Having been involved in home-based business for more than a decade, I’ve seen a lot of home businesses. And I can say not all home businesses are equal, some are vulnerable to crisis like this, some are not.
In this blog post, I’m going to share with you some explanation on what a home business is, the two types of home businesses according to their mode of operation, and my advice on which one to choose.
What is a Home Business?
First of all, I’d like to clarify we’re not into the business of making homes, like a real estate developer.
When we say “home business“, we are referring to businesses that can be started right in the comfort of your home, or can be operated in your own home. Of course, you can also start a real estate business from home if you want to.
A home business is one which you run from some space in your own home. This home could be a single family residence, an aparment, a condo, a mobile home, a boat, etc. The space you use could be your living room, a garage, a basement, an attic, a kitchen or even a bedroom.
Since the start of the COVID-19 pandemic and the lockdowns, entrepreneurial people have considered operating a home business for it does not require you to rent a business space in the downtown area of the city.
2 Types of Home Business According To Operation
Not all home-based businesses are the same, the reason why you need to be clear what kind of home business you are to start. And you can determine what type is it by its mode of operation.
1.) A business that’s conducted entirely in the home – you make pies, toys, sculptures, apparels, etc. and people come to your home to buy your items.
2. ) A home-based business that’s partly or wholly outside your home – you need to travel to homes and offices to perform computer repairs, lawn care, etc.
In this second type fo home business, your advertising, sales and bookkeeping are done in your home, just are they are for a business conducted solely within the home.
Also, included here are food processing businesses where you produce your goods at home and then go out to ship orders via a courier.
The key to success in a home business is, your ability to sell, which I have discussed in my earlier article.
Related Article: How Not To Go Hungry in this COVID-19 Pandemic
Selling Through Classified Ads
When I first started in home business, I used classified ads to get customers of my herbal coffee. I was a reseller of herbal coffee then, and I usually put free ads to get customers.
During those times, selling through classified ads was really effective as most people look through them to find what they want. Today, I wonder if there are still people browsing classified ads section of a newspaper.
But it proved to be a good starting point for anyone wanting to start a home business. Usually for free or for a very low fee, one can put his item for sale, his phone number, and within a day or two, inquiries would be flooding in.
I made a lot of sales via that way and even after I have changed businesses, like when I ventured into loan consultancy, I got a lot of clients via classified ads.
Selling On The Internet
The introduction of the Internet has helped a lot of home business entrepreneurs reach a wider audience with minium cost. Some even use free resources like social media in getting clients.
In traditional advertising, there’s usually a waiting period before your ads are seen by your target prospects. But in online selling, the moment you publish your post, it can be seen immediately by your prospects.
The flood of people using social media to promote businesses have prompted the owners of these sites to implement a paid advertising platform. So, if you want your message to be seen faster by your target market, you can spend some amount of money in advertising.
Today, the playing field has been leveled and you can now see small entrepreneurs competing with big companies through online ads. If you have a home business, the Internet can help you a lot.