Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
Three Home Businesses to Avoid
There are so many types of home-based business ideas that can help you make money. The thing is, some of them sound so easy, and yet they have a higher likelihood of failing. While they can work for others, these are businesses that are not generally recommended for people who are just starting out.
Today, you will learn what these businesses are. We are not saying that these are bad ideas—it’s just that they are difficult to start and maintain.
Fulfillment by Amazon (FBA) is a business model where you send your products to Amazon’s warehouse, so Amazon can ship it to the buyers. Once Amazon receives your item, they will catalog it and store it. You will receive a notification once this process is completed, after which you can now post your items for sale on Amazon.
Once a customer buys, it is Amazon that will ship the item. This model takes away the hassles with packaging, labeling, and shipping your goods. However, it is also expensive because you have to pay for your items’ storage fee.
Another drawback is that your items can sit there for a long while, and you will not make a sale. Amazon is a huge marketplace, and your chances of making a sale are really slim, especially if your product is not unique. At best, just keep your inventory at home and post your item for sale on eBay and Amazon.
Social Media Agency
This is a home-based business where you manage the social media activities of your clients. You create posts, ad copies, and even graphic arts. For example, if they want to advertise free slots no download no registration instant play, you need to produce ad creatives to increase their engagement rate.
This is not a great business idea because it is not sustainable. It is highly likely that your clients are small or medium-sized businesses that do not really have a big budget to pay for a marketing agency.
At best, the clients you should be serving are million-dollar companies—this is not likely to magically happen if you are just starting out. Marketing is usually a one-time thing. Once a client has made sales, it is not likely that they would continue with more marketing projects. As such, you have no consistent income, and you need to look for new clients.
This is a kind of service where you teach a person to do things in exchange for your time. You need to be an expert at something, like marketing or advertising, to be able to offer this.
As a consultant, you are paid per hour of work. Many consultants charge $199 for the work they do, but this is not a consistent income. You will spend a lot of time waiting for calls, only to realize you are not getting a lot of gigs.
The best businesses to start are those that have a high demand—businesses that people want to pay for, such as goods and services that they need on a consistent basis. For goods, you need to focus your efforts on items that people buy emotionally.
For services, you are better off providing writing services or graphic arts—anything that has something to do with content that has to be published regularly.
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