How to Choose the Right Work at Home Business

How to choose the perfect work at home business for you
How to choose the right work at home business

How to Choose the Right Work at Home Business for You

Creating a work at home business is a great way to balance your family life with your need to earn money. But, you need to seriously sit down and figure out whether you want a product based business or a service based business.

Both product and service based business sell a product but in one case the product is tangible and in another, it’s a skill. In order to determine that let’s look at some differences between a product based business and a services based business.

Product Based Business

When you sell a product it’s usually a tangible item but with the advent of the Internet and digital products, the lines are being blurred. Today, you can offer digital products, courses, books, blogs, videos and information as your product as well as products you can touch like jewelry, art, and so forth. Don’t get tied up in thinking you must create the products. You can become an affiliate or reseller for the right products. To learn about affiliate companies that will easily accept you when starting out, read my post on affiliate network that will accept a newbie blogger.

Services Based Business

When you deal in services the client puts their faith in you and perhaps your staff to perform the services they hired you to do, depending on your skills and experience. These are things like bookkeeping, architecture, legal services; virtual assistance, graphic design and coaching services are all service based business.

You can combine both a service based business model with a product based business model on the Internet and have the best of all worlds. For example, you can promote a book and a course as a life coach offering your coaching services as your higher priced product over the books and courses.

In order to determine what services and/or products you want to promote in your work at home business take the time to do your due diligence.

-Make a List of Your Skills – It’s important to do an inventory of your skills. The first thing you need to do is to write down a list of what you already know how to do. Do you have computer skills, people skills, and knowledge that you can share with or teach others?

-Determine Who You Want to Work With – Do you love a certain group of people and what they do or what they stand for? For example, perhaps you are currently a paralegal at a law firm and you enjoy working with attorneys and helping clients who are dealing with divorce. You can still do that with your own work at home business. It’s important to identify the exact audience you want to work with whether you’re going to promote products, a service or both.

-Make a List of Things You Can Do for Your Audience – Once you have your skillset and audience determined now you can start figuring out how to solve their problems. Identify their pain points of the audience you chose, narrow it down to two or three pain points and then figure out how you can serve them.

-Match Your Skillset with the Services – A key in choosing products, creating products, and offering services is to match your skill set with what is needed to solve the pain points of your audience. When you take the time to do this you’ll find that your work at home business is going to be more successful.

Finally, once you’ve chosen your audience, and your niche within that audience and whether or not you’ll have a product or service based business (or both) you’ll have some other things to work out too. Ask yourself the following questions.

For more on choosing the right niche, get my Free e-book

How Much Startup Cash Do You Have?

The type of business you choose will be affected a lot by how much cash you have to get started. Service based businesses are a lot less expensive to start, depending on your skill set.

Digital products don’t cost much more to develop either, again depending on your own skills and whether or not you’ll need to outsource some of the work such as website design or product creation.

You can start a work at home business for relatively little money compared to a bricks and mortar business. You don’t have the high rent, utilities and so forth to pay for like a bricks and mortar business. Therefore, your startup costs can be a lot lower, but you still have startup costs.

-Business License Fees – You need to get a business license in most states and counties in the USA to run a business from your home. Usually, the cost is very low, so don’t allow yourself to be afraid of finding out the costs and rules in your area.

-Technology Costs – You may already own a computer and the technology that you need, but you may need to invest in some extra software too. Today you can “rent” software on a monthly basis which makes it a 100 percent write off like other direct expenses. For example, it costs $9.99 a month to rent bookkeeping software through Go Daddy. That is a cost you can write off as an expense.

-Contractor Fees – You may need to hire help such as marketing professionals, virtual assistants, web designers and others to help you get started and maintain your business.

But, there are also deductions you can count on when running a business from your home. If you can set up an exclusive area of your home to be the home office you can get quite a large home office deduction that makes everything even less expensive when starting a home business because these expenses you can deduct won’t go up, such as utilities, electricity, internet and so forth.

Another way of determining how much it will cost you to start up is by writing a one-page business plan. You can read how to go about that in my post: you don’t need a 100-page business plan to start one. In that post, you get a free template you can use to write your plan down.

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Do You Like Being Upfront or Behind the Scenes?

