HOW TO START A PROFITABLE
HOME BASED BUSINESS
In these days, it's becoming increasingly difficult to make ends meet with just one
source of income. Thus, more and more people are investigating the possibilities of
starting their own extraincome business. Many of these parttime endeavors are
started and operated from the comfort and privacy of the home.
Most of these people are making the extra money they need. Some have wisely and
carefully built these extra income efforts into fulltime, very profitable businesses.
Others are just keeping busy, having fun, and enjoying life as never before. More
importantly, they are doing something other than waiting for the government to give them a
handout they are improving their lot in life. You can do it, too!
The fields of mail order selling, multilevel marketing, and inhome party
sales have never been more popular. If any of these kinds of extra income producing ideas
appeal to you, then you owe it to yourself to check them out. But these aren't the only
businesses you can start and operate from home with little or no investment, and in which
you can learn as you go.
If you type, you can start a homebased word processing or secretarial service. If
you have a truck or access to a trailer, you can start a cleanup, hauling, or
apartment moving service. Simply collecting old newspapers from your neighbors can get you
started in the paper recycling business, one of the hottest new businesses in this age of
environmental consciousness. More than a few enterprising folks have found success and
fortune by starting home and apartment cleaning services. If you have a yard full of
flowers, you can make good extra money by supplying fresh cut flowers to restaurants and
offices in your area on a regular basis. Your green thumb could also prompt you to begin
an office plant care service. You might turn a ceramics hobby into a lucrative
personalized coffee mug business. Whatever your ability, there's literally no end to the
ways you can start and operate a profitable extra income business from your home.
The first thing you must do, however, is some basic market research. Find out for
yourself, firsthand, just how many people there are in your area who are interested
in your proposed product or service, and would be "willing to stand in line to pay
money for it." This is known as defining your market and pinpointing your
customers. If after checking around and talking about your idea with many people over a
period of one to three months, you get the idea that there is a market for your business
or service, your next effort should be directed toward the detailing of your business
plan. The more precise and detailed your plan covering all the bases relating to how
you'll do everything that needs to be done the easier it's going to be for you to
attain success. Such a plan should show your startup investment needs, an advertising
plan, production costs and procedures, a detailed sales program, and exactly how your time
will be allocated. Too often enthusiastic and ambitious entrepreneurs jump in on an extra
income project and suddenly find that the costs are beyond their abilities and the time
requirements more than they can meet. It pays to lay it all out on paper before you get
involved, and the clearer you can visualize everything before you start, the better your
chances for success.
Now, assuming you've got your market targeted and you will know who your customers are
going to be, determine exactly how you're going to reach them with your product or
service. Will you advertise in the newspaper? National magazines? On radio? Television?
Itemize all your costs and time requirements. If it all looks good, set your plan in
motion and start making money.
Here is the most important "secret" of starting and building a profitable
homebased business, so read very carefully. Regardless of what kind of business you
start, you must have the capital and the available time to sustain your business through
the first six months of operation. No matter what, do not count on receiving or spending
any money coming in from your business on yourself or for your nonbusiness expenses
or bills during those first six months. All the income from your operation during this
initial period should be reinvested in the business in order for it to grow and reach your
planned first year potential. Once you've passed that first six month milestone, you can
set up a monthly salary for yourself and begin enjoying the fruits of your labor.
If you've got your business plan properly organized and have implemented the plan, you
should at the end of your first year be able to begin thinking about hiring other people
to assume some of your workload. Remember: Starting a successful business is not a means
towards either a job for yourself or a way to keep busy. It should be regarded as the
beginning of an enterprise that will grow and prosper, with you as the top dog.
Eventually, you'll have other people doing all the work for you, even running the entire
operation, while you vacation in the Bahamas or Hawaii and collect regular income from
your initial efforts.
For more details on market research, business planning, advertising, selling, order
fulfillment, and other aspects of homebased businesses, check with the distributor
from whom you received this report. He or she will be able to assist you in finding
resources for your future planning and business success. Best Wishes for Success!
