Starting down a new career path can be both exciting and terrifying, especially if your chosen “career path” is being an entrepreneur and running a home-based business. Below are five questions to ask yourself to help you determine what type of business might be right for you.
1. What is your passion?
Answer this question with the first thing that comes to mind: If money were no object and you could do anything, what would you do? You might have answered “be a writer”, “speak at conferences,” “bring my product idea to life” or any number of things. Whatever your answer, this most likely is your passion. I challenge you to take the time to ponder this and see if there is a way to bring your dream to fruition.
2. What types of things did you like to do as a child?
Many times the toys and games we loved as children give us a glimpse into who we have become as adults. If you loved climbing trees, you may now be an “outdoorsy” type of person. Think about how this might be incorporated into your business. For instance, you might enjoy setting up outdoor birthday parties for children or selling herbs from your backyard garden.
3. What type of products would you be interested in representing?
If you’re looking in the direction of direct sales, whether that be your own product or an established home-based business option, you need to think through what types of products you’d be comfortable presenting to your customers. Take the time to do some research and find a product that truly excites you. Your customers will see your sincerity and that can sell a product just as easily as a fancy presentation.
4. What skills and experience do you bring to the table?
If you’ve left the corporate world in favor of working at home, you’ve undoubtedly brought with you a set of skills. There may be a way to market those skills in a new way and turn them into a profitable business. For instance, if you were an executive assistant you may be able to type 80 words or more per minute. You could set up shop as a Virtual Assistant and help other business owners in processing orders, transcribing documents and much more.
Related: Businesses Worth Starting
5. Are you thinking outside of the box?
Most of us have a fear of the unknown. We many times assume that if we haven’t done something before it is simply out of reach. This carries over to the business world as well. We take our products or services and market them in the same way that we see other business owners using. However, it can be much more effective to find new and innovative ways to market. One home-based business owner I know sells stuffable toy kits. Instead of using the usual home parties and birthday party events, she works almost exclusively with children’s hospitals doing fundraisers. She makes a great living and helps not only the hospitals, but the children as well. She is a great example of unique marketing and overcoming the mundane marketing methods that so many business owners resign themselves to.
Your home-based business should be unique to you. It should make you want to get up each morning excited about the possibilities of the day ahead. Take the time to thoroughly think through the questions above and you’ll be on your way to making a great, well thought out decision that has your name written all over it!
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