Building a successful home based business empire will require analyzing five key factors. Once you get comfortable with these five factors you should have a very good idea of which home based business opportunity you’ll want to get involved in!A quick warning before we get into the meat of the article. If you are considering building a successful home based business empire you’ll obviously spend some time researching what opportunities are out there. Be very careful here, if anyone “guarantees” a certain amount of income or tells you that making money from home is easy, DON’T WALK, RUN from these offers. Let’s not forget that a home based business is just that, a BUSINESS.Nothing is guaranteed in business and it’s not easy. I’m not saying this to discourage you or scare you away because there are some great opportunities out there for you to build your home business empire, but understand that whatever you choose will be challenging and it will require a big effort from you to be successful. That being said I personally know home business entrepreneurs that have earned well into seven figures from home, but I also know that they put in the effort to get the return.OK, OK you get it so enough with the lectures, let’s get into the five factors you’ll need to consider when choosing the which home business opportunity is going to help you achieve the success you want!1) What’s the initial investment? When considering this keep in mind that less may not be more. In other words a larger investment may give you a better opportunity to earn a higher income quicker. Some opportunities may not even require an upfront investment, think affiliate marketing. Whatever the size of the investment you’ll want to do you due diligence on the company your signing on with prior to getting started.2) What are your ongoing expenses? Any business owner will tell you one of the most frustrating things to manage is overhead. It’s a moving target and take a business under quickly. In considering a home based business you”ll have a leg up almost immediately here because your overhead is going to be significantly lower than a traditional business. That being said different opportunities are going to have varying expenses. I would suggest staying away from anything that’s going to require purchasing inventory. In today’s Internet world even if you’re going to sell product you should be able to use a drop ship company to help with the storage and shipping of products.3) What type of opportunity will you choose? This is a tough one because we all have different interests and passions. I would suggest spending some time thinking about what your hobbies or passions are. It’s much easier to build a business around something you love than it is to just chase money. From this perspective network marketing can be a viable possibility for a home based business empire because there is a wide range of network marketing opportunities available and you will probably be able to identify one that ties in with your passion.4) How long will it take for you to be profitable? You’ll need to run some projections here, but I would suggest that for a home based business you need to be profitable within 2-4 months.5) What equipment is required? From my perspective I don’t want to get involved in something that requires me to load up on new equipment. For one thing it’s going to eat away at potential profits, but I also don’t want to learn how to use new equipment. You’re going to have enough on your hands learning how to run your business and I would argue that you need to limit your learning curve as much as is possible to your business and how to get it to profitability ASAP!Once you have worked through these five factors you should be able to zero in on a few opportunities that meet the criteria you’re looking for. Once you’ve decided on the opportunity you’re going to choose, roll up your sleeves and have fun building you a successful home based business empire!Feel free to check out my blog at http://www.askchrispatterson.blogspot.com.
Start A Home Based Business – 3 Things You Should Give Your Customers For Free
If you want to achieve success in with your home based business, you should be giving things to your potential customers free of charge. Not only does getting free information make your customers happy, but it will build stronger relationships and build trust with your customer. There is no need to give away your best products, but there really is a need to give away as much free stuff as you possibly can.
Think about those food-booths at the grocery store, how many millions worth of food is given away by these companies on a daily basis? The reason they do this is because when you give them a taste, they are more inclined to buy the product, but if they don’t get a taste, there is little to no chance they’re going to buy it. The same principle applies to your online home-based business; the more “free tastes” you give your potential customers, the more they are going to be willing to purchase from you.
So let’s take a look at three great freebies you can give you your list of subscribers without feeling like you are giving away all of your secrets:
1 – Ebooks
People love free ebooks, mainly because information is something we are all seeking online. Let’s say you have a few different ebooks, all falling into different categories, you can give away a full eBook to someone if it falls under the umbrella of the same niche. For example, if you are in the weight-loss business, you could offer your subscribers an eBook that teaches them how to build their arm muscles. Anything that you believe your customers will find useful is a great way to build the customer-business relationship. So don’t be afraid to give away a quality ebook, it just might lead to another purchase.
2 – Course samples
Do you have a several day course that you sell for a couple hundred dollars? If you do, give them a taste by allowing them to see a couple days for free. Not only will this peak their interest in the course, but it will also give them some valuable information that they can use to improve themselves.
3 – Audio and video information
People will generally value audio and video products much more than simple ebooks and other written forms of content. If you do indeed have the means to create audio and video products, send samples to your subscribers so they can get a feel for your style. Even if you don’t have any audio or video products yet, you can create a simple video and send them a link, they will value this and it is thus a great relationship building tool
Learn the Reason A Lot of Home Based Businesses Fail
If you don’t know what you are doing then working from home can become very challenging… Many people jump into this phenomenon without any investigation.They follow the masses who are telling then that now, now, now is the time to make a go of working from home. Most of these people are looking for employment sooner than later and then discredit the “work from home” type of businesses, all this because they did not do any homework before they started.The people that tend to get hurt from online scams are those that are in a desperate position and need to find an income stream due to unemployment. Take it from me, if it sounds to good, just move on. Let your intuition guide you.Well what ever your circumstances are, you need to answer a tough question, as this will determine the type of business you have to start.Question:Do you need an immediate income from your business or are you willing to plow back the income and grow your business?I understand that we all need to pay the bills and put food on the table and rest assured I am not here to tell you what to do. However, I will tell you that the “overnight success” DOES NOT EXIST, online or in the regular brick and mortar business you are already familiar with. Exceptions however do exist but it’s not the rule.The 3 basics required to start earning money with any type of business are products/merchandise, customers and some background logistics. You might have the best product on earth but if nobody knows about it, you’re dead. This is especially true when starting a business online as there are millions of websites out there selling products but its how you market your products that will bring you success.The reason a lot of Home Based Businesses fail is because:Marketing is King.If you don’t have a strong marketing system and assault running then your business won’t even get off first base.I don’t mean to scare you off. The benefit of a business online is that the internet provides a very real low risk chance to start working from home and to change you and your family’s lifestyle. Online home based businesses can really give you the chance to change your life for the better. Whether it is more financial freedom or more time to spend with your family. If you are willing to learn, learn and learn and work hard then this could be the opportunity you have been looking for.Read more about this and other home base business ideas.Please click on this link for more information.