These days it is becoming increasingly difficult to make ends meet with just one source of income, thus more and more people are looking into the possibilities of starting their own business from home.
Most of these people are making the extra money they need, some have wisely and carefully built these extra income efforts into full time, very profitable businesses.
Others are just keeping busy, having fun and enjoying life as never before. The important thing is that they are doing something other than waiting for the government to give them a handout. They are improving their lot in life – and you can do it too.
Many people dream about working from home and making good money from their own efforts. However thousands of businesses fail each year due to primarily not being familiar with the basics involved in running a business. This article will enlighten you and give you a number of suggestions you can use to better guarantee your chances for success.
The First Steps…
The usual form for a person to start working from home is to start as a sole trader and then when they grow the business, they sometimes change to Limited company status – you should always seek advice from an accountant and a solicitor for your own personal circumstances.
With a little bit of observation you will find that one of the major causes of business failure is due to the founder wasting start up capital on unnecessary frills such as office furnishings and top of the range PC and peripherals, etc.
Most successful work from home professionals don’t have the very latest equipment. In fact some of the most successful work-from-home, information publishing business people have made lots of money using average PC’s, printers and the like.
Don’t forget when you work from home you can claim a percentage of your heating and lighting costs to the business – again your accountant will explain this in more detail.
Most people need or want more money coming in, so to start some sort of extra income producing project can be a godsend. The problem is not many people seem able to fit a second job into their time schedules.
It’s true that most people are busy but making more time can always be found by watching a bit less TV or cutting down on a few of your pastimes, like going to the pub, playing golf or football.
Remember you only get out what you put in and if you score big with your home business project, you will eventually have all the time you want for whatever you want to do.
You can work on your business even at weekends while you still have your regular job. You will soon learn if a market exists, beyond your friends and family, for your services or product. This way you will learn if being an entrepreneur is what you want to do before you cut the cord to your regular monthly salary.
Get started while you still have a job, that’s one of the most important pieces of advice that you should follow, for some though this is not an option.
As we mentioned before you may have to give up some of your time but it will be worth it in the long run.
So first sit down, get a pen and paper and list your daily schedule. Start with what time you get up, then step by step write down everything you do each day. Most people will find that they have a couple of hours each day that can be used to focus on a home business.
Any sort of progress boils down to planning what you are going to do and then doing it without backtracking. Make a list of the things you want to do tomorrow, each evening before you go to bed.
Schedule your trips to the shops or wherever to coincide with the other things you have to do and with your trips to and from work, so you are not making two journey’s when one will do.
Just take care of as many things as possible while you are out of the house.
Think about the time we spend just standing around eg. time on the phone, and eliminate all that isn’t necessary. Set aside a specific amount of time to do any chores you have to do at home but don’t over do it, you do need some rest too.
By writing tasks down and then ticking them off you will be amazed at your progress in finding the extra time to start your home business.
You Can Sell…
Most people are always striving to better themselves, for proof check the sales figures of the number of self improvement books sold each year, which is an indication of people’s awareness that in order to better themselves, they have to continue improving their personal abilities.
Believe it or not you can sell, you sell yourself every day to your partner, friends, your boss, etc.
To excel in any selling situation you must have confidence and confidence comes first and foremost from knowledge. You have to know what you want, and where you want to be in a set time frame, and the best way is by making goals.
You have to recognize your weaknesses and improve or get help with them by delegating those tasks. You have to recognize your strengths and build on them. This requires a kind of personal honesty that not everyone is capable of exercising.
A very important 1st step in any business is to find the market first then find a product to feed that hungry market, some people get the product and then find out that the isn’t a market for it and then they give up, don’t be one of them.
Listen and learn about other people, their likes and dislikes, their hobbies and what they want to know about – this could help you find your market. Basically by doing this you are finding a hungry market that you can sell to and that’s the best way to do business, all you have to do then is get a product and supply that hungry market you have just found. All the top successful people do this.
Work From Home Advertisements…
Moving on to Working From Home advertisements – the Internet is awash with these at present – there are many really worthwhile legitimate ads out there but as you’ve no doubt heard quite a few scams as well.
Things to look out for are the following:-
When an ad tells you “You can work just a few hours a week and still make a full time salary”- this can be misleading as the only time you can really do that is when your business is up and running and to get to this stage, you need to put the effort in first.
When you are asked to “call for more information” – this is fine but watch out as some ads use a premium rate phone line for this.
When an ad tells you “You could be earning loads of money right away without any effort” – again this is only realistically going to happen when you have put the work in yourself to begin with, only then can you start to delegate the work more.
When the ad is very vague and doesn’t tell you what the business is about – a genuine business opportunity should give you all the details up-front and sell itself to you before you part with any money.
When the ad is for an actual work from product and doesn’t offer you a 30-60 day 100% Money Back Guarantee if not satisfied.
Do What Works…
Another important piece of advice is that you should, if possible, follow and copy the Proven plans of people who are actually making a fantastic living working from home now, giving you more likelihood of succeeding.
The fields of mail order selling, Internet marketing and selling information products have never been more popular. If any of these kinds of extra income producing ideas appeal to you then you owe it to yourself to check them out. At least with these fields of choice you can start and operate from home with little investment and learn as you go.
There are people from all walks of life, in all parts of the world, many of them with no writing ability whatsoever who are making incredible profits with simple newsletters and Information products.
The demand for these products is increasing all the time, because more and more people are shopping online and one of the biggest things people search for on the Internet is Information products.
Put Money Back In…
When you start your home business, it is very important to reinvest any profits in the first six months to further promote your business.
Know Your Product…
Keep focussed, stay within your means and always check out competition to make your product or service different, unique to you. Don’t forget you can sometimes joint venture with your competition if your products are slightly different, thus you both benefit from more sales.
Knowing your product, giving a clearer description to your customers and closing more sales will take a lot less time once you know your own strengths and weaknesses and understand and care about your prospective customers.
Your product should always be good value for money, with a money back guarantee if the customer is not satisfied. Keep in mind that you will make more money from repeat orders if you have satisfied customers. If you tell enough people about your product you will find buyers.
Waking up in the morning and getting out of bed to do what needs to be done to build your business up requires a great deal of personal motivation, discipline and energy, which will come if you really want to succeed at your home business.
The rewards can be beyond your wildest dreams. Make no mistake about it working for themselves at home has made quite a few people very wealthy indeed, and just think if you put the time and effort in now you could be one of those wealthy people, with no worries about paying any bill ever.
The more success you want and the more dedicated you are to achieving your goals, the more money you will make. Hundreds of people the world over have become very wealthy just through selling from their home based business.
Many of them were flat broke and unable to find a regular job when they started but they have done it and you can do it too. Remember it can be the surest way to all the wealth you can ever want depending on your chosen field.
If you are ready to become wealthy then think seriously about selling some sort of proven product line preferably something exclusively yours, something that you write, manufacture or produce for the benefit of other people.
Learn from people who started where you are today and now enjoy their dream life, check out what they do and most importantly how they do it.
Take their proven plans and develop your own products, which with the right advice is easier than you think.
Article Source: http://EzineArticles.com/1208509