Author: Trevor WilloughbyA Home Business Opportunity is a great journey to embark on. While it can be a complicated task, having a handy checklist will help keep you on track. If you begin with a good working plan your Home Business Opportunity will get off the ground without a hitch.
The first step in starting a Home Business Opportunity is creating a business plan. It is essential that you have a plan to detail what you want the Home Business Opportunity to be and where you want it to go. Establish goals you intend to reach and when you want when you want to achieve them by. How much money do you have to invest in the Home Business Opportunity? What type of schedule will you be able to work i.e. how much time can you dedicate to your Home Business Opportunity every day? What is your launch date, don't procrastinate? All of these things should be figured out before you actually put things into motion for your Home Business Opportunity.
What type of Home Business Opportunity are you starting? Will your Home Business Opportunity be based on a current hobby/interest or will you start as most do by being an affiliate marketer? This all depends on the money you have to put up and the type of business you will be starting. Make sure that you are realistic.
The laws regarding your Home Business Opportunity do vary from state to state and country to country. There are many tax benefits associated with operating your Home Business Opportunity that make the venture even more attractive, so make sure you maximize them.
Probably the most important part of starting a Home Business Opportunity is your reason Why I say this because as with any business online or offline you will most likely be spending more than what you earn in the first couple of months. You need to have very strong reasons for why your Home Business Opportunity is going to be successful because you will have times of frustration and doubt but to be successful you need to push past that.
In establishing your reasons why you want a successful Home Business Opportunity they need to be such that if you don't make a success of it, what is going to be the result of that and are you prepared to accept that because again if the Why is not strong enough it is easy to give up and let someone else decide your fate. Not a good option I would have thought.
When looking through the myriad of Home Business Opportunity that are available today it is easy to become confused so you need to abide by certain criteria when making your selection.
Some of the things that I suggest in making the right choice for a Home Business Opportunity are;
If it sounds too good to be true then it most likely is, a Home Business Opportunity is like any other opportunity and that is the path to riches takes some time, a lot of work, a lot of learning, persistence and dedication.
The Home Business Opportunity has to offer excellent training, multiple streams of income in other words do not just get tied to one product.
You need to have a supportive upline if you are going into affiliate marketing and list building because both of these styles of business allow you to achieve leverage which is the secret of the rich. That famous quote of " I'd rather have 1% of a 100 peoples efforts than a 100% of mine" is just as relevant today if not more so than when it was uttered some 100 years ago.
With a Home Business Opportunity that allows you to do that puts you on the path not only of wealth but wealth on auto pilot because once you understand that a Home Business Opportunity gives you the power to have that wealth keep increasing year after year. This is what is known as residual income,
Zig Ziglers well known quote of "If you help enough people get what they want you will get everything that you want"
So once again when you are deciding on which Home Business Opportunity you are going to start make sure that you are comfortable that the company or group you are going to be working with share that philosophy. Because if they don't you are going to finish up like far too many people on what I call the Home Business Opportunity merry go round and just keep moving from one opportunity to the next.
Don't let that happen to you, there are huge rewards to those who understand this, so approach your Home Business Opportunity with passion and commonsense and communicate.
I wish you every success and sincerely hope our paths cross some day.
Trevor Willoughby
About the Author:Trevor Willoughby is owner of TrevorWilloughby.com and writes on a variety of Home Business Opportunity subjects. To learn more about starting your own Home Business Opportunity earning 6 streams of income visit TrevorWilloughby.com
Article Source: ArticlesBase.com - Your Home Business Opportunity Checklist
When you were younger, did you ever dream about having your own home business? Were you sidetracked somewhere along the way and now find yourself caught in the 40-40-40 rut?
40-40-40 Plan (Rut)
40 minutes going to and from work
40 hours of work per week
40 years of life spent working slaving away for someone else?
When things get unfairly tough at work, do you still dream about your own home business – what you would do, how you would run your own home business, how you would treat your employees, what kind of money you would make, what product you would sell? Then when you decide to make a change in your life, do you look for another 40-40-40 job, putting your dream of your own home business on the back burner again for more of the same?
Do you know the end results of the 40-40-40 plan?
1% are wealthy enough to retire in comfort
3% are barely able to survive
27% are dead
69% are dead broke
Do you want to be in the top 1% that is willing to do something about it now, before it is too late? Being a former Human Resource Manager, I knew these statistics all too well, and I decided to take preventative measures.
Since you are still reading this article, I am going to assume you are looking for a change, moreover, a change as quickly as possible. So, let me share some of the wisdom I have gleaned from looking for a home business opportunity.
The two major focal points when looking for a home business opportunity are ones that will:
· optimize your efforts and time
· produce optimal financial rewards
Below are seven simple criteria to consider when looking for a home business opportunity:
1. Look for a business opportunity that offers a product or service that is, or will be, used daily by every household and/or business…
Think about products or services in your house that probably everyone around the globe uses on a daily basis. For example, services such as utilities, communication, appliances, etc., or products such as shoes, clothing, soap, etc.
