Tips For Starting A Legitimate Home-Based Business
by: Mal Keenan
Copyright 2004 Mal Keenan
The number of home-based business opportunities is rapidly growing. In fact, over 50% of small business owners work from home. Numerous programs and options are available. If you would like a legitimate home based business but are having trouble deciding which is right for you,
exercising a few precautions can go a long way in making sure you choose the best program for you.
There are legitimate home business opportunities that can start you on your way to financial freedom. Research each opportunity thoroughly and choose wisely. You can earn an excellent income, be your own boss, and work the days and hours you desire.
The home business industry is expanding continuously and research suggests that revenue generated from home-based businesses will increase by 17% yearly through the year 2008. Legitimate home business opportunities are highly successful when they are more than just get rich quick schemes. Valuable marketing tools combined with affiliate/prospect systems, discussion groups, and contact with those who are already earning money from the same company are excellent ways to help you make your business successful.
There is a wide range of business opportunities to consider, including Internet based businesses, retail sales, import/export, and even stuffing envelopes. Some are legitimate businesses, and some are not. It's important to know everything about the company and to communicate with those already involved so you understand completely any risks you may be taking, how long before you can reasonably expect to make serious money, and what amount of work is required to make that money.
Have practical expectations when starting a home-based business. Expecting to make enormous amounts of money in a very short time is unrealistic. Most legitimate home businesses do not promise instant wealth, but may offer a steady income stream that can increase gradually. It takes a certain amount of time to build a successful home business. Spend adequate time researching your business.
Make sure there is a large market for your service or product to help ensure your economic success. There is plenty of information on the Internet and through the US Small Business Administration to assist you in making informed decisions as to starting a home-based business.
People start a home-based business for many different reasons. They may be dissatisfied with their current job, unemployed, or have family situations that require them to be at home. By starting and maintaining a legitimate home-based business, you can realize your dream of being your own boss.
It is a good idea to write a business plan, as it may be your roadmap to reaching your objectives. There are numerous articles on the Internet and in libraries that can assist you in developing your business plan as well as addressing the many other issues involved with starting and operating a business from home.
And last, but not least, seek the advice of a tax professional. Your first reaction may be that you can't afford such expenses right now; but in reality you can't afford not to seek such advice from the very beginning of your home business start-up. They can advise you about ways you may be able to reduce the amount of taxable business income at the end of the year. Paying for an hour or two of consultation with a tax professional at the beginning will probably save you much more than that amount later on down the road.
An amazing number of people seem to think that magic is somehow created when you put the words "home-based" in front of the word "business." It's still business...it just happens to be based in the home.
Legitimate Home Based Business
Things Work From Home
Things You Should Know Before You Attempt to Work From Home
by: Ray Mann
Copyright 2005 Ray Mann
The idea of working from home has often been on the minds of many people today. The opportunity to make money from the comfort of your own home is quite enticing. However, gaining profits by working from home isn't always easy. There are many other difficulties as well. Before you attempt to work from home, there are some things you should know.
First of all, there are many work at home business opportunity websites out there. You need to realize that many of these are often found to be fraudulent. Some guarantee that you will make money in the amounts of millions. These are usually the fraudulent ones. Before selecting one of these, be sure to research it and pick a business opportunity with ideal profit potential.
Whether you start up your own work at home business or if you join a work at home business opportunity, you must know that there are start up costs involve. You can't make money without spending some of your own first. Much of these start up costs involve promoting the business, marketing, advertising, set up fees, etc. You need to pick a work at home business that has start up costs that you can actually afford.
Next, you need to learn that the money you actually earn is not always your income. You aren't really one to make money if you actually spent more money just keeping the business running. You must subtract all business costs form your profits. This is your true income. Business costs can be: marketing, advertising, the cost of hosting your website, business supplies, start up costs, the cost of opening a business account, computer software, shipping costs, and many others.
Lastly, many people that dream of being able to work from home often don't have the money to do it. So, they either spend all of their savings and their previous income or they put it all on a credit card. Never do this. If you are new to the work at home business, you may not do well at it at first or gain any profits to begin with. You can end up in more debt and put yourself in a very deep hole. This is never anyone's dream, but it is in fact a reality.
This is just some of the things you should know before you start a work at home business. It is best to do some research and get educated on the subject. There is no need to jump into anything. Take it slow and get some education on the subject first. There is a lot of money involved. You can either have great profits or suffer a terrible loss.
Residual Income
What If A Franchise Was Run Like a Typical Home Based Business and Residual Income?
by: Nick A. James
Have you ever wondered how a Franchise would do if run like a typical home business? This might give you some idea.
There is something that is long as I live I will never understand. Well I suppose actually there are several things, however right now this is business focused. That something is residual income. I just can’t for the life of me understand how someone can go through life and just continue to work at a job with no plan for residual income. I suppose many people just can’t comprehend that they can have money coming into them while they aren’t working.
