You Have An Idea For A Home Business…Now Do You Have The Time, Qualifications, Space, Etc
You’ve made the decision to start a Home based business…Although this is a big step; you have a long way to go before you become a success. Don’t be discouraged though because…
You’ve got this far and most people don’t even get to this step. However, it’s time to ask yourself: what exactly do you plan to do? What’s your big home business idea – and, more importantly, how is it going to make you any money? There are quite a few ways to figure out whether your idea is a good one or a bad one. Basically, it all comes down to the practicalities of the thing.
Do you have the time to do this? You know that there are only so many hours in a day, and you want to save some of them for yourself. If you’re planning on, for example, making small products and selling them, will you really have enough time to take orders, make them, pack them up and post them? If you’re not careful, you can find yourself doing tedious work all day and all night for $2 per hour.
Remember that time is money: the only way to make the income you want is set an hourly rate you’re happy with, and then work out pricing as your rate plus expenses. If you don’t have enough time to do the work, then increase the rate or hire someone who does. It’s simple supply and demand.
Are you qualified to work for you? No I’m not trying to insult you. One of the traps that people most often fall into, is wanting to take a skill they have and turn it into a home business, without realizing that their customers will expect them to have formal qualifications. Sure, you were a full-time mother for years, but people would still like you to have a child-care qualification. This goes double if you plan to become some kind of therapist – if you don’t have the qualifications, how are people supposed to know that you’re not just making it up as you go along?
What’s more, qualifications serve to create scarcity in the market. A business will do better if only qualified people can provide its services than if any joker can. That’s why people like doctors and dentists command such high wages: they have to study for years to get their skills, which creates scarcity in the marketplace.
If you already have the skills, you should find it easy to pass the tests – and who knows, you might learn something new. Enroll on an evening course at your local college (try to avoid ‘distance learning’, as the prices are usually stupidly high compared to what you get out of it). It can be good fun, and you’ll probably end up with some good contacts in your chosen industry. Many people have started better home businesses by creating a ‘network’ of others they know doing the same business in the local area. This lets everyone specialize in their best area.
Do you have the space? If you live in a bachelor apartment and you will be shipping truck tires around the world…well you might have a problem. If you’re planning to have deliveries to your house and then send items out to people, you need to think it through very carefully. Do you really have enough space to act as a warehouse? Will you be cutting the size of your home in half for the sake of your business? It’s also worth considering whether you can really let big delivery Lorries drive up into your road without doing some damage – there’s nothing worse than getting your first delivery and finding that the lorry didn’t fit in your street and the boxes don’t fit in your house.
The best way to solve this problem is to make sure that your home business doesn’t require any inventory. Home businesses where you provide a service – whether it’s over the phone, on the Internet or in person – almost always work out better than ones that involve you packing and posting things.
Of course, even for more service-oriented businesses, space can still be a problem: if you plan to be a fitness trainer from home, make sure you have somewhere to put all that fitness equipment!
Lastly but probable most importantly Money….Ah yes Money even in a home based business. Consider the kind of expense you’d need to go to when you start your business, as well as the day-to-day running costs. Then, and this is the vital part, work out the maximum number of customers you think you could deal with, and cut it in half (you won’t actually get that many customers, at least to begin with). Work out how much you’d have to charge each of those customers to break even for your first year. If the price comes out far too high, then it’s time to think again.
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March 4th, 2009 | by business money |
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By Mandycandydandysandy on Mar 4, 2009
There are lot's of home based business out there that you can make $10,000 dollars a month and more. They make this amount of money because they put the time and effort into building their business. It's a business that they own, not a job. Being it's a business, you have to invest money into your business, like start up costs and various different things like that. They're not jobs where someone pays you for working 9 to 5. They are actual business's that you have to build. Some home based business's you can build with help, programs that train you as you build your business. Other's your on your own. They are all legitament business's, but the success of the business and the amount of money you earn from your home based business, just like any other business depends on what you do.
