn’t want to add pressure to myself. But if I were to turn it into a small, full-time business, it definitely seems like there’s a market for it.
-Alison Pearson, Hal Waldman, and Associates
Any eCommerce Business
One of the best options to start a small business from home is any kind of e-commerce business. That will give you the flexibility of owning your schedule and working in the industry you want. Having a storefront in a marketplace or building your own website is easy, multiple platforms are guiding you to do it on your own. Another advantage of e-commerce is the low operating cost that reduces upfront costs as a barrier to entry.
-Lucina Zazueta, Bumkins
If you have an eye for home decor items, this is a fun business to run from home! You can either produce your own stuff, search for local providers or ship unique products from producers. Open an online shop and create a blog around home decor, it will help you to market your products. Write with passion. The only thing you need then is some storage space at your home and an affordable shipping provider.
-Nina Król, Zety
Align Your Talents, Resources, and Priorities
The best small business to run from home is the one that highlights your talents, resources, and priorities. For example, someone with young children might look for a business that can accommodate varying days and hours of work without jeopardizing business operations. If you live in a more remote area, and the business you’re considering relies on robust technology, you may have some extra work to do to ensure you can provide and maintain reliable internet and support services. Think about what works best with all the considerations in your life, and that will be the best small business for you.
-Colleen McManus, Senior HR Executive, and Consultant
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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.