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Starting The Perfect Home Based Business

Posted on May 29, 2019 in Uncategorized

As the economy continues to tank, unemployment rises, essential commodity prices increase as salaries remain stale, it’s no surprise people are looking to make more money anywhere possible. While we should generate a supplemental income while our lives are financially sound, most people make the mistake of waiting until their finances are in disrepair and the bills are way behind before considering options.

At the point of desperation people choose counter-productive measures as a solution to their financial woes. These include taking out high interest personal loans, working a second or third job, selling their valuables, or being forced downsize their lifestyle. Can you see a benefit in any of these options? Do they bring you closer or distance you from your family?

If working second jobs, taking out high interest personal loans, or giving up the things cherished the most in life, aren’t options, what options exist? While most conventionally thinking people resort to the above solutions, many others choose to become successful entrepreneurs by starting some type of part-time business from home. Unfortunately, many people lack the necessary motivation and could care less about success for themselves or their families and that’s o.k. This clears the playing field for others who keep our options open to income opportunities.

While starting a part-time home business has many benefits, you probably wouldn’t even know where or how to begin. The possibilities are endless and this, in itself, can be overwhelming. Take a few deep breaths and relax because I’m going to share with you a simple business model that was specifically designed for people like you and me to be able to simply and efficiently generate a positive cash flow. This business model is called network-marketing (person-to-person) and has been adopted by many reputable companies and is the primary method to promote their products or services, instead of investing in expensive media advertisements. While companies save money on advertising, they are able to pay their representatives high commissions, bonuses, and incredible streams of residual incomes.

Network Marketing Vs.Traditional Home Business

The Network Marketing (Multi-Level Marketing) industry is over 50 years old and has created more millionaires out of average people than any other industry. An increasing number of people are choosing network marketing instead of traditional home businesses for many reasons; monthly residual income, multi-level payment structures, company bonuses/incentives, no stocking products, no invoicing, no shipping, no taking payments, no handling returns, no building websites, or even providing customer service. The network marketing company handles all of the main responsibilities. Your responsibility is simply recommending the product/service to others and showing others how to do the same thing.

Scams, Schemes, and Pyramids

Sadly there are many scams and schemes that empty the pockets of innocent people just looking for a way to make money fast. You can truly judge the validity of a business or opportunity by being aware of RED FLAGS. One obvious and very prevalent red flag is when the opportunity boasts that you can get rich overnight. An example of this is when they advertise that you can make a ludicrous amount of money in a day or a week.

The other type of scam that many desperate people fell into many years ago was the pyramid scheme. In a pyramid scheme, the only people who made money were the people at the top of the pyramid. People were literally passing their cash up the pyramid and the unfortunate people on the bottom lost their all their money. Pyramid Schemes are illegal and a common RED FLAG to look out for is if an opportunity has no product and requires a person to pay a lot of money to get involved.

Some people associate network marketing companies with pyramid schemes. While most network marketing companies are recognized by the BBB, they also offer every person the same opportunity for advancement. A representative can far surpass the success of the person who registered them. For example, I could sign someone up and they could have a much more successful business and make more money than me, which completely disproves pyramid scheme theories.

Monthly Residual Income

Why is residual income so incredibly important for you and your family? If I owned a traditional business, I would have to generate new sales and new profits every month to survive. In Network Marketing, I still have to make a sale, however I would continue to be paid every month for that ONE sale. Can you imagine making a sale once, getting paid, and then getting paid again and again from that one sale? Your monthly residual income will continue to climb every month as more business is generated.

Multi-Level Monthly Residual Income

Why is the multi-level marketing component crucial to the growth of the business? It’s unheard of to earn residual monthly income from every sale that you generate, however it is mind blowing to know you can earn money based on other people’s efforts after they join your business team.

When you register to become a home business owner with a network marketing company, you are provided with 2 general ways to create income.

  1. You are paid based on the sales that you generate
  2. (w/residual income from your sales)
  3. You have the Multi-Level option to show others how to start their own Home Based Business with company you are representing.(w/residual income from the sales you AND your representatives generate)

Starting a Traditional Business: Working Harder

Putting aside the overwhelming headaches of administration and production, let’s talk about just generating money from your own efforts. In a traditional home business, where you create your own product or service, you’ll need to go out and generate new sales every month. While business increases, so does your time spent on your business. You are now spending more time keeping up with the demand of your business than you do with your family. At that point you become a slave to your business while working 70 hours a week to keep up with production, administrative work, and client issues. Retiring is not even an option.

