Homepreneur – A New Age Business Trend

Many homeowners dream about transforming a room in their house into a space dedicated to doing something that they are passionate about, but how many actually think of it as a possible business? Do you have a skill that you consider more than just a hobby? If so, then it’s possible you can turn your passion into profit. Homepreneurs is an emerging trend that has the potential to accelerate over the next few decades. Fueled by social media technology such as the new smartphones and tablet PCs and aided by minimal initial investment costs, these potential moguls are realizing there’s no place like home.

The Small Business Success Index project is an excellent resource for understanding small business trends. According to the SBSI, there is an estimated 6.6 million home-based enterprises which are no longer viewed as less effective than the large corporations. This new age business trend is enabling individuals to create jobs for themselves all from the comfort of their homes.

This movement is heightened by the fact that: (1) many big businesses are cutting costs by downsizing; (2) the job search today is posing difficulties for everyone; (3) individuals who fear being laid off are creating a Plan B for themselves; (4) people want to escape the rat race and tap into their creative side and do something they really enjoy; or (5) people are searching to either supplement their income or replace their lost income.

What types of professional careers are suitable to work from home?

These individuals, for example, can be online retailers, seamstresses, day care providers, freelance writers or massage therapists. No matter who they are, there is one key common denominator and that is they work from their home or studio. Other home based professionals can do most of their work via email and telephone or who don’t necessarily need to interact with others in person to get their work done.

So, how does a person prepare themselves for this type of professional career change? The first step in preparing yourself is to make sure whatever you decide to do, you adopt these characteristics going forward:

  1. You are passionate about whatever it is that you will be doing; and
  2. You are a self-starter, motivated and independent;
  3. You must be dedicated, determined and disciplined to succeed in this role with limited or no supervision.

On average, most individuals who work from home, report higher incomes than their office counterparts because they are in control of their salary increases, not their employer. When your workload at home increases, it directly affects your income and you get paid more as opposed to your office counterpart, when their workload increases, they usually don’t see a pay increase.

Is it possible to make a decent living with your new-found professional career? Yes. However, work from home employment may sound easy to do, but it’s not simple in execution. If it was simple, everyone would be working from home. It takes the kind of discipline, dedication and commitment as a professional athlete or dancer.

Learning how to become a homepreneur comes with great benefits. You can support your families’ financial needs and satisfy your personal needs as an individual. You can always find something that fits your schedule and your lifestyle and spend more time with your family. Once you find the right fit, then you have found a work from home position you love and the rest of your life will be the one you’ve always dreamed of.

New Business Trends

The current economic slowdown has meant that seeking the conventional route to establish a strong business organization is much more difficult. With mainstream goods and products showing a decreasing rate of consumption, seeking an alternative route to achieve success is a viable option indeed. Following the recent trends in business has become a major subject of business management and business journalism and even small business organizations can benefit from keeping abreast with the latest business trend. With an eye out for future business invents, let us take a sneak peek into the latest business trends ruling the market.

1. Internet: – The current Internet industry draws large parallels with automobile industry at the beginning of the last century. While only a few automobile companies really went to do something big, most companies benefited from the growth at some point of time or the other. The Internet today no longer represents an academic repository or an entertainment avenue but a serious business platform where poetic rags to riches stories are still possible. The likes of Youtube, MySpace and Facebook are testimony to this fact and there is still an awful load of cash to be made for the World Wide Web. More and more corporations are tuning into advertising online and with Internet penetration growing by the year, establishing an online business corporation is the way to move ahead.

2. Youth Market: The rise of the Internet has also seen the youth market grow up in leaps and bounds. The power of generation Y cannot be underestimated in the modern world and big corporations like Pepsi and Coca Cola have benefited immensely from this avenue. With growing incomes and smaller liabilities, the teenage market represents a huge opportunity to establish a brand as exhibited by body building magazines and food products in recent years. The current automobile industry sees a lot of prospective buyers from the youth market and with this trend is only expected to move upwards in coming years.

3. Going Green: – With the rising concerns of global warming and environmental pollution, going green is an option to be considered by future investors. Recent surveys have found that nearly 71% Americans believe in the consequences of global warming and are ready to put in an effort to do something about it. The growing number of hybrids and alternate sources are a testimony to this fact. More and more organizations are looking for alternate sources to make up for rising fuel costs and simple business ideas like installing power saving devices for corporations are expected to be highly successful in the years to come.

These new trends will have a major say in deciding the direction of economic and money flow in the years to come. Investing in these avenues will indeed yield much dividends and a large market stake in the years to come.

Top 10 Entrepreneur Business Trends for 2010 and 2011

One of the biggest challenges facing established entrepreneurs and new business start-ups is finding a target market that really has the money to spend on services and products. What types of businesses are thriving in this economy?

The good news is that there are quite a few and there is still a lot of money to be made out there! Hopefully this top ten will allow you to either branch out your existing business or start one from scratch. Even if your current business or idea has nothing directly to do with any of the popular business trends I list, I’m pretty sure you can find a ‘hook’ that will draw people to what you’re doing.

