Want to Start a Home Based Business?

Want to Start a Home Based Business? Here are some tips you should know

I have been a mother working from home for about 7 years now and have thrived in the flexibility that this working lifestyle has given me. I spent years wondering where my children were and what they were doing.

Now I work when I need to, how I want to. I no longer trade time for money like I use to when I was working weeks of long hours. The life style I have just would not be possible working in those traditional parameters.

It allows me to run my children around town, attend various school activities and still have an adult life of working and earning a very decent wage!!

The web has opened up the world to Online marketing opportunities, its no longer constrained by physical locations and slow communications.

Just the other day I overheard fellow mothers talk about how they could not attend their son’s award presentation because they had to work, and got to thinking how lucky I was!

Until I thought…no I’m not lucky, anyone can do this! You just need to know how, so here it is, the keys to starting a successful home based business:

Choose a Business Opportunity

Use the web to search for a business opportunity that might suit you. Make sure that the business meets the key features of an online business opportunity.

  • The product of the business should be unique and in high demand
  • The business needs to be financially beneficial to you through its compensation plans
  • The business must have an established and proven marketing system
  • Training and support must always be available at all times of operating your business
  • The business must be expanding
  • A top online business opportunity will have a credible management.
  • Have a look at the businesses bigger picture.

You can read about these in more detail on my Blog

Create a budget for establishing the business and keep accurate records

  • All top online business opportunities cost to set up and run. If you come across a “free, get rich scheme” RUN!! There is no such thing. Some legitimate online businesses will offer a guarantee, or a 30day trial period, and that’s fine, the basic truth is that they will all cost money. So establish what you can afford and stick to it.
  • Investigate the various marketing methods their cost of effectiveness. A list and explanations of some marketing Techniques are listed on my blog.
  • Make sure that you run the books of your business as you would any other. This includes opening a business merchant account where all your earnings will be deposited and expenses withdrawn. Savings are important to have held for slow times (and they do occur!)
  • Make sure you keep accurate records and keep receipts for Taxation purposes and your accountant. The government has a history of auditing home businesses more often.

Make sure that you get training and Support with your business.

  • Another reality of online home businesses that you might not want to hear but is important for you to be aware of is that 97% of online businesses fail!! These fail because these businesses did not support the would be entrepreneur. Unless you are a highly experienced online marketer you will be killed in this industry unless you have a proven turnkey marketing system behind you.
  • You have to understand the importance of leverage and advantage of marketing duplication. Make sure that the business you enter into has a good system behind it. Read lots and always listen to top producers!!

Your home work space

  • Make an area that is your own workspace. Make sure it is spacious, bright and well ventilated. It is a space that you need to spend some time in so it has to help you to emit a professional persona.
  • Have a dedicated fax and phone line to this area for your business so that you can keep a professional image. Use an answering machine for this line as well.
  • Rent a post office box and use that address on your promotional mail and stationery, doing this will make it less obvious that you are working from home. The professional image you portray is very important to your clientele.

Establish a Weekly Plan

  • Working from home has its own challenges, even though it creates flexibility it has can be too easy to “put off” work. Your have to be highly disciplined to operate a successful home based business. Make a weekly plan and stick to it religiously.
  • Affiliate yourself with like minded home business professionals. The support is so important when you are establishing your new career. Make sure you family are aware of your new venture and are respectful of giving you quiet work time.

Establishing a successful home based business takes discipline and commitment. With this comes flexibility and freedom. No longer constrained by the nine to five hours of the traditional working week you can open your life up to all that you have been missing, your kids, your spouse, your family!

Forget wondering what your kids are doing and where they are take the plunge, make the change you will not look back! Need to see more? See the business I am operating and gain some incentive to set yourself up on your path to freedom.