Lesson 5 - Starting Home Based Business

Lesson 5 - Starting Home Based Business

Computer-based Home Business

When choosing to start a home-based business there are a few things that you must always keep in mind. First, always explore all your options before you make up your mind about which business to get into. Second, figure out which business appeals to you the most. Third, choose is a business that is personally and monetarily satisfying. Fourth, understand every aspect of the business you wish to start up and make a layout in your mind, to see if it can fit in your home comfortably. Finally, ensure that you comply with the zoning laws and ordinances in your area and check with an insurance agent to see if you need coverage for your business.

Deciding to run a home based business is never easy; in fact it can be more difficult because it takes more time and effort to run a successful business. A great way to make money is to start a computer-based home business. This business can be a computer repair service, a computer consultancy business or an online business (like web designing, desktop publishing, website editing, search engine marketing or online surveys). You can also be an information broker, a virtual assistant or an online retailer. Listed and described are two options of computer-based home businesses that are easy to set up and profitable.

Computer Repair Service

An increasing number of households and businesses are embracing technology which is increasing the demand for repairing computer hardware and software. As a home based computer repair technician your job would entail the maintenance and repair of computers at your own home or at your client's office or residence. You would be required to know how to do such repairs as changing motherboards, data recovery, repairing network problems, removing viruses, installing software, troubleshooting modem and communication problems, repairing notebooks, etc. You success depends upon your skill, knowledge and technical ability. This is a service-oriented business, which means you will also need to provide a high level of customer service to maintain your client base.

To develop your technical knowledge you can read books, take courses on computer repair, watch videos or get hands-on repair experience. Computer repairing is one of the highest paying home businesses available. You have the potential to earn up to $60,000 a year. Some expert computer technicians can charge as high as $85 an hour plus fees for traveling and services.

Computer consultancy

A computer consultant helps companies and organizations realize the profitability in computerizing their office systems and help in solving information management problems. Computer consultants typically serve two functions, selecting the appropriate computer system (including peripherals) and integrating computer usage into the daily management of a company. Business requirement analysis, preliminary system design, hardware acquisition and installation, system maintenance, periodic evaluation and audits all come under the job description of the computer consultant.

To open a home-based computer consultancy service you need to have a strong background in computers, especially database management. This is a very competitive market and the potential for profit is quite substantial. Computer consultants charge $75 - 150 per hour depending on their expertise. Your annual revenue can be as high as $250,000 a year, depending on your specialization, as a hardware or software consultant.