1. Economic Downturn

Who’d have thought that economic downturn could lead to economic upturn for some folks? Let me explain… More people who have found themselves unemployed, or on the brink of it, have decided to just bite the bullet and be their own boss.

This opens up a wealth of opportunity for business coaches, distributor agents (those who want to get people on their team to distribute products and services), as well as Virtual Assistants and the like.

The downturn has also meant that many new business start-ups are looking for ways to build their business on a minimum budget. This could simply mean getting special deals from companies to buy products or services for their business as well as joining with others to collaborate in projects so they can share leads, and both parties can build their business’s further.

2. Green Living

Do you remember years ago, say early 90’s, when people started to talk and use greener ways of living? Back then recycling wasn’t the norm and we weren’t as aware – nor did we care much about the fact that using energy like it was going out of fashion would harm our environment and strip our bank accounts with increased running costs.

You have to admit that most of us only paid attention to green living when we understood the environment better or when we realised our utilities bills had hit the roof. More people are recycling, down sizing, and getting to grips with self-sufficiency.

Green living is the 2nd most popular money-making business trend this year! What does this mean for you as an entrepreneur in this niche? Some smart utilities providers are cashing in big – saving people on their fuel bills to make them more economical to deal with – and whilst you may not think this is directly ‘Green’, putting all your bills on one piece of paper does help!

But there’s more – budding fruit and vegetable growers are advertising workshops to show people how to grow their own fruit and vegetables on small plots of land or indoors, and with ‘organic’ being the buzz word of the year they’re finding this as an amazing opportunity to make extra cash by selling what they grow.

Self-sufficiency courses were just making a mark this year, but they will be big in 2011 as more people leave the cities and branch out into the country. These courses are not just about growing your own fruit and vegetables; they also give information on keeping your own livestock and building your own barns and chicken coops to keep them in.

3. The old Folk

Whilst it may seem rather odd to put this on the list, the data speaks for itself. The ye olde folk spend money on lots of things. Not just health care and well-being products, but also on fun things too! Senior citizen dating for instance (why should the young ones have all the fun?), holidays, and keeping fit. And whilst it may be true that lots of elderly people struggle financially, there is a high percentage of them who are not and are living every day to the fullest.

Technology courses based in home or with transport provided, have been popular as more seniors find that email and social networking is a great way to keep in touch with their families and friends world-wide. But a word of caution to any business owners in this niche: It should go without saying, but I’ll go ahead and say it anyway – treat the seniors with respect.

If your product or service fails to deliver, they won’t be scared to tell the whole world and its wife about it. More over, they deserve to be treated as well as you would treat any other customers – like royalty.:)

4. Retail Discount

Saving money in this economy has never been more important, so it stands to reason that retail discount is big business.

From voucher code sites to budget friendly stores, they are booming now, and if you’re in the retail niche it would pay you well to have something installed either in-house or online, which would give your customers savings on their purchases.

Once again, private utility companies are thriving as well as low-cost fashion and food chains. One entrepreneur I know offers the service of building a shopping program for families who want to save money on their bills and this includes taking them shopping and utilising coupon sites. What an excellent idea!

5. Buy Local

Small stores are seeing an increase in customers when they start to supply fresh, locally grown produce and goods. From vegetables to home-made wine, the local store who is stocking these things is seeing an upturn due to the ‘healthy living’ mantra and the boom in farmers markets popping up all over the place.

Consumers are realising the nutritional and cost benefits of buying their food and condiments this way, and there is also a certain satisfaction when you know these goods are grown and made in your own country. Even the big gun retailers are seeing an increase in profits in their ‘locally grown’ sections.

Once again, this all ties in with the greener way of living that many people are drawn to. If you’re unable to grow your own – buying locally grown is the next best option.

6. Education

As I said before, the loss of jobs in the latest recession has meant that many people want to learn a new skill, so it makes sense that the education sector has seen an increase.

Depending on where you are in the world and the budget you have will dictate going back to university or doing a short course to learn what you need to. Interestingly enough, coaches like me are seeing the most growth when we actually teach people how to do something directly.

Passive coaching isn’t really needed as much as direct skill coaching. In effect, we are teaching people skills in areas we are well versed in – and of course we have the added benefit of goal setting with our clients and monitoring their progress. But let’s not forget we also do what many standard teachers don’t, which is to encourage and work at the pace of our clients’ attainment.

Education should really be higher up the trend scale, because as we’ve seen, all the trends listed so far have the potential to be teaching subjects themselves.

7. Parent Outsourcing

Hiring someone to coach your children in sports, tutor them in subjects or hobbies, cleaning your house, buying your shopping, as well as other chores such as laundry are not new but it seems now more than ever parents are finding they need extra help not only for their own benefit, but the benefit of their children – especially when it comes to one-to-one education tutoring.

The benefits are not only practical but also having these things done by someone else means you have a more productive day and are able to spend more quality time during the weekends with your family. These things are no longer considered a luxury either.

In the time it takes for someone to clean your home, help your child with their homework and pre-cook a few family meals, you could have sourced some leads and landed some clients which ultimately benefits you and your family long-term.