Now think bigger – a product or service used on a daily basis AND that would represent a paradigm shift. For example, a paradigm shift was created in global communication when Alexander Graham Bell invented the telephone. Before 1885, no one had a telephone, nor had they ever heard the word “telephone”. Today, how many people do you know that do not have a telephone or cell phone?
Another paradigm shift was created when the first flight was made by the Wright Brothers in 1903. Today, man has already stood on the moon. Make yourself a list of products or services in your house that you can research to consider for a business opportunity.
2. Search for a home business opportunity that offers a product or service that has a global market…
It’s a small world. Plain old common sense would tell you that a home business opportunity with a product or service that has a global market would produce warp speed revenue when compared to one that is only within a local, regional, or national area. For example, the revenue produced from Microsoft with a global market is light years greater than that of a local shoe repair shop.
In addition, as you research this global home business opportunity, you will want to make sure that you are not required to stock products. It is time consuming to order products, receive and send out the products, manage backlogs, etc., not to mention the additional costs out of your pocket for shipping and mailing. You also encounter product changes or upgrades that makes your stock obsolete. So, avoid these types of home business opportunities like the plague.
3. An absolute must! Find a home business opportunity that incorporates leverage in its pay plan…
A business opportunity that incorporates leverage in its pay plan provides the best of both worlds. Leverage is a relatively simple concept. The best example is probably Ray Kroc and McDonald’s. Ray Kroc set up franchises for McDonald’s that agreed to pay him 3% of their profits.
In essence, McDonald’s sits back and collects 3% of the profits resulting from others exerting their time and their efforts. Let’s say, just for discussion purposes, that Ray Kroc sold 100 franchises and each produced profits of $50,000 that year. 3% would have produced $150,000 for Ray Kroc, yet he personally exerted no effort or time himself. What he did do though was brilliant, as he applied leverage by selling franchises, and became quite a wealthy man as a result.
Leveraging your home business will minimize your time and effort while maximizing your financial rewards. In a relatively short period of time, your home business will take on a life of its own, and you will be on the fast track to healthy wealth.
To find a home business opportunity that will rocket you into financial freedom, the company should incorporate leverage, not only in their business plan, but also in their financial rewards, preferably on a weekly, monthly, and annual basis – one of which should be residual. Residual is important because you want some form of steady income that you can depend on.
4. Search for a home business opportunity with a company that has live 24/7 support available…
Perhaps you have experienced the nightmare of attempting to make an automated payment where you could not figure out which button to push next, or what they meant by their selection choices, and you were unable to talk to a real person to get your question answered. The frustration even compounds when there is a deadline involved for a continuation of service.
Repeat customers comprise 75% of businesses, and satisfied customers will be the main reason for their repeat business with you and your product or service. Even in this automated society, the person-to-person contact is preferred, at least by the customer. Therefore, your success is dependent upon a home business opportunity with a company that has live, warm bodied live support 24/7 – whether it is support you may need, or support your customer may need.
Another important aspect of a home business opportunity with a company that offers live support 24/7, is the global perspective. What is morning for you may be the next day for someone else on the other side of the globe. To be honest, I am hard pressed to think of an international company with live personal support. Locally, they are even hard to find! So, when you locate a global home business with a personal touch, you have found a true gold nugget.
5. Seek a home business opportunity with a company that has a proven success record…
A lot of people, and a lot of companies offering their business opportunity, will tell you anything they think YOU want to hear in order to separate you from your money. When you talk to someone about a home business opportunity – turn the tables. You interview them.
Don’t be afraid to ask the hard questions like what they are making on a weekly, monthly, or annual basis with their home business. Ask them how long they have been running their own home business. Find out how many hours a day, week, or month they spend working their business. Ask them to give you examples of how they market their home business. Especially important is to ask if they have to spend additional money for items such as business cards, advertising tools, etc.
An example of a company with a proven success record is Xerox. Although Xerox is not a home business, it has a proven success record. In fact, they were so successful that their name is not only an icon, but the name “Xerox” is synonymous with the word “copy”.
6. Look for a home business opportunity with a company that incorporates training from experts and other professionals…
The majority of people on the Internet do not know how to harness the power of the Internet and turn it into wealth machine for themselves. Most people do not know how to market a home business. Therefore, a home business opportunity with a company that incorporates professional, expert training, taking you from the basics thru the advanced stages of a marketing system, including how to use software programs, marketing tools, etc., is a virtual gold mine.
Since the majority of people on the Internet are not savvy with how to harness its power, a home business opportunity with a company that incorporates professional expert training is a definite requisite for success.
