The title of this short article asks the question: Home Based Businesses, are they real? Well, a bit of a silly question you may think. Of course they’re real. But, with one caveat…if they work for you! What I mean by that is, there are an abundance of Home Based Businesses out there, some better than others, but the one critical criteria will always remain, will it work for me?Let’s take a step back before we move forward. Most of us are in the ‘Rat Race,’ right? We are destined to work for approximately 40 hours per week, for about 40 years of our lives and then retire on approximately 40% of what we used to earn if we are very fortunate. In reality, most of us will stumble through painful periods of our work life and almost certainly never attain that magic 40% income in retirement. So, the upshot is we work with someone else pulling our strings, dictating our time off, the holidays we take, the car we drive and ultimately the amount of money we can have when we retire. Remember, this is a version of a good scenario; it’s still a very real version of ‘The Rat Race.’Now, back to Home Based Businesses, are they real?Well, that is subjective. How much do you want to get away from ‘The Rat Race’ and how much are you willing to put up with it like the majority of your neighbours? Right there is the determining factor. That question on its own will separate the wheat from the chaff, the boys from the men, so to speak.You see, of course there are some scams out there in the big wide world of Home Based Businesses or Online Businesses BUT, almost without exception, for the real opportunities that are available to virtually everyone; it’s your level of desire, your ‘want,’ your determination, that will ultimately decide whether or not a Home Based Business is real.Do you get it? I mean it, do you really get it? Without wishing to labour the point, if anyone goes at ANY business half-heartedly, they will, without exception, fail. There is no grey area here, commit or don’t even bother getting started, is my strongest advice.The problem with Home Based Business you see is that most of us are actually conditioned to be satisfied, almost to the point of believing we are utterly secure, with ‘The Rat Race’ and today more than ever, nothing could be further from the truth, what an economic mess the world is in! Whilst we have this ‘warm feeling’ that ‘The Rat Race’ gives us, then almost any Home Based Business that an individual may start or get involved in will simply not work and therefore will be labelled as ‘not real.’They are of course very real in most cases, but until an individual takes a massive, and I mean massive, attitude adjustment and realise that Home Based Businesses won’t work whilst you’re still holding tightly onto the promise of a pitiful pension from ‘The Rat Race,’ then the internet and the TV watchdog programmes will be littered with reports that Home Based Businesses aren’t real or are some kind of scam. They’re wrong.
7 Questions To Answer Before You Fail In Your Home Based Business
There are tons of home based business ideas you can adopt, and choosing the right one may not be easy, however, knowing what to look for in a home based business will definitely make things much simpler.
The following is a set of 7 questions which you should be asking yourself to determine the type of home based business you truly desire and worth putting your focus and effort in.
1. How much startup capital am I willing to invest in my home based business?
Budgeting is very important, and you should always set aside an amount of cash flow for emergencies.
When determining the investment, it should be an amount you are comfortable with to start your home based business. It does not necessary mean that you have to invest the full amount, but rather as gauge to filter out high costing home based business ideas.
Since you will be working from home, you need not pay the high cost of rental for office space and depending on the business you are in, possibly no management of employees and salary required. Most of your investment will most likely go into purchase of raw materials, services and marketing.
There are other on-going variable costs you need keep track such as bills, purchase of raw materials and etc. And you should be splitting your household expenses and that for work related for tax purposes.
2. What is the Risk level of the home based business I’m comfortable with?
Home based businesses vary in risk levels, and you should determine the amount of risk you’re willing to take. Risk can be due to return on investment, product fulfillment, natural disaster and more…
Higher risk business not necessary will always give you a better return. There are home based businesses that are low cost and risk level but still make you tons of money.
3. Do I want to deal with physical or digital products?
Product fulfillment is very important in a business. It determines the customers’ trust on your home based business and how much you can be making. You have to be prepared for cases where the product failed to deliver, product damaged during delivery and refund request.
Thus, you have to decide whether you want to deal with physical products that needs to be delivered, or digital products that can be downloaded from the website directly after payment.
4. Do I want to target global or local customers?
Depending on the type of product or services you are providing, you can be targeting either local or global customers. Of course, this will also depend on how you handle payment and product fulfillment. Should you be leveraging on the Internet to target global customers, you need a website that accepts credit card payments. On top of that, you must be ready to handle larger orders.
5. Do I have the knowledge or experiences in this industry?
You need not be an expert, but at least some knowledge is preferred before you jump into an industry. Always do your research to find what is in demand before you waste all your money, time and effort.
Keep a lookout for partners or mentors who are more experience, whom you can leverage on to guide and assist you towards your success in your home based business.
6. How much time am I willing to spend on this home based business?
Time management is important, especially when you are your own boss. There are home based businesses that require a lot of your time, and those that requires lesser time but giving same result.
If having more time freedom is one of the reasons you want to start your home based business, then you should be looking at home based businesses where you can outsource most of the work and put it into automation.
7. Do I want to get paid once or many times per sale?
If you are dealing with membership or subscription types of businesses, then you would have a ready customer base that will purchase from you regularly from your one time marketing effort.
Alternatively, you could also be in a home based business that you market frequently and make money on every sale made.
Learn How You Can Start Your Own Home Based Business
If you are not personally effected by the current economic crisis, you are sure to know someone who is. In every town and on every street there are people currently struggling. You can learn how you can start your own home based business, right on the internet! If you search you can find the perfect online home based business opportunity, for you.There are many reasons why starting an online home based business is the solution to the current economic situation, here will will concentrate on some of the primary ones.
Good Business Practices: When you own your own home based business, you are in control of how it is conducted. There is no CEO pirating all the company income for their outrageous salaries, and golden parachutes. And there are no under the table or shady deals that you are unaware of.
Limited Start Up Expenses: Most home based businesses can be started on a limited budget, with a limited amount of time available to devote to it, and a limited amount of knowledge about it. In many home based business you can learn how to run your business as you work to develop it.
No Discrimination: When you have your own business, you will never be told your salary has been maxed out, or that there are no higher positions you can attain. If you are a minority (race, female, or elderly) it is never an issue when you work for yourself.
Greater Productivity: People are more productive when they work for themselves, and their income is directly proportional to the work they accomplish.
Corporate Security Myth: The days when working for a corporation ensured that you would have a decent retirement, adequate health care, or even steady work are long gone, if that ever really existed. Loyalty to and dependence on a corporation gets you nothing in return.
Today more than ever people are finding out that they have only themselves to rely on. They are discovering that the solution to their personal economic situation as well as the global economy are far more secure in the control of someone with a commitment to the growth of the business. Who has more commitment than the owner? No one! You should really seriously consider if an online home business solution, is what you have been searching for. Becoming a online home business owner can be very rewarding for the person who is serious about securing their future.