TRUE STORY

My friend, who owns a successful small business, said to me “It may look like I am successful, but I’m actually stuck. After all the bills are paid and it’s all said and done, I bring home less money than my wife makes in the corporate world and I work all the time. I can’t shut my phone off or miss an appointment because we are struggling to meet our bills. Our mortgage is too high, I can’t even think about retirement, and I don’t know what we would do if we lost one of our incomes.”

Starting a Network Marketing Business: Working Smarter

When you start a network marketing (part-time) home business, you simply become a representative of a product/service for a company. You don’t have to be concerned with anything but promoting the product/service. You are paid for every sale generated, plus you are paid a small residual commission every month as long as that customer continues to use the product/service.

While you are generating sales, you can also present the business opportunity to those customers who may also want to generate an extra income. When these people decide to sign on your team and become representatives, you can earn bonuses and residual pay based on their success. The income potential is limitless and while your business continues to expand you will continue to get a paycheck every month and eventually you can decide when to work or when to take a month off to go on vacation.

It’s really as simple as:

1. Using the product or service

2. Exposing others to the product/service

3. Showing them how to do the same thing

This industry continues to offer millions of people with many financial advantages including taking extra vacations, tax breaks, being able to afford private schools, paying for college, buying a new car, and even retiring early. The secret to success with any person starting a home business is just making a decision to do it. Don’t try it, do it. Many people fail because they are uncomfortable and unsure about how others will respond. If you don’t worry what other people think, if you make the effort, you are on your way to great success with your part-time home business.

Most people live paycheck to paycheck and can barely save enough money in their bank accounts to even pay for car or home repairs. Isn’t it true that whenever you’ve saved a nice little “nest egg” in the bank, expenses arises that put you back where you started last month? Wouldn’t it be nice to have money in your bank account, pay for miscellaneous repairs, take yourself and your family on a great vacation, AND still have money left over?

You can do it, and here’s how you can get started today in a profitable home business. Choose a network marketing company that; fits in your life, has a reputable product or service, a generous pay plan, and marketing tools that make it easy to duplicate your business! Most importantly don’t try to re-invent the wheel when it comes to promoting your new home business. Utilize the marketing materials offered by the company. Their online tools, offline tools, and methods are designed specifically to make building a home-based business very simple.

No More Selling?

50 years ago, people who embraced network marketing had no choice but to build their home business by physically meeting with people and selling the opportunity. This “warm market” sales approach is still very successful today, however not everyone is comfortable selling when they are first introduced to the business. What if there was a way to begin building a business without selling? The Internet has made this possible!

Reputable network marketing companies have embraced the power of the Internet by offering all their associates “customized” websites (usually for free) linked with a personal ID number. You would then use the website to sell for you. All you need to do is refer people to your website, let them watch the presentation, and FOLLOW UP with them. Always, always follow up with a prospect, especially when you refer them to your new website.

These websites are great tools, however that’s all they are. They are presentation tools for people who you know or meet. But how do you GENERATE customers or prospects for your home business? What if customers/prospects FOUND YOU? While placing ads on the Internet and in the newspaper are effective, they can be very expensive and will not reach larger markets. Another powerful alternative to marketing your business is on the Internet where you can reach tens of thousands of people searching for the exact product/service you are marketing.

Building A Long-Standing Residual Income

Being successful while establishing a large residual income, requires implementing a variety of marketing approaches. Don’t only depend on the Internet to bring you traffic. Be proactive! Talk to people, be excited about your part-time home business, share the products or service, and be consistent and persistent. If you don’t like selling, don’t! Don’t even talk about the details of your business. Let the website (the one the company designed for you) do the work for you!

If you are planning on developing an online presence, start getting involved and document your experience. You’ll generate tons of great content, including, but not limited to; case studies (how you started etc.), customer testimonials, objectives, personal experiences, training call recaps, webinar reviews, prospecting stories, company announcements etc. Journal and document every experience.