7. Look for a home business opportunity where the company works as a Team.
We all have our own weaknesses and strengths. We all like to have periods of “fun” when we work. When you have a business opportunity where the company works as a team, then your weakness may be a team member’s strength. For example, you may be detail oriented and have a harder time conceptualizing or seeing the whole picture. However, someone on your team may be the opposite. Combining your strengths will optimize your productivity.
In addition, we all have our “good” days and our “bad” days. Have you ever been around a negative person for any length of time? They pull you down too! If you have your own home business, you need to be upbeat and project a positive outlook at all times. So, when we have one of our “bad” days, it is always helpful to have someone from the team help to re-focus on the positive. Then when all are sitting around on the beach somewhere sharing war stories and battle wounds, everyone will have a good laugh.
Well, those are my nuggets of wisdom when looking for a home business opportunity. If you would like to minimize your search time and discover a home business opportunity that incorporates all 7 criteria, I can offer you one final nugget -- simply go to: http://www.globalsnippetes.com
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Feel free to reprint this article in its entirety in your ezine or on your site so long as you leave all links in place, do not modify the content and include the resource box as listed above.
Dee Scrip is a well known and respected published expert author of numerous articles on Home Business, Business Opportunities, Fundraising, VoIP, VoIP Security, as well as other related VoIP issues. Other articles can be found at http://www.globalsnippets.com, http://www.free-pc-phone.com
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Choosing the best home internet based business opportunity is easier said than done. There used to be a time when making money online was not nearly as varied as it is today. The fact of the matter is that the internet offers many ideas that allow you to cash in big time. But before you can do that, you need to look into each home internet based business opportunity. If you do not consider all your options you may end up dealing with an idea that is not suited to your needs.
So how are you going to be able to choose the best home internet based business opportunity? This is not an easy question to answer. Since every person is different, there is not one home internet based business opportunity that is right for everybody who is looking to get involved. But with that being said, you should be able to do a few things that you will make the decision process simpler. After all, anything that will give you direction when choosing from the many home internet based business opportunities will do you good in the long run.
The first thing to consider when looking over home internet based business opportunities is what you are hoping to accomplish. Are you looking to make a lot of money so that you can use the internet as a full time job? Or are you seeking out a home internet based business opportunity that is better as a part time business? Either way, you need to decide early on what you are after. This will allow you to narrow down the internet business ideas that are out there, which will in turn give you the knowledge that you need to make a decision.
The next thing to consider is what you are good at, and what you like to do. If you are going to get started with a home internet based business opportunity you will want it to suit your needs as far as your likes are concerned. After all, a home internet based business opportunity that you do not like to work on each day is going to turn out bad in the end. Even if you think that something can make you a lot of money, if you are not going to have fun with it you might as well pass it by.
Choosing a home internet based business opportunity is not always a piece of cake. You may have to do hours of research before you decide what is right and wrong for you. But in the end, you should be able to make the right choice and then start raking in the cash before you know it!
Leonard Bartholomew, B.S. Computer Science. Find all of the elements of an extraordinarily simple online home based business opportunity at the Turnkey Business Blog.
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There is so much you can do with your business Fan Page on Facebook. You can post presentations of your products and services. Your team can be introduced with text, pictures and videos. You are able to communicate directly with your customers and prospects. And your customers can give you testimonials and recommendations. And all of this can be done for free on your Facebook business page.
After writing a couple of columns about the advantages of creating a Facebook business page, I thought I should tell you how to set it up.
In this Facebook how-to guide we will walk through the steps to create your own Facebook Business Page.
I hope you know how to join Facebook to install your personal profile but it is no really necessary for having your own Facebook business page.
Now create a Facebook business page and stand out. Create your Facebook fan page in minutes and watch your traffic grow after you create Facebook page with just a few mouse clicks and it is free as I said before.
So this is in any way a very good start to bring your business online before you have the money for an expensive business website.
Yes, you can do so by creating a Business Account. To get started, you will need to first create a Facebook Page. To start this process, click on "Create Page" after choosing Ads and Pages in the left menu of your Facebook Profile.
They will ask you:
"I'm the official representative of this person, business, band or product..."
Please don´t miss to read the terms of services so that you don´t get into any troubles because of your Facebook Business Page.
You just have to enter some information about your company and soon you will be welcome to a Facebook Page about your Business.
There you choose "Edit Page" and in the left menu "Applications" and "FBML". After that you can enter a title for the tab you want to be shown on your Facebook Business Page and below you put your html code for your website into the box.
You will find many explanations about this FMBL online, just enter it into your favorite Search Engine. There are many HTML commands allowed also on Facebook to show a real website on your Facebook Business Page.
So I hope this helped and I wish you much success with your Facebook Business Page. You can find many video tutorials about this topic on YouTube especially under my username VolkerSchaefer and also on my Facebook business page which has the username OnlineBizNow.
