The most profitable way to make money from home is through the internet. The internet has opened opportunities for people from all walks of life and you don’t have to be a technical expert to join the online business world. Everyday people are buying and selling online all the time. Here are the top 3 ways to make money from home using the power of the internet.
1. Produce Your Own Information Product.
An information product, generally available as an eBook, report or video course, is something that a customer can download instantly to their computer. An information product is a great way to make money from home online because once it is produced, you can sell it again and again.
People who want the best information on a particular topic are willing to pay for it. They don’t want to spend a long time searching online trying to find it for free, when they can buy it instantaneously.
You don’t have to be an expert to create an information product provided that you know more about the subject matter than your target audience. You can even out source it for somebody to produce it for you and then put your name on it.
2. Sell Other Peoples’ Products.
You can sell a product that somebody else has already created. When someone purchases it from you, the product owner will pay you a commission. This business model is called affiliate marketing and is often the first method that people use when they want to make money from home.
There are products and services that you can sell in just about every industry and topic that you can think about. You don’t have to get involved with product development, payment programs, shipping or delivery as this is all done by the product owner.
Your job is to choose the best product for your audience and get prospective customers to visit the product’s sales page where they can purchase it.
3. Use Your Existing Skills.
If you have expertise in an area that other people are willing to pay for you can use it to make money from home. This expertise can vary from creating graphics, language translation, internet design, marketing, sales, clerical, bookkeeping or financial services.
In fact, anything that you would get paid to do in a conventional job. You don’t even need to build your own website as you can sign-up with freelance websites like Elance and oDesk who have thousands of customers looking for people with your skills.
The Reality Of Working From Home
If you’re anything like me, you relish the idea of making a living working from home. Advertisements for “online jobs work from home”, “working from home ideas”, “working home opportunities” and other working online home ads are aplenty.
Can you make any money?
The short answer is yes. The more accurate answer is, unless you have some dynamic and innovative idea or product that simply shocks the world that will change everyone’s life or that everyone must have right now, you’re in for a long and winding road.
It’s not to say it can’t be done. It’s not to say it can’t be made simple or easy. It is to say, there’s more to it than meets the eye. The better questions to ask is, what does it take to make enough money to live on, how long will it take, and are you willing to do what it takes?
Perhaps it’s not necessary to make enough money to live on. Maybe you just want to supplement your income. Either way, it’s important to under stand that there are a lot of people already doing it. Many of them know what they’re doing. Many of them don’t.
There are right ways. There are wrong ways. Maybe there’s your way. Whatever your plan is, you need to either stand way out and grab a lot of people’s attention quickly or you’re going to have to go through some trials and tribulations. You will probably have to devote a considerable amount of time. Practice makes perfect, or as close to perfect as you’ll get.
Some people, when they’re at home just want to relax. They just never seem to be able to get in the mood to work unless they get dressed and go somewhere. Others wake up and work. It doesn’t matter where they are. It’s easy for them to get started. The operative word is work.
Whether you do the work yourself or hire someone to do it for you, it’s work and it must be done. Otherwise nothing happens. It helps to have a schedule and a plan and that you stick to it. If not, it is much more difficult to be productive.
Another question that’s important to ask is why you want to do whatever it is you want to do. If you’re simply doing it for the money, especially if you don’t like the work, you’ll probably get frustrated and/or burn out quickly.
In my case it’s been a life-long dream. I love to write and I fell in love with the process. I have a story to tell and feel qualified to speak as an expert, or at least intelligently, about a few different subjects (food, fitness, and life insurance products).
The fact that the money is not an immediate result is what kept me from doing it sooner. For me, it was simply time to do what I always wanted to do. I’d be lying if I said it’s been easy.
21 Key Questions To Ask Before Starting A Home-Based Business – They Do Need Answering
Before starting any home based business it’s imperative to ask yourself a few key questions. The questions have to do with three main areas of business – the business type itself, the products themselves and the services offered.
For this article, the home-based business will focus on eco-friendly health and wellness products although most of the questions will equally apply to any product sector. In terms of the business itself, you may have already decided, after researching the vast amount of data online about home based businesses, that this is what you really want.
Home-based businesses are viable but do require planning and work. In terms of the products themselves, you may have stumbled across or been told about some amazing new product or discovery or you may have been a user for many years.
In either case, you want to share all this ‘good news’ with as many others as possible. In terms of the services offered, you may be in a position to offer home-delivery, no-question, money-back guarantees or even be the money collector for the supplier.
Let’s look at the first area – the BUSINESS itself. Here are some must-ask questions.
Will I be able to…
Earn residual income as well as make the money up-front?
Be my own boss or CEO? Maybe this is important because you have always worked for someone else and have never been boss. Be careful here – being boss means doing ‘bosses’ kind of work.
Do the work from home? This may be the most important thing because of physical circumstances, transportation limitations and more.
Get sufficient business training when I need it?
Avoid direct selling because I am not a salesperson! That is, will I be using warm and/or cold marketing techniques?
Earn the income while genuinely helping others? This may or may not be important to you. Do you want to just provide products or do you genuinely want to help people improve their health, wellness, lifestyle or whatever by these products?
Will I have to…
Lay out a lot of ‘start up’ money? How much and when in the start-up process?
Carry inventory? Do I have space and do I want to keep boxes of product in my home?
