Make Money With an Online Businesses – The Entrepreneurs Dream

Making money online is the dream of many entrepreneurs. For those people who are tired of the 9 – 5 drag or for those who have lost their jobs in this tough economy, the dream of being able to consistently generate enough income from an online business is what keeps them getting out of bed day after day. Online businesses promise flexibility and the great opportunity to make money.

Making mistakes can cost you a lot of money and cause you to fail. There are a lot of people out there making a lot of money with an internet business working at home in their pajamas. The sad reality is that only about 5% of all people running an internet business are actually successful and are making money. This is a hard business to get into and succeed at. Mistakes can be very costly, especially if you go the PPC route. Mistakes are inevitable and beginners make a lot of mistakes which will almost always lead to failure. The problem is that we all make mistakes. It’s just the nature of the beast. Let’s go over some of the things that you need to watch out for.

There are thousands of programs available online to help the beginner. Most of them promise step by step instructions and great success if you only follow their methods for a low one time cost. I myself have purchased a lot of products over the years and most of them have failed to live up to the hype. I was usually able to get something out of each of them, but not the “complete system” that I was promised. Be wary of any systems that promise that you will “get rich quick”. Grab your wallet and run because they are scams at worst and not something that a beginner can effectively use at best. Anything that sounds too good to be true is too good to be true.

There are systems that you can use like CPA and PPC. These types of systems can be very profitable but are best avoided until you have made some sales and have some experience under your belt. They can be very costly if you don’t know how to do good keyword research and it can be financially devastating if you don’t have the money to spend. You could easily run up thousands of dollars in costs and not make a single penny.

There are a lot of multi-level marketing schemes out there. Basically you get a website on their domain and start selling products on it. This type of scheme benefits them and brings customers to them. You usually make very little or nothing. Avoid these types of things at all costs.

One popular and costly method that you will encounter is where you are convinced to shop and earn money. They promise great things and in the end all it ends up doing is costing you a lot of time and money. Avoid these types of things like the plague.

There are some good programs out there but they can be hard to find. If you get lucky and actually find a system that is easy to implement and works for you, then follow the directions and stick with it. Don’t try and reinvent the wheel when you have a proven system that works. In this business, there is a lot of money to be made but you have to work at it consistently to see a payoff.

When I was first getting into internet businesses, I started signing up for newsletters and free products and before long, I was completely overwhelmed. I was spending half of my day or more looking at new products, buying some of them and then never even looking at them again. I was completely overwhelmed!! It was awful. I finally had to unsubscribe from most of them, get a plan of action and follow it. I found that I just couldn’t look at the promotions because some of the sales letters were actually quiet good! I found myself getting sucked into reading these great sales letters and I was spending a lot of money buying products that I couldn’t use. Don’t let this happen to you.

Getting into an internet business can be a great way to make money. But it is hard work and is not easy to be successful at. I’ve only listed some of the most common pitfalls that you will encounter. Remember that without a clear, written plan, you will be wandering aimlessly down the cyber road and you will probably fail. Get a plan, stick to it and don’t let yourself get distracted by promises of the easy way to make millions!

CLICK HERE to check out a great book called “Internet Wealth”.

Success Tips For Home Based Businesses

Are you an online entrepreneur? Then you will know how important the role of proper planning is in business success.

Have you planned for success in your home based business? Do you know how to increase your chances of home based business success? Here are some suggestions that will help you get the most out of your online business. As an online entrepreneur, you will find these tips invaluable.

The first thing you should do is to chart out a schedule. Set your goals and plan how you are going to achieve them. Follow your schedule strictly, doing your best to take all the steps that are needed in order to gain your business objectives.

Although a home business offers you freedom from regular hours, and you can work whenever you wish, it is important to fix timings for yourself and adhere to them. It’s tempting to take a nap or go on a picnic with your kids instead of working your downlines but you have to be disciplined about the amount of time you put into your home based business.

Economize where you can, without compromising on the quality of the service or products you offer your customers. This is particularly relevant at a time like this, when the economic downturn has forced several organizations out of business already. Do your best to keep expenses down – the old dictum that a penny saved is a penny earned has never been truer than at the present time. Look for ways to economize such as bulk buying, waiting till goods come on sale, leasing instead of buying or going in for cheaper options wherever possible.

