Dues to the recession many people have lost jobs. Few people look to job loss as an opportunity to start a business and take control of their own financial futures. We will help those few people by showing them several opportunities for the entrepreneur minded person !
In our last article,
we discussed several opportunities for people interested in owning a business, that can be run from home. We detailed starting a business in: web design, internet storefront reselling, and virtual assistance.
In the current economic climate, it is increasingly important to think along the lines of entrepreneurship, even if as a “last resort.” Even if you are currently employed, it is always a good idea to keep your options open to building a business; even if as a part-time venture.
Today we will explore three more opportunities for owning a home based business, and explain how to get started as early as………….TODAY ! Keep reading..
(NOTE: This is part 2 of a 3 part series)
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1.) Computer Repair Business
Are you good at diagnosing/troubleshooting computer problems and repairing computers? Do you have a true love for computers and technology and spend much of your free time on things “tech related” ? You may find that becoming an independent computer repair technician is the right opportunity for you!
First of all, let’s discuss what you will need to begin: Technical expertise (computers), a computer, DBA (fictitious business name filing), business license (depending on your local laws), a workspace (a workbench is preferred), business cards, and internet connection.
Many people will also suggest that you secure: an accountant, a lawyer, business insurance (Errors and Omissions), various tools and spare parts, printer/fax/copier, phone, business website and various tools/spare parts.
** I recommend reading “Start Your Own Computer Business”, by Morris Rosenthal **
I won’t get too much into detail explaining the procedures to get setup as that will take days! The first thing that you should do is decide a “niche”, or in other words what aspect of computer repair would you get involved in? There are: laptop technicians, desktop technicians, MAC technicians, etc; and there are both residential customers and business customers. Which group will YOU target?
Next, you will need to research your local technicians & shops, to see what they are charging for their services. When you have an idea of what you would WANT to charge and what computers you will repair, you can then proceed to legitimize your business as mentioned above, and start to market your services (Hint: don’t charge as much as Geek-Squad) !
A good way to market is through family and friends, and visiting technical forums where you can provide free advice, thus establishing yourself as an “expert.”
Now it’s time to think of what will be your business model and procedures. Will you market yourself as a “mobile repair company”? Will you have a shop or will you work from home? Will you specialize in on-site repair, or will your customers drop their computers off to you; or both?
What kind of warranties will you provide customers on the computers that you service? What vendor will supply your repair parts? (Newegg is an excellent choice for a vendor)
You will need to learn constantly, and the current state of the market is tough, but through experience, a good PLAN, diversification, strong technical skills, and good social skills, you will have what is needed to start a fruitful venture into the computer repair business !
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2.) Virtual Trainer
This is a rather broad business title, due to the fact that you can become a “virtual trainer”, in nearly any job that doesn’t require direct “person to person” interaction. Do you think that you can make a great teacher? Are you confident, knowledgeable, patient and articulate? Are you disciplined and good at managing your time? If you answered “yes” to most of those questions, you should consider becoming a virtual trainer - if that interests you.
First, you will need to decide what you are GOOD at. REALLY good….good enough to teach someone. (For instance, if you are physically fit, and love showing people workout routines, facts and dispelling “workout myths”, you could become a “Virtual Physical Trainer.”)
Next, you will need several items to begin (note: some of these are recommendations that vary depending on what you choose to teach as a trainer): computer, internet connection, web-cam and microphone, software that allows web conferencing with audio, business cards, CRM software (Client Management Software) to organize contacts, appointment dates, to do list, etc; phone, fax, copier, scanner and a website.
Since a virtual trainer can service virtually endless industries, you will definitely need to perform diligent research to ensure that your experience could equate to a viable business.
In order for any business to make a profit, MARKETING is at the top of the list as far as priorities are concerned. No marketing = no money. PERIOD. How will you market your business? Will you choose Internet marketing? Street marketing? Word of mouth marketing? Free advertising? Paid advertising?
I advise that once you decide what you want to pursue, and you have the needed” equipment” in place, you should get your first client and hit the ground running. Then, get your second client, then your third...your fourth...and keep growing while asking each client for a referral and testimony to garner future business.
You will need to have excellent communication skills, the desire to try new things while re-arranging your plan as needed, and being highly organized and disciplined. It also helps that you are consistent, and work on your business DAILY, in some fashion. Now it’s time to pick your passion, research the viability, get your tools together, and grab that FIRST CUSTOMER !
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3.) E-Bay Seller
Were you aware that eBay has more than $45 billion in yearly gross merchandise sales?! According to finance “experts,” 600,000+ eBay sellers run either a full-time business, or efficient part time business. These sellers are known as Power Sellers and sell between $1,000 to $150,000 monthly on the website. Would YOU like a piece of the action?
The first thing that you must do is: create an account, and familiarize yourself with buying/selling on eBay. If you haven’t done so at this point start by by choosing an item(s) in your home that you no longer need, but that may be of value to someone else ("one mans trash is another man's treasure").
It is more important to learn how to buy, more than it is to sell – when starting. You can then learn the best and worst practices through first-hand experience, that will prove to be beneficial to your business. When you have learned the site, the rules/procedures and limitations, you can begin to “up the ante.”
Next, it is important to sell as many items as you possibly can, at the same time; to increase your ranking as well as your income. Could you see yourself selling at LEAST 50 items at the same time? Next, writing good headlines for your ads is a necessity, otherwise your “click through rate” will be low. (in other words low income).
Being a good writer of ads and using good pictures will definitely
help your eBay business grow; otherwise..it won’t! To become an eBay seller you’ll need: a computer, internet connection, camera and possibly a scanner/printer/copier. You will learn through trial and error so don't expect to get it "all right" starting out.
You will do well as long as you are able to learn from the sellers who are experienced and successful. If this possibility interests you, start researching this lucrative opportunity; put together a plan tailored for YOU..and get to going. Sky’s the limit!
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Please stay tuned for Part 3, as we explore three more opportunities that you can look into which are yet to be announced. As promised, we use our expertise to put YOU in the driver's seat of your own financial future !
Happy Computing !
Jarvis Edwards - TekTime