Some people love the idea of their work at home business being all about them. They name their business with their own name, they are the business. This is common with life coaches, public speakers, and even doctors. They are the expert and the name behind their business. Others prefer to be more behind the scenes and not be a household name.

There is no right or wrong answer when it comes to this. What matters is that you are happy with your choice. Don’t try to push yourself into a position that you don’t like because it will make it hard for you to want to work your business each day. Be honest with your assessments about your tolerance for publicity.

Do not think that if you’re an introvert you can’t create an amazing home based business, you can. The Internet is the perfect place for that. Some very famous introverts are J.K. Rowlings, Bill Gates and Warren Buffett. While they didn’t directly start an “internet based” business they all started at home.

How Much Time Do You Have to Devote?

Another important factor is the time it takes to do a business. A service based business essentially trades hours for dollars so you’ll need to have enough hours at a high enough rate to make the money you want to earn. With a product based business, you may be able to earn more without considering the hours as much.

However, with a service based business, you can earn money faster which is why combining a product based business with a service based business is a good option for many who need to start earning faster. For example, you can start with a book, and then offer a service described in the book. This works great with life coaches.

Answering these questions will help you identify what you can realistically do as a work at home business.  Once you identify the niche, your resources, and narrow down what you’ll do to earn money in your work at home business.

In addition to these questions, it’s important to understand what goes into the business you want to start and that you have the skills necessary to do it.

Do Your Due Diligence

It’s important to check your facts before you get your heart set on any one business. Once you’ve matched your skills with your audience and identified their pain points now you need to dig in and do some more research.

-How Many People are In Your Target Audience? – This is an important question to answer because if there aren’t enough people in your niche to be profitable then you may need to choose a different audience. If you need to earn 100K a year, you need to know how many people you need to sell to.

-What Price Point Can Your Audience Afford? – In addition to how many people are in your target audience, you need to know how much they can afford to pay for your potential products and / or services. What is your offering worth to them and can they afford to buy them?

-Can You Earn the Profit You Need? – Based on the numbers can you become profitable? This is such a huge issue when starting any business. You have to perform an analysis, called a S.W.O.T. analysis, which stands for strengths, weaknesses, opportunities, and threats.

Don’t leave a stone unturned in your research to choose the right work at home business. You need to know the good and the bad of each choice that you make before you even get started with your work at home business. While doing your research, consider making use of my Resource library.

Other Things to Consider When Starting a Work At Home Business

There are so many things to consider when choosing a Work At Home business to start. Because you don’t just want to start, you also want to earn a living at it. Outside of the logical things to consider mentioned above there are some emotional factors to think about.

-Do You Feel Passionate About Your Niche? – When you have your own business you have to be willing to live it and breathe it. If you don’t like it, and don’t have a true love for doing it, whatever it is, you will not be happy doing it and you’ll likely not devote the time and effort needed to make it successful. Ensure that your choices come down to something you feel strongly about enough that you can envision yourself doing it every day 40 or more hours a week, happily.

-Does It Match Your Value System? – You may not realize that you even have a value system. But, when you start thinking about the type of people you’ll work closely with in the new business, and their values and moral code, you’ll soon realize that it does make a huge difference. For example, let’s say you want to start a paralegal business from home. Do you want to work with lawyers who defend criminals or who help people through a divorce? If either of these ideas goes against your value system you won’t feel good about it.

-Is it Viable Long-term? – A huge issue with any business is determining whether or not it’s a short lived fad, or a trend, or whether it can hold up long term. There’s nothing wrong with cashing in on a trend, but you want your main business to stand the test of time and last for the next ten or twenty years.

-What’s Your Exit Strategy? – When you work for someone else, you have an exit strategy built in. You pay into social security and usually a company retirement plan and that’s how you live when you stop working. But, when you have your own business while you do pay into and can collect social security, you’re 100 percent responsible for the payments and setting up your own retirement plan. If you create your work at home business right, you can actually sell it for retirement. It’s a real, viable business and you should think of it that way.

Developing a profitable home based business takes just as much work to start as a bricks and mortar business. You still have to do the work by the numbers, and meet the requirements of the law. Plus you want to actually like what you’re doing in the end. After all, it feels good to go to work if you like it, right?

