The million dollar question is: Is it possible to create a profitable business from home with little investment of time and money? The idea of developing a home business is based on the need to find a source of extra income, possibly in the future can become your main source of income.
A profitable business is one where profits exceed 60%, 80% and up to 100% or more the value of the investment. Then for a business to have the capacity to provide a significant source of income, also you require considerable investment. The steps below are so you can develop profitable business ideas from home, that do not require much investment at first.
Identify your reasons
Answer why you want to start your own business is the first thing you should do. Want to be your own boss ?, Do you want to earn extra money ?, you not want to depend on schedules? Be careful because for example with your own business you will not have just one boss but each one of your customers will be one of your bosses.
Analyze your personality
Do you have the qualities to have my own business? Unfortunately not all have it, luck is however, that these characteristics can be learned. Ask yourself the following questions: Do you have what it takes to be a leader of a business ?, do you like making decisions ?, do you like competing ?, you have the power of self-discipline?
Acknowledge your skills
It is ideal start with an activity that you like or you highlights and where you have some experience. You will be who do the work, and what better to bet on an activity in which you function well and safely, or in which you want to invest time and money to learn.
Define a clear concept
Declares a unique business concept. That is, a business must have spirit, have something unique that makes it what it is. When making a business from home, despite being smaller, the same idea applies, you must define your business concept. It is also essential to explain what the business is dedicated. For example, say that there is a company called Artec. What sounds like the name? It could be a business education, technical services or items of art, right? That is, when doing business at home, explains below the name of your business what he does. This applies, for example through a slogan.
Evaluates the business idea
Write on paper brainstorm of those activities that you can perform and which you can consider in your local market or online, depending on the activity. Tantea if your business idea is feasible. Describes the product or service you’re selling, if you have competition or not. Analyze your market, assesses the needs and desires of your potential consumers. Set the price of your product or service.
With each activity you wrote do the following: Investment value of materials or costs and the percentage of profitability. For example, investment for the creation or implementation of an X product is $ 10 and sell it at $ 18, so the yield is 80%. Select only those that have a return equal to or greater than 50% to start working on these profitable businesses from home.
Before making plans
The best advice to start a business from home, the idea is to plan, strategies, costs, presentation, location and prices, before acting rashly, and having to give smacking of drowned as they are presenting problems. What you will use name, what legal form you will use or whether you will conduct your business personally. What licenses and permits need. How will protect your business from theft, fraud or’ll protect your business idea because you might need to register a trademark.
This is costly in terms of money, resources and time. Therefore, it is always better to have a business plan, which will indicate whether the business is attractive, if your business is profitable, and what strategies to follow to develop a successful business.
Not necessarily have to be products to sell, for example if you love writing, you can for example written work for others, translations or if internet can sign up pages Freelance where you do online activities and get paid for your work hours from $ 1 to $ 20 dollars an hour or more.