Starting a home based business is a good option for those who want to have a great work life balance. Care should be taken to make sure money is not poured down the drain in the name of starting a business. People preach the many pitfalls that can be avoided and the wise do take heed and tread with caution.Is it all Doom and Gloom?The fragile world economy features in the news everyday and so does how things are expected to get even tougher. A lot of people are anxious about how to support a decent lifestyle. For most families it is almost impossible to cover expenses on two salaries with increase in food costs, household bills and other basic needs. A home based business is a great consideration for anyone who wants to supplement their income or create flexible working hours to meet family demands, get rid of unemployment or solve other issues.Working from home is a great way to earn some extra income and for some people their entire income comes from their home business. The best thing about this type of set-up is the low start-up costs. A home based business is not as easy as it sounds though; it requires a lot of planning with the right knowledge and skills.Pillar 1 – If It Is Too Good To Be True It Probably IsYou probably have seen a lot of adverts online about how someone made £10,000 in one day. We will all like to strike it lucky and find that deal of a lifetime. But beware, if you are thinking of working from home, do not get sucked into these false claims of making millions in a few months. There are businesses that generate a healthy profit but think about it, if those claims were true everyone will be doing it.Consider the risks involved before you take up any offer for a home based business. Carry out adequate research about the business before you commit funds to it. Search yourself, if this is what you really want to do or if you are doing it for the love of money. Remember the love of money can only satisfy temporarily.Pillar 2 – Start with Minimal CostStarting a home based business should not cost the earth. Just because you are not renting an office space, does not mean you should blow your budget on a state of the art computer system, an executive desk and a recliner chair with a built in massage service. Manage your budget effectively especially when starting off as money may not come in immediately but bills still need to be paid. Beware of the stationery habit; it can spiral out of control especially for those who work from home.Pillar 3 – Dream Big Start SmallDon’t bite off more than you can chew when starting a business from home. Consider your working hours, family schedule, space within your home and other important factors before you commit to your customers. Do you have the space to store the raw materials for your products? Can you manage more than 10 clients a month without impinging on family time? These are some of the important factors you need to consider when you start your home based business. Remember your business reputation is at stake if you do not deliver on your promise.Pillar 4 – Easy MaintenanceMany people who choose to work from home are probably tired of the status quo. So why complicate things even further by setting up a home based business that is too complicated to run. This opportunity should give you the chance to follow your passion and run a business too. Working from home should be a pleasure not another daunting task you hate to wake up to. You should set things on your own terms and within certain guidelines. If you intend to laze about the house and pretend to be working, you might as well stay in your current job. It takes a lot of dedicated hard work to get any business off the ground – a home based business is no exception.All these pillars might sound like child’s play when it comes to starting a home-based business, but one wrong turn can lead to a frustrating experience. Make sure you follow your passion when starting a home based business and understand the basics of running a business. Consider the 4 pillars stated above in addition to other relevant information when starting out to help you stay on the right track and enjoy the process.
Top Home Based Business – The Best Way to Work From Home
Most people would love to work from home. Well most people would love the idea of what working from home is and what it gives you. That is, time flexibility, financial freedom, being your own boss, working your own hours etc.What however, stops most of us, is the fear to take that leap of faith or find the right business for us. We want to find the top home based business but where do we start? So we keep meandering along the current path where our financial and lifestyle dreams elude us.The problems with working from home can be vast, high risk, arranging office space, etc. The list can go on and on, and let’s not forget the money side of things. Most small businesses costs thousands to start up and working from home may mean you need to rearrange your house and pay thousands in inventory costs. Finding that top home based business is tough.I spent a lot of time researching to find that top home based business. My aim was to find a business that provided me with the ability to work from home, yet not having to risk quitting my job while I start it. I wanted a top home based business that allowed me to have small start up costs, but still provided me with huge earning potential.I then stumbled upon a world renowned financial author Robert Kiyosaki. His book Rich Dad Poor Dad won the New York Times bestseller. He explained a very important concept called the cash flow quadrant – the very first tool I used to help fine me that top home based business.He explained that people were in four categories. The Employee, The Self Employed, The Investor and The Business Owner. Basically, the self employed although their own boss, trade hours for dollars and if they take a break from their business so does the money from their pockets. The employee is the same, trading hours for dollars and working for the boss who earns all the money. The investor, well there is huge potential there but you need a lot of money to make money. The real system that works for you is business. He explained having a system that allows you to work less and still earn great money is where you can really become rich.I had to be on the B side of the quadrant. I had realised that a financial expert had basically pointed me in the direction of a top home based business. The answer was in that B quadrant. I did some more research on the author and realised he endorsed Network Marketing.Network marketing really is the top home based business, with little start up costs, an ability to contribute as much time as you like, great earnings potential, no risk and the ability to obtain your desired lifestyle. There is no competition like in a corporate hierarchy and everyone helps each other succeed. They key with network marketing companies is to do your research! Find the best company. The one that pays you well, rewards you for your efforts, is very team orientated and has a wonderful product.
