10 Steps to Make Money from Home on a Shoestring Budget
Have you ever considered starting a small business so you can make money from home? But the thought about how to start and finance your business is a bit overwhelming.
Many businesses can be started on a shoestring budget without having to quit your full-time job or taking on a lot of debt. A shoestring business which is loosely defined as requiring less than $1,000 in start-up costs, should not require special skills or skills that can’t be learned in a short period of time.
The key to a successful shoestring start-up is to combine an activity you enjoy with an identified market niche. Some of the best ways to make money from home can be found in activities you’re already doing in your spare time. Many entrepreneurs have turned their passions into successful full-time businesses.
An example of a shoestring business might involve a person’s love of gardening. That passion could be turned into work designing and creating flower beds or vegetable gardens for people who lack a green thumb.
An outdoor enthusiast with an interest in the environment could turn their passion into work maintaining commercial properties litter-free. Or a skilled woodworker could market their creations or project plans.
Do you have a hobby that can be turned into a small business from home?
Many people are able to make money from home by keeping marketing expenses on a shoestring budget. Word-of-mouth and an inexpensive website both help to build business. Social media such as Google+, Facebook and Twitter are excellent and inexpensive ways to attract customers.
Make a list of reasons why you want to make money from home. This list helps you stay focused on your goal because you understand the reasons why you chose to start a business from home. You need to stay motivated and work your business if you want your business to work for you.
Make sure you follow all the necessary steps when starting your business. Here are 10 steps that are required to start a business from Alyssa Gregory.
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So you’ve got a great idea for a business. Here are the practical steps you need to take to make that idea a reality, from setting goals to choosing the right type of business to incorporate as. Read more…
Where to Get Money to Start a Business
The biggest obstacle to starting a business for most people is money. Yet thousands of people every year do find the money to fund their start-up. There are plenty of ways to get money to start a business. Some are risk free while others involve a higher degree of financial risk.
Many people will tap into their savings to get money to start a business. If there aren’t sufficient funds then consider getting a part time job and save up until you have enough money to start your business. You might want to open a separate bank account dedicated to this goal, as you don’t want to risk your entire savings. You still need some savings set aside for emergencies.
You can also live more frugally and invest what you save into your business. A few simple changes to your lifestyle may save you up to $300 a month and help you get money to start a business. If you’re determined to save money, you can probably find ways to cut your spending and even save on business expenses.
Consider starting your business part time from home as a means to get money to start a business. Your full time job can provide a steady source of income to meet your financial obligations as well as maintain your health care coverage. Operating from home will cost much less money since you won’t have the expense for office space and utilities. Don’t quit your day job until your part time business can replace the income from your full time employment.
Janet Attard offers 17 ways on where to Get Money to Start a Business. Check it out.
For additional suggestions see, this list of common sources of financing for small businesses as well as the articles on our business loans and financing topic page. Read more…
Yes, You Do Have Time to Start a Business While Working
We all live busy lives. If you’re going to start a business while working, you’ll need more than inspiration. You’ll need some practical advice about how to manage your time effectively.
When I started my business in 1981, I was working a full time job. I must admit I was fortunate to be working the hours of 2 – 10pm. I used my off time hours to start and grow my business. This was a time before cell phones and emails. So, if you’re working the typical 9 – 5 job today, you have the technical advantages that I didn’t have back in the day. Make use of your breaks at work and after hours to start and grow your business.
Write down what tasks you need to accomplish in priority order, then break down the work into smaller, manageable pieces. You’ll stay motivated to achieve your ultimate goal as you accomplish each task along the way. No one can do it all. Get expert help when you need it. You’ll be able to accomplish more than you can achieve by yourself.
Anyone who claims they don’t have time to pursue their dreams should read Sara Mauskopf’s story. While she was in the midst of launching her company, Winnie, she had both an infant at home and husband battling cancer. Check out her 5 basic tips to get you started. Here’s a great post by Jessica Stillman.