Otherwise, it’s just going to feel like another job that causes stress in your life and makes you want to run away. If you do the work necessary to choose the right business for you, you’ll love it, feel motivated every single day, and end up happier in the end. You’ll have true time and money freedom with the right work at home business.

To learn how you can make money from your work at home business, subscribe for my Free 5 days training on how to make money from your WordPress Blog

Be Honest About What It Takes

When you start any business it’s important, to be honest with yourself about what it takes to get things done. Keep track of the time, money and resources that you use so that you can project your future needs. Keeping the books balanced will help you keep your business on track.

-Time Freedom – Knowing how much time you’ll really need to spend on your business is important. If you only have 2 hours a day to spend, you’ll need to ensure that you pick the right business to be in.

-Money Freedom – Keeping track with a bookkeeping system is important because if you don’t have money to pay your taxes and expenses you’ll go out of business.

-Personal Freedom – One of the best things about a work at home business is that you can adjust the time you spend on your business so that it works better with your life. However, sometimes you have to put the business first. If you always choose family and friends over your business, your business will fail.

By understanding the myths about working at home, you know – the sitting on the beach with your feet in the sand while your business magically generates millions of dollars is a fantasy.  Now you can set up a more realistic business model that will be successful for you.

Marketing Matters

No matter what type of business you choose to run from home, don’t be shy about it. Once you make the decision, be proud of it. Tell everyone you know about your new business. Teach other people about your working hours so that they respect your time, project the type of professional image that you want people to see you as, and don’t hide. For doubters, show them the money.

-Website – Home based businesses even more than bricks and mortar business need a website. That is your storefront. You need to create an awesome storefront to market your business.

-Business Cards – Make some business cards to help you get the word out in person and locally. You can put business cards on tables, bulletin boards and in the hands of people you meet every day.

-Networking – Don’t forget that you can network online too with social media groups and forums. You don’t have to walk up to someone in person; you can instead engage people online to network.

Running your WAH business can be very satisfying if you go into it with your eyes wide open. Determine the best business for you based on facts, not myths. Craft a plan of action to get your business up and running and be proud that you’re a WAH business. After all, if you plan it right, you’ll have the business of your dreams plus the time to enjoy your life.

If you desire to learn more about different work at home business ideas why not read my post on 5 posts that teach you how to make money online

If you loved this post, please share with your friends and leave a comment below.

How to Pay yourself as a stay at home mom

 

How to pay yourself as a stay at home mom

There is a constant debate as to how much a stay at home mom should be paid for the work they do. while some feel it’s a personal choice to get off the career ladder and go take care of the home hence the government should not be burdened by whether they get paid or not. Others feel that the work that they do is a great job so they should be compensated adequately.

Whichever side of the jury you belong to, here is one truth which every one of us must agree to, when a child is well raised, it’s a benefit not only to the parents that raised him but to the whole society. The society is made up of families because every child comes from a family, so when we put our families first, we ensure that the next generation of children grows up to become responsible adults who are able to contribute to their society. This is not to say that when you are not staying home to raise your children they will not turn out well. What we are saying is that if you choose to make that decision to stay home and raise your kids, your career shouldn’t have to suffer because of your choice.

 

There is one thing I have always believed in, that is the fact that you can make your own way if the circumstances don’t allow you to do what you need to do. Having a career fulfills a part of you that nothing else could possibly do because it helps you take control of your own destiny. When you are  a stay at home mom, there are so many things you have got to battle with, from finances to self-confidence and sometimes a feeling that perhaps you did not even make the right choice by giving up your career.



What you need to realize is that even though you have made that sacrifice to stay home, you don’t have to throw away your earning ability. Technology has made it easy to be able to earn an income from home. This is the reason I am writing this piece today to encourage stay at home moms to stand up and launch a business that can sustain you from home. The business will support your lifestyle and give you the ability to live the life you want without feeling like you have lost a lot by leaving your Job to stay home.

Your children will be much more thankful if you can prove that you could stay home to take care of their needs and still provide for them. You are not scrimping and saving just to make it through every month.