There are a number of ways to get residual income like writing a book, or a song. However, these are tough occupations to succeed at.
One of the very best ways to have residual income is good home business in Network Marketing. Network marketing has been criticized, poked fun of, ridiculed and worse. But it’s here to stay and it’s popularity is growing. Often called the poor man’s franchise, with the right company, product and timing a person can actually do much better than a franchise without the expense and headaches that so often accompany a franchise.
Think about this, what would you say is the best most successful stable franchise today? Several come to mind but no one can argue that McDonalds wouldn’t be at or near the top of most lists. So what kind of point am I making here. Simply this, many people argue that home businesses, especially in the area of network marketing don’t work. Well gee whiz if a McDonalds was run the same way the majority of people work their home business the McDonalds would all go out of business.
Here is how the typical McDonalds would be run if run by the typical unsuccessful home businessperson.
When it’s open – I stress the word open, (more on this) it would probably be open less than 1 hour a day. The workers would be sitting around pretending to be working, but accomplishing very little. And then suddenly at a whim the store would abruptly close, perhaps to open again in a few days or even a few weeks. No schedule or hours of operation would be posted when the store was going to be open. After reopening after an absence the workers would just be getting back in the groove of working again when a half hour later the store would close because no customers were coming in. It seemed not knowing when the store would be open was keeping them away – imagine that. Well after a month or so of no customers the store is closed with the owner muttering under his breath. “These franchise things just don’t work!” Then he starts telling all his friends, “I tried one of those franchise things once. They just don’t work!”
This example is easy to see and yet we all wonder why a home business fails when conducted in this same manner. What is great about a home business versus a traditional business is you don’t have to start each day at 8:00, you have a lot of flexibility. However, you don’t have the flexibility not to work for days and weeks at a stretch and engage in poor work habits when you decide to work.
Of course not all the blame can be put on the new home business person, there are some bad programs out there and timing can be bad with others. Of course wrong expectations can mislead many people into discouragement. What do we mean here. Well look at it this way. Very few people would argue that Microsoft would be a poor stock investment today. However, there are people that hype their particular company that has passed it's growth spurt, that you can get rich and retire with their company. This is the same as a dishonest stock broker pushing Microsoft from the angle of it getting ready to explode in value as they will have double digit growth each month for the next 5 years. Hey in the early 80’s Microsoft had this type of growth, just don't expect the growth to continue forever.
The point is there are always new Microsoft’s in the Business and Home Business markets. It’s knowing how to find them that is key. They are out there, home businesses that are rock solid and will experience this type of explosive growth over the next 5 years.
home business for big profits
Marketing your home business for big profits
by: Jim Noel
Copyright 2004 Jim Noel
Marketing your home business for big profits takes some due diligence and the right resources.
In 1999 I started a home based business, and I submitted my website to every search engine that would take it from here to the North Pole.
I submitted classified ads; I had more links on my website, than Carter has pills.
I bought the submission software’s, the top ads on classified ad sites, the linking programs and so on.
I had about $500 to spend on this venture and I spent it all on marketing.
Yes I got a few hits, and some replies. But after a year of not really getting off the ground, I closed down shop and stuck my tail between my legs and just took the loss and figured this home business stuff was not to done.
Jan 2004 I wanted to try this home business venture again, only this time I was going to some research on home business and how people succeed in it.
I read news articles on the internet, went into forums to see what others were doing, and so on. Found out quickly everyone has an opinion on what works and what doesn’t.
Well I did learn quite a bit, like on my first venture I was linking to every website that would take my link. I found out, it is not the amount of links; it is the quality of websites you link to.
That was one mistake. Found out also that these submission software’s and programs are not all that great either.
After about 6 months of research and reading, I reopened a new home business in July 2004. I applied what I had learned to this business.
To my surprise after about 2 weeks I started getting some affiliates, had a couple sales, and things were off and running.
A little over a month went buy and I was continuing to make progress, and then I stumbled on to what I consider is one of the best business tools out there.
It was an organization that had all the proven tools, resources, experts, materials, books you name it on how to get make big profits on your home business.
Well I signed up, and for once that was the best money I spent, a low monthly fee for all of there resources. Well let’s just say, that in 1 month my profits doubled.
The next month they doubled again! All this buy just having the right resources and tools at my disposal, is what made the difference in 2004, compared to my flop in 1999.
I turn 45 years old in 2005, and have planned on retiring from my full time job in the aerospace industry. My home business as gotten so big and so profitable that I know longer need my other job.
You know what J.O.B. stands for (Just over Broke). Well I know longer need to worry about that, now that I have the financial freedom to support my family for years to come.