Start your business today! Don’t wait. Statistically speaking, people who wait, don’t succeed. If you have already decided on a part-time home business, pick up the phone or email a few people right now with your link to the free website the company gave you. If you just felt butterflies in your stomach, this is normal. It’s the fear of what people think about you that prevents you from taking this first step. However, it’s those who push beyond the nervousness who are the most successful. Are you going to let fear of what people think about you hold you back from attaining the financial goals of you and your family?

If you decide to start a home business, whether it is a multi-level marketing business or a conventional small home business, be active, be consistent, be persistent, and believe in yourself. Not only can it be financially rewarding, but you’ll go through many positive experiences which will help you develop professionally and personally.

Continuing Thoughts

Most people just let life slip away and wonder where the time went, thinking what they could have done differently? If you could change something now, what would you change? Would having more money help? If you have a desire to create new cash for you and your family, make a decision to do it.

Regardless of what you decide to do, I pray God richly blesses you and your family and you live your life with no regrets. Good Luck and God Bless!

Five Ingredients for the Best Home Based Business

Posted on May 27, 2019 in Uncategorized

The key aspect to starting the best home based business is to ensure that you are able to provide a product or service to a selected target audience, who want or need that product and service.

That audience have to be willing to buy it from you and there must be sufficient numbers of customers to buy the product or service. Also, and most obvious, you need to be able to make a profit or else you have no business.

The best home based business is one that is online. There has been a huge consumer shift over the past few years of people buying products and services online and this new digital economy is growing at a phenomenal rate.

The five fundamental ingredients that the best home business:

A Solid Business Plan

The best home based business model needs the perfect mixture of recurring income (when you sell something once and get paid every month, such as a membership website), affiliate income (when you sell items and get paid a commission) and high ticket income (products or services that you sell where you earn in excess of $1000 per sale).

A List Building Strategy

This is s system that allows you to build a list of customers who are interested in your product or service. You will need an autoreponder system and something of value that you can give away to encourage people to subscribe to your list (like a free report or DVD).

A Marketing Funnel

The best home based business marketing funnel follows on from you list building strategy. Once your prospects have subscribed to your list, the marketing funnel helps to build a relationship and trust so that your prospects make that all important first buying decision.

Paid and Free Traffic Sources

Customer traffic is the lifeblood to any home business and you must ensure that you have the appropriate skills to use both paid and free customer traffic that is relevant and will convert into customers.

Peer Group, Mentors and Mindset

If you want to build the best home based business you are going to need help. It is important that you invest in your home business education to learn from those that have gone before you. Learning from someone who’s already successful will make a big difference to your results.

The best home based business is one that does not have an expensive set up cost, has a huge audience of potential customers and allows you to offer specific and popular products without having to buy them first and hold them in stock. This form of home based business is called online affiliate marketing.

Online affiliate marketing is where you, as an affiliate, sell products and services and receive a commission when they are purchased. You do not need to buy the products first. You simply locate a vendor that has a popular product (and there are many of these) and sign-up as an affiliate for that product. This does not cost you anything. You then promote the product to your list of customers via email or online or offline advertising. When a person buys the product from you, the vendor will then pay you a commission. You do not have to worry about the product fulfilment or delivery, as the vendor will do this. Also, a good vendor with a good product will supply all the necessary training and marketing materials you will need to help you sell the product.

Many entrepreneurs want the best home based business as they have come to realise that relying on one salary from one job no longer provides fro a secure financial future with all current economic round of job cuts, pay freezes, fewer working hours and lower pay.

The internet offers the best home based business opportunities. To put this into some perspective, the holiday season online retail spending for 2012 was a 16-percent increase over 2011. This includes November 26 (aka Cyber Monday) which became the heaviest online spending day on record at $1.4 billion. Just having a small slice of this would good for any home based business!

How To Discover Your PERFECT Home Based Business – The 1st Of 7 Keys – A Profitable Business

Posted on May 25, 2019 in Uncategorized

This is the first in a series of seven articles that tell you how to sift through all the home business opportunities you hear about every day, and find the PERFECT home based business for you.

Are you ready to start making some real money in your own home business without working 60 hours per week? Are you ready to stop throwing your money down the “home business opportunity rat hole”?

Read on and I’ll show you how to test every home based business opportunity to make sure it fits the definition of The PERFECT Home Business, before you invest your time and money. Then, focus on the one that fits the best, and make it a success.