Volker Schaefer
http://www.facebook.com/OnlineBizNow
Who Else Wants To Get Their Business In Front of 1. 5 Billion Hungry Customers By Tapping Into The Power Of The Internet?
If you own a business, then you know the world is changing fast. Your new customers don't search for products and services the way your old customers did. Are you offering a great product, great service, and a great guarantee but still not seeing the amount of customers you want? If so, then you have a traffic problem, not a business problem.
http://onlinebiznow.com/
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I am truly amazed at how powerful Facebook has become for Women to engage in networking and building their businesses. Moms are staying home with their children and raising them while working online and building a large network of friends and business partners. Leave it to us woman to be part of the Social Media Revolution that has taken over the Internet. I know that Facebook is changing the way traditional and non-traditional businesses are running. Everyone is searching for the opportunity to use Facebook.
With the many amazing applications and tools that Facebook has to offer for many of those who run brick and mortar businesses, Multi-level marketing or just businesses online, it is impossible not to take in the Business Opportunities for Women using Facebook. Networked Blogs has come into the picture with giving Women the ability to post to their blogs and have it automatically updated to their Facebook profiles. The art of duplication is helping Women multi-task more than ever online. There are a number of tools that you can use to help you post onto Facebook and other social media sites all simultaneously.
Women can also use Facebook as a door to search for other opportunities that are available. Facebook allows for so much networking that finding another money making opportunity is only a Face away. Women can create Facebook Fan Pages to promote their businesses and it gives us the flexibility of advertising on Facebook. Facebook allows for advertising your Business Opportunities for Women using Facebook ads. This feature allows for businesses to target specific users by location.
And if you have a Business Opportunity to present to other women, why not use Facebook as your starting point? Don't be afraid to invite your friends to an online event by using the features available on Facebook. Many are using Facebook now to create a substantial income and grow their businesses.
If today you are not using Facebook as a medium to present your business opportunities to others, please consider using the tool if you haven't already done so, consider giving Facebook a try. You can outsource the work and pay someone to keep the Facebook business profile running for you. You can also learn how to use Facebook by connecting with marketing schools available online that will teach you how to exactly use Social Media Networking and many other types of marketing ideas and tips.
Facebook will continue to grow and add even more applications for business owners to profit from the site which will substantially bring continuous prospects to you and you will be amazed of the Business Opportunities for Women Using Facebook. Go ahead and find me on Facebook and add me, it will be a pleasure to Network with you.
Next, to learn more information about "Business Opportunities for Women Using Facebook" go now to [http://www.shakirawallmar.com]. Click on the Get Free Info button, to get more information about Staying Home and Earning More income for your Family.
Shakira Wallmar is a Business Mentor, Wife and Mother who is Passionate about helping and teaching others how to also become successful online by helping them achieve their goals.
[http://www.shakirawallmar.com]
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Social networking sites have really taken off over the last few years and can be a great way to promote a business or new venture. Facebook is probably one of the biggest of these around at the moment and is therefore worthwhile considering to promote your work from home business opportunity. By using Facebook you can build up a strong contact base as well as keep those who are interested completely up to date on your business.
Creating Facebook Groups
One of the great benefits to using Facebook over other types of social networking sites is that you can create and join groups. These offer you the perfect way to interact with like minded people who may have some interest or be able to help with your business.
The first thing that you need to do is set up a group page for your work from home business opportunity and explain what you do. Be sure to include contact details so that anyone interested can get in touch with you. It is also worth including links to your website or blog so that people know how to access your site. Once you have set up the group you can start adding friends and contacts. Be sure to ask them to invite their friends or anyone who may be interested as this can be a great way to spread word quickly. You can also invite members to join from other groups so maybe find others that have a similar client base.
Another great benefit is that you can email members of your group with offers or updates which can often guarantee views. However remember that this is a business account so make sure you remain professional and do not spam people with emails as this can easily put people off.
You can also choose to run special offers and discounts for those that are members of your group to encourage them to use your business.
Using Status Updates
Similarly to Twitter, Facebook allows you to update your account status as often as you like. This is a great way to promote any offers or news from your work from home business opportunity. It also allows for interaction since your contacts can then comment on your status updates and get involved.
It is important to remember that Facebook is not a quick method of promoting your work from home business opportunity. Often it will take a while to build up your group and contacts and you will need to invest some time in doing this.
Click here to receive FREE online marketing advice and tips to help you run a profitable home business.
Learn more about how you can make money online by visiting this home business advice site
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There is nothing wrong about getting extremely excited with an Internet business opportunity you come across. In fact excitement is good because what will usually follow is lots of enthusiasm and enthusiasm critical to the success of any Internet business opportunity.
However you should be very careful in your enthusiasm that you do not make any of the common mistakes many people make with their Internet business opportunity.
