Are you ready to start your own business? If the entrepreneurial fire is pushing you forward, you should probably consider what kind of business you’re hoping to create. Since you’re going to have to put in a lot of effort to reach success, you might need to think outside of the box to figure out the best type of business to pursue. If you’ve already exhausted the standard options, you may be surprised at these four unexpected ways to start your own home-based business.
Vitamins & Supplements
One opportunity you have to start your own business from home is in the private label supplements industry. With the increase in the obsession with health and dietary supplements, you can create your own brand, without having to manufacture them directly. By purchasing wholesale supplements and selling them on e-commerce sites, you can make a tidy profit without too much overhead. If you decide to create your own private supplement label, you’ll have to familiarize yourself with safe shipping practices and determine what kinds of supplements you want to provide.
Dropshipping
Dropshipping is a simple process made possible by e-commerce stores such as Amazon. Essentially, you use online e-commerce platforms to market your online ‘store.’ Then, when you receive a customer order at retail price, you order the items directly from the supplier at a much lower wholesale price to be delivered directly to your customer, so you don’t have to buy these items wholesale or pay for anywhere to store them. This makes drop shipping a popular business model for aspiring business owners who don’t want a lot of overhead costs and can be very lucrative if you’re willing to spend time marketing your online store.
Business Domain Trading
One unexpected way to make extra cash is through buying and selling business domains. While purchasing an online domain isn’t too expensive, if you’re lucky you can buy the domain names that mean the most to potential businesses and sell those domains at a profit to business owners who need them. This might take a while to reap financial rewards, but if you have technical skills for developing apps and websites, you can also sell those business ideas, apps, and sites to aspiring entrepreneurs at a profit. To be successful, you’ll have to be ahead of the game to develop instincts on what will be successful in the future market.
You may not realize this, but many people are harnessing the power of social media to make a career out of marketing themselves. If you’re a great comedian or musician, you can post videos online on any social platform for the world to see and hopefully share. If you have a great skill to teach, you can also monetize social media by posting regular vlogs to help others who may be interested in learning that skill. There is no limit to the number of things you can post videos about, so if you’re extroverted and love to entertain, this might be a great option for you. By creating your own personal brand and sharing it across all social media platforms, you can become a social media influencer. If you’re popular enough, you can even become a brand affiliate with big companies like Amazon, helping to market their products to rake in extra cash.
Starting your own home-based business can offer a lot of freedom for someone hoping to escape the drudgery of a 9-5 workday. If you’ve got the motivation necessary to market yourself and create something of value, you can be successful at anything you put your mind to, even if it’s not something you would normally expect.