Each letter in the word “P.E.R.F.E.C.T.” stands for one of the 7 keys to finding the perfect home based business. Each key is something your home based business opportunity MUST have in order for you to enjoy the financial freedom and lifestyle you want.

What makes an opportunity P.E.R.F.E.C.T.? The “P” in PERFECT stands for “Profitable”. If your business isn’t profitable, why do it? If it isn’t highly profitable, you won’t be able to earn enough to make it worth your time, or you won’t be able to grow your business by reinvesting your profits back into the business.

“Profitable” means:

• High gross profit margin (preferably greater than 65%) and net profits of 20% of sales or better before taxes.

If you sell something for $1.00 and it costs you $.50, your gross profit margin is 50%. That’s about the profit margin most retail stores get. You need to do better than that to survive and thrive in your home business.

All of your other expenses such as advertising, overhead, and so on, have to come out of your gross profit before you have any “net profit”. If you sell something for $1.00 and the costs of your product, including all of your other expenses, add up to $.90, you only have ten cents per dollar in net profit (that’s a 10% net profit).

So, for example, if you want to earn $50,000 per year from home with a 10% net profit, you would have to sell $500,000 worth of your product. Wow, that’s a lot of product. Wouldn’t it be better to only have to sell $250,000 worth of product, or even less, to earn your $50,000 income goal?

That’s why you need a business with at least 20% net profit. And, if you really could sell $500,000 worth of products, wouldn’t it be better to have 20% net profit and earn $100,000 per year on that $500,000 in sales? The PERFECT home based business may even enable you to earn up to 40%-60% or more (sometimes more than 90%) in net profit. Yes, really.

At 90% net profit you would only have to sell $55,556 worth of product to earn your $50,000 income. That’s my kind of home business!

• “Profitable” also means a net profit (your “salary”) before taxes of at least $50,000 per year. And $100,000 or more per year would be more like it (unless your goal is to supplement your income to the tune of $500 to $1,000 per month. But, would you turn down $50,000 per year if you didn’t have to work any harder than you did to earn $10,000 per year?).

Your goals may be different than mine and you may be satisfied with lower profits. But, I believe you need to set your goals high, yet at a reasonable level. Then, even if you fall a little short, you will still be very successful.

• Low overhead (less than 5% of sales). Overhead is all the “fixed expenses” of running your business such as computers, printers, other equipment, furniture, office supplies, and office space rental costs.

A home based business is ideal for keeping overhead low, but you still have to be careful to minimize the space needed, the cost for utilities, and the equipment needed to run your business. Don’t go hog wild buying an expensive desk and file cabinets with your first profits. Instead, reinvest those profits in your business and keep your overhead low. You’ll be glad you did.

• Low labor content for manufacturing, assembly, or shipment of the product(s).

You don’t want to spend all of your time assembling and shipping something you sell. Most of your time should be spent on marketing and growing your sales and profits. The PERFECT home business enables you to sell products that involve little or no labor cost to make them or ship them.

• A high average order. Believe it or not, it takes as much effort to sell a $5.00 product as it does to sell a $50.00 product or a $500.00 product, maybe even more effort. So, the PERFECT home based business offers products with a high perceived value and a price well above $20.00. The exception is when you want to sell a low priced product, or even give something away, just to get customers added to your e-mail list so you can sell them other more expensive items later.

• Low initial investment required (less than $1,000 preferred). I don’t know about you, but business opportunities that require $5,000, or $25,000, or more to start scare me a little, unless the return is well worth the risk. There aren’t too many people that even have that kind of money to invest in a business. Why not find the PERFECT home based business that only requires $1,000 or less to get started, perhaps even a few hundred dollars?

• Small inventory with rapid turnover, or no inventory required. Imagine your garage or basement stacked from floor to ceiling with products waiting for someone to buy them. Yuk! Much better to fill each order as it is received without having any inventory in your home, or at least a very small inventory. The PERFECT home based business will allow you to do that.

• Repeat or backend sales potential. One of the highest marketing costs is the cost of getting a new customer. If that customer buys your product over and over from you (repeat sales of a consumable product or a monthly membership fee, for example), or if the new customer buys other products from you later (backend sales), you can dramatically increase your sales and profit. This is a very important ingredient in the recipe for a successful home based business.

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