8. Health and Wellness

If you’re in this industry you should be laughing all the way to the bank. From exercise, natural remedies, to nutritional eating plans – be sure that this market is still doing well. If you’re not doing so well in this market, you need to re-assess how and who you are marketing to.

This niche is a money-maker and the key to success in it is to be passionate and authoritative when delivering your product or service to people.

9. Budget Booze

In a bid to save money many of us are ditching the pubs and clubs and heading home with our goody bag of cheap booze from the supermarket or local store.

Obviously in moderation, the odd bottle of what you fancy doesn’t hurt, but more over what are the opportunities to grow a business based on your expert knowledge of quality cheap alcohol (wine or beer for instance) and sell it on a larger scale?

I do think this niche needs further investigation and the entrepreneur who focuses on this target market needs to mix education and sales patter in order to find a long-term profitable business model.

10. Pets

We love our pets. I have spent no end of money this year on my tropical fish collection. Buying new tanks, equipment, ornaments, heaters, food, and aquatic plants.

They are living the life of luxury! It makes total sense that this industry is still doing very well indeed.

For job opportunities I would avoid the pet shop route and go for something that is either based online and enables people to buy pet based products (as well give them vital care information), or something more hands-on like training, vacation pet care, or pet enthusiast workshops.

Even a re-homing of pets that are abandoned or those that can no longer be cared for is a great market and would tie in beautifully with training and pet care workshops.

These trends and target markets are obviously the most popular, but that doesn’t mean you can’t find your own unique way to make them work. It’s all about stripping it down to the bare bones and finding the right audience to showcase what you’re offering. Good Luck!

Top 5 Business Trends in 2011

By now, most entrepreneurs have their  business goals written down with specific measurements as to how they’re going to accomplish them in 2011. Prior to the end of the 2010, these same entrepreneurs took time to take note of all the mistakes made in the previous year and determine what can be done differently in the following year. Depending on the type of year you had, rough times may call for drastic measures. Therefore, it’s necessary to understand and be in “the know” by asking yourself how you measure up with other business competitors by learning the latest and greatest business trends. Take a look at Futurepreneur’s Top 5 Business Trends to investigate and see how your business measures up.

Social Media Marketing 

Social Media Marketing will continue to rock! Operating a small business can be challenging, but  joining the social media revolution is well worth it. Social networks like Twitter, Facebook, and LinkedIn and don’t forget YouTube are becoming standard operating procedures as real time marketing strategies for many companies. Theres no way you can deny not having the opportunity to market your business through to Facebook with over 500 million  and 200 million mobile active users strong. Believe it or not, small businesses are catching on too by using blogging, tweeting, and Facebook as their key presence on the web. In fact, companies are hiring social media consultants and social media experts to their personnel roster. So what’s next, adding social media marketing as a major in college?

Hand Held Treasures (Mobile Devices)

Are you addicted to your iPhone or your iPad? Nowadays, carrying a laptop is obsolete, especially when you can do everything on your mobile device (email, search the web, and update your tweets and FB status). In fact, a Forrester study shows that 49% small business owners use smartphones. Using mobile advertisements, creating mobile applications and offering mobile payment options are just a few ways that mobile devices are changing the way that companies are doing business.

Bootstrap Financial Strategies

Doing more with less is evident in today’s economy. Everybody’s feeling the crunch. So downsizing the budget and realizing that “hey we survived just fine” provides ongoing incentives to continue with bootstrapping your way through as a viable financial management strategy. So what helps? Finding ways to cut cost and doing it for less, so when the economy picks up, you’ve already adopted good cost containment solutions to maintain a steady cash flow. Start-ups aren’t going to banks…because they can’t. Asking friends and relatives to fund your small business instead of using traditional lending options are great alternatives.

Go Green!

“Go Green!” To know what that means is a step up from last year. If you want to get ahead, start educating yourself on the efforts involved in the “going green” phenomenon. Whether it’s providing energy efficient solutions for your clients or including energy efficient mechanisms inside your business, either way, don’t miss out on the growing epidemic. There are all kinds of creative ways to include green initiatives for your products and services. For example, I use hair products owned by a local hair salon. When I run low in consumption, I simply take back my empty bottles and get them refilled. Doing so allows me to receive a discount (which is more cost effective than buying a whole new set of products) and it allows the company to decrease the number of plastic bottles used to distribute their product to their customer. It’s also no secret that the federal government will spend an estimated $19 billion by 2015 on green hardware and cloud computing to reduce energy consumption.

Health and Fitness

While most of us have cut back on expenses, many of us haven’t canceled our gym memberships. The fitness industry is continuing to explode and with the new healthcare initiative, health and wellness will continue to grow with enormous business opportunities. Fitness clubs and health stores are now a $14.4 billion industry. WOW! Take a look around and take notice of how health conscious our country is becoming (i.e., TV infomercials, low-fat items on fast-food restaurants, low-cost gym memberships, child obesity programs, etc.) Even the video game industry has tapped into this industry with fitness videos available to play on your Xbox 360 Kinect or Nintendo Wii consoles.