Here are some of the most common mistakes people make with their Internet business opportunity.
a) Joining an Internet business opportunity without knowing how you are going to promote it. Having a marketing plan or an idea of what you are going to do to generate traffic will always make a huge difference. One of the first things you should do when considering joining any Internet business opportunity is extensive popular keyword research.
b) Abandoning your first Internet business opportunity just because you have come across a better one. Probably one that pays better, or easier to market and sell or whatever. Take your time to make a decision about joining a certain Internet business opportunity and then when you have decided, stick to it. Remember that even if you are not investing any cash in your Internet business opportunity, you are certainly investing time, which is in fact priceless.
c) Joining an Internet business opportunity that has no track record of successful affiliates. I made this mistake once and it was because I came across this unique service that was just right for one of my sites, I hurriedly signed up for the Internet business opportunity, only to realize shortly after that I was part of an ongoing experiment.
d) Joining an Internet business opportunity that does not pay out comissions on sales from sub affiliates that you introduce to the program. When you do this, you leave too much money on the table because the potential income and revenue from sub affiliate sales is enormous and sometimes much easier to achieve than direct sales.
e) Failing to work hard at your Internet business opportunity. The net is a wonderful tool, but things do not happen automatically, you will still need to put in some work to make your Internet business opportunity work.
Learn more about the best home business opportunity from a blogger who rakes in thousands of dollars... and growing from their home business.
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The results come through several, right actions during a long period of time. The most important thing is to make a strategy, a plan, which you follow with all your actions in the marketing of your internet business opportunities.
1. Adcopy Is Important.
Write your ad copy like you are talking directly to your old friend. Use the words you, your and you are in your copy. This style brings your internet home based business opportunity closer to the reader.
2. Participate In The Discussion Boards.
The most active marketers of internet home work income business meet at the forum. That is a great place to share your experiences, get news and to build your own image or to join some joint venture. The sure thing is, that all members there are searching tips to make better business with their internet business opportunities.
3. List Your Internet Business Info In Chat Rooms.
Many of the internet business chat rooms accept free listings. Put your own internet business opportunity information into your chat room profile, it can be profitable.
4. Distribute Your Internet Business Info To Several Free Places.
Add it to your sig file, when you post to the forums of internet business opportunities, add it to the Bio Box of your ezine. Email post and articles and to numerous sites, which accept links.
5. Tell The Visitor, What He Has To Do On Your Site.
Reading does not mean business, doing internet business means that the visitors do what you want them to do. They have to take actions. So you have simply to ask them to order or to sign in.
6. Sell Benefits, Not Features.
If you want your internet business opportunities to become successful, your visitors must realize how they can benefit from your site. Check that your landing page tells clearly the promise to the reader. Sell 10 millimeter wholes, not 10 millimeter drills!
7. Trust On Your Copy.
Do not load your site with technological gizmos about internet business opportunities. People appreciate more your own words. They understand that banners try to utilize them, but your words try to offer benefits to them. See the difference?
8. Create Your Own Style.
Branded goods marketing requires that you create your own style to be able to stand out from the crowd of other internet business opportunities. It is better to be powerful in a small niche, than to try to be mediocre in many niches.
9. Your Visitors Love New Things.
The most successful marketers change there content regularly, but manage to keep their style. This makes the site visitors to understand that the site follows the trends and offers new things regularly. It is also a sign that the site has decided to be successful in the long term.
10. Concentrate On The Customer Support.
Today all the communication is quick and people are very willing to share their experiences through forums and chat rooms. If you are active and will respond quickly to the feedback from your prospects and customers, you have a chance to keep the image of your internet business opportunities positive and to stop negative communications right away.
Juhani Tontti, B.Sc., Marketing. I Have An Excellent Training Course For Internet Business Opportunities. It Can Conduct Your Internet Home Based Business To Make Money Online. Visit: www.Way2Miracle.com
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The benefits of home based business are becoming clear to many in the U.S. and across the world as more and more people set up to work from home. Statistics collected in 2006 estimate that legitimate home based businesses account for an annual revenue, in the U.S., of more than $100 billion dollars. This is quite a considerable sum and it's clear that people are starting to realize the multitude of advantages offered by this method of working.
The most excellent rule of thumb while choosing a home based business to follow at home is to choose something that you would like or you would use. It is easy to be keen about something you like. If you like it, your customers will, too. If you like, your customers will also like it. Loving your product will make it simple for you to operate your home based business. Working from home is always easy, so it is important that you love what you do. So always select a home based business that appeals to you, and you will have taken the first step to become a successful work at home entrepreneur.
Instead of meaning working on your computer and talking on the phone at the same time in an office, your new version of multi-tasking when you work in your own home based business may include talking on the phone while you feed your baby, recording business letters while you walk your dog, or problem solving while you throw in a load of wash. Hundreds of thousands of people are operating their own home based business.
