Month: May 2019

How To Start An Online Home Based Business The Essentials

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If you want a different type of job, or plan to reenter the job market, you’ll discover that considering an online home based business may be the best option for you.

When you go online and work at home, you are not restricted to the standard office hours and will not be restricted to any deadlines except for those you’ve set for yourself. The idea of making a living this way appeals to many, but few individuals know what to do to make this lifestyle a reality. If you are interested in how to start an online home based business , there are a few things that you need to know.

Consider looking at an affiliate business. It may be the fast track to learning how to start a successful online home-based business. Essentially, you will not need to have any inventory and you will not have to worry about processing payments or customer service.

You simply have to guide customers to a product through your online site, and if they purchase it through your provided link, you’ll get a commission. This is one of the most straightforward ways to make money online. It is a fantastic, easy to understand ,low risk money making opertunity.

After affiliate marketing, the next level is multi-level marketing. There is a fair amount of advanced earning with multilevel marketing, otherwise known as MLM. Basically, you are considered an affiliate marketer, but other new affiliate marketers will be recruited by you. If your affiliates make a sale, you earn a modest commission, and in some instances you can even earn money from sub-affiliates under your affiliates.
The best way to succeed is to copy what others are already doing. Teach your recruits how you run an online home based business, so they can be ensured success.

People often ask me how to start an online, home-based business. I consistently recommend network marketing. This is a great source of recurring income.

You will find many opportunities when you look into starting an online, home-based business, but it’s important to think about how well-suited you are to working at home-based environment. Are you disciplined enough to put yourself to work every day, and do you have the resources to support yourself until you are making the money that you need? When you are looking to make sure that you can get your online business off to a good start, remember that there will be a time when your resources will fluctuate.

If you desire to work out of your house, be sure each day you intend to work that you wake up to your alarm, dress and look suitable for work. Try this if you want to focus your energy and align your mind to the task at hand. While you are working from your house you will usually find out that your worst enemy is infact yourself.

There are many different tips and techniques that you can think about when you are thinking about how to start an online home based business, so make sure that you learn everything that you can and that you know what you are getting in to!

Reasons To Own A Home Based Business

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With this unpredictable economy and business behemoths falling daily, this is a wonderful time to start a home based business. While this country was erected on big business, it seems to not be true anymore. The underdogs, meaning the medium sized and small businesses, seem to be doing much better than long running businesses. Keeping this in mind, this is a great time to finally start and grow a home based business.

There are some wonderful things about having a home based business. Above all, personal freedom. Everyone that works a regular job has had those days when the clock does not move fast enough or when they just don’t have the juice to make it through the last four hours of their shift. Of course, when you are working for someone else, you have to stick out those last four hours even if you get nothing done. It is time wasted.

With a home base business you are able to tap into your most productive hours and get more work done. Not to mention you will probably be doing something that you like so there may be more enthusiasm to complete projects. A home based business allows you to live up to your full potential.

There is also no dress code or commute when you work from home. You can kick back in your pajamas and put in an eight hour shift at your computer. Or you could find yourself at your favorite latte place with other people who work from home. Vacations may come more frequently now that you can squeeze in an hour or two of work on your laptop from the Bahamas. And what’s priceless is the personal freedom gained from having a home based business.

The money that you earn is yours. The reality is that you will make a fraction of what the CEO earns knowing that you’re working so hard for some big corporation to increase their overall wealth. As opposed to possibly collecting commission of thousands of dollars as a business owner. Instead you will be making money for yourself and getting paid for the hard work that you put in. There is nothing more rewarding that to get paid exactly what you earned.

In addition to getting the money that you earned, you will save money as well. Gas prices are sky high so not driving to work will save you tons of money. You also won’t have to scramble to some overpriced restaurant for low grade food because you forgot to pack your lunch. Breakfast will also be easier to get in now that you are running out the door at the last minute.

Small businesses are seeing increased opportunity. As the large corporations crumble, people are turning to small businesses that offer more personalize service. Outsourcing labor is also cheaper for big corporations so you could find yourself picking up contracts form companies that used to have in house people to do their billing or web design. Keep you eyes open and capitalize on the opportunities that come your way.

Looking For A Home Based Business 5 Questions You Must Ask

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When looking for a Home Based Business there are 5 very important questions you must ask.

They are:

Question #1: What is the product or service being sold?

If you cannot clearly identify a specific product or service being offered for sale through the Home Based Business, it may be a Pyramid Scheme or a similar type of Scam.

Here’s the reasoning behind it:

If there’s no product or service being offered to the public for sale, how can the company promoting the Home Based Business generate a profit? Where’s the money coming from to pay you a commission or a bonus?

If they’re not making a profit from sale to the end consumer then they’ve got to generate that income from you and other members like you just recruiting other people who are usually asked to pay some outrageous Application/ Registration Fee, even if they call it by a fancy name.

