- Who you plan to sell to
- What you plan to sell
- How you plan to sell it
Let's consider some business ideas starting from each point.
Who you plan to sell to:
Say you are involved in the model railroad hobby. You might know a lot of model railroaders both in person and online, so that might be a good group of people to sell to. You might want to narrow it down further to a sub group like N-scale modelers or narrow-gaugers. Then you'd do some research to find out what they most want and have difficulty finding or buying, in order to decide on a product.Other "Who" possibilities... moms with babies, teens into a certain type of music, trout fishermen
What you plan to sell:
As a model railroader, you might be an electronics whiz who has worked out an easy way to light model passenger cars. Maybe you could develop this into a product.Other "What" possibilities... a cookbook, book-keeping service, new kind of widget...
How you plan to sell it:
You might be housebound for health reasons, but you spend a lot of time on the computer. You know you want to sell something online - now you just need to work out what and to whom.Other "How" possibilities... from a retail storefront, mobile delivery service, mail order catalog...
Wherever you start, all the angles need to be covered before your home based business idea can become realized.