Be innovative. Spend time thinking about things you can do to increase customer satisfaction, ways to streamline your business operations, new products you can add to what you are offering your customers, striking ways of advertising your product and creating awareness about it. When you get a good idea, try it out to test its effectiveness. Innovation will keep your business fresh and your customers interested.

Diversification is also important as far as home based business success is concerned. It is always wise to have more than one source of revenue. In times of economic recession, having multiple streams of income can be of immense use. Even if you lose your job, or one business fails, you have other resources when it comes to income generation.

Free Online Businesses – 3 Free Online Businesses Ideas That You Should Try

Are you looking for free online businesses but are having the hard time choosing the right one? Online business offers one of the most promising ways of earning money. The cost effectiveness of an online business and the advantages it offers is simply amazing. Imagine owning a business where the working hours can be adjusted depending on the person’s availability, or a business that only requires small amount of funding to start. Online business offers one of the most flexible, convenient and effortless way of generating income. What’s even greater is some of these businesses are free to join. As in zero amount of capital is required.

The secret to all free online businesses are good marketing campaigns. Marketing is the most important aspect in online business for it to run successfully. Only by establishing a strong internet presence and making the product or service known to the customers can a business succeed. Here are different businesses ideas that you might want to try.

1. Affiliate Marketing – although some companies charge a small amount of fee to their recruits, majority of them are free to join. There are many free affiliate programs that only require their recruits to fill out an application form. Affiliate marketing is a decent online business because the amount of money a person gets from here depends on the number of products that were sold under their sites. Which means the more products are successfully sold the higher the pay. Although affiliate marketing may require an ample amount of time to begin and a good web traffic strategy, the here reward is definitely worth it. Just remember that in order to make affiliate marketing work. The strategy to be used should center on how to increase the site’s web traffic. There is even no limit as to how many affiliate programs a person can promote.

2. eBay – Selling items in eBay is also a nice business for people who want to get rid of their excess items, especially those who have many extra items at home. eBay is a very popular money-making site, and almost every person turns to eBay when they want to buy or sell different items. The idea here is to try to generate money by selling unwanted or extra items online. eBay is 100% free to join and 110% effective in creating cash. In order to maintain the website running though and for maintenance purposes, eBay charges their subscribers a small amount of fee only when they successfully sell a product.

3. Paid Surveys – There are many paid surveys that can be found on the internet. Surveys are very easy to do and are perhaps one of the most effortless ways of generating money through the internet. In here a person is asked to fill up and answer a set of questions and then gets paid afterwards. Some surveys take time before they pay their subjects but the bottom line is they will get paid. This online business is free to apply.

Aside from these, there are many free online businesses that can be found on the net. Be extremely cautious in choosing though as some of these businesses are illegitimate and bogus.

Starting Online Businesses – Think Outside the Box

While surfing online, you have no doubt seen the many pop-up ads that advertise ways of starting online businesses. This may get you thinking about online business ideas that may make you a million dollars as well. After all, everyone can agree that a business which allows you to work at home and still make more than enough to support yourself is not a bad idea.

Of course, it is a lot easier to say you like the idea of working online than it is to actually sit down and brainstorm various ideas that can help you achieve your dreams. If you find yourself struggling to come up with online business ideas or even one business idea then you may want to read through the following tips.

First of all, you should target your research on things or niches that you like. You are going to be much more determined and devoted to your online business if it is centered on something you really like. Luckily enough, the internet is a very diverse environment filled with opportunities for people with all types of interests so what may seem impractical in the real world can hold many possibilities online.

Second, you want to do some research and look into niches that have not been fully explored on the Internet. While it is possible to compete with existing businesses it can be much easier to make a profit if you offer the only option online for people to visit. Thus, if you find that some of your online business ideas have already been developed you may want to spend some time thinking about how you can alter your service or product to make it unique to the online world.

Third, now you want to be creative and ingenious with your online business ideas. There is an old adage that says creativity is the cornerstone of invention. Do not be afraid to think outside of the box when it comes to your potential internet business. In fact, people often flock to ideas online that may seem completely ridiculous when taken out of the online context. If you need any proof of this idea look at the idea behind eBay. Who would have thought a giant yard sale would ever become a multi-million company?

When starting online businesses, your niches to start will not come to you overnight you have to make sure you keep your mind open and your ears sharp. You never know where inspiration will strike so make sure that you are open to its rewards!

