In this day and age it is almost impossible to maintain a decent standard of living on one paycheck, and in a family where children are involved it is not always feasible for both dad and mom to have a job outside of the home. Plus daycare expenses, the need for a second car, and too much time away from the children are some common drawbacks. Which this, however, is the exact situation that a Home Based Business works to its greatest advantage.
In many cases the Home Based Business model can be very profitable. But without the essential knowledge and proper tools, a person can waste an incredible amount of time and/or money trying to make it work. Which will defeat the purpose of why someone started their Home Based Business venture to begin with—namely to make money and have the time to do the things they want to do….So as a result, I wrote this post for the purpose of giving the average person, like you and I, a practical guideline to getting started in a Home Based Business the right way. And to save you some wasted time and money….
Over the years of working to start my own Home Based Business, my experience has shown me that there are basically 3 main pillars, or principles, of a solid Home Based Business.
Pillar #1: It must have minimal start up cost.
Any Home Based Business where you have a high start up cost will naturally take longer to see a profit from it. And as we said earlier, time is one of the things we are trying to bring down to a minimum as much as possible. Which minimal cost will also serve to make the Home Based Business more accessible to a larger amount of families, or individuals who are just getting started.
Pillar #2: It must be easy to set up and maintain.
The more complicated your Home Based Business project, no matter what it is, the more likely you are to give up out of sheer frustration before you see a profit. A business that is easy to set up and maintain, on the other hand, will give you confidence and a sense of accomplishment as you complete each simple step in the process.
Let’s face it. If you enjoyed wasting a lot of time and effort maintaining a Home Based Business—you would not be reading this article. This is about freeing you to spend time with your family and doing the things you love, not creating another taskmaster to replace your current job!
Now. The first two pillars above of a solid Home Based Business are necessary for the third to occur.
Pillar #3: It must have a quick return on investment, or ROI
You can spend months building a Home Based Business, but if there is never any real profit generated in a reasonable amount of time many people may get discouraged and give up. What is a reasonable amount of time? I would plan for a time frame on the order of weeks instead of months. Depending on the type of Home Based Business some people have had a decent ROI within days, and unbelievable as it may sound some businesses that deal with affiliate marketing and sales can see profit as early as 15 minutes from start up!—but you also need a good or right audience for it to happen.
Now you may be thinking to yourself, “That’s too simple!” So just let me say that within the 3 pillars there is plenty of detail to keep anyone busy.
Now then, the business that you choose to start should definitely be something that interests you, and possibly even something that you already have a measure of experience in doing. So whatever Home Based Business you get involved in, make sure that it is propped up by the 3 pillars listed in this article.
Do not make the mistake of over-complicating your efforts or you will see very quickly that you will get bogged down with a lot of needlessly wasted time and effort.
Here’s to your Home Based Business success.