Making Money From Home - Five Ways to Do It
Making money from home is one of the greatest blessings in my life.
I have been an entrepreneur from the time I could walk and talk, and have enjoyed a career in serving others through my home based businesses.
During the past 13 years I have owned several types of home-based businesses.
Some were very successful, some were not, but what I learned is that there are really only five types of businesses that can help you earn money from home.
All take discipline and structure, but some take more skills and money to operate than others.
Below is the list including their pros and cons: 1) Traditional Business - This is where you run a traditional business from your home instead of a storefront or office.
For example, my traditional business was a safety training company.
The service I provided was custom training programs for manufacturers and industry.
This type of business required many contract workers such as designers, copywriters, photographers, safety specialists, and more.
There was high overhead associated with running the company (to the tune of approximately $100,000 per year) and I was paid based on signed contracts.
The proposal was made up of the projected raw costs plus a percentage mark-up.
The benefit was that the jobs were profitable.
The cons included fierce competition, rising costs, trading time for money, a lot of travel, and high stress.
2) Work for Someone Else - This includes jobs like medical transcriptions, stuffing envelopes, or copywriting.
The benefits include flexibility and low stress.
The drawback is that there is limited earning potential, and reliance on work being available.
3) Direct Sales - Direct sales is a commissioned based job where you are paid for your efforts when somebody buys your product.
Tupperware, Avon, and other direct selling companies fall into this category.
You are paid on the sales you are directly involved with.
Benefits include flexible hours and team environment.
The cons include having to solicit friends and family including the focus on selling others.
4) Network Marketing - This is a team environment where others help you to build your business by sharing product and business opportunities with others.
Benefits include earning income from everyone in your down line (not just from your own efforts), residual income, team environment, and low overhead.
Cons include a constant need to keep your prospect funnel full and time and resources to grow your business into a money making machine.
5) Internet Business - This is where you become an affiliate and feature other products and services on your website or web pages.
Each time someone orders a product from you, you receive a commission.
Benefits include easy income with no products to ship and no overhead.
Cons include the time it takes to learn effective marketing on the internet, finding the right products that sell, and learning to sell to a niche market.
Currently, my successful home business is made up of three of the above methods: traditional business, a networking business, and an internet business.
So my question to you is this: what is YOUR passion? What type of home based business would YOU like to start?
I have been an entrepreneur from the time I could walk and talk, and have enjoyed a career in serving others through my home based businesses.
During the past 13 years I have owned several types of home-based businesses.
Some were very successful, some were not, but what I learned is that there are really only five types of businesses that can help you earn money from home.
All take discipline and structure, but some take more skills and money to operate than others.
Below is the list including their pros and cons: 1) Traditional Business - This is where you run a traditional business from your home instead of a storefront or office.
For example, my traditional business was a safety training company.
The service I provided was custom training programs for manufacturers and industry.
This type of business required many contract workers such as designers, copywriters, photographers, safety specialists, and more.
There was high overhead associated with running the company (to the tune of approximately $100,000 per year) and I was paid based on signed contracts.
The proposal was made up of the projected raw costs plus a percentage mark-up.
The benefit was that the jobs were profitable.
The cons included fierce competition, rising costs, trading time for money, a lot of travel, and high stress.
2) Work for Someone Else - This includes jobs like medical transcriptions, stuffing envelopes, or copywriting.
The benefits include flexibility and low stress.
The drawback is that there is limited earning potential, and reliance on work being available.
3) Direct Sales - Direct sales is a commissioned based job where you are paid for your efforts when somebody buys your product.
Tupperware, Avon, and other direct selling companies fall into this category.
You are paid on the sales you are directly involved with.
Benefits include flexible hours and team environment.
The cons include having to solicit friends and family including the focus on selling others.
4) Network Marketing - This is a team environment where others help you to build your business by sharing product and business opportunities with others.
Benefits include earning income from everyone in your down line (not just from your own efforts), residual income, team environment, and low overhead.
Cons include a constant need to keep your prospect funnel full and time and resources to grow your business into a money making machine.
5) Internet Business - This is where you become an affiliate and feature other products and services on your website or web pages.
Each time someone orders a product from you, you receive a commission.
Benefits include easy income with no products to ship and no overhead.
Cons include the time it takes to learn effective marketing on the internet, finding the right products that sell, and learning to sell to a niche market.
Currently, my successful home business is made up of three of the above methods: traditional business, a networking business, and an internet business.
So my question to you is this: what is YOUR passion? What type of home based business would YOU like to start?
Source...