Offer personal satisfaction guarantees? For example, will I be offering the return policy or will the manufacturer be offering the robust return policy?
Purchase the products for my customers and then have to deliver them’?
Be involved in the money exchange?
Now, let’s look at some PRODUCT questions.
Will the product(s) that I AM INVOLVED WITH…
Provide a healthier home, body, skin, nutrition etc
Be environmentally ‘friendly’?
Be safe to use for adults, children and even pets?
Use scientifically tested and verified ingredients?
Have a proven track record?
Lastly, I want to look at the area of SERVICES. If you are putting yourself out there as an expert and the CEO of your own, established and creditable business, you should ask yourself the following questions.
Will I or should I be OFFERING…
Membership Protection (if there is a continual membership required) such as auto re-ordering?
Door to door delivery?
Strong product support from the manufacturer or their representatives?
Strong team support if this is a type of business structure that involves up links and down-links?
It seems like a lot to think about, but I assure you that these are all important questions to ask no matter what business area you are contemplating. I have personally found in the eco-safe health and wellness products arena, that these are critical questions to ask yourself.
And, it is important that you be satisfied with the answers before heading into the world of home-based business. Slow down, take some time and ask these tough questions. You will be the better off for it.
Top 3 Mistakes To Avoid When You Start A Home Based Business
When you start a home based business it’s the start of a wonderful entrepreneurial journey. You can develop your own personal business by selling products or services that genuinely interest you.
But regardless if you work on it part-time or full time a home business is not a license to print money. Here are the 3 top mistakes to avoid when you start a home based business.
1. Not Embracing The Internet.
More and more people are turning to the internet first when they want to buy a product or service. When you start a home based business you have to be online if you want to reach the widest number of potential customers in the most cost effective way.
Setting up a home business on the internet is not as complicated as you may think. There are many easy to use pro grams and systems available that will help you to quickly get your business online.
2. Not Having A Solid Business Model.
You have to know what you are going to sell, who you are going to sell it to and how you will sell it to them. A solid business model will have a clearly identified target audience who are looking to purchase the products or services that you are selling.
Ideally, you need a good mix of income streams that provide residual income, direct sales and income from high ticket items. Keep in mind that every entrepreneur has faced challenges with their business at some stage or another. When you have a solid business plan, these setbacks will not deter you from reaching your objectives.
3. Not Building A List.
One of the most important tasks for any home based business owner is building and maintaining a list of prospective and actual customers. Your list will be made up of email addresses of people who have willingly given you their approval to send them emails about your products and services.
It’s not very likely that someone will give you their email address without getting something of value in return. Therefore, to help build your list, offer a free handy report, eBook or newsletter that you can send them when they sign up.
Once they are on your list don’t just send them sales messages all the time. Send emails with useful information that will help your subscribers. As they come to trust your opinions and value what you send them, they will be more inclined to buy from you.
Cash In On Your Experience
Sometimes the best way to self employment is by selling your brains. After all you sweated drops of blood to learn what you now take for granted right? And that’s why most people never consider the idea of selling their own skills as an advisor to others who maybe up and coming in their industry.
But do you have the talent and experience that people will buy?
Fair question – often we do but here’s an indicator of how others see it.
They ask you out to lunch (they buy you the lunch) and then spend the whole time telling you about a project and picking your brains
They write to you and leave a decision about some work related matter until they show you all the specs
You get asked for a “second opinion” often by your friends about their business
They write to you and ask very specific questions about their new deal
They boast to their friends that you’re the brains behind their new endeavor
Are consultants and MENTORS BETTER THAN COACHES?
Good question – usually on one key point – coaches almost never advise you on your business. Where as a mentor or consultant already knows and has in-depth knowledge about your business. Coaches often tend to gloss over how a business is run and have the same answers regard less of what line of work you’re doing.
But a mentor or consultant is more likely to be sympathetic to your needs and the quirks your business entails. As a direct result – a mentor or consultant will get more respect for the knowledge and a client will tend to listen much more closely to the advice given.
How DO I SELL MY EXPERIENCE?
I’ve found it can work one of two ways:
You sell your time by the hour
Or you sell a pre-packaged set of hours for a frequently asked problem
The second option is usually best for one reason; you get a bigger upfront payment to solve a client’s problem – often they don’t mind paying it. Never underestimate how long a consulting job will take.
The client maybe willing, but often is having trouble wrap ping their mind around all the challenges of their business. Their mind can only take in so much with all that stress going on.
You on the other hand need a fair payment that makes it worth showing up to the client. An hourly rate on its own is too open ended. A fixed package makes you feel like you are not being ripped off for your brains being picked. It also makes you look more professional.
For you answering a few questions and solving people’s problems might (at first) seem hardly like you’re working at all. BUT don’t fall for that. Every consultant or mentor goes through the same thing.
As the say; THINKING IS THE HARDEST WORK AROUND, that’s why so few do it. Firstly get yourself a business card, and fix up your Linked in profile to suit your consultant or mentor experience. A Linkedin profile is a must have these days.
And while you can, write a book – it doesn’t need to be a long book, even a book with all your personal industry yams makes a good positioning statement for your consultancy business. So write the darn thing!
Attend specialty networking functions especially if your industry is connected to industry association meetings on a regular basis. But most of all work your network and connections, you have tons of contacts and you can use those as a part of your email list to let people know you’re in business.