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Are you stuck at home during this pandemic?
And you're looking for some business ideas to implement whilst chilling at home?
If so, then this article is for you!
In this post, l will quickly share with you some 9 business ideas that you can implement at home β so that you can start earning some income.
After reading this article, you'll be able to go out there and start doing something i.e. using some of the ideas shared in this post.
Thus, read till the end if you want to learn more about this topic.
9 Small Business Ideas
9 Small Business Ideas
Without further ado, let me jump straight into more detail.
If you have a sellable skill that youβre willing to sell to other people, then freelancing might be for you.
This is whereby you do some client work like graphic design, web development, writing, video editing, etc. β and you get paid a certain fee.
This allows you to work with clients around the globe β whilst you're just chilling at home with your family.
And if you leverage freelance sites like Fiverr or Upwork, you can get more clients a bit more βeasier' β since these platforms receives a lot of free organic traffic everyday.
Thus, if you have a skill that you're willing to sell, then you can register at these freelance sites.
However, the only caveat of freelancing is that, you'll be trading your time for money β which is against the principles of passive income.
You get paid based on the amount of hours that you work β and the money stops coming-in the moment you stop working.
Thus, you should use freelancing as a vehicle to get some few extra bucks β whilst building a passive income business in the background.
2. Online Tutoring
2. Online Tutoring
If you've some advanced knowledge in a specific field, then you might need to consider online tutoring.
There's a lot of people who're so eager to learn about specific subjects β and they're willing to pay good amount for that.
Thus, if you find the right audience, you can make some good income β whilst sharing your knowledge with them.
In order to get started, you can register for platforms like Udemy or Skillshare β where thousands of people are always looking for new things to learn.
Thus, you wont need to stress about finding students β since you can always leverage the free organic traffic of these platforms.
Thus, if you have a sharable skill, you can package it into a course, or you can offer live tutorials to your students.
If you have some expertise in a certain field, then consulting might be for you.
In this business model, you'll be paid to offer some specialised services to your clients β so as to help them in complex areas.
For example, if you have some expertise in a certain business endeavour, then you can offer business consultation to other businesses who're looking to grow their businesses.
And most companies are willing to pay for these kind of services β since they view it as an investment i.e. they know that they'll get a higher return when they use the advice.
Thus, you can venture into this space if you have some expertise in a certain field.
You can also look into relationship consultation, marriage consultation, health consultation, etc. β since these fields are also on high demand as well.
Do you know that you can start your own clothing business online with little to no capital?
That's true.
You can leverage a business model called print on demand β whereby you upload your designs to a POD site β and they'll handle everything for you i.e. from manufacturing to shipping to customer support.
Your job is to come-up with the clothing designs β as well as marketing those designs.
When a customer places an order, the POD site will immediately produce the item β and they'll ship it on your behalf.
You'll get paid a royalty i.e. the difference between cost of production and the selling price.
Thus, POD is also a great business model that you can implement today with little to no capital.
5. Drop Shipping
5. Drop Shipping
Next on our list is drop shipping.
This is whereby you find cheap products on AliExpress or Alibaba & you advertise them on your store (for a margin).
When you get some orders, you'll buy the items on these platforms β and you ask the supplier to ship them directly to the customer's location β hence, you wont need to see or touch the items.
Drop shipping has been on the rise over the past couple of years β since there's a lot of cheap products in China which other people in other continents are willing to pay more for.
Thus, you can also take advantage of this wave β and get started ASAP!
Similar to drop shipping is drop servicing.
Instead of dealing with physical products, drop servicing focuses more on service based industries e.g. web development, video editing, graphic design, writing, etc.
In this business model, your job is to look for clients who're looking for these kind of services β and you charge them a significantly βhigherβ fee.
Once someone orders a certain service, you'll then go to freelance sites like Fiverr or Upwork β and you find some people who charges less for that service β but at the same time, they must be able to produce high quality results.
And when the person completes the task, you'll just forward it to the client β and you pocket the different.
Thus, you'll be acting like a middle-man for certain services.
Next on our list is affiliate marketing.
If you follow this blog, then youβre definitely aware that lm a big fan of this business model β due to it's associated benefits.
In this business model, your job is to promote other people's products or services for a commission.
You don't need to worry about product creation, shipping, inventory, customer support, etc. β hence, there's less overheads involved in this business model.
Your job as an affiliate is to drive traffic to your affiliate links β and when someone buys through your links, you'll get paid some commissions.
Thus, you might need to look into this business model if you want a business that requires less capital to start.
Next on the list is domain flipping.
In this business model, you look for expired domains on platforms like βJust Dropped ' β and you buy them for cheap.
Once you buy them, you then resale them on other marketplaces like GoDaddy for a profit β thus, allowing you to make big bucks.
I've seen some domains being bought for less than 10 bucks β but then, resold for few hundreds (if not thousands).
Thus, this business model can be quite lucrative β if you know how to do it properly.
However, the only caveat of this business model is that, some domains can go for months (if not years) without being bought.
As a result, your investments might get stuck in those domains β which might not be the best use of your money.
Other than that, domain flipping is still a great business model to consider.
Last on our list is starting a social media marketing agency.
This is also trending right now β since SMMAs are on demand right now.
Basically, your job is to run paid ads for local businesses β and you'll get paid a certain monthly fee for your service.
Thus, you can make some good income whilst selling your services to them.
Now, l know you might be saying staff like; βI don't know how to run paid ads'.
If so, then you should stop worrying right now!
You can learn these skills on Google Skillshop or Facebook Blueprint β and it's 100% free.
Once you've completed the courses, you'll be awarded some certificates which proves that you studied through their platforms.
And once you've learned the basic skills, you can go ahead and start your own SMMA.
Wrapping Up
Wrapping Up
So these are the 9 small business ideas that you can implement at home today.
The key is to pick the one which you like the most β and you execute it ASAP.
Also, it's important to mention that, none of these business model is an overnight thing i.e. you might fail to get results in the short run β since it takes time to build something significant.
But if you stay consistent in the game, you'll see some good results in the long run.
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