Your not going to open up a business and make 10,000 the first month. It's possible to do if you put the effort into it. But just to open it up and do nothing at all, you won't.
Most home based business cost under $500. Some cost more depending on what it is you want to do. I don't know what you like to do, so I can only tell you what my husband and I started over six years ago and point you out to some others to take a look at. Ours well supports our family as well as a major funding source for our non-profit organization that we started up a while back with part of the income we earned. As well as it's a funding source for other non-profit organizations.
Anyhow, we got involved in the telecommunications industry.
With a world wide company that's over 15 years old. We've been featured in several magazines like USA Today, Success, Fortune etc. Inc 500 rated us the 22nd fastest growing company. They offer services that people use every day and pay for anyway, but now they can have a lower cost. Services such as local and long distance phones, Internet, digital phones, video phones (you can see the person your taking to live)VOIP, Satallite tv, and all the major cellular phone companies like Verizon, AT&T, Sprint, T-Mobile, Alltell, Nextell etc. have partnered up with them too.
How many people do you know, or know of, that uses or has one or more of these services? How would you feel if you could save people money on services that they're most likely already using, if not you can offer them the service, and everytime they pay their bills each month, you make a percentage off these bills every single month. Huge income opportunity. It's incredible how much money is involved in this industry.
If you'd like more information feel free to email me and I'll be happy to pass it along to you.
I also created a blog on my 360 page on home based business's. There's over half a dozen different ones to take a look at. Your more then welcome to browse through them. If you find one that's interesting, contact the person who wrote it and they can point you out in the right direction.
Tiffany
By oscarsaenzm on Mar 4, 2009
Only business with no startup charges is consulting; selling your time and mind. You'll probably eventually want to advertise, but to start with, just sell yourself.
By MsOnlineMoney on Mar 4, 2009
Awesome!!!!
By cmb2629 on Mar 4, 2009
OMG!!!!
By Kiki on Mar 4, 2009
Check out http://www.workathomeagent.com—- hope this helps you out!
By Tim M on Mar 5, 2009
By wall on Mar 6, 2009
By Anna Dee on Mar 7, 2009
Spa and skincare products, make-up application and cosmetics, and bridal consulting. Many fun and exciting ways to work your business. Email me for more information or check out the source below.
Barbie
By Arwen27 on Mar 7, 2009
I wouldn't want to hound my friends either. I just showed them what I do and that I can save them money monthly on something they purchase every month. Great thing was I actually saved them money.
My customers in turn slowly understand that I don't want their money. I want to "SAVE" them money. In turn they pay their energy bill and I get a commission because I helped them. This comes every single month like clockwork as who doesn't pay their bills every month, right?
Find something people want and have it so it's recession proof. I just realized people will not cut off their electricity/gas at their residence so it made sense to me to make money off of something that I don't have to sell them every month.
By rafiunnissa on Mar 7, 2009
Most of the home businesses are not fake so much as not nearly as good as their advertising makes them out to be. Have you ever seen the preview for a movie, gone to it and it stank to high heaven?? Same thing with home business opportunities.
The problem with these businesses is that they are sold as pie-in-the-sky, get rich quick, sign up three people and you will never have to work a day! There are no magic beans. You actually have to work a business opportunity to make money, I dont care what they say.
However, as a semi-intelligent adult, you should be able to look at something, evaluate it and say, Hey, that sounds a little too good to be true. You want to sue them for over-promising and under-delivering without having read the fine print that their very well-paid lawyers have put in there to get them off the hook. That aint gonna fly. It is up to you to use some common sense in evaluating business opportunities.
Look for companies with real products at a reasonable price that there is a need for. Ask yourself, if they are going to find my customers, tell them about the product and then close the deal, why would they need me? If the company cant pass these basic questions, move on.
Good luck in your search.
Barbara
http://www.therealestatebirddog.com