The Pros And Cons Of Starting An Online Business From Home

Starting-An-Online Business From Home

What Are The Top Reasons To Start An Online Home Business

Firstly I would like to ask you a question. “Do you wake up in the morning feeling sad and having a sense of dread as you set off to the office or job that you no longer enjoy? Do you hate that daily commute and would rather work from home in your Pyjamas?”

I am so Grateful that we have been able to work from home for over 6 years and these are some reasons I believe having an Online Home Business will put a smile back on your dial.

There is no crazy morning rush. I think back to how stressful it was getting 4 children ready in the morning before we went to our respective traditional businesses. Would you love to get up in the morning and be able to potter around in your pyjamas, shorts or even your swimsuit? No more buying expensive suits and work wear.

For all you women that means not having to fix your hair and makeup every morning for your job. For the men, maybe you will choose not to have your morning shave. Having an online home business means you have low overheads, with no need for staff and no rent, while still having tax advantages which you don’t get when you work for a boss.

There is no need for lots of office equipment, only a laptop and a phone. You will find it very satisfying, working the hours you want, when you want. Learning new skills, is a part that can really be fun and I have found can give you a great sense of achievement. You will know for sure you can’t get made redundant, because YOU are the boss.

If you have a very profitable week you can take the rest of the month off, you certainly can’t do this working in a job. You don’t have to work with people you don’t like, instead, you choose who you spend your time with, which is a lot more fun.

For those of you that are parents you have the added advantage of no expensive childcare. You can even work your business in the evening when they have gone to bed and spend quality time and fun with them in the daytime if you choose. Imagine being able to wake up when you have finished sleeping and not to an alarm clock, (Total Bliss).

If there are things you don’t like to do there are many places where you can outsource these jobs very easily and for a very affordable price. Because you are able to market globally you will be able to interact with people from all around the World. This also enables you to generate income 24/7.

Imagine waking up in the morning to find money has been deposited into your bank account while you were sleeping, it’s such a surreal feeling. Make money while travelling the world, for instance we were on holiday with our 4 children in Acapulco, checked our laptop one evening and found we had made $7,500.

Another time we were on a Boutique cruise ship, cruising around the Greek Islands. We got back onboard after doing a tour of Santorini and after going online found we had made $21,000. Is this the sort of results you would like to experience?

Better Lifestyle, need I say more, what would that mean to you? Where would you travel to, what would you do if money was no object. One thing I would recommend would be to write a list of all the things you would like to experience and achieve before you die.

Imagine crossing them off one by one, how would that feel? No wasting time spent traveling to and from work, you would be amazed how those hours can add up. It’s a fact that in a lifetime the average person spends 9,100 hours commuting for work.

Did you know that as of 31st December 2011 only 32.7% of the Worlds population has internet access. That means unlimited growth potential. Working from home encourages efficiency, the quicker you finish your work the sooner you can spend the rest of the day doing whatever you desire.

What about going out for lunch with family or friends and then to the latest movie. Maybe go for a swim at the beach, play golf or have a yoga lesson. The possibilities are limitless. If you finish your work early in your job, you don’t get to take the rest of the day off.

Do you ever wonder why? Most jobs are not paying salaries that are keeping up with the cost of living. Get paid what you are worth, not what your boss thinks you are worth.

“Did you know that as of 31st December 2011 only 32.7% of the Worlds population has internet access. That means unlimited growth potential…”

More people more than ever are looking for an online home business. You can do what you love, why wouldn’t you? You only have one life. You can earn passive income and therefore build generational wealth.

Of course all the above are great reasons to start a Online Home Business … but the reality is unless you treat it like a real business it will not work! As the old saying goes: “if you treat it like a hobby, you will be paid hobby money…” But if you treat it like a business you will have the ability to replace your job income or more from home!

What do we mean by that?

Well it’s not rocket science, for example say you could raise the money for a franchise, and lets say it’s $250,000. Do you think you are going to concentrate, pay attention to how the franchise works, train your staff, sort out equipment, rent premises, arrange insurance, etc., etc. Of course you are! You have just invested a lot of money!!

But when it come s to a Home Based Business people tend not to treat it like a real business, things don’t get done, “I’ll fix that up tomorrow” or “I have not got the time right now” and a hundred other reasons not to get started properly. Facts are facts, very few first time businesses, either traditional or home based last more than 3 years!

But there is an answer, get a real business plan, even if you are still working in a traditional job at the beginning or say you are a stay at home mum, you can still run a very successful Home Based Business!

The key is a Daily Method Of Operation (DOM), make sure that you work in your business, make sure there are Income Producing Hours! If you get your head round this aspect and Take Action you are on a winner.

In most cases when you first start out you literally don’t need to know it all, you just need to get started, yes you will probably make some mistakes at first, but remember to Fail Forward, be prepared to learn from your mistakes.