This is nothing more than a Pyramid Scheme and NOT a legitimate Home-Based Business. A popular example is Gifting Programs, there are no Goods or Services being sold, it’s just people exchanging money with other people. Sooner or later somebody is bound to get hurt!

Question #2: How stable is the company?

Why is this important?

Well suppose you found what seemed like a really great company and started building a Home-Based Business with them only to find out 2 to 3 years later that the FTC swooped down on them for illegal practices and shut them down for good?

This actually happened with one company I was working with many years ago.

People became millionaires with this company in a matter of months. It was the fastest money I’d ever made in Network Marketing up to that time, but within months of joining the company it all came crashing down because of problems with the structure of the company and certain practices that displeased the FTC.

I learnt my lesson.

In checking out the company you’ll want to find out how long they’ve been in business and where their headquarters is located. You’ll want to ask about any other Companies they’re affiliated with, like their Parent Company, Sister Companies or Subsidiaries if there are any.

There’s an old adage that goes; “Show me your friends and I’ll show you who you are.”

That applies here.

You can tell something about a company by the company it keeps (pun intended).

In looking at how long a Company’s been in business be careful not to throw away the good with the bad, for instance, a particular program might be brand new but the Parent Company backing that program might have been in business for many years, giving it the stability you’re looking for. Look deep and don’t be afraid to check behind the curtains.

Question #3: What is the quality of the company’s leadership?

Dr John C. Maxwell, international Speaker, Motivator and Best-selling Author says, “Everything rises or falls on leadership.”

It has been my experience that a Company usually takes on the characteristics of its leader(s) so, if you want to know what kind of business you’re about to join, look at the leadership.

Practically speaking, you’ll also want to check out the business acumen of the person or people in charge because they’re the ones making the decisions that’ll impact the future of the Company – Your Company.

Question #4: How good is the compensation plan?

I think The O’Jays said it best; Money, money, money, money… monney!!!

You’re going in business to make money not to look good in a business suit.

And if you have a real Home-Based Business then you won’t be wearing a business suit in the first place, Right?

There are so many different types of Compensation Plans; from the sublime to the laughable. There are 2-Ups, 1-Ups, Binaries, Unilevels, 5×7 Expanding Matrices. There are Spillovers, Powerlines, Breakaways and on, and on, and on.

Here’s what to focus on:

How much is being paid out in commissions?

Too little and it’s not worth your time, too much and the company might not retain enough profit to sustain its continued growth and expansion.

The experts say about 65% being paid out in commissions is the acceptable norm.

Understand the difference between Bonuses and Commissions.

Commissions usually form part of your ongoing residual income. Bonuses are usually temporary financial increases, paid on a specific action, performance or fulfilled quota and as such; do not form part of your regular ongoing income. Focus on good commissions as opposed to bonuses!

Look for passive, residual income.

This is the kind of income wise people seek after. It’s the type of income you keep getting long after you’ve stop working. An author writes a book once and keeps getting royalties from sales years after she stops writing.

The Harry Potter Series made J. K. Rowling a billionaire and now here comes Stephanie Meyer and the Twilight Series – Go sisters, go!

With a Home based Business the same thing is possible.

You can do the work once and keep getting paid forever once you’ve selected a stable Company with good Leadership and the right Compensation Plan with an easily Duplicatable System.

Question #5: Is it easily duplicatable?

Even if you’ve got everything else going for you that’s mentioned above, if the system CANNOT be easily duplicated it’s not going to work.

Your attempt at building a successful Home-Based Business will fail and here’s the reason why:

J. Paul Getty said, “I would rather earn 1% of the efforts of 100 people than earn 100% of my own efforts.”

This is the axiom upon which Network Marketing, MLM’s and Affiliate Programs are built. Zig Ziglar said it this way, “If you help enough people get what they want, you will get what you want.”

Either way you look at it, it’s going to take a team. Teamwork makes the dream work. So, if the system you’re looking at cannot be easily duplicated by the average person who wants to start a Home-based Business how are you going to ever build a successful team?

There are over 475,000 people worldwide starting a Home-Based Business every week, 175,000 here in the USA alone. Most of them don’t know how to build a Home Based Business so if your system isn’t user friendly then, most likely, they’ll find another one that is.

Keep these tips in mind:

We live in the age of Video; this is the YouTube Generation so, if your program makes use of video to help sell the product or explain the benefits that’s a plus.

People have become very wary of ‘meetings’; that’s like a four-letter word to most so, if your business presentations can be done online that’s a plus.

We also live in the Digital Age; Digital Products are the fastest selling commodity on the Internet right now. If your business is involved with the sale or distribution of Digital Information Products that’s a plus because they’re instantly delivered and can cut overhead expenses by as much as 80% for the Company thus increasing the Profit Margin.

This simply means… More money for everyone!

There you have it; my 5 top questions you should ask before joining any Home-Based Business.