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    4 Replies Latest reply on Oct 28, 2009 3:12 PM by pgregersen2

    What kind of home based business can I do?

    TATATA Newbie
      I want to start business at home and I would like you to feel me with some idea that I can do. I trying to stay away from daycare and website design but anything other than that may work. I already have 40hour job but the income is not enough so I am trying to make money from home....
        • Re: What kind of home based business can I do?
          LUCKIEST Guide
          Home based business, Tell us more.

          Go to Members page and share some info.

          What is your background?? and a business plan would help
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          • Re: What kind of home based business can I do?
            Tracker
            There are many opportunities to make money from a home-based business. The trick is to avoid starting or buying a business opportunity that you are not well-suited for. If is it not the right one for you, or you not the right person for it ... then you will not succeed with it. As a first step I suggest reading the following article of mine and determine what type of business suits you best and then see if it can be applied as a home-based business.

             


            7 Steps To Find The Right Business For You (whether you plan to start or buy one)

            If you are reading this, chances are that you are looking to make a change. Perhaps you are looking for a business to start or to buy … something to create a better lifestyle, with more opportunity and more money for you.

            For many people it’s the money that drives them. But being passionate about making money can drive you to take on things or get into ventures with only the thought of the money driving your decision.

            Is the money important? Absolutely!

            Is how you make it important? Yes, if making your life more comfortable is also one of your goals!

            This factors in because if you started or bought a business that is capital intensive and/or heavily regulated and competitive you could find out that the business became the worst high-pressure job you ever had. You do want to choose an industry that is growing but any industry or market that is growing fast is probably also a highly competitive one (and may become increasingly so). Unless you have a lot of money behind you it is better to think tactically than strategically about entering such a market.

            The same can be said for starting or buying a business that you are unsuited for.

            If you are not a “people” person then you may not want to buy or start a business that calls for you to interact frequently with people. If you are not comfortable in a sales role then do not start or buy a business where your success is tied to your personal sales efforts. One thing to keep in mind here; as a business owner you are always going to have to perform some level of “salesmanship” for your business. So understand this going in so that you are prepared to accept that as part of owning your business.

            I tell clients and people that I talk with about starting or buying a business to be methodical in how they approach either one. Don’t jump ship, leave your job and pin all your hopes on something (the business you plan to start or business you buy) trusting that all will be well. Sometimes they aren’t.

            I’ve been successful in several businesses (from writing, publishing, manufacturing to business services) but have also had flops. That’s normal experience for someone who’s been an entrepreneur for 26 years. Often you learn more from your failures than you do the successes. Odd but true.

            Here’s how to learn from your "likes and dislikes" and those things that don’t work out for you and use them to find the right business for you:

            Step1

            Take the elements of the things you have tried in the past that you spent time and money in exploring as business opportunities but that did not work out (and do this also for your current job).

            Step 2

            On a sheet of paper draw a line down the middle of it. On the left at the top of the page write “Bad” and on the right top write “Good”.

            Step 3

            For each thing you have tried and regarding your current job, list out the bad and the good aspects of it; the bad will constitute the determinants of why it did not work out for you or why it did not make you happy or fill you with any passion. The good are the positive elements that helped offset the bad but did not carry enough weight to make it work for you.

            Step 4

            Once you have done that look at what you’ve written. Take a new sheet of paper and transfer all the good things to that page. This becomes a profile of the things that were positive that you need to look for in a business or opportunity that may present the most attractive and suitable scenario for you.

            Step 5

            Now with your “Good” profile in front of you, take the market or industry that interests you, think about how you can utilize those good aspects in a business of your own serving that specific market or industry. Make notes about the different businesses that you can start or buy that have those good aspects to them. Those should be your focus.

            Step 6

            Once you’ve done that calculate what I call your Personal Economic Burden (all your monthly personal expenses that you need to pay to live: mortgage, rent, insurance, food, utilities, car payments, etc.). Total that up and add 20% to it (10% for miscellaneous and at least 10% for savings). Take that total amount multiply by 12 and divide by 365. That is the daily amount your business must generate for you to be “comfortable”. We’ll call that the “Comfort Number”. That’s not making you rich but if you achieve it; it will give you a solid foundation to build on so that you can make even more money.

            Step 7

            When you have that daily number and with it in mind, review your notes from number 5 above and research to determine if you feel that business can generate what you need to meet your Comfort Number. If so, then that is a business you should focus on starting or in finding to buy.

            Take some time to think things through – never jump blindly or go off on a path that you’re not reasonably sure is going to lead you to where you want to go. The above steps will help you.

            Good luck and best fortune to you (and fortune favors the prepared)!

            There is also a YouTube video of this posted at my website on the page for this article.

            Dennis Lowery
            Adducent, Inc.
            • Re: What kind of home based business can I do?
              franklinb Adventurer
              While I was still a full time UPS driver, I started building my affiliate marketing business part time. I worked on my computer at night and on the weekend to do this. Affiliate Marketing is a really neat business for anyone in your shoes because the costs are very miminal.

              I retired after 30 years with the company, and now I work the business from home every day.

              Do you want to find a business that you can do with your computer? If so, then this might be right for you.

              My website is where many people have started. It is by no means the last word, but it is full of good information about affiliate marketing, affililiate programs and networks where both affiliates and merchants are placed under one umbrella. My url is http://www.bblmedia.com/

              Just visit and read through for information. after that, you can contact me by email and I will be happy to answer questions about how I make money in the business. Alternatively, you can read through this page where I try to describe it to some extent:

              http://bblmedia.com/make_money_online.html

              I only recommend a couple of good ebooks that I myself own, and that actually are valuable in the formation of a new affiliate marketing business. You will see these as you read, but keep in mind that all affiliate programs themselves are Free to join for Affiliate Publishers.

              Feel free to contact me after you have a look at my website.

              fbanker@bblmedia.com
              • Re: What kind of home based business can I do?
                pgregersen2 Newbie
                Hello TATATA,
                Looks like you have plenty of information and recommendations about starting a business. When I was looking ways to work from home, I wanted to find something that is recession proof. There are very few services and products that fall into this category. One of them is Utilities, another is Cellular. Did you know many states are deregulating energy services? It is happening today and it's a 540 billion dollar industry. Experts and telling us that it's going to be the largest distribution of wealth, ever.

                I found a company that will let you tap into this industry. You can get paid every time someone pays their Energy bill, month after month. Talk about recession proof. People are more likely to pay their Utility bill than their mortgage. You can get more info at this site: www.automatedleadsnow.com

                Best of luck to ya,
                Paul G.