How to Choose the Best Home Business to Start

January 20, 2006 | By | 4 Replies More

QUESTION on How to Choose the Home Business to Start:

I am hoping to start my own business and work from home. I have little money but I am willing to work hard in order to turn the business into a success. There are so many scams out there so I am confused as to what opportunities are available for me. What is the best business to start?

– Loren (Texas)




ANSWER

Dear Loren:

The best home business that you can be sure is not a scam is one that you start yourself. It 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 another person 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.

Businessman working on laptop, talking on phone.

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

Some other home business ideas:

Recommended Books on How to Choose a Home Business:

Isabel Isidro is the co-founder of PowerHomeBiz.com. A mom of three boys, avid vintage postcard collector, frustrated scrapbooker, she also manages Women Home Business, Starting Up Tips and Learning from Big Boys. Connect with her in Google +.

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Category: Q & A, Start a Home Business

Comments (4)

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  1. Michelle says:

    That is great advice Isabel and when starting a business you definitely have to find something that you will find fun!.

    I have some fresh new ideas and some helpful advice on starting a home based business or small business on my site

    Cheers
    Michelle
    Profit Strategist

  2. Tasha Ferrin says:

    I wanted to thanks for your time for this wonderful read!!

  3. Ostrye Bertoncini says:

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