Small Businesses – Measuring Business Performance From The Customer Perspective

Measuring your business performance from the customer perspective is a must for any business, regardless of its size. It will pay small business owners to become intimately familiar with the Key Performance Indicators used to measure, monitor and provide the actionable insights needed to readily adapt your business to the changing demands of its customers whilst maintaining a growth trajectory.

Regardless of the industry you are in there are core set of metrics you need to apply to your business. The core customer metrics you need to become familiar with are:

* Market Share/Market Penetration

* Customer Acquisition

* Customer Retention

* Customer Satisfaction

* Customer Profitability

Market Share/Market Penetration

Market Share reflects the proportion of business in a given market (in terms of customer numbers, dollars spent, or unit volume sold) that a business sells. To measure this effectively, you need access to market research which identifies the size of the total market.

These market figures are usually available from your government statistician, industry bodies and trade associations. The government statistician provides high level research and is usually available for free. Industry groups and trade associations may charge non-members, while members may access the information for free, or at a reduced rate.

While these reports usually provide information about the Market Share of each of the competitors, it is usually limited to only those competitors that hold significant share in the market, while small businesses and start-ups are lumped together in a single measure. So until you reach critical mass and are rewarded with recognition in the market research papers, my suggestion is that you substitute the Market Share key performance indicator with the Market Penetration measure.

Market Penetration uses the your business’s customer numbers, dollars spent or units of volume sold and measures them against the total market figures to get some idea as to your performance in this area.

Customer Acquisition

Measures, in absolute or relative terms, the rate at which a business unit attracts or wins new customers or business. Typically, if your business is on a grow path your objective will be to increase your customer base. Usually it is measured by either the number of new customers or the total sales to new customers. Measures could also be applied to each customer segment if you apply customer relationship management principles.

Another key measure that I suggest you apply in relation to measuring customer acquisition is the Acquisition Cost. This measures the performance of your marketing campaign in regards to the achieving the desired outcome – acquiring new customers.

Acquisition Cost is the number of new customers since the campaign started divided by the total marketing campaign cost.

The final measure to add is the Customer Conversion Rate, which measures the total number of leads generated divided by the number who actually made purchases, and expressed as a percentage.

Customer Retention

Tracks, in absolute or relative terms, the rate at which a business retains or maintains ongoing relationships with its customers. Clearly, the best way for increasing market share is to start by retaining your existing customer base. Customer Retention is measured by measuring your existing customer base at the beginning of a given period divided by the number of lost customers during that period. It is sometimes difficult to identify when they are considered to be ‘lost’. I’d suggest that anyone who did not make a purchase for over a year, is a lost customer.

Customer Satisfaction

Customer retention and customer satisfaction are driven by meeting customer needs. A successful business will be looking to provide customers’ innovative products with an excellent value proposition. Research has shown high degrees of customer satisfaction correlate with achieving loyalty, retention and profitability. Today, with competitors only a mouse click away, your focus should be on generating ‘raving fans’ by providing them with exceptional customer experiences. This not only drives repeat custom but creates valuable word-of-mouth recommendations to their family and friends.

You need to derive a satisfaction measure based on direct feedback from your customers. This measure will differ for each business, but should assess each component of the buyer’s experience to garner actionable insights which will act to focus your attention and activities.

Customer Profitability

This measures the net profit of a customer after allowing for the unique expenses required to support that customer. A financial measure like customer profitability, keeps the business from becoming customer-obsessed. Companies should aim to have more than satisfied and happy customers – they should be aiming for profitable customers.

This helps the business to assess whether they should continue in a particular market or,due to the drain on the business, should choose to opt-out.

Implementing core customer metrics in your organisation can help you track your performance and provide the basis for effective, fact-based decision-making in your small business.

10 Good Reasons Why Small Enterprises (Small Businesses) Fail

You’ll agree with me that there are so many small businesses which have contributed a lot to the growth of economy. They have created employment opportunities for many families although some remain to be small throughout their operational life.

It is obvious that those who are starting new ventures have objectives to achieve. And to mention each business has got its own objectives to achieve such as maximization of profits and sales, minimize costs, maintain a certain level of production and labor force etc.

Failing of a business opportunity is what an entrepreneur won’t want to happen. Inasmuch as we agree with the fact that there are firms which have succeeded, we should also accept the fact that a good number of them have failed even before two years lapse after they commence business.

