It can be lonely. Without the camaraderie of coworkers, you can occasionally feel isolated and alone. Now, some of us may work best with fewer distractions, but even then, from time to time we like to share a joke around the water cooler or bounce an idea off a colleague. You may want to schedule socialization time during your work day. You can work from the local coffee shop for a couple of hours, plan to attend a monthly networking meeting, or meet a client face-to face. Just don’t spend every work moment at home by yourself.
Expansion is limited. If your goal is to stay a sole practitioner, this is not a problem. But if success for your business requires additional employees, you will likely outgrow the space you have at home. Moreover, do you even want employees in your home? You sacrifice a great deal of privacy and personal space when you allow others to work with you, especially if you don’t have dedicated space in your home.
A friend in Boston made a living doing this. He had lived in the Netherlands and was fluent in Dutch. He contacted companies who sent people to the Netherlands to work and live, and offered to provide not just his language expertise but important information on Dutch culture and living in the country. It worked. If you’re from or have lived in another country, consider channeling not just your language but your cultural expertise into a new career.
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Find your niche partners, collaborators, and champions: As you’re creating your course, look for notable people who are also creating content in the space. Look att how their businesses operate and incorporate that into your own plan. You can also reach out to any influencers and make them affiliates for your own course. This way, they’ll be incentivized to share your content with their own audiences (which can be a major way to generate your first sales—it helps if you're using one of the best CRMs for small business—and start building your own community!)
Drop shipping is another great ‘hands-off’ way to sell products. Firstly you will need to find businesses that sell products in your niche that offer a drop shipping service. Then you will need to create a website promoting and selling the products. When you make a sale, you take the payment on your site and then the manufacturer ships the goods to the buyer. The profit comes from charging a higher rate than the manufacturer, and if you are selling a high number of products this can quickly add up to a healthy revenue.
“Many people talk about ‘finding’ a niche as if it were something under a rock or at the end of the rainbow, ready-made. That's nonsense,” says Lynda Falkenstein, author of Nichecraft: Using Your Specialness to Focus Your Business, Corner Your Market and Make Customers Seek You Out. Good niches don't just fall into your lap; they must be carefully crafted.