What’s the Best Home Based Business?

Renee Standing ProudI have a home-based business. Is it the best home based business? Well, I suppose it depends on the person. For me, it’s lovely. I get a lot of alone time, which fits well with the introverted me. I have flexibility, which means I can run errands for my family and attend events. Contact with my clients is done through Skype or phone. It works well for me, since I don’t have to do much to get ready. Above all, it’s portable. I can take it with me wherever I go. And did just that when I relocated from North Dakota to Nevada. I love it. It’s a great home business for me. But what about for you?

What are you pursuing?

I could tell you the reasons you should start one. However, really, it’s up to you to determine if a home business is right for you? Why do you want to start a home business? For that matter, why would you want to even start a business?

A common answer I get is, for the money. If that’s your answer or if you’ve come up with an answer that’s equally as superficial, I challenge you to dig deeper. If it’s for [the money], why do you want to do it for [the money]? What’s the purpose of the having [more money]? What will [more money] bring you? Use [the brackets] to substitute what you think having a business will do for you and answer the questions.

Is the purpose of starting a home business taking down the path you want to lead? Or is it just diverting your attention from what you truly want?

What makes you happy?

businesswoman-counting-moneyYou know the phrase, “Can’t buy happiness?” I want you to go beyond the means and get to the end. What truly makes you happy? What life do you want to have? What is your happy vision? Then ask yourself, will a home business get me to my vision? or even, How can a home business help me reach my vision.

Life is so finite. Every moment is precious and time can’t be refunded. So often, we find ourselves on journey, taken by default. We simply saw a path and took it because it was there or everyone was following along. Life doesn’t have to be like that for you. At any time, can stop, assess, and take the journey you were destined to take. That might be a home business, that may not. Whatever the case may be, I encourage you think about where you to go before following the herd going to no where special.

Passion Vs Money

After some assessment, perhaps you’ve determined a home business is right for you. So, what’s next? A lot of people will say, don’t go for passion, go for money. I say, do both. The best home business is one that you enjoy with a passion and provides what you need. That need may be financial.

Ceramic skeleton cup

My daughter’s ceramic skeleton cup. Shameless promotion. She accepts commissions.

It makes me think of my middle child, who’s an artist. A lot of people think being an artist is a dead career… a hobby. For folks who treat their art like a hobby, it certainly is. Hobbies aren’t businesses, though they could be.

When I think of a hobby, it’s something you do in your spare time. If you do one day, that’s great. If you decide to put it off for a few months, that’s fine too. There’s really no commitment there. When it comes to running a business, it’s about commitment. You put your time, money, and energy into building it… that’s if you want to be successful, that is. That’s what I’ve taught my daughter to do. Be an artist, if that’s what you desire. Commit to it and work it like it’s your job. Work it like there is no backup plan.

The same goes for your home business. Pursue it with passion, run it like there’s value, and the money follows.

Run it with value?

What do I mean by running your business with value? A lot of times we devalue our work. We think to ourselves that few will possibly pay our prices. That mindset shows through. If you don’t value your work, neither will anyone else.

I challenge you to start by assessing the value of your time. Ask yourself how much you want to make, how much time you have in a day, week, month, year to produce your services, then do the math.

Let me put things in perspective. I was getting my nails done one day… it was a spare of a moment thing where I dropped. It was just me and the beautician. She spent about an hour on my nails then charged me $25. During that hour, we talked about her business. She rented a chair. Some of you beautician out there, known what I’m talking about. Half of what she earned went to her rent. So, that left her with $12.50 (not including some unknown tip she might receive). Of that $12.50, she had to buy all of her supplies except for the nail color. She was responsible for driving to work, having professional clothes, keeping her hair and nails nice… all on this $12.50.

I thought to myself, wow! This is an independently contracted business woman, who rented a chair. She spent an hour of her time, providing me wonderful service and charged me less than half of what other nail beauticians had charged me in the area for an hour of their time. Yet she talked about money being an issue.

Know the value of your service, and don’t be afraid to charge a fair price for your time.

What’s the answer?

I know I went off in a few directions. However, I’m going to tell. There is no best home based business. Take what you know. Take what you’re passionate about doing. And run with with it. If it’s a home business, then go for it. At the same time, make sure you’re paid well for what you do.