I believe that this generation is calling for what Mary Kay Ash did when the corporate world would not allow her rise because she is a woman, she went out and found her own company. Today we see the results of what she did, she inspired a whole generation of women to do something about their own situation.



If you are like most stay at home moms, perhaps you may be confused as to where to start from. How do you start a business online when you are not tech savvy and you have never run a business too, here is my Free Ebook, it will give the needed information to ramp up and start immediately.

If you are confused about choices to make then you need to read my post about business you can do from home to make up to 6 figures, get it Here.

Do you have a life experience you want to share with others, here is how you can monetize that experience and make a ton of money out it. Read my Post How to turn your Life experience into a money Printing online business.

If you already have a business idea but don’t know how to market it to your audience or how to turn it into a real business, then you need to read this post about 7 helpful tips for the home business owner.

So while the Jury is still out on whether you should get paid or not for the Job of raising your kids, you can choose to start a home Business. If you want to know how I did it, then read this story on how I ran my training solutions company from home

 

Here is a list of Home business ideas you can start from home as a stay at home mom.

    • Online Marketing Consultant – If you love helping others promote their business on social media and other online avenues then an online marketing consultant might be something you’d like to do. With the popularity of Facebook and other social sites businesses need a lot of help doing everything from posting memes to helping them develop better profiles.
    • Webinar Expert – Many types of business owners have regular webinars to promote their products and services. They need people who know how to use the platform they choose, how to set up sign up pages, and how to troubleshoot the technology.
    • Online Business Manager –Just like a bricks and mortar business needs a manager, any business online that expects to grow needs a manager too. You can specialize with different niches such as managing a coaching business, an affiliate business or even an online business that sells physical products.
    • Life / Business Coach – If you have a gift for helping people and the expertise to do it you can become a life or business coach. There are coaches that help people start businesses, lose weight, parent better and more.
    • Affiliate Marketing – With affiliate marketing you usually combine blogging or vlogging with promoting other people’s products. You’ll get a special link that you set up to send people to the product and you’ll get a percentage of each sale that you make. Here is a Link to an affiliate marketing site that pays well AWIN:    

  • Online Teacher / Tutor – Today, there are many ways that you can teach people online. You no longer have to be in the same room. You can use live streaming technology to meet with students live or you can set up courses using a platform like Udemy.com for almost any type of subject from learning to be happy to algebra.

Starting an online business simply requires knowledge of using the technology available, knowing who you want to work with, what your skills are and finding a way to match those qualities together to create an amazing online business.

When you work from home, most of the time you don’t have to get child care or buy nice clothing, or even have transportation. You can schedule your work around your children’s schedules and create a very balanced life while earning a full time living.

5 easy steps to Running a Drop shipping Business

5 easy steps to Drop shipping Business
Ultimate Guide to starting a Drop shipping business

Drop shipping.

Drop-shipping is a form of business that allows you to list products that you don’t have but know where to find, you are kind of like the middleman who knows how to source for products and knows how to deliver it to the person who needs it, while you make a nice profit after your cost of sales.

In the product industry you have the following as the supply chain from: Product manufacture———–Wholesaler ————-Retailer ——–Consumer

Drop-shipping does not appear here because it’s a service, not a role, a drop-shipper can also be the manufacturer of a product, meaning that when you manufacture your own products and sell to the final consumer you are also drop shipping for your own products. A drop shipping merchant is that person that acts as a go-between, between the Manufacturer or Wholesaler and the final consumer.

A drop-shipping merchant, in this case, is responsible for finding the products, listing it on his site and selling to the final consumer. The manufacturer or wholesaler then ships it to the person who bought it.

HOW DROP SHIPPING WORKS

  • Mr. Bon wants to purchase a new battery for his phone, he goes to Mr. Dav’s Ecommerce shop and places an order and makes a payment.
  • Mr. Dav receives the order and payment and then, in turn, places an order with his suppliers which could either be the manufacturer or a wholesaler.
  • When the supplier receives the order, he processes and fulfills and ships to the buyer. He then gives a tracking number to the Drop shipping Merchant who owns the eCommerce store
  • The Drop-shipping merchant then informs the buyer that his order is on the way.
  • When the buyer receives the goods, it’s only the logo of the drop shipping merchant he is aware of, the manufacturers or wholesaler, in this case, is invisible to him.



