They say that fortune comes to those who’re willing to take risks and work hard – but there’s no reason an up-and-coming entrepreneur couldn’t do the hard work from the comfort of their home. According to a recent survey, there are over 38 million home businesses in the U.S. which generate 427 billion USD annually, and 70% of them stand a solid chance of succeeding within three years, compared to 30% of their brick-and-mortar counterparts. Based on the current market outlook, more and more profit-hungry professionals will be jumping on the at-home business wagon in the years to come – and you, too, could be one of them. If you feel ready to put your luck and professional skills to a test, here are a few smart business ideas you can act on this year and make a small fortune from your living room couch.
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The Armchair Stock Broker
Stocks may be whimsical critters, but with a little prep work, stock market ABCs, and eagerness to hustle, you can make quite a fine figure trading stocks. You don’t need a huge initial capital to get started – but what you do need is to keep your eyes on the stock prices on a daily basis and make the most of every chance the market deities may throw your way. Expert tip: there are many webinars and e-books on stock market dealings, so you can gather the necessary info without so much as getting up, either free of charge or at a low price. Who knows, you may yet turn out to be the next Wolf of Wall Street!
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The Franchiser’s Diamonds
If you want to make money abroad without leaving home, try franchising. A franchise is a license or formal agreement which entitles one party (the franchisee) to market a service or product under the trademark of an established business (the franchisor). As a franchisee, you’ll be able to sell literally any online service ranging from education and psychological counseling to digital marketing and business support – for as long as you’re good at it, that is. Nevertheless, it would be wise to run an in-depth market research before you jump on the franchising boat: that way, you’ll avoid losing an arm and a leg to fierce local competition.
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Become a Real Estate Shark
The property market is up and growing fast across the world, and you, too, can scoop the profits as an online real estate dealer. You’ll need to learn a few things about the real estate hoops but it’ll be time and effort well-spent once interested investors begin to line up for a virtual tour of the estates in your portfolio. Pro tip: if you want to earn a fortune fast, be careful when calling the commission shots and set the fee benchmark slightly lower than average, as it’ll attract more potential buyers.
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Affiliate Marketers’ Ka-Ching
If you have a solid understanding of SEO and web design, your career in affiliate marketing is as good as baked. Still, don’t go in hoping to draw overnight success: pick a niche you’re interested in and start small, focusing on a handful of great products rather than oodles of average-quality ones. To make the quest for peak profits easier, you can sign up for a program on offer with a trusted company or join forces with a partner you truly can rely on. With a decent amount of preliminary research, lots of hard work, and a bit of patience and luck, you may make a small fortune in affiliate marketing within a year or so.
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Fortunes Built on Micro Loans
Micro loans are a huge hit in many countries, and you, too, can get your foot in the microfinance door without having to actually travel abroad. Of course, you’ll have to run background checks on each potential applicant to stay on the safe side of the bank account and you’ll need a decent amount of patience before you claim your profits, but microfinance is one of the best and safest sectors if you don’t want to be handcuffed to an online job 24/7. If you decide to dive into the micro finance banking waters, be prepared to extend safety assurances to depositors: those guys have grown extremely wary of high-risk ventures and will test your credibility before they show you their cash.
Making a fortune doesn’t necessarily require years of stress and slaving. Although most serious business ventures will call for a hefty share of research and forethought, there are various ways a success-driven professional can earn their weight in gold – and without leaving home, no less. Good luck!