Finally, you need to choose which industry or topic you are interested in. You need to choose a business in which you have some expertise or experience and that you enjoy. After making all these decisions, you can choose a home-based business that will work for you and begin working on marketing your business to your target customer.
The increase in home-based businesses popping up nationwide is due very much to the idea that many mothers are starting businesses in order to choose a work-at-home lifestyle to bring income into the home, and at the same time, raise their children at home rather than placing them in daycare. While these home-based business are operated in a nontraditional work environment, in perhaps a nontraditional style of operation, they are nonetheless the same as other businesses in the style of carrying inventory, making purchases for the business, marketing the business, and creating a web presence. Business loans for women are crucial for small businesses such as these. Many have proven to be just as successful or even more successful than traditional businesses and businesses owned by men.
Owning a home based business offers many benefits to you and your family. When you work at home in your own home based business you can often adjust your work schedule to reflect the needs of your family, working, for example, when small children are sleeping or in school. Owning a home based business also gives the term 'multi-tasking' a whole new meaning! Instead of meaning working on your computer and talking on the phone at the same time in an office, your new version of multi-tasking when you work in your own home based business may include talking on the phone while you feed your baby, recording business letters while you walk your dog, or problem solving while you throw in a load of wash.
Hundreds of thousands of people are operating their own home based business. A home based business is just like any other business except it allows the owner(s) to work at home some or all of the time and -- generally speaking, they cost less to start because of greatly reduced overhead. Obviously, with your own home based business there is no storefront or office to rent, fewer or no additional phone lines to pay for, little or no additional utility expense, little or no additional furniture to buy and the cost savings go on!
Some of the expenses of a home based business are the same as brick and mortar types of businesses and will vary depending on the type of home based business and how it is operated. These types of expenses include: advertising, employee costs, corporate taxes.
There may also be many tax benefits to owning your home based business. You may be able to deduct, for example, the mortgage payment, property taxes, repair, maintenance and cleaning costs, as well as heating and cooling costs for certain parts of your home that are directly involved in the operation of your home based business.
Organizing your tax records and information can be a cumbersome task. For most business owners, the tax benefits of running a home based business are often lost among stacks of paperwork and accounting jargon. In this video you will learn tax saving tips that will help you run a more effective and profitable home based business.
There are probably thousands of different types of home based businesses that one can start. There are also many home based business kits and plans that can be purchased which would allow the new home based business owner a 'ready to go' business that may involve less risk and less start up experimentation. Another type of home based business is the home based mail order business which would involve basically three components:finding and advertising products or services that sell, processing orders that arrive on the internet or in your mail box, and delivering your orders.
A home based business is any business where you work from home (the clue is in its name, really). There are innumerable great opportunities for starting your own home based business. The advantages of a online home based business are obvious: commuting, no boss, more money for you, setting your own schedule. Many people dream of all these things but never seem to make that leap.
Todd Ash Is An Entrepreneur and A Master Of Network Marketing.To Find Out More About Succeeding Online Click Here To Visit Toddash.com For Free Information
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There are about three big opportunities per lifetime. Like baseball, if you miss all three, you are out. Do you remember the last online homebased business opportunity you missed? Did you miss Microsoft? Did you miss Yahoo? Did you miss Google?
Couda, shouda, wouda
Why did you miss out? Was it lack of knowledge? Was it indecision? If it was lack of knowledge, you can forgive yourself. You can not know what you do not know. There was nothing you could do about it. If it was indecision, there was something you could have done.
Oportunity is the fruit of Convergence. Peter Drucker defines opportunity this way:
"Opportunity in the market place is because of a process of convergence of forces that were previously not together."
The idea of forces coming together, converging, is stronger than the business itself. The essential forces Peter Drucker did not individually identify as converging will be enumerated and discussed in this article.
There are five essential forces that must be present for any successful online homebased business opportunity. This article will describe these five essential forces that must be in place for any online homebased business opportunity to be successful. These five essential forces apply to any online homebased business opportunity. They are universal, abstract, and independent of business type. They apply from academia to zymology.
A simple analytical method to evaluate these essential elements and arrive at a numerical figure of merit will be presented. The method is strong, impersonal, and reliable. You will arrive at a numerical rating for the relative strength for the Probability of Success (S) for any online homebased business opportunity you care to evaluate. Reducing the evaluation to a number between zero and 100 gives you a powerful, impartial method to evaluate or compare any online homebased business opportunity. This will remove emotion from the decision process.
Convergence of these five essential ingredients is absolutely essential for success. All five forces must be present simultaneously. In other words, they must all converge at the same point in time for the same business venture. They must all be in the right place at the right time to create a successful online homebased business opportunity.
These forces are the essence of all businesses, regardless of product. They are like the spokes in a wagon wheel. If one spoke is missing, the wheel breaks down. Each factor dramatically affects the success of any online homebased business opportunity.