  Continue reading “5 easy steps to Running a Drop shipping Business”

Be your Own Boss, Start a Home Business.

Work at Home Mom

Start A Home Business Today

Are you a mom that seeks to work from home? you agonize over leaving your little ones when going to work, or you wish you could be there for them  as you see the years go by and you know they will soon leave home. You want to be there for the things that matter to them, then it’s time to make that decision of starting a Home Business.

At some point or another, you may have considered starting your own home business. Who among us wouldn’t love to be their own boss, set their own hours, and work out of the comfort of their own home? The next question is

How Lucrative is working from Home?

Working from home as a mother can be very lucrative. There are many advantages to starting a home based business. Maybe you’ve thought of some of them already. You may already realize all the different ways you can experience freedom as a work at home mom (WAHM). Here are reasons why you should take that leap.

Advantages of starting a Home Business.

  • Time Freedom – You  make your own hours when you work for yourself. Even if you choose a work at home job you are usually able to set your schedule around your family’s schedule.
  • Place Freedom –You get to work where you want to. Whether it’s in the yard, your home office or at the kitchen table (or your client’s location) you only have to do the work you love.
  • Stress Freedom – You can eliminate a lot of stress when you have more balance in your life. If you choose a work from home business model that works best for your family you won’t be as stressed as when you’re trying to work around other people’s schedules.
  • Money Freedom – When you work for yourself under your own terms you can literally earn unlimited amounts of money. Many work at home moms earn six figures and even more than that. Pick the right path and you can be there too.

Before you decide to set out, here are some points you should put into consideration.

A) Explore the business type that appeals to you: Explore the type of business which would appeals to you most. Assess your goals, interests, and capabilities. The most important aspect is that you must enjoy what you are doing day in and day out. Successful entrepreneurs are the ones who feel passionate about the business they own. An entrepreneur cannot feel passionate and driven to success if they do not enjoy what they do.

B) Have a Marketing Strategy: No matter what type of home business you start, you must have a marketing plan ready to put into action. Almost every business today requires a relationship with the internet, and there are many marketing packages available on the internet as well as through local and national media. A successful business is never without a successful marketing strategy. Here are some tips to marketing your business.

Tips to Marketing your Home Business

  • Have a Website: For any type of business these day’s, a web presence is a must, how else will people know where to get your products easily. It may be a simple blog where you showcase your products and services. You can’t miss it by doing so. If you must have a blog then consider hosting with Jvzoo host, they charge you little for hosting per month and do not require you to pay yearly subscription upfront. Here is there link: Sign up now for hosting!
  • Build an Email List: Write your way to a home based business. If you enjoy writing, and have plenty to say concerning your product consider building an email list where you communicate with your customers daily. As you consistently communicate with them through writing you build loyalty and trust which culminates into repeated purchase.
  • Your Signature Line: Take advantage of the signature line in your email program and make sure it includes the link to your website. This simple act can generate numerous sales. All email correspondence with customers, should include this link so that they can easily find their way back to your website to purchase more product.
  • Friends and Family First: Just starting your home business?, make contact with your friends and family to let them know what you are doing. Word of mouth can be very powerful, so simply letting them know of your plans is helpful. Consider offering them a discount on your product to get them motivated to purchase something.
  • Join an online Forum of your Business:  Gather information on running a home business by joining an online forum on the topic. This way, you can connect with other home business owners and converse about your situations. Many people who work from home will have the same issues and problems as you, so you can share solutions.
  • Free Samples: Promote your home business by offering a coupon for a free sample or a discount for your services. People are attracted to free offers, so this is a good way to bring in new customers. People are more willing to try a new business if they do not have to risk their own money to try it.
  • Social Media is a Must: Utilize social networking to the best of your abilities especially for a home based business where you hardly have time to go out and market your products. If you aren’t using social networking within your home business, you are losing out on a great communication method that is used by countless businesses today to gain customers. Social networking improves your communication, visibility, and even your reputation within the target group you have chosen.

With these few tips, you already have the information you need to start that home based business, so go ahead, Take action.

Thanks.