Profitable Online Home Based Business Ideas and the Recession – Why Most People Fail in MLM’s
In this article I would like to compare the success rates of a profitable online home based business and the average MLM. Most MLM’s don’t want the public to know that around ninety seven percent of individuals coming into their business will fail. Those are not very good statistics. It does not necessarily mean the MLM is a bad company. I believe it has everything to do with the marketing concepts and strategies of the traditional MLM.
If you compare marketing strategies of the average in-home online internet business to an MLM you will see a vast difference. The average person in today’s world thinks they are all the same. Nothing could be further from the truth. Having done both I can speak from experience. A great many of the most successful internet marketers have been involved with a traditional MLM at some time in their life.
I don’t mean to sound like traditional MLM’s are bad. It’s just that their marketing strategies in today’s world are wrong. I learned very valuable skills and concepts from a large traditional MLM. Skills and concepts that have brought me tremendous success in my online home based internet business. Having done both I can see now that the traditional MLM’s marketing strategy is all backwards. Let’s look at why that is.
Here’s an example. I’m sure we have all met or known that one guy who is so excited about his new “thing.” He shares it with everyone he knows. All the time. Whether we want him to or not! At times he may even have resorted to, let’s say shady tactics to share his business. He even cold contacted people in the mall or the grocery store or church to add to his name list. He may even have asked you for your friends and families names and numbers so he could contact them for you! We could go on but I think you get the picture. Is something in this analogy making sense to you? In a traditional MLM’s marketing system you have to be the hunter, constantly looking for someone who may be interested in creating their own business from home. There are a few things wrong with this concept.
First, there is only so much one person can do. You are “weeding” through people hoping to find a few who will duplicate what you are doing. More often than not those people you are “weeding” through are not interested at all in what you’re doing. So you have to keep weeding through your friends and family and if you don’t do it just right you quite often alienate people. Basically like a lion on the hunt always looking for your next prey.
Maybe that’s a poor analogy but I think you get the idea. Most people will become discouraged at this point and will quit. If they stay in long enough to sponsor a few people usually those ones will quit. The average person just has a hard time with rejection, so the retention rate is very low. Why not become the hunted instead of the hunter?
Wouldn’t it be much better to have people hunting for you and what you have to offer? That is the main difference between a profitable online home based internet business and the traditional MLM. When you build your business online instead of person to person there are a few major differences. First, when you build an in-home online business the whole world is your market place.
With the click of a button you can send an ad out to the whole world. Your ads, your articles and your website can work for you twenty four hours a day three hundred and sixty five days a year. You are reaching people and exposing your internet business while you are sleeping, which means you’re making money while you’re sleeping too. You cannot do those kinds of marketing strategies the old MLM way, person to person. The real beauty of online internet marketing is you are reaching people who are actually looking for something new in their lives. And if they are serious enough or interested enough they will contact you. The system you have built online will “weed” them out for you. You become the hunted.
This is what Charmayne and I have done. This is what so many others in the home based online internet industry have done. From my experience it is the easiest and most enjoyable way to build a business from home. Don’t just take my word for it. Search it out for yourself. There are many others who have done this too. Read their stories. If you are tired of the rejections from the MLM way you owe it to yourself to try something new, something that really works. Take a step of faith, take that step today. You can do this too. We believe in you!
Our desire is to help the average person to create their own profitable and successful online in-home business. Take the first step and get started today by going to http://EZIncomeNow.com.