Starting or Operating A Home Business
Whether you’re about to start a home business or currently running one, we’ve got similarities that the rest of the world lacks.
We’re enthusiastic, excited, passionate.
We’re exhausted, fed up, frustrated.
We’re waiting for our next check (because we either need it or because we just love to get them), we’re dreaming of the future, we’re wondering…
"How To Take This Home Business to the Next Level?"
Let’s first define the difference between home business and small business.
“…starting a home business or currently running one – after 13 years away from corporate life, I’m ready to start talking…” –Laura Childs Jun 10 2007
Home business is a business that you not only operate from your home but that you, (or you and your spouse or child) are operating. Often referred to as SOHO (singly operated home office).
Small business on the other hand is usually operated outside of the home (at least partially). Small business will have an employee or more, even if they are virtual assistants (people who work for you, connected only through online communication).
Virtual assistants – to answer your question – are freelancers. They often work for a number of entrepreneurs or small business owners. Most of them, in fact, are running their own home business.
The most common home businesses are contract employees, hobbyists and artists, and the new age, fresh-idea, entrepreneurs (non-traditional and most often internet related).
Started for a variety of reasons, these businesses are usually launched based on past work experience or as financial expressions of a hobby.
Home business – started, managed, and with a strong enough following often grows into a small business.
According to U.S. Census Bureau (year end 2004):
- nearly 20 million US citizens were running home businesses,
- nearly one million new businesses without payrolls were registered,
- home business made up over 70% of America’s business.
The Online Home Business
Although I don’t have current statistics on this, I am hunting some down for you, so stay tuned. However, due to my own personal work and social network online I am well aware of the huge interest, success, and desire to run a business, from home, online.
There are as many ways to accomplish this as there are ideas from home business.
Most common and least risky are offering your services on a freelance basis, much like a virtual assistant above. Work is obtained through a number of freelance opportunity websites, or through personal branding (your own website), and/or through the new social networking websites. Check freelance opportunities for writers, programmers, designers, etc. and you’ll find both a number of available assignments as well as the opportunity to start your own freelancing blog to showcase your talents on!
For hobbyists and artists: Product sales, and services as well, online are a low-risk way to start a home business. Products are sold through your own website, auction sites (such as ebay), or classified ad sites (such as Craig’s List).
The Next Level of Home Business
If you are already operating your home business online, the next level would be to:
a) start hiring and training employees to do the work for you (so you can have more personal time)
b) start hiring and training employees to do the work for you (and increase your brand, customers, and reach)
c) create more websites (essentially building a network of websites) that offer related products or services to increase your home business income.
Hello Laura:
Greetings from Puerto Rico.
I think it’s great that you decided to live the way you dreamed of instead of settling like so many people do. I found your websites when I was looking for information about how to start a business and I really like them. They have inspired me and educated me. I’m interested in two of your books: Back Road Riches and The Stampede Secret. How can I order them?
Thank you,
Zelma Garcia-Cordero