When time is short, perfectionism really isn’t an option. Focus on the stuff that matters, and let the rest of it slide a little. But Mauskopf cautions that can be easier said than done: “Perfectionism is a tough habit to break so you have to set time limits and force yourself to just put things out there even if they aren’t 100 percent perfect.” Read more…
7 Bad Habits That Make Salespeople Look Really Unprofessional | Inc.com
Salespeople are often broken off into two distinct camps; those who can and those who can’t. We’ve all encountered the pushy salesperson. They’re often too eager to make a sale or are uninterested in our wants or needs. Striking the right balance is necessary if you don’t want to come across as unprofessional to potential customers.
We’re all salespeople, by trade or not. Some of us are better, but sales is a skill that we all learned from an early age. You must remember selling your parents about why you needed a raise in your allowance. If you’re married, you first dated, followed by a period of engagement, resulting in you selling yourself as the right choice for spouse. You competed amongst many other job applicants to sell yourself as the right choice for the job. I think I’ve made my point. Call it what you will – sales, persuasion or convincing, we all do it in everyday life.
Here are some sales tips we can learn to become better salespeople:
- Know your product or service so you can answer all your prospect’s questions.
- Listen to what your prospect says. You need to be able to explain how you can solve their problems.
- Turn your products or services features into benefits. How your prospect benefits will persuade them to buy
- Persistence. Repeat previous 3 tips. Most sales are not made on one attempt.
Remember, great salespeople are made not born.
Here’s another perspective: 7 Bad Habits That Make Salespeople Look Really Unprofessional, by Peter Economy.
Making sales is hard enough–don’t add to your difficulties by doing these things. Read more…
10 Rеаѕоnѕ Why Sеlf-Funding is The Best Idea – Startup Hero
The idea of self-funding (or bootstrapping) a new business venture is underestimated as an option these days. Most startups follow the path of raising capital from investors. Whatever you decide, self-funding or raising capital, make sure you weigh the pros and cons of each.
When I started my business in 1981 I decided to self-fund. I was working a full time job at the time and concluded it was my best option. I required very little startup capital due to the simple nature of my business. Besides the necessary legal requirements, all I needed were inexpensive hand tools and promotional material to get my business started and making money. I operated from home part time reinvesting my profits back into my business until I was ready to give up my full time job, which was a few months later. For me, it was the best decision for a few reasons; It forced me to focus on obtaining clients, I didn’t have to answer to anyone but myself (and my customers off course), I learned what matters most to my clients, and I get to do what interests me.
Startup Hero has come up with 10 reasons why self-funding is the best thing a new business startup can do. Check it out.
Yоu ѕее, bооtѕtrарріng your еаrlу ѕtаgе ѕtаrtuр dоеѕn’t рrесludе the likelihood of уоu rаіѕіng subsidizing іn what’s to come. For instance аftеr having vаlіdаtеd a business sector аnd grоwn tо уоur initial 1000 clients, реrhарѕ уоu’ll wаnt to ассеlеrаtе grоwth аnd rаіѕе financing tо grоw to 100,000 сuѕtоmеrѕ. That is a раth numerous bооtѕtrарреd соmраnіеѕ hаvе tаkеn. Yоur соnvеrѕаtіоnѕ and resultant dеаl tеrmѕ аrе going to be altogether bеttеr hаvіng bооtѕtrарреd tо 1000 сuѕtоmеrѕ, thаn runnіng rоund tоwn hаvіng іnvеѕtоr mееtіngѕ with 0 сuѕtоmеrѕ tо your nаmе. Read more…
7 Things This Millionaire (and Introvert) Can Teach You About Becoming Self-Made | Inc.com
Mike Dillard became a self-made millionaire in his late 20’s. His attempts at becoming a successful entrepreneur within his first five years after graduating from college were unsuccessful. Two years of introspection and analysis led him to make changes that enabled him to make his first million dollars. He shares 7 things that helped him transform himself into a self-made millionaire with J.T. O’Donnell.