In most Home Based Businesses there is usually access to a coach or business mentor who will guide you through the early stages of a business set up. Use Them! You don’t need to be in their ear 24/7, obviously make the time to learn all you can yourself, after all it is your business, but on the other hand if you are not really sure, ask.

“In most cases when you first start out you literally don’t need to know it all, you just need to get started…”

We have been working full time from home for over 8 years and in that time through various businesses we have had to learn a lot ourselves. However life is so much easier if you have a coach to call on when you can’t answer the question yourself.

It has saved us thousands of dollars of potential loss through misjudgement or just not understanding what the next step was. In turn it has saved some of our business associates thousands of dollars from the scammers that are out there just waiting to take your hard earned dollars from you.

For example in one particular business we had a few of our team called up by a company out of Las Vegas telling them could get them to Number One on Google, for a cost of $5,000 this was a total scam, thanks to some experience we were able to get their money back for them. We also warned others which prevented them from losing their money in the first place.


The Pros and Cons of Starting an Online Business from Home

As with most things there are pros and cons you need to take into consideration and be aware of, just like any other decision you make in life. I have provided a list of the pros and cons in starting an Online Business from Home. There may be other pros and cons that you would like to add to your list, however this is a guide to get you started in the right direction.

“The Cons” to Online Business at Home

LONELINESS

If you are use to working with others as a team, or just use to being around co-workers, you may experience a sense of loneliness. Now you are at home, alone, just you and your computer.

MOTIVATION

When surrounded by the comfort of your home and perhaps the temptations that may cause you to become side-tracked, you need to keep yourself motivated. Time management is significantly important when operating your business from home and it may be difficult for you, however, motivation is of utmost importance.

DEDICATION

Along with motivation, you also need to keep yourself dedicated to your business. Motivation and dedication will be significant factors in the success of your business. You may want to have a calendar at your desk with daily motivational quotes to read upon the start of each day.

NO ESCAPE

You may sometimes feel as though you are working 24/7. It is important to have an office area in your home or a room that is dedicated to your business only. It may also be a good idea to create a schedule for yourself and set your own hours for work, family, social time, or anything else that you may do in your day, to allow for other things that are also important factors in your life.

INTERRUPTIONS

Your friends and family may not realize how much time and work is involved in starting and operating your online business, therefore, you will also need to learn how to deal with these interruptions and set boundaries for yourself to allow for plenty of time to work.

TEMPTATIONS

When working from home there are many temptations that may drag you away from your work, (i.e., watching TV, chatting with friends, and/or becoming distracted with your social networks online), so therefore it is important to set time for these also.

“The Pros” to Online Business at Home:

LOW COSTS

The initial start up of your business in your home will save you money as opposed to the expenses involved in rentals for premises of your business, along with other costs that may be involved. If you have a computer, you have the most important piece of equipment to get started and you may add to any supplies as your business begins to grow.

GLOBAL CONNECTIONS

Starting your own online business at home, allows you to find and connect with customers globally, you are not restricted to your local area.

NO TRAVEL REQUIRED

You will be cutting costs by working from home and not having the expense to commute to your job or business premises. It is also a huge plus to not have to get up in the morning and head out into the cold during the winter months and have to travel on congested roads.

You may possibly be able to get rid of your vehicle or downsize to a vehicle that may be more within a budget for you if you are looking at cutting costs.

FLEXIBLE HOURS

You will have the freedom of setting your own hours. If you have children this will be beneficial in fitting in the school runs or activities you will be available to attend. Another plus, if you want a particular day off, you no longer need to submit a request and hope that it gets approved for that particular day or vacation you are planning.

Like we have mentioned previously, you may be afraid of taking that initial step in starting your online business at home, but if you weigh up the pros and cons you may begin to realize that this is the best thing you have ever done. However, only you can determine whether this is right for you or not.


How To Start a Business Making Money Online

One of the best ways for an eager young entrepreneur to make money from the comfort of their home is to create your own business. Starting a business is easier than it has ever been, and with the nature of the internet you don’t need to necessarily spend a lot of money up front on staff, office space, and a store front.

This means that you can start your company inexpensively, and watch it grow as you learn what practices work and which ones don’t. The first thing you want to do to get your online work from home business started is to decide how you want to make money.

You have a lot of options here, you can sell physical products, you can sell a service, or you can try to make money off of advertising. Each one has benefits and drawbacks to it which you should weigh carefully before making a decision.

MAKING MONEY ONLINE AS A RETAILER

Probably the most common way that people make money online is by selling things. There are numerous ways to become a retailer, and many of them are so simple and inexpensive that you can start out doing them part time from your home, while still maintaining your day to day job.

One of the best ways to get your feet wet making money online as a retailer is with eBay. This is an auction site that allows you to post ads for products of almost any type. They only charge you a few dollars per ad, which allows you to get set up quickly and inexpensively.

