How to start a business at home and have any chance of making money. Here we give you the ground rules for greater income.
Can you really work from home?
Not everyone can operate a home business.
You need to have a bit of willpower and understanding that work is work.
It is easy to be lazy but getting the sales done takes effort. Every day pursuing the
the goal of making money is required.
The big distractions are partners and children as well as surfing the internet and other idle pastimes like cups of tea.
Am I qualified to offer advice?
I have had a home office for about 6 years operating several businesses and being involved in countless activities. I have staff that have home offices and we mostly communicate over the airwaves.
However, I do have an office space that I can lock away from home so when I am at work the level of disturbance is minimal.
I am an early riser so I get a lot done before many people even get to work. No travel time or stuck in traffic so you gain hours a day that can be put to good use. I shut down early and spend family time at the end of a day to have balance in my life.
However, you do need some outside activity to discuss problems or situations and this escape is sometimes missing with work at home people. Don't be a hermit to mix with like people and share like problems.
What do you need to start a business from home?
The world has advanced so far in recent times that most things can be done without excess paperwork.
A computer, Internet and probably a mobile phone can be your world with nearly everything else on the internet.
The first real issue for a home business is a plan. You must have a written plan that details what you want to do, where you are going and by when.
Cash flow is also really good because you will control expenses far better when you are actively following a plan and monitoring results.
I still maintain daily cash flows. It provides trends as well as making you focus on the input and stay within a budget. It is simple to do with an excel spreadsheet without spending money.
What are the legal issues?
The answer is going to be general because it changes from country to country but generally, you will find that.
There is a minimal amount of money you can make before declaring yourself a business.
Other than personal tax you have things like GST, withholding taxes etc to consider.
When you register as a BUSINESS you start a long term campaign of complying with the rules.
Many areas and countries will have a small business group that will support your activities and help with the legal bits. These are generally free services.
Choose an appropriate business
Your best products
The number of things you can do is only limited by your imagination. The internet is a hive of opportunities and all you need is a bit of a leg-up.
Do other people do this?
I mix with thousands that are regularly making money on the Internet, a few dollars here and there to hundreds of thousands a month. It is limited only by yourself.
A friend of mine sells websites, builds them up gets traffic and flogs them, the last one for
My daughter taught herself Facebook marketing and freelanced in the market. One client wanted her full time so she put a price on it. Now working full time with shares in the company.
Another had a daughter in a shop so she organised an online store to sell all the women's wear
to a broader market, work a treat.
I have seen MLM cheques at $100,000 a month for the top earners.
How to start a business at home and the pitfalls.
WordPress essential training for new players
What are the pitfalls?
It takes time. nothing is done in a short period as you build a reputation.
You must understand the basics and work them to your best advantage so continual learning is required.
Remember your idea is to build a business from scratch, put your shingle up one day and start the journey.
You will have good days and bad days, you will lose faith in yourself and your ambition and you will feel like giving up. It all happens to us all and the ones that work through it get to the finish line.
Set yourself daily tasks and time and stick to it. You can start early, finish late, shop at midday however you want to design your day but fulfil your commitment first.
I will do that tomorrow and not cut it. If you don't do the necessary things then nothing happens. Pretty simple when you think about it
It takes time and effort and if you are not prepared to give it you're all then do something else.
Will it affect family life?
It will affect family life until you find a balance. When you start the journey you will be filled with enthusiasm and excitement and there will not be enough hours in a day. Others won't understand and you won't have time to explain as you plod the road to success.
However, life is not all about work, take some time for others and for yourself.
How much money can you make?
The answer is as much as you want. I can paint a wall with success stories and glorious sums of money, however, like anything the 80-20 rule applies. Big money comes with the top 20% and the rest of us are plodders.
One important issue is what you are selling, the price and the return.
If you are selling Amazon books at $10 each and you make 7.5% or $0.75 a book you need to sell a whole heap of books to make any money.
However, if you are selling $1000 watches and make a 20% earn then $200 each means a lot fewer sales.
It is an important balance issue and that is why I like recurring income products.
When I sell a low-cost product like Wealthy Affiliate I earn about 30% of the value every month.
That way we earn a regular growing income that will build a business over time.
What is your future?
It is all in your hands, everything is there for the taking and all that is required is learning, time and consistency. Most fail because they give up.
I said before that you need a plan for the whole journey, part of that plan will sometimes require a change and a drive around the obstacles and no entry banners but you can do it.
If it was really easy we would all be doing it, life is not generally that good for you and makes you sweat for results.
A home business is an ideal lifestyle. No traffic, no pesky co-workers problems, no water fountain politics.
It can be done in your own time and at your own pace so you are the BOSS.
As they say, just add water and see it grow