Without the convergence of these five forces there is no online homebased business opportunity. If there is no convergence, there is nothing you can do to make the business a success. No amount of hard work and no amount of money will yield success.
Opportunity presents itself only when all these forces are in simultaneous alignment. One force is not considered more important than the others. The order in which they are presented is no indication of their relative values. They will be discussed in random order.
This method is not buried in concrete. Feel free to make your own assessments of relative importance. When you finally establish a value, stick with it. Be consistent so comparisons can be made between one online homebased business opportunity and another. For example, if you decide leadership has a maximum value of 2 or 5, stick with it on any online homebased business opportunity you wish to evaluate.
It will be convenient if the sum of the maximum values allowed always equals 100. In this case, Leadership has been arbitrarily assigned a maximum value of 2. All you need to do is decide if the leadership of your proposed online homebased business opportunity deserves a zero, 1, or 2.
1. Company (C ) (Maximum = 20)
Company Management (Maximum = 10)
Leadership (2)
Confidence or trust (2)
Experience (2)
Honesty (2)
Influence (2)
Company Financial Stability (Maximum = 10)
Assets (2)
Cash (2)
Credit Rating (2)
Visibility (2)
Technology (2)
Many start-up online homebased business opportunities do not have the financial assets to sustain their own growth. A viable online homebased business opportunity must have very deep pockets or be owned by a company with very deep pockets, preferably a parent company that has already gone through the growth cycle and has the funds to support the new growth.
2. ProDucts (D) (Maximum = 20)
Leading Edge Product Technology (Maximum = 5)
R&D
Proprietary (No other place to get it)
Competitive
Product Quality (Maximum = 5)
Quality, like Reliability, must be built into the design and process. It cannot be "tested" or "worked" into the products.
Product Fills a Recognizable Need (Maximum = 5)
There should be a clear need for your product or service. If there is no need, there is no demand, and there is no opportunity. There may be very little demand for 78 rpm vinyl records.
Consumable (Maximum = 5)
If the product is not consumable, there is no additional market after the initial sales and there is no opportunity.
Trends (R) (Maximum = 20)
Demographic Trends (Maximum = 10)
As individuals, we can not create a demographic trend. We can only recognize it and take advantage of it. The "Baby Boomers" are the largest market in history. Starting immediately after WWII, 76 million babies were born during the period between1945 to 1964. When the first of these babies were born, a powerful demand for baby products materialized. Companies like Johnson & Johnson and Gerber's made huge profits. As these babies started shaving, Gillette started making huge profits. As they learned to drive, the Ford Mustang was in demand. As these babies began to have babies, the Mini-Van became desirable. If your online homebased business opportunity is positioned in front of the Baby Boomers, assign Demographic Trends a maximum value.
Economic Trends (Maximum = 10)
Individuals do not create an economic trend. Individuals have no control over economic trends; however certain businesses are sensitive to economic trends. Real estate is sensitive to interest rates. In times of economic downtrends a low number would be assigned. Cosmetics, on the other hand, are virtually immune to economic downtrends and would be assigned a high number. People will give up eating to look good and feel good. If your online homebased business opportunity is immune to economic trends assign a high number.
Timing (T) (Maximum = 20)
You have no doubt heard the expression that in real estate the three most important factors are Location, Location, and Location. In an online homebased business opportunity, the mantra is Timing, Timing, and Timing.
If one force is more important than the others, perhaps timing is the most important element of success. Timing, like trends, is also beyond your control. Like trends, you can only recognize timing and take advantage of it. There is nothing you can do to improve timing. It is either there or it is not. If timing is present assign a high number based upon the following criteria.
A. Formulation Phase: (Maximum = 20)
This is the phase where research and development are just completed. Production and initial marketing efforts begin. This region is characterized by slow, deliberate growth. As an agricultural example, this is the time for planting. It is defined as the region of the growth curve where income from sales is less than $50 million per year.
This is the time to get into any business. It requires forethought and knowledge. It does not require speculation. It requires due diligence on your part to study the online homebased business opportunity and arrive at your estimate of the strength of the five essential force ingredients of a successful online business venture. If you identify that your online homebased business opportunity is in the formulation phase, assign timing a value of 20.
B. Critical Mass Point
he critical mass point is defined as sales of $50 million per year. This is the point which will determine " When". This is the point when your labors will begin to yield fruit at such a great rate you will be unable to contain them. From this point onward, the curve rises ever so steeply. This is the time to act quickly and decisively. If you are not on board at this time, your online homebased business opportunity will quickly leave you behind. If you identify that your online homebased business opportunity is at the critical point, assign timing a value of 20.
