Last time, in What is the Best Business to Start?, I shared some tips on how to identify the kind of business that is right for you. And I told you about some of the growth industries that are ideal for new business start-ups.

Today, I want to share a list of some of the best home-based business opportunities.

These small businesses require little start-up money, have few licensing requirements (in most cases), and can be done in your own home by yourself without having to hire additional help (unless you want to, of course):

• Internet Marketing – Selling products and services on the Internet via email, a blog, or web site.  Lynn Terry’s Self-Starters Weekly Tips is an excellent resource for anyone wanting to build an Internet-based business from start to profit.  For web domain name registration and web site hosting, we recommend Bluehost, GoDaddy, or Host Gator.
• Personal Organization – Helping others organize their personal and/or work life. [Read more…]

In my last post, Is now a good time to be your own boss?, we explored the growing trend of laid-off workers in America, especially 40- to 60-year olds, who are giving up the job search and starting their own business.

If you’re unemployed, there are several good reasons why it may make sense for you to start a small business instead of finding another job:

1. The average job search lasts a year or more, so in the time it takes to find a job, you could get a great start on your own business.
2. If you do find a new job, you’re still at risk of another lay-off…maybe even more at risk because now you’re one of the newest employees.
3. Chances are good that your new job would likely pay less than you were making before.  By starting your own business, you’ll have more control over your earning potential and your financial future.

But even if you’re happily employed, or feel trapped in a job you hate, if you’ve ever wanted to strike out on your own, now may be a great time to start a business.

What is the best business to start in a down economy?

So, what is the best small business to start in a down economy? It really depends!  You probably figured I was going to say that.

There are several different kinds of businesses, and the one that’s right for you will depend on several factors, including your current financial situation, the economy or market in your area, and your personal passions and interests. [Read more…]

Is now a good time to be your own boss?  Apparently, it is for 40- to 60-somethings!  A recent story in my local newspaper reported that more 40- to 60-somethings who lost jobs in the recession are now working for themselves.

What’s interesting to me is that many of these folks, when they started their careers 20 or more years ago, figured they’d be financially set once they got into a good company.

Back in the “good old days,” many people basically worked for one place their entire lives.  Not so today!  These 40- to 60-somethings, who grew up under that old reality, have watched it quickly disappear.

More middle-aged and older men, who lost their jobs during the recession, are starting businesses than woman, or people in any other age category.  The reason is that about 80% of the jobs lost nationwide in recent years (in manufacturing, construction and other male-dominated industries) were held by men. [Read more…]

What’s the best way to build wealth?  Is it to work for a top company?  Own your own business? Or is it something else?

Success expert Brian Tracy, author of “Getting Rich Your Own Way”, says there are basically five ways that you can build wealth starting with nothing in America, based on over 25 years of research into American millionaires.

1. Inherit it – Less than 10 percent of wealthy Americans inherited any of their money, and it’s becoming less and less every single year.
2. Achieve it Professionally – You can become a doctor or a lawyer or an architect or an accountant. You can become extremely good at what you do, be paid very well, and hold on to the money.
3. Become a Senior Executive at Large Corporation – You can be highly paid; you can have stock options and bonuses. And if you stay with the company long enough, you can become wealthy.
4. Win it – But only a tiny fraction of one percent of wealthy Americans got that way by winning their money. As a matter of fact, the odds against you winning the lottery are [Read more…]