If the lure of working from home is appealing to you, have you thought about what type of business you could run from home? There are many types of business models that could be suitable for you.
Service based business
This type of business model is where you are working for clients. You can provide various services such as:
- Web design and graphics
- Book keeping
- Data entry
- Email management
- Social Media management
The best aspect of this model is that it will provide you with an immediate income. Your main priority is finding clients and then fulfilling the work. If you already have experience in a certain area then it makes sense to continue with this in your home business.
For example, if you work in a tax or accounting office, you can simply offer this service to your clients. You can target both online and offline business owners. All you have to do is set up a professional website with your services and then market it to attract clients.
Your own business
This model is extremely attractive but it does have a few draw backs. When you are first starting out remember that it takes time to build a business. Be prepared to not see an income for the first few months. Then when you do, you will need to put some money back into growing your business.
Types of businesses that fit this model include:
- Creating and selling digital products
- Running an eCommerce type store
- Affiliate marketing
All of these are fantastic business models which allow you to be in control of your own destiny and income. Running an online business from home takes dedication and determination. You have to be prepared to work long hours at first, and you need to be consistent with your efforts.
Some people like to mix and match these business models. It is possible to offer a writing service while self-publishing your own books. Or you may want to offer social media management as a service so that you have income to put into creating your own products.
That’s the beauty of running a home based business, you have the flexibility to choose what to offer, and when to offer it. We would recommend that you only offer one type of service at a time. You can always add a new service later on if you wish.