C. Momentum
Momentum is defined as sales greater than $50 million per year and increasing very rapidly. If you have exercised your desire, ability, and motivation, you have already become a participant before your online homebased business opportunity reaches momentum. You have exercised your choice and are now in position to enjoy the fruits of your labor. There is nothing you can do to stop the momentum which is now building beneath you. It is beyond your control. It is like a giant wave that carries you to the pinnacle of success. There may be some who grab onto an online homebased business opportunity as it speeds by them, but the exponential growth eventually decays exponentially as the wave crest rises higher and higher until the opportunity diminishes. For example, you could buy Microsoft stock now, but the big opportunity is already over and it will never come back again. If you find your online homebased business opportunity is just starting into momentum, assign timing a value closer to 20. If you find your online homebased business opportunity near the top of the curve, near stabilization (defined below), assign timing a number closer to one.
D. Stabilization
This is the area where the exponential growth has died out. Momentum has dissipated. Sales are good, but sales are not increasing exponentially. The business is mature, stable, and secure. The curve is relatively flat, and growth has slowed to a value similar to the development phase. The online homebased business opportunity has gone. It is passed. It is over. There is no online homebased business opportunity. If you find that your online homebased business opportunity is in stabilization, assign timing a value near zero and start looking for another online homebased business opportunity.
Compensation (K) (Maximum = 20)
Leverage (Maximum = 10)
If you trade time for money, you will never get ahead by investing one increment of your time for one increment of income. You will remain in the very treadmill you are trying to escape. You will get by, but you will never get ahead. If you want to get ahead, you must find a way to multiply your efforts. That is done by leveraging yourself. J. Paul Getty stated this clearly when he said:
"I had rather have one percent of a hundred people's efforts than 100% of my own efforts".
If you have no way to leverage yourself (e.g. fixed salary) assign leverage a number near zero. If you can leverage yourself, assign a number closer to 10.
Multiple ways to earn income (Maximum = 10)
Sales Profits (1)
When you can profit from your own sales efforts, assign a value of 1, otherwise zero.
Override (1)
If you receive override compensation on the efforts of others, assign a value of 1, otherwise zero.
Matching (5)
If you can receive matching compensation on the efforts of others, assign a full value of 5.
Residual (2)
If you can build your equity to the point that you have residual compensation from your previous efforts, assign a value of 2.
Perpetuity (1)
If your equity is yours to sell or will to your survivors, assign a value of 1, otherwise zero.
Define the Possibility for Success (P) as being totally dependent upon the sum of the five prime forces required for a successful business (above). Notice that it has nothing to do with you. The only thing you will do is evaluate each ingredient and assign it a strength value. This will depend upon the research you conduct to gain information about the five essentials for the particular online homebased business opportunity. Assign each one of the five ingredients a value from zero to 20 according to the instructions presented above. (Naturally, 20 is the ideal, strongest value.) You have determined all the values for C, D, R, T, and K.
Repeating, you have evaluated each force ingredient separately and arrived at your evaluation of its relative strength.
Add up all five of your separate evaluations.
P = C + D + R + T + K
For example, if all five ingredients are present in your online homebased business opportunity and each is individually evaluated as being 20, then:
P = 20 + 20 + 20 + 20 + 20
P = 100
Let us further define a Multiplier (M), as a figure of merit derived from your desire, motivation, and ability to succeed. Let M be limited to a number between zero and one with zero being the worst case and one being the best case. Note that this multiplier is entirely dependent upon you, not the online homebased business opportunity. Determine this multiplier number by self-evaluating your desire, ability, and motivation. Notice that the multiplier number does not depend on your time. Too many people say "I don't have the time." That means you are "too busy chopping wood to stop and sharpen the axe". Successful people do not have time---they make time. Ideally, you want to rate yourself as a "1", not a zero. But unto thine ownself be true.
Define Success (S) as:
S = M(P)
If you are a "one" and not a "zero", and all five ingredients of your online homebased business opportunity are present at their full value, there is no gamble since:
S = 1(100)
S = 100
Having completed your "due diligence", failure is no longer an option or possibility. The probability for success is 100 percent. Your success is assured. It is no longer a question of "If". It is simply a question of "When".
Get on board this online homebased business opportunity fast
Use this procedure one each online homebased business opportunity that you wish to evaluate and compare.
Jack Price gives a simple, powerful way to find out if any online homebased business opportunity has the chance to succeed. Jack is an engineer (ret), artist, and internet marketer. View Jack's artwork at [http://www.autoimmune.biz]
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Home based income opportunities through the internet allows for you more time to do things that you really love to do. Better yet if you can start a business online involving something you have a passion in, it makes running your business something enjoyable. This can be the make or break point in your business. The great thing about the internet is that you can pretty much start a business in any niche you desire.
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Affiliate marketing
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Freelancing
Freelancing is a little more work on your part because unlike affiliate marketing you get payed for doing projects for clients. If you know how to write, create websites, or anything of the sort, there are plenty of people looking to outsource tasks of these types. You can check out Elance.com, and even create an account if you'd like, to see exactly what types of tasks are being outsourced.
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