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How To Start A Profitable Home-Based
Business
- by Jay Harris
( info@imiconcepts.com
)
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
extra-income business. Most of these part-time 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
full-time, very profitable businesses. Others are just keeping busy,
having fun, and enjoying life as never before.
The important thing is that they are doing something other than waiting
for the government to give them a handout; They are improving their lot in
life, and you can do it, too!
The fields of mail order selling, multi-level
marketing, and in-home 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
fields of endeavor you can start and operate from home, with little or no
investment, and learn as you go.
If you type, you can start a home-based typing service;
if you have a truck or have access to a trailer, you can start a
clean-up/hauling service. Simply collecting old news papers from
your neighbors can get you started in the paper recycling business.
More than a few enterprising housewives have found success and fortune by
starting home and/or 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.
You might turn a ceramics hobby into a lucrative personalized coffee mug
business. What I'm saying is that in reality, 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, first-hand, 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 and pay money for
it." This is known as defining your market and pinpointing your
customers. If after checking around, talking about your idea with a whole
lot of people over a period of one to three months, you get the idea that
these people would be paying customers, 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 start-up
investment needs, your advertising plan, your production costs and
procedures, your sales program, and how your time will be allocated...
Now, assuming you've got your market targeted, you know
who your customers are going to be and how you're going to reach them with
your product or service. And you have all your costs as well as time
requirements itemized. The next step is to set your plan in motion
and start making money.
Here is the most important "secret" of all,
relating to starting and building a profitable home-based 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. Specifically, you must
not count on receiving or spending any money coming in from your business
on yourself or for your bills during those first six months. All the
income from your business during those first six months should be
reinvested in your business in order for it to grow and reach our planned
first year potential.
Once you've passed that first six months milestone, you
can set up a small monthly salary for yourself, and begin enjoying the
fruits of your labor. But the first six months or operation for any
business are critical, so do not plan to use any of the money your
business generates for yourself during that period.
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
alleviate some of your work-load. Remember this: 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 or
receive regular income from your initial efforts. |
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Jay Harris, the author, is president of IMI Concepts.com.
"Work at Home with the Ultimate Home Business Software Package."
You can visit his website at: http://www.imiconcepts.com
Email: info@imiconcepts.com
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