That means that you can start out part time with just a few ads a week, and then monitor your progress in order to better learn the process and the market. When you’re ready to get serious as an online retailer you will want some sort of website and store software so that you can begin carrying products.

You should take your time when looking around for shopping cart software, and try to get usage of a demo or trial run before you down money – This will ensure that you find something which you can easily work with.

MAKING MONEY ONLINE SELLING SKILLS AND SERVICES

If you have a special talent there are a number of ways you can turn that talent into a work from home business. In the case of selling skills, you will still need a website, but you won’t need to get the shopping cart software.

Rather you want to set the website up as a way to get people further engaged, either by directing them to fill out a contact form, or call a phone number. A large part of selling services online is attracting customers who are interested in employing you.

Social media like Facebook and twitter can be an invaluable tool for this letting you connect directly with people who might be interested in your assistance. You can also use Craigslist as a way to reach potential local customers with free online classified ads that market your services.

MAKING MONEY ONLINE SELLING ADVERTISING

Selling advertising space is the way that many artistic endeavors have supported themselves over the years. From magazines and newspapers, to radio and free public broadcasting channels, advertising can help to make what may seem like a frivolous pursuit, actually financially viable.

“A large part of selling services online is attracting customers who are interested in employing you. Social media like Facebook and twitter can be an invaluable tool…”

Online there are a wide variety of media outlets that you can use to try and create a site that is popular enough for you to make money selling advertising on it. Probably the simplest way to create such an entity is with a blog. Blogging software allows you to publish pictures, videos, and written articles to the internet quickly, easily, and hassle free.

You can also choose to create other media sites such as a forum, a wiki, or even a small social network based on a particular niche. The key is going to be attracting enough customers that you can actually make money by displaying and selling advertisements.

Once you have a thriving active site, you can choose to display contextual ads such as those from Google adwords that will dynamically change to match the content on a page in your site.

You can also use affiliate links to team up with a merchant, and take a percentage of any sale that comes from a customer you send to them. Finally you also have the option of selling posts within the content of your site to companies, although this is sometimes considered to be immoral.


Home Business Tips, Tricks And Techniques For Success

To keep your business and personal emails separate, set up an extra email account using your business’s domain name. Use different email providers as well. You could choose to check one online, while having the other delivered to Outlook.

When the time comes to hire employees to assist with the home business, be judicious in your personnel selections. You want to make sure that your employees are reliable and skilled in the product that you are going to sell, or else you are taking the risk of your business flopping.

Join online forums that focus on home based businesses. If you search them out, you can get some good tips from them. There are also many online blogs that you will find helpful. Make sure you take all deductions that you should, including the cost of entertaining clients, in order to save what money you can on your taxes.

The costs of these meetings are legitimate, tax-deductible business expenses. Make sure that these business meetings are with potential clients or ones who have already paid, otherwise these expenses are not tax-deductible.

You may want to hire an accountant for your tax and financial matters. Taking the time to learn about taxes can take time away from your work, lessening your profits. Get your home business a website. Your website can be created by you, or you can hire a professional webmaster. Be sure to create a site that is easy to navigate.

Your customers will appreciate if you provide them with helpful content, methods of communicating with you, and the ability to order your products or services through your website. Keep learning about ways to improve your business website.

Obtaining investors can be a very intrusive process. Potential investors will feel that they have the right to know about every part of your business and will have many questions for you. Maximise your profits with the money you already have. Always save receipts if you work for your business through home.

You should keep all receipts from business expenses so you can use them in tax deductions. You should make it a habit” to save all of your receipts if you’re not sure which purchases are tax deductible. You may end up paying more taxes than you owe.

You should have designated work time where your family and friends do not disturb you. Politely inform uninvited or early guests that you must finish your work. You may need to turn your phone off, or stop answering the door to get the point across.

You should select a business name that has meaning with regards to the products and services you are selling. Your name should be representative of what you sell, which is why it is important to have a name that customers can appreciate. There could be a freaky or elevating tale connected to your brand name.

By doing this, your brand will become familiar and customers will be loyal to your product. As you’ve learned throughout this article, there are many common-sense tips and tactics that you can use in order to grow your home business. If you’re willing to put in the work, you can certainly be successful.


Home Business Tips That Can Work For You

If a person told you all about how you can start a home business and eventually leave your job, what would you say? Most of the people offering these opportunities make their money by convincing others to purchase work from home packages.

While people do work from home, it is not something that has a magic formula for success. The tips available here will help you know what is required to own your own business. If you can establish your customer’s locations, you can target them geographically.

While you can effectively increase your customer base via the Internet, don’t forget to take advantage of marketing opportunities through traditional offline methods, as well. Most communities have events like festivals or craft fairs where you could rent a booth and reach the public directly. You should forever be looking forward.

