In this day and age it is almost
impossible to maintain a decent standard of living on one paycheck,
but in a family where children are involved it is not always feasible
for both dad and mom to have a job outside of the home. Daycare
expenses, the need for a second car, and too much time away from the
children are some common drawbacks. This, however, is the exact
situation that a Home Based Business works to its greatest
advantage.
Home Based Businesses are great and can be extremely profitable but without the proper knowledge and tools you can waste an incredible amount of time and/or money which defeats the purpose you started out with, namely to make money and have time to do the things you want to do. This article was written to give the average person like you and I a practical guideline to getting started in a home based business the right way, and to save you wasted time and money.
My experience has shown me that there
are basically 3 main pillars or principles of a solid home based
business.
Pillar #1: It must have minimal start up cost.
A
home based business that has a high start up cost will take longer to
see a profit, and as we said earlier, time is one of the things we
are trying to cut down on. Minimal cost will also make the home based
business more accessible to a larger amount of families or
individuals who are just starting out.
Pillar #2: It must be
easy to set up and maintain.
The more complicated your home
business project, no matter what it is, the more likely you are to
give up out of sheer frustration before you see a profit. A business
that is easy to set up and maintain will give you confidence and a
sense of accomplishment as you complete each simple step in the
process.
Let's face it if you enjoyed wasting a lot of time
and effort maintaining a home based business you would not be reading
this article. This is about freeing you up to spend time with your
family and doing the things you love, not creating another taskmaster
to replace your job! The first two pillars of a solid home based
business are necessary for the third to occur.
Pillar #3: It
must have a quick return on investment. (ROI)
You can spend
months building a home based business but if there is never any real
profit generated in a reasonable amount of time many people may get
discouraged and give up. What is a reasonable amount of time? I would
plan for a time frame on the order of weeks instead of months.
Depending on the type of home based business some people have had a
decent ROI within days, and unbelievable as it may sound some
businesses that deal with affiliate marketing and sales can see a
profit as early as 15 minutes from startup!
You may be thinking to yourself "that's
too simple!" Let me say that within these 3 pillars there is
plenty of detail to keep anyone busy. The business that you choose to
start should definitely be something that interests you and possibly
even something that you already have a measure of experience in
doing. Whatever home based business you get involved in make sure
that it is propped up by the 3 pillars listed in this article. Do not
make the mistake of over complicating your efforts or you will see
very quickly that you will get bogged down with a lot of needlessly
wasted time and effort.
Here's to your home based business
success!
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