Thursday, May 17, 2007

5 keys to making a successful home based business

Would you believe there are thousands of people who have found ways to make money online with home based businesses? Not only that, but their incomes are growing, due to little competition and low cost of entry. If I can do it, then there is no reason why you can't.

There are many, opportunities online, but here are 5 factors you need to consider, to make a successful home based business:

1. The best home based business idea is one for which you feel the most comfortable with and are passionate about. The business idea must match your interests, so that you will enjoy working on it consistently. What are your interests? What products or services would you enjoy marketing, and be confident representing? By answering these questions, you will be able to identify what is the best home business idea for you. If you are passionate about your online business and the products or services you represent, then you will easily work hard at it, and you will easily succeed. some things to consider:

A. Do you enjoy writing?
B. Do you enjoy talking to people?
C. Do you enjoy working on the computer?
D. Do you have a flair for sales?
E. Are there particular things that you are passionate about e.g sports, music?
F. Do you want to be contactable 24x7?
G. Do you want to have flexible/fixed hours?

2. Set your goals.
As with any business you need to set goals. Goals help you get to where you want to go, and keep you motivated when you get up in the morning. Your goal may be to earn $200 or $20000 a month, it may be to take dream vacations, or give up your job. These are all fantastic goals. It is very important that you write them down and read them often. You need short term goals - monthly goals, to keep you motivated from day to day and a longer term goal 1-2 years - to keep you on track and keep you from quitting. I am sure that if you have a positive attitude and stay on top of your goals then you will soon have a successful home based business.

3. Take time to research.
There are thousands of different businesses that you can try. The internet is a encylapedia of information and “home based busuiness” opportunities are not hard to find. However you will need to determine the genuine opportunities from the trash opportunities. Here are some do's and don'ts

A. DON'T fall for the “get rich quick schemes” that promise huge returns in record time. A successful home based business takes time.
B. DO try and email or telephone for more information. the more information you can get, the better off you are.
C. DO search online for feedback on the business opportunity.
D. DON'T part with money without consulting someone you trust.

4. Do not take a negative attitude
While it is a good idea to avoid the sales pitch that promises the sun, moon, and stars; it is also important that you don't have Negative thoughts such as "I could never be successful in that" or "that is impossible" or "it's too good to be true are self defeating and prevent a person from living an abundant, fulfilled life.

5. multiple streams of income!
The best home business idea is one which gives you multiple streams of income. Some business opportunities have multiple stream of income which allows you to earn money from various streams. An example of a good online business can be a combination of several affiliate programs which are in one ‘business opportunity package’, so that by simply promoting your business, you are growing various income streams.

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