A Self-Employment Brainstorm

The other night I was chatting with a friend who has two babies. We were brainstorming the possibilities for home-based businesses for moms or dads who stay home with the kids. Running a daycare would be a “stop-gap” she said – barely bringing in enough to make it worthwhile.
 
I've also heard ideas on the complete opposite end of the home-based business spectrum. My old roommate, for example, wanted to start a Web site called “pantyfarm.com.” God only knows what the repercussions of that would be.
 
In all seriousness, home-based businesses are something I am interested in because, like many of us, I find myself every year moving further away from regular employment, and faced with consultancies and cut hours. On the upside, this shift in the kinds of work relationships I have open up possibilities for me to be more flexible and resilient in my ability to earn.
 
And, according to expert Charles Handy, more of us will have to become entrepreneurs “now that life is longer and organizations much slimmer.”
 
Idea #1. Making something and selling it. My friend, the one with the babies, makes her own diaper cream. I know another girl who makes her own deodorant – no aluminum, just homemade goodness. People knit winter hats, or sew quilts. I don’t have time to make this stuff, but I would definitely be interested in buying it (except for the diaper cream, since I don’t have children. Or wear diapers). These innovations don't have to be just about saving money. A third friend (and expert seamstress) is making wedding dresses in the summers to help defray the costs of graduate school. If you don’t have your own network, Etsy shops could be a good start.
 
Idea #2. Selling other people’s stuff. Tupperware parties, lingerie parties, jewelry parties, Longerberger basket parties, wine parties. I’ve been to a lot of these gatherings, and I find that the people who are most successful at home-based selling are the people who love people. They are the natural hosts and hostesses, the ones who enliven a room with their energy, they are the people others always want to be around. If that is you, then power to you. I also had a classmate who turned her wine blog and email network into an advertisement business. Now she sends us emails with advertisements and promos for area restaurants. They pay her because we trust her. So start blogging!
 
Idea #3. Selling ideas (consulting). A few months ago, I stumbled across the Web site of a writer and editor, like me, except that this woman has taken her expertise and turned it into a home-based writing and editing business. She’ll read your manuscript and proofread or copy edit it. Maybe college students in your neighborhood would appreciate your review of their thesis in your area of expertise? Similarly, perhaps you read about the unemployed 28-year-old John Morefield, an architectural designer who was selling his services at the local farmer’s market for 5 cents per conversation. The chats got him so many jobs, he made more than he was making at his previous firm.
 
Idea #4. Freelancing. It might be hard to place articles in magazines and newspapers these days, when content is moving toward free. But you can target niche markets in which you have expertise. Parenting magazines, science and technology magazines, affordable housing magazines (yes, they exist), might just be waiting for your pitch. Also, if you can report, local papers might be willing to take you on as a freelancer. The fees may be small, but they can add up if you target a few papers and write regularly. And these are just writing projects. You could freelance any kind of expertise, really. I could have pasted Moreland’s story here.
 
Idea #5. Selling Real Estate. This idea requires getting a license – taking a course and an exam and shelling out about $500. But it can bring in a lot of extra money depending on the market where you live.
 
Idea #6. Buying Real Estate. I have no idea how this one works and real estate terrifies me. But a friend of mine in Philadelphia is taking advantage of the economic downturn to make herself a real-estate mogul: the much-hipper, much-younger Donald Trump of Philadelphia. (If I exaggerate it's only because I'm proud). She owns two properties in Philly and just signed the loan on her third. In her first house, the one she lives in, her 'rent' goes into the value of the home-- a clear benefit for anyone shelling out precious income on housing. In her second (and maybe third) property, the tenants pay for the mortgage. Of course, this takes long-term planning and lots of savings, and there are risks involved. But I see her "job" becoming less important as she builds her empire. One word of caution: In addition to a mortgage, there are taxes, closing costs, maintenance fees, condo fees etc. to factor in when determining whether you can afford to own a home (or three).
 
Idea #7. Teaching yoga or exercise classes. Again, this requires a certification. Yoga teacher training courses can last anywhere from 1 month to 6 months depending on the program, and can cost between a few hundred and a thousand dollars. Other programs are offered online, though you will want to do your research on them. I’m not sure how good, or how well recognized, the online programs are. If yoga isn't for you, when I was living in the North End of Boston, someone gathered people in the public park for boot camp exercises. I saw signs advertising the service in the local coffee shop, and then would see about 15 people doing push-ups on my walk to work in the morning. If they each paid $5 per session, that’s $75 for one hour of exercise you were probably going to do anyway.
 
Idea #8. Writing novels. Okay, this one is a personal dream of mine. And it may seem unreachable, but others have done it. In her 2008 speech at Harvard’s graduation, the world’s first billionaire author J.K. Rowling talked about how she was a single mother with no prospects when she sat down to pen Harry Potter. Harry Potter was great because it had to be great--she had no other options. While others of us are distracted by our day jobs, she had the courage to put her heart into a nearly impossible dream and she broke boundaries. And Stephenie Meyer was a stay-at-home mother of three when she penned her fantasy for grown-ups story, Twilight, a bestseller in 2005. Since then, Meyer has published four other novels, and her series is being turned into top-grossing films. True we can't all be J.K. Rowling or Stephenie Meyer, but if we are so inclined, we can create something beautiful--and maybe earn a paycheck or two along the way.
 
So this is my brainstorm. Some of the ideas above are things I see other people doing. Others are things I’d like to do. Add your thoughts--I’d love to hear them.
 
If you liked this piece on creating your own work, you might be interested in reading this profile on Darley Newman, a young entrepreneur who started an equestrian-based travel series.
 
(Photo from myyogaonline; C.C. 2.0)