If aspiring entrepreneurs addressed the reasons why small businesses fail, then they will not fall to be victims of the same causes of failure. This is because they’ll be in a position to identify these causes and fix them before it’s too late.

Now you may be asking yourself as to why some businesses remain to be small throughout their operational life despite some of them making profits or are capable of growing.

4 Reasons Why Small Business Remain to be Small

1.) The owners of these businesses prefer not to expand their businesses. Some sole proprietors do not want to be bothered with the challenges of managing a big business. They don’t want to employ people to assist them in running their businesses but instead they prefer to be assisted by their family members.

2.) The nature of the product/service the business is involved in doesn’t allow expansion. There are people offering products/services which make it difficult for their business to grow.

3.) Lack of capital for expansion. There are small businesses which are viable and have the potential of growing but they lack enough capital. Such businesses have the challenge of securing funds from financial institutions. Lack of capital plays a negative role in hindering the growth of small businesses.

4.) Very low demand. If the business has a very low demand for its product or service, then at the end of the fiscal financial year/trading period the business won’t realize profits, and if it does, it’s very low, therefore the chances of it expanding are very minimal. Just to mention, realization of inadequate profits as a result of very low demand hinders the growth of small businesses.

However, there must be a starting point and as such, every business starts as a small entity and it gradually grows to a medium entity and eventually it becomes a big business entity which is either a private limited company or a public limited company. Note that a partnership business can also grow to become a big business.

Reasons Why Small Businesses Fail

1.) Wrong Reasons For Commencing Business: People who start a business for wrong reasons haven’t succeeded. Just because another person is making high profits in a certain line of business doesn’t mean that you will also make the same amounts of profits as him/her if you start the same business.

2.) Poor Business Management: When there is poor management of the business it becomes difficult for such a business to succeed in its operations. Finance, marketing, purchasing and selling, planning, hiring and managing employees is what most new business owners fail to execute effectively thus making their small businesses to fail.

3.) Lack of Commitment: Starting a business requires someone who is committed in ensuring that it succeeds. Neglecting the business will cause the business to fail. Many small businesses have failed because the owners didn’t take their time in monitoring performance and in marketing them. Some business owners leave their businesses to be managed on their behalf by incompetent people who lack book keeping knowledge and the knowledge of managing a business.

4.) Lack of Finances: Small businesses have failed because of lack of adequate finances. Some of the owners underestimated the amount of capital required and as a result of this underestimation some ended up running out of operating capital thus ending the operation of their businesses.

There are those who have no reserves which has led them not to be able to take care of loses and disasters when they occur thus making them to quit business.

5.) Over-Expansion of the Business: This has led to failure of many small businesses. This happens when there is borrowing of too much money beyond what the business requires so as to expand the business. Moving to markets that are not profitable is also over expansion of the small businesses.

An ideal expansion is the one that is driven by customers due to their high demand for the products and services which leads to high sales thus the business experiences good cash flow.

6.) Location: The place where the business is located is critical in determining its success. Small businesses have failed because of them being located in areas that are not ideal for business. They should be located in areas that are accessible, populated with people and has demand for their products and services.

7.) Personal Use of Business Money: This is the biggest challenge facing many small business owners. They withdraw money meant to operate their businesses to meet their personal wants and needs. If they continue to withdraw money from their businesses without returning it, their businesses will eventually run out of finances therefore forcing them to end the operations of their businesses.

8.) Lack of Delegation: Small enterprises have failed due to owners not delegating some of the duties to their employees. They think that if they delegate them, then their employees will not perform these duties as they would personally perform them. When such owners fall sick or are away from their businesses, then the operations of some tasks will be paralyzed till they resume to work.

9.) Not Diversifying: Small enterprises which have only one product/service to offer are prone to fail easily compared to those that have a variety of products/services.

10.) Procrastination and Poor Time Management: Postponements of tasks which the small business owners feel to be unpleasant to perform has made the small businesses to fail. An example of such tasks include following debtors to pay their debts (debt collection).

Time management remains to be a challenge for many people who own small businesses. If important tasks like delivering products to customers, purchasing stock etc are not handled in the appropriate time, then the business will lose its customers.

The above are not all the reasons why small businesses fail, there are more reasons.

