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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
So, You Want to Open a Successful Home Business?
With the current job climate and the pandemic forcing people to work from home, you may be wondering how you can build an extremely successful business from the comfort of your home. Unfortunately, there is no formula that you can plug into any plan to make you an instant success.
However, there are quite a few businesses that are far more in-demand than others and can be run from the comfort of your home. Especially in this new era of staying at home, finding a business that you can build from the ground up is a smart move for your family and financial security.
Financial Services
From accounting, to tax preparation, to financial planning, the world of personal and business finance is booming. Even when the economy is inherently suffering, there remains a constant need for financial services.
In order to start a financial services business from your home, you will likely need a degree in finance or something similar. Successful business owners Dave Ramsey and Tej Kohli both got their start through wildly different branches of financial services.
Be a Virtual Business Consultant
More than ever, the workforce is leaving corporate situations in favor of becoming their own boss. However, a lot of these young business men have absolutely no idea how to build their own business and have a successful go at it.
Becoming a business consultant is a great way to use your knowledge within a field and provide assistance to a new business owner. One of the best things about this job is that there is very little overhead involved in building a business consulting business.
Education and Training Service
If you have ever been considered an “expert” in any given field, then you probably have a good bit to offer in the direction of education. The best part about this business is that it can all be done on your time and in your budget.
Create a website, create your content, and voila! You are officially an education or training service. Of course, you will also need to do quite a bit of marketing in order to build a client base and create a trust from the public in your brand. Still, this is a good method for building an at-home business.
Start an Investment Firm
If you start an investment firm, then you will be able to make smart investments with your own money. Further, you can make money off of the investments that you advise your clients to make as well. This one can be a bit risky, but when it pays off, it tends to pay off in a really big way.
Final Thoughts
Building a successful business takes hard work. There is no guarantee that any of these businesses will ever take off astronomically. However, with a little bit of determination and hard work, you might be able to build an honorable business with a steady income. Sounds like a good use of all of this downtime.
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