Finding viable ideas for a home based business isn’t as difficult as many potential entrepreneurs are led to believe. Unlike traditional startups, a home based business doesn’t require exorbitant startup costs or high overhead. With just a bit of industry knowledge and effective marketing efforts, writers and marketers can be on their way to owning a successful and profitable home based business.
Home Based Business Startup Idea: Freelance Writing
A common misconception about freelance writing is that freelance writers only write for magazines and entertainment focused publications. However, freelance writers may be hired to produce corporate marketing material used in national campaigns, internal newsletters and sales letters for entrepreneurs.
Though highly profitable, this home based business idea is not for everyone. Successful freelance writers have a solid knowledge of effective marketing and will use their knowledge to build a powerful marketing plan for their business. Additionally, being deadline driven and having an understanding of the needs of their clients are also factors that contribute to the success of a freelance writer.
If freelance writing sounds like a viable home based business idea, a portfolio and a good marketing strategy should be in place before pursuing clients. Clips and samples for a freelance writing portfolio can be acquired through writing pro bono material for their PR campaigns, writing sample sales letters for information products and submitting articles to regional magazines.
Those who are interested in SEO writing will greatly benefit from starting a blog. Starting a blog allows the writer to showcase their expertise in their chosen niche, earn money off of affiliate commissions and advertising revenue. But, most importantly it gives the writer the opportunity to bring their blog to the top of the search engines to prove their abilities to their clients.
Home Based Business Startup Idea: Affiliate Marketing
Another idea for a home based business that has limitless earning potential is affiliate marketing. This home based business startup idea consists of marketing information products through articles and social media to make sales. Each time someone purchases a product through the affiliate marketer’s affiliate link, the marketer earns money.
Though affiliate marketing certainly isn’t an easy business to start, the monetary rewards are fruitful for those who stick it out during the long run. Jennifer Ledbetter, aka PotPieGirl was a struggling affiliate marketer for close to a year before making it big. In the beginning of her affiliate marketing career, her sales were dismal. However, now over several years into her career she earns a generous six figure income.
Affiliate marketing is not everyone’s cup of tea as it requires high patience, but once a breakthrough period is achieve it results with good revenue, sometimes even beyond general expectation. It is the latest craze for publishers as well as advertisers and both work closely together to make money at their respective ends.