Make Your Existence Global With Good Home Based Businesses

Extend the sphere of your activity from home to the world and from regional to international level of globalization. The extensive service of the internet is at your disposal to help you execute this mammoth task with good home based businesses. There is no other opportunity than a home business to earn bread and butter not by running round in circle outside the home but lying back on a couch inside the home.

Doing research work at home for corporate organizations or academic institutes is one of the good home based businesses. Research is a time consuming job. Therefore, private companies to save their valuable time hire the services of freelance workers at a handsome cost to research for them.

You can grab this opportunity to make profit in abundance. To stand out in this field you need internet navigation skills, comprehension skills and knowledge of different disciplines.

Online retailing is a good option to make money online by working from home. You can do it by purchasing a stock and then selling it.

Online retailing requires you to keep clients supplied with quality products from time to time. Make sure to deliver products to clients after assessing their value and quality. An eye for minute inspection ensures long-term profitability of this field.

In the market of good home based businesses, eBay selling is another suitable money making method. eBay is a global platform to display your products for sale.

Visitors to the site purchase your products and pay a hefty amount for them. Selling quality products with customer oriented service at eBay can fire up your home business.

Affiliate selling is also a good internet based home business. Cost-effective nature of this business is the biggest advantage for you. It does not require you to invest for the purchase of a product and bear the stress of selling it.

Recommending the product or service of another person to internet buyers is the only task that you need to carry out.

Freelancing is the most rational and reasonable option among the good home-based businesses. As a copywriter, website designer or a business coach you can make your way to this online home business field.

Freelancing is selling your technical, creative, artistic or theoretical knowledge and skill. There are few other opportunities than freelancing to making money by putting your skills into application.

There are a few things to keep in mind while trying your luck in the tinsel world of home businesses.

  • Fast and quick access to clients from across the globe
  • Complete knowledge of using the internet in all possible ways
  • A perfect sense of professionalism
  • Grip on marketing techniques to promote your business
  • Idea of different advertising modes and methods

A home business becomes a moneymaking machine with proper application of knowledge, expertise and effort.

These three things comprise the chief capital to fuel the growth and development of good home based businesses.

How to Start Home Based Travel Businesses

Home based travel businesses are no longer the wave of the future. Home travel businesses are the hot trend right now. So if you’re considering becoming a travel agent, this brief guide will provide you with information you need to know.

First, there are generally two types of home travel businesses:

  • Referral agencies
  • Booking and selling agencies

Home based travel businesses that fall into the referral agency category do just that: they refer people to a travel agency. They may have several agencies they refer people to, but most generally have one travel agency that they work with on a regular basis. In return for the referrals from a home based business travel agent, the travel agency pays a referral fee or commission percentage on what the travel agency receives from the supplier. Part-time referral agents can earn up to $500 on each sale, and sometimes even more.

The home based travel businesses that fall into the booking and selling agencies category usually work with one travel agency. These booking and selling travel agencies actually do the booking and planning involved in making all the necessary arrangements for great trips.

These are people who enjoy attending to all the little details. They serve, more or less, as facilitators between their clients and a travel agency. Booking and selling home based travel business agents earn a lot higher percentage of the overall commission-but they DO do a great deal more work. A full-timer at this, however, can earn $50,000 or more a year.

Some things you want to consider before you decide to open your own home based travel business are:

  • Do I need any special training or education?
  • Should I pursue this part-time or full-time?
  • Is my family supportive of my decision?
  • Do I have a room in my home where I can set up an office?
  • Should I get an extra phone line?
  • What sort of office equipment do I need?
  • What will I do about accounting?
  • How do I manage my tax needs?
  • Is this a job I will love?
  • How much money do I want to make?
  • Should I do any advertising?
  • Do I have the contacts I need to pursue this business opportunity?
  • If I don’t, how do I make the contacts I need?
  • Am I willing to put the necessary effort into this business?
  • Does my state require me to have a business license?

Once you’ve answered all or at least most of these questions, you will need to make a business plan, outlining the steps you’ll have to take to achieve your goal of having your own home based travel business. And a plan just isn’t any good unless you follow it.

You also need to make sure your business plan is realistic. If you have to take a course to run the type of travel agent home business you want to have, deciding to open up shop next week isn’t reasonable. By being realistic in your business plan, you will save yourself an untold amount of frustration as you start and grow your business.