While celebrating recent successes is important, you should recognize that these events are over, and you should always look forward. Your focus needs to be what is waiting in the coming days and weeks. These things will prepare you for newer opportunities and future obstacles. You will be less likely to be surprised by following this plan.

It’s important not to make too huge an investment into a new home business, so try not to spend a lot right off the bat. When your work location is your own home, you will not have any rental costs for a separate business location.

Keep the savings from this choice by monitoring your other expenditures and making sure you don’t buy things you don’t need. Your small investment allows you to keep your costs reasonable for clients too.

Sell your products or services from your business website to increase sales. To compete in today’s market you need the ability to sell your product online, not just at a physical location. Many on-line providers allow you to register domain names at affordable rates.

Pay attention to buzz about the products you sell, and learn how people perceive your business. If you own a business, you need feedback, so search online, ask friends, family and customers, and consider holding focus groups.

Knowing what people think, whether it’s good or bad, helps you to know what is working and what needs improvement. Operating your own home business sounds glamorous and fun, but it takes a real desire to succeed, a ton of initiative, and a whole lot of discipline.

Some local councils have regulations specifying the criteria for buildings used for commercial purposes. Depending on your council’s laws, you may want to consider having a separate office built on your property, so you do not have to bring clients into your personal residence.

This also helps you keep the spheres of business and home from intersecting. Search engine optimization is a useful tool for home businesses to increase visibility in online search results. A higher rank translates into more traffic towards your website.

Seek out information on many different websites and blogs to be sure that you’re learning all that there is to know. Remember that you can deduct expenses incurred entertaining clients, including things like treating them to dinner during a business meeting.

Any such costs are generally viewed as necessary and legitimate business expenses. Make sure that the clients are going to remain clients, because otherwise these outings aren’t tax deductible. Always check with your accountant to be sure such costs are deductible.

Always have an emergency fund for your business to avoid cash flow emergencies. Then you are prepared for all sorts of unexpected turns. However, the emergency funds should be used for emergency only. When starting a home business, sell a product that fulfills a need.

Customers are sure to be interested in purchasing something with the ability to help with an issue they regularly confront. Put your efforts into finding a way to solve a common problem, and your product will be successful.

It is easy to forget that personal interaction with others is a benefit of working. Going about your daily tasks while in your pyjamas may be enjoyable, however, you will soon miss the social aspect of working.

Try going out to various places during the week to maintain personal friendships. Keep to a reasonable work schedule. Mark out definite time periods you will be working so that you don’t become too stressed. You may have to work late occasionally, but be careful of burnout.

One of the best ways to lower your stress level is by spending quality time with family members. There are many common-sense tips and tactics that you can use in order to grow your home business. If you’re willing to put in the work, you can certainly be successful.


11 Reasons to Run a Home Based Business

A home based business is a vehicle for freedom. You can have more, do more and be more by being an online entrepreneur.

HOME BASED BUSINESS BENEFITS

1 – Tax write-offs.

Running a home based business affords you tax benefits. For tax advice consult a professional.

2 – No commute.

No commute. No traffic. No stress.

3 – Be your own boss.

Nobody to report to, except you. No office politics. No depending on someone else for your lot in life. I watched the movie “Company Men” last night. Great flick, which underscored the importance of running your own business. Your fate is in your own hands when you own.

4 – Travel the world.

Go where you want to go. Live where you want to live. If you have an internet connection you have an office.

5 – Connect with high energy folks.

You choose your co-workers. You choose your team-mates. You choose your mentors. You choose to associate with only high energy folks and can release all others.

6 – No limit to your salary.

You choose your salary. You can make as much as you want to make, if you are willing to persistently work a proven system. If you dream outlandish dreams, you can do outlandish, absurd things. You can make a stunning fortune.

7 – Create for others.

Creating for others is fulfilling. I derive great enjoyment from writing blog posts and articles, from writing training materials.

8 – Help others become free.

Helping others prosper is rewarding. It’s one thing to reach your goals but the feeling of helping others reach their goals is indescribable.

9 – Make personal development A1 in your life.

No set schedule to work around. You can make personal development a priority in your life. Many who struggle say they have no time for personal development, because they work long hours around a set schedule. Online entrepreneurs can make self help a priority, building their day around meditation, visualization, affirmation and study.

10 – Set your own schedule. No better way to live. Work early. Work late. Take the day off. Do what you want to do.

11 – Be free.

Want to be free? Who doesn’t? Running a home based business can be the most freeing decision you ever make.

Summary
The Pros And Cons Of Starting An Online Business From Home
Article Name
The Pros And Cons Of Starting An Online Business From Home
Description
Starting An Online Business can have many benefits, as well as a few serious concerns when deciding to work from home. Mostly, people use their computer for online businesses, and there is a lot to consider.
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Make Your Million

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