#at home business ideas
There are many things you can do. Plus, you have the advantage of being more educated than your peers.
Firstly, I d suggest you to try and build an audience for yourself. The best way to get started with that would be to write a blog.
Do you have a hobby? Do you have a particular skill? You could help others pursue that hobby or learn that skill and make some profit from it too.
More often, we tend to have gained some skills by doing something, skills which complement the main thing. So, if you were a teacher, you d also to need to have good communication, crowd control and problem solving skills in addition of having the skill to teach. Try to explore these hidden skills of yours.
You mentioned that you had a child, did you pull off some clever skills or hacks while you were pregnant or your baby was growing up? Chances are many other women will also be in the same problem as you were in, write a book (eBook will be a good option here) detailing the problems and solutions you came up with. Sell it to the audience you have created. Initially, the money will not be that great, but if you keep coming up with good content and market yourself, there should be no problem in being able to run earn the money you want to.
Try reading new books, they help a lot. I recommend The $100 Startup. This book specifically profiles people who have earned around $50,000 a year doing things they love. Almost all the businesses mentioned here are not skill intensive and can be operated by anyone. Plus, the author also gives actionable advice on how and where to get started and what can you do to enjoy freedom and earn money.
Here s a list of what all you can do, according to me. Although, it would have been easier to answer this if you would have told, in which city you live and how much investment can you do. Still, I will try to do my best.
1. Teach what you know the best: Investment Banking — Apply in schools to teach commerce students of higher grades or apply in colleges. With industry exposure and experience I am sure you will easily get a job. Later, you can earn some extra money by giving tuitions in the evening. A teacher, teaching in a college and then giving tuitions can easily earn around 50,000.
2. Start Blogging: [ A lot of people below have listed blogging to earn money through Ads or affiliate marketing, but this will take time, it takes atleast 3 to 4 years to start earning a healthy amount through blogging and that too if you are regular blogger and understand lot many complexities like SEO, coding etc.]. Write about things that you understnad, you are at home, so you have time to research and read. Write your own articles and analysis about various mergers, economic trends, stock advices, etc etc. Publicise your blog through facebook and linkedin. Now use this as your customer base. Then start a separate consultancy and advisory. The way Google earns money. Give some services for free like research and analysis, in your case, and then earn from the presence of people. Later, with high traffic you will also be able to earn money from Ads. Also, if you will have a set of audience reading you per day, later you can also start writing for newspapers or magazines.
3. Start an Activity Centre: [ This is the reason, I asked how much investment you have. In both the options mentioned above, you will not need any investment but for this one, you will need an initial investment ]. Take a space on rent, or better if you have a hall and one room vacant in your home. Put 2 Pool tables, some table chair, an LCD or a Music system will also work, Free Wifi and provide some snacks. All this will cost around 2 lakhs of investment. Charge around Rs. 20 per person/per hour for the pool table. 8 people = Rs. 160. Assume that the shop remains operational for around 10 hours, our of which people play pool for say 5 hours, or for 5 hours the tables remain occupied. This will amount to Rs. 800. [Some times it may happen the tables are not fully occupied, that s why I decreased no of hours of occupancy. ] Provide snacks like, Masala Cola, Soda Lemon, Juice, French Fries, Burgers etc etc. They have high margin and it doesn t takes much expertise to make them. The free wifi and these snacks will make it a fun chill out and hang out place. People will come and spend time. Even if you will be able to make Rs. 400 from the snacks vertical. In aggregate you will be able make around Rs. 36,000 to Rs. 40,000 per month. Later you can expand to have a gym on the next floor or something.
4. Open up a Coaching Centre. This is similar to the 1st point. Education is the best business in India these days. One can easily earn Rs. 20,000 to 30,000 just by giving home tuitions in the evening, 4 to hours thats it. So you obviously will not give home tuitions, but open up your own coaching centre. Hire a teacher in the start, to teach subjects in which you are not very good. Preferably hire a college student as, they will be more enthusiastic and eager to teach and will charge less money, all they are concerned about is to make some extra bucks. Start with teaching commerce students, teach subjects that you know. May be 1st year you will not make much, but yes second year onwards you will have a decent income. And trust me this will rise exponentially. May be in 3 or 4 years, you will be earning much more than what you have expected above in the description, provided you give some good results and better branding.
5. Start Investing — You understand companies and you understand market. Start with a decent amount of Rs. 2 lakhs. Have a varied portfolio. With some technical analysis and a good knowledge, it wont be hard to make 20% return. And obviously later you will earn compounded returns. You will be able to make much more money after 2 or 3 years.
I hope some of these points will help and If any of these do work, then give me some tips on Investment Banking, or preferably teach me. P As, I want to be an Investment Banker and currently working in the same field. )