Does your home business need a little more diversity? Is it time for your service-based business to offer a little bit more?
My home business offers a service. I make money by providing writing services to others. It’s been a good business for me, and I enjoy being a solopreneur. I like writing, and the fact that it allows me to work from home and set my own schedule.
In fact, I like writing so much that last year I declared,?[easyazon_link asin=”149361116X” locale=”US” new_window=”default” nofollow=”default” tag=”moneyseed-20″ add_to_cart=”default” cloaking=”default” localization=”default” popups=”default”]in my book[/easyazon_link], that writing is?all I offer in my home business. I’ve got a niche, and I’m sticking to it.
Except I’m not.
As a home business owner, I recognize that things change, and that I need to be a little more flexible, especially since I offer a service. What happens when market is saturated, or if people don’t want to hire freelancers anymore? (Ok, that last is far-fetched because the indications that the economy is moving toward part-time, freelancing, and temp work.) The reality is that the business environment changes all the time, and I’ve recently acknowledged that, as much as I’d like to sit in my chair and do nothing but write, I probably ought to branch out a bit.
Diversifying Your Home Business Offerings
Business owners that offer tangible products often have more than one item to sell. The same should be true of service-based home businesses. After considering my situation a couple of months ago, I came to the conclusion that I should probably tweak my business model.
I’ve done what I never thought I’d do, and I’m going beyond writing. I recently ran a blogger campaign, and I’d do it again. Not only that, but I’ve had a couple experiences recently with presenting and speaking, and I think I’d like to do more of it. I moderated a panel at FinCon this year, and I also ran a couple of personal finance workshops for local organizations. Not too long ago, I also presented a webinar on freelancing. These experiences were enjoyable, and I received positive feedback from participants who said that I provided them with something useful. I like the idea of using my knowledge in this way to make money as part of my home business. (Translation: I’d love for you to pay me to run a workshop or seminar, or to speak at your event.)
A couple years ago, I did a little consulting, and more recently I’ve worked extensively with a couple other people, coaching them through transitions from the rat race to the wonderful world of freelancing. When I was given the opportunity to consult through Emissary because of my writing on AllBusiness, I decided to give it a try again. I kind of like it. So I will likely try to do more of that.
There are lots of opportunities for a longtime service provider to branch out with a home business. The knowledge gained, and the practical skills built up, mean that there are plenty of ways to capitalize on that knowledge. While I’m probably not going to be raking in huge figures with these other side projects, some of them have already provided me with a tidy bit of extra income, and I feel a little more secure in my career knowing that there is a bit of diversity there.
If you have a service-based home business, it might make sense for you to look at your current business model, and ask yourself how you can expand and diversify your offerings. You might be surprised to discover that there are people willing to pay you for your time and knowledge — especially if you can impart it in an authoritative and interesting way.