If you want to live life on your own terms, these rules may help you get there. Read more…
10 Online Classes Every Entrepreneur Should Take Before Starting a Business | Inc.com
Are you considering starting-a-business? Experienced entrepreneurs understand that great rewards only come to those brave enough to take calculated risks. But they’re also smart enough to know they need to learn as much as they can about business to become successful. Rhett Power provides the sources for 10 online business classes that will help you get on the right path to business success.
You need a good education in the business of doing business. Read more…
8 Small Business Ideas for Entrepreneurs in Big Cities
If you live in a large metropolitan area, the opportunities to grow your business and make an impact on your community are greater. According to the National League of Cities, small “homegrown” businesses create new jobs, employ local residents and create a community’s unique sense of place that enhances quality of life. If you’re an entrepreneur looking for small-business-ideas-for-big-cities you need to be conscious of the fact that some types of businesses will be potentially more successful in larger cities. A commercial parking lot litter removal business, for example, would do much better in a city than a rural setting. Shannon Gausepohl has written about a few types of small-business-ideas-for-big-cities worth checking out.
A city with a high population density — and a large potential customer base — can be a great place to start a business. Here are some ideas for small businesses to start in a big city. Read more…
10 Businesses You Can Start For Less Than $100
Starting your own business doesn’t have to cost you thousands of dollars. With a little knowledge about the business you’re entering, a marketing plan and a shoe-string budget, it’s still possible to start a business and be making money in a short period of time. I did just that in 1981. I provide a simple, green litter cleanup service outside commercial properties. This might be the business opportunity you’ve been looking for. Full details at http://www.cleanlots.com. There are businesses you can start for less than $100. Elizabeth Palermo has provided some other examples worth checking out.
Here are 10 businesses you can start today for under $100. Read more…
Sales Tip: Stop Listing Features. Tell Your Customers the Benefits.
Factual statements about a product or service (features) aren’t why customers buy. Benefits clearly identify the customers wants or needs. How do you know the difference between a feature or benefit? In this edited excerpt the authors of Guerilla Marketing in 30 Days explain how to identify the benefits, not the features, of your product or service to help you increase your sales.
How do you know if you’re touting a benefit or a feature? It’s actually easier than you think. Can you give an affirmative answer to the question “Will this one thing improve the life, cost, health or well-being of someone?” If the answer is yes, then you have a benefit that can be marketed to this someone who’s part of your target market. If the answer is no, chances are, you’ve identified a feature. You must now find the benefit associated with that feature. If there’s no benefit, forget about it. Read more…
Why you should include keywords in your domain name | .CA
Including some keywords in your domain name in addition to your business name can improve your website’s performance in a search result. Here are some great tips written by Jason Faber for Cira.
Along with using location keywords, searchers often include the specific type of product or service that they are looking for. For example, let’s say Reggie owns a pizza parlour. For him, the domain name ReggiesPizza.ca would be a good choice as it includes both his business name (Reggie’s) and his product (pizza). Furthermore, if he was located in Vancouver, he should also consider registering ReggiesPizzaVancouver.ca. This domain name not only helps him protect his brand, but also helps searchers understand that Reggie sells pizza in Vancouver. Read more…
How To Pick The Right Name For Your Startup.
You’ve decided to proceed with a business idea. You thought that was the difficult part. Now you’re struggling with picking the right name for your startup. Choosing the right business name is important, so don’t rush your selection. Here are some great tips from Marianna Glynska on how to come up with a corporate identity that’s beneficial to your business.
Your name has to reflect what drives your business. For customers, names are important. When they purchase goods or services, they want to know that the company they are buying from is serious about what they do. That doesn’t mean picking a bland, boring name. But it does mean foregrounding what makes you special. So think about coming up with a name that reflects your core values, not just a flashy, catchy name that is easy to remember. Read more…
