Selecting the right business is easy and hard, all at once. It’s easy, because it’s fun to think about the wide range of services or products you could sell to earn money.
It’s hard, because you want your business to be interesting and rewarding-especially financially rewarding. If you can’t make money doing it, why bother? You might as well volunteer for a worthy cause if the money isn’t there. And yet money isn’t everything.
I’ve tried a number of work-at-home ventures over the years. I’ve been a Discovery Toys consultant, a technical editor, a curriculum materials writer, a mystery shopper, and now-I own a writing and research company. It took me a very long time to reach this point, with a lot of stumbling.
Part of my problem was that I was too focused on MAKING MONEY and not focused on what I really WANTED from my life and my business. That was my big mistake. I didn’t stop to think about what I enjoyed, what I wanted to do, or what would make me happy.
I just picked something-anything-to be in business. I wish I’d know the following five rules before making some of the mistakes I made in the past. But these rules can help you as you proceed.
Rule #1: Think about what you enjoy, and go from there.
Sounds simple, right? It takes some soul searching. Make a list of the things you enjoy.
Rule #2: Tie the things you enjoy to the marketplace.
For instance, maybe you like to knit. Could you knit baby items and sell them on the Internet, or to high-end baby boutiques?
Maybe you enjoy going bargain hunting and yard saling. Can you spot a treasure? Could you buy and resell on eBay for a profit?
Perhaps you like to see movies. Could you sign up as a Mystery Shopper for movie cinemas and get paid to watch free movies?
What if you like to cook? Consider signing up as a Pampered Chef home party consultant, where you can demonstrate kitchen gadgets and have fun.
And what if you enjoy puttering around the house? How about offering pick-up and drop-off laundry service? You get someone’s dirty laundry, wash, dry, and fold it for them, then deliver it the next day. It’s literally “work at home” while your little ones play.
Connect the things you enjoy to ways to make money, and see how many of them look reasonable. Next step:
Rule #3: Be ready to REALLY do this.
Lots of people THINK they want to have their own business. But owning your own business takes time, a small amount of start-up money, and a LOT of head space!
As the owner, you’re in charge of EVERYTHING. Business development, advertising, customer relations, bills, collecting money-you name it.
The great thing is that you control it all. You can go as slow or as fast as you want.
Rule #4: Choose something.
Plenty of people NEVER start a business because they’re afraid to commit to anything. (Sounds like one of your ex-boyfriends or ex-girlfriends, huh?) Commitment isn’t hard-it just takes picking something and sticking with it.
Once you’ve made your choice, then…
Rule #5: Develop a Business Plan
All businesses-from a dog-walking service to an aerospace company-need business plans. A business plan tells you how you want to start, the purpose of your company, the direction you want to go with it, how you’ll fund operations, how much money you plan to/hope to make, and so on.
There are many free websites and templates to help you create your business plan. Google “business plan template” to find more information.
A business plan is especially important if you need to get a loan to start your business. No bank will even consider you without a business plan. The plan will give you a sense of purpose and direction that is crucial as you take the big leap toward business ownership.
The most important step you can take is to just get started!
