Consulting has always been a good model for a home-based business. Consulting is a business model where the business person is an expert on some subject and makes his or her living by advising others on this subject. Often the “advisee” is a business as well, so B2B consulting is a potentially large market.
Subjects that are good for consultants vary widely. One big advantage is that depending on your expertise in the subject area, you may be able to step right into the role of consultant. This is particularly helpful in today’s economy where jobs are drying up and people are still getting laid off. Resourceful people can use the knowledge gained from their employment years to build up a consulting business.
Another advantage to a consulting business is that it doesn’t cost much to set up from home. Like most home-based businesses, your overhead can be held down at the start while you build up your business. Depending on your situation, you may need to acquire certifications or qualifications of some kind to authenticate your expertise. These can sometimes be expensive. If you are employed in your field of interest and plan to go out on your own someday, try to get these certification while you’re still under your employer. That way, you can use them later when you strike out on your own.
If you are considering a consulting home business or already have one, here are a few good consulting resources for you.