Home Career How to Start a Home Business on a Shoestring Budget (I)

How to Start a Home Business on a Shoestring Budget (I)

Ideas for a home business

There are so many ventures you could begin from the comfort of your home. In this series, we outline some great ideas for a home business.

So many of us long to have a business or our own. It could be that we want to be our own bosses; or we are tired of commuting in daily traffic; or we want to make more money; or we feel our skills are not being utilized; or we have this brilliant idea we want to share with the world.

However, a stumbling block for many entrepreneurs, especially home-based entrepreneurs is the lack of money. It is frightening to give up a salaried job. Plus, you may be wary of sinking your savings into a new venture.

But, there are so many businesses you can start from home with minimum investment. All you need are the skills, a smart business plan and oodles of commitment. But, even if you don’t have the expertise or experience but want to embark on a particular business because you have a passion for it, invest in doing a course to learn those skills.

Here we give you a whole load of business ideas on a shoestring budget.

Become a marketing consultant

Marketing Consultant: If you’ve been in marketing and are in a senior position now with a name in your industry, you could always chuck up your cushy job and become a consultant. The money you get will certainly be way more than what you earn in a company – that is provided you are on top of the game and can snag A-list clients.

Social Media Consultant: Are you already an internet junkie? Then put your hobby to use. Many companies are on the lookout for social media consultants in this digital age. Read up on it, take courses if necessary or use social media management tools. If you are good, you could even get clients from across the world. And your investment? A computer and Wi-Fi.

Application Developer and Website Developer: If you have skills in either of these, you could work from home. There is so much demand for these services across the globe. And if you are good, the world is your oyster!

Reviewer: Is there anything you are passionate about like food or makeup or books? You could review these and earn money. You can approach companies or start a website with a blog to test and review products. You will need good writing skills and also a knowledge of the products/services you are reviewing. If you garner a huge following, you could become an influencer. And earn big bucks for doing something you love!

Be a graphic desginer

Graphic Designer: Today, many companies are tightening their budgets and outsourcing work. Graphic designers are always in demand for designing logos, brochures, newsletters, magazines, ads, etc. If you have the expertise, you will most certainly find work. You can sit at home and do what you love without a boss breathing down your neck!

Freelance Writer: If you love writing and have good writing skills, this is an ideal job for you. You can write for newspapers and magazines or websites. Decide what kind of writing you would like to focus on. Start building a client base. If you are an established writer, work will pour in. But if you are starting out, it may take time and patience. But the advantage here is that you can sit at home in your jammies and write for a client on another continent!

Tax Consultant: This is something you can start if you have the proficiency in this particular line. Almost everyone needs a tax consultant. So, get your business rolling by first roping in family and friends. But the big bucks come from consulting for companies. Slowly build up a clientele.

Home business owner.

Blogger or Vlogger: YouTube is full of successful vloggers who are minting money. And worldwide, you have bloggers with dedicated followings of millions of people. Find the correct niche that you will focus on because that is very important. It should be an area in which you are an expert or are passionate about. For instance, travel, fashion, food, cooking, yoga, holistic living…the list goes on and on. However, this is not something that will bring you the bucks overnight. If you’re lucky, you could gain instant celebrity but for most people, it is a time-consuming process. Be prepared to rough it out.

Resume Writer: Again, you need writing skills and a level of knowhow in writing resumes to cater to different industries and even different countries. But with so many people always looking for jobs or looking to switch, this is something that can bring you money if you are good at it.

Translator: If you are fluent in two or more languages, this is an ideal opportunity for you. There’s always need for translators for documents, articles and books.

Tailoring can be a great home business if you have the knack for it.

Tailoring: If you know tailoring, you can start a small business at home. Initially, you could execute orders yourself, but once your business grows, you could hire more tailors. You could specialize in custom blouses, or stitch salwar suits and dresses or even offer something as mundane as stitching falls for saris. If you have embroidery skills or cutwork skills or batik or block printing you could fashion dupattas, saris, blouses, cushion covers, curtains…the sky is the limit.

Editor: For this you will need not just writing skills but editing skills too. And an attention to detail. And of course, a thorough knowledge of grammar. You could edit articles, journals and books and make money just sitting at home on your computer!

Professional Photographer: In today’s Instagram world, everyone thinks they can be photographers. But there is a huge demand for professional photographers to click products for websites. Then you have wedding photographers. And if you love traveling, you could become a travel photographer. Yes, you will need to invest in some expensive equipment but it’s not going to cost you an arm and a leg. If you start small, you can keep adding to your equipment as and when you make money.

There are so so many businesses you can start from home. This is just the beginning. We will share more ideas with you next time!