Looking for business ownership/startup ideas or advice, please?

Question

I want to be a business owner. I don't have any business in mind, in particular. I have a science, math, sales background. I would like something I can do at home or part time to begin - I have small children and a wife at home. I think franchises usually want too much up front (for good reason) and this might preclude me. I DON'T want retail. I know SCORE is a good resource for ideas and advice... Is there any further guidance someone might offer me?

Answer 1

The best business will depend on what you want, how you define to be interesting. A person may consider a pet sitting business to be the most exciting work in the world, while you would rather watch TV than take care of dogs.

The key is to determine what your interests are, what you want to do, what is suitable for your lifestyle and your overall goals, and what can fit with your resources.

I interviewed a SBA Entrepreneur of the Year Awardee and he told me that it took him 6 months to decide the business he wanted. He made a list of what he likes and what he doesn't like, and then try to find the business that would fit the things that he liked. Like you he did not want retail, he did not want to handle anything with food, etc. But it was a process for him.

Dan Ramsey in his book "101 Best Home Businesses" has a chapter on how to find YOUR best home business. He suggests these 10 steps:

1. List 5 things you do best
2. List how others would benefit from what you do best
3. Find out how to give people what they want
4. Learn the value of your services to others
5. Find out who else offers similar services
6. Learn from the successes of others
7. Learn from the failures of others
8. Plan your own success
9. Make low cost mistakes
10. Enjoy what you do and how you do it

He then made suggestions on the best home businesses according to type. Here are a few of them:

Best Businesses Using Craft or Physical Skills
- antique restoration
- auto detail service
- carpet cleaning business
- errand/delivery service
- housecleaning business

Best Service Businesses
- bed and breakfast operator
- caregiver
- catering service
- senior day care center
- tutoring service

Best Professional Businesses
- desktop publisher
- magazine writer
- import/export service
- income tax preparation service
- event planner

You can also check out the following books:

Turn Your Talents into Profits: 100+ Terrific Ideas for Starting Your Own Home-Based Microbusiness
The Best Home Businesses for the 21st Century
121 Internet Businesses You Can Start from Home
The Best Internet Businesses You Can Start
101 Ways to Make Money at Home

It may help you if you could talk with a small business expert or free mentors to give you ideas on how to make your dream of starting a business come true even without money. Here are some places where you can find a mentor:

- Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
- Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
- Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
- Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
- Industry and trade associations
- Local business groups, such as the chamber of commerce
- Local chapters of business groups

Answer 2

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Answer 3

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Answer 4

Think about what you are passionate about and then look into those ideas as a business. Also think about what you love doing. Could that be turned into a business? If you think about it you may be able to come up with some good ideas. BUT think outside of the box.

Answer 5

i suggest getting your insurance license. right now, most americans that are on medicare are shopping for prescription coverage (and contrary to media, most are very happy with it). i am turning people away, because i can't fit everone in each day. also, i have taken off the last 3 months (may 15 was last day to sign up, until nov. 15th). i have over $11,000 coming in monthly before i even go to work (i'm wearing my pajamas right now)! i will admit, i worked at it very hard (wife helped me a bunch), and i'm still on the phone over an hour each day...but it is good money. should easily clear $250k this year.

Answer 6

I would have a long (that's loooong) think about what you really want to do. There seem to be many different franchise available these days which can be highly successfull, but from what I have heard these can be expensive to buy into. Otherwise, try to think of something different. Is there something that your suburb could really benefit from? Do you have talents or passions - these would be great motivators for you. good luck!

Answer 7

Well, it's a good idea to start work from home. But it depends on your interest and what type of work you want to start. BusinessPartners is a global business platform where you will easily find various business opportunity and trustworthy businessPartners.

Answer 8

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Answer 9

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Answer 10

What sort of business you have in mind and do have any capital?