If you have an entrepreneurial itch that you can’t seem to scratch, you may be wondering how to begin. After all, your business start up can take an infinite number of shapes in sizes –to an import export business based on Hong Kong to a laundromat in Madrid.
A great way to learn the ins and outs of business is to start a small business from home. A home business gives you the flexibility to keep your day job so that you have the funds to expand as your business takes off. Here are 5 online-based businesses that you can start with minimal up-front cost and little risk.
Freelance Writing
With Youtube.com and other forms of digital media dominating people’s time, you may think that the written word is dead. However, with the exponential expansion of the web, the demand for fresh written content has never been higher. For example, the freelancer website Elance.com consistently has thousands of open writer jobs that you can apply to.
However, keep in mind that the writing field is competitive and you have to be able to do more than string a few words together to become successful.
Reputation Management
According to an article in the New York Times, reputation management is one of the fastest growing business on the web. In short, reputation management helps businesses make sure that their brand remains protected online. For example, if someone posts a poor review of a business on the web, a reputation manager’s job is to bury the bad review. There’s little competition in this niche at the moment and a boatload of demand.
Blogging
Professional blogging is a dream job for many people stuck in a 9-5. However, if you ask most pro bloggers out there, blogging is hard work! You can’t simply wax poetic about your cat and expect to earn a living.
To become a successful blogger you need to find a niche that you’re passionate about that can also be easily monetized. For example, if you have earned some extra money from paid surveys, you may want to start a blog that outlines the insights that you’ve gained. Other ideas for profitable blogs include home-based businesses, career advice and medical careers.
Graphic Design
Do you have a flare for the dramatic and an eye for beauty? If so, then graphic design may be something to consider. Although competitive, there’s a tidal wave of demand from webmasters and business that need graphics, logos and infographics. If you’d like to learn more about graphic design, here is an epic post that outlines the steps you’ll need to take.
Tutoring
If you were an A student, you may want to consider tutoring as a well-paying and flexible at home business. You can start by finding clients in your area or head over to Tutor.com and find students there. The typical rate on Tutor.com is about $10-15 per hour depending on the subject and your level of expertise in the area. Of course, if you decide to find students on your own you can charge significantly more.