And starting your own business, whether it’s a cruise travel home business or a European vacation home travel business, can be frustrating. Be prepared for obstacles to raise their ugly little heads when you least expect them to, and roll with them as much as you can.

Your goal is to offer superior, professional travel services. Don’t let a cranky client get to you. Always keep a pleasant, cheerful demeanor. You can scream later. Better yet, you have a laugh or two over it with friends, while sipping a glass of fine wine that you bought with the money you’ve earned as a home based business travel agent.

Business License Requirements For In Home Based Businesses In Oregon

Salem is the capital and Portland is the largest city of Oregon. It is a good location to start any business especially home based businesses. More people have begun in home based businesses as it offers them several advantages such as reduced operating costs, saving time and money spent on traveling to the work place, getting quality time with family etc. However, it is necessary to do some research to find out if there are any licensing requirements for operating a business from home.

Business License Requirements:

It is recommended to give your business a legal structure, which can be done with the help of an experienced attorney who will also guide you regarding the type of entity that best suits your business. This can be also done by calling the Oregon Corporation Division at (503) 986-2200 or visiting their website http://www.filinginoregon.com

It will be necessary to choose a business name that has been formed in compliance with applicable State laws and ensuring that it is not a replica of any registered business.

It will be necessary to find out about the various licenses that are required for your kind of business and to check if it is permitted to operate as an in house based business. In order to get a license, all businesses have to get approval from the Planning, Building, Environmental Health and Facilities Departments of the County. In home based businesses must comply with all restrictions, regulations and zoning ordinances required by the Tax Collector, Planning Department as well as being reviewed by the Fire Department and Sheriff’s Department if the nature of your business requires it.

There are several factors to be considered, such as:

o Rule that permits only the resident of the home and one employee to work in the house etc.

o Certain commercial businesses have certain restrictions such as complying with zoning laws and regulations that may limit the size of their signboards, restricts the outdoor storage, parking space, or requires other special permits etc.

It will be advisable to contact the local courthouse to garner details about the exact licenses and permits that pertain to your chosen area of business.

Some kinds of businesses do not need licenses where as others require special business licenses and other need a general business license. Some businesses that are in home based require licenses in the State level too such as the food service industry or if you are a professional such as a lawyer, doctor etc. Businesses that offer investment advice or that sells firearms need federal business licenses.

For more information, contact Oregon Department of Environmental Quality at (800) 452-4011; OSHA at (503) 378-3272, or (800) 922-2689 inside Oregon; or the State Fire Marshall at (503) 373-1540.

For information on Oregon taxes, contact the Oregon Department of Revenue, (503) 378-4988 or visit http://www.irs.gov.

The 10 Best Home Based Business Ideas – Online Businesses Are Here to Stay

You may have noticed that Sacramento’s economic condition has not exactly been strong, of late. In fact, while conditions across the country are trying, to say the least, Sacramento, and California as a whole, seems to be leading the pack in economic devastation. With a State budget on the verge of collapse, years of arguing and posturing over the use of public funds, and what appears to be the breakdown of our State’s entire public service sector, local entrepreneurs are turning to online businesses to supplement, and in some cases actually replace their income streams.

Over the last several years, but specifically in the last six to nine months, direct sales companies have seen a surge in their membership numbers. Those companies experiencing the highest growth are companies utilizing the internet as a primary means of member recruiting as well as well-developed web purchasing interfaces.

We know this economy has been hard on everyone, and we felt that this list would be timely and helpful to our readers. What follows is a list of the 10 best home based business ideas.

Leading the pack of home-based direct sales companies are those that offer access to goods and services used by people on a regular basis, and especially those that offer discounts and/or rebates on these every day purchases. People are not interested in buying things they don’t view as necessary any more. Today what they are looking for is access to those items they have to have, and they are looking for ways to buy them cheaper and more efficiently.

And clearly in this list, the online options dominate. Fully six of the top 10 best home based business ideas we researched were online opportunities. There is no doubt that online commerce is just in its infancy. According to one report this $305 Billion industry is likely to triple in the next 5 years, and that is allegedly a conservative estimate. More and more businesses are finding online sales to be lucrative, as well as more efficient and cost effective. There are less employees required and businesses can sell to a broader range of clients spread out over a greater geographical territory. The potential is limitless.

So, without further ado, our list of the 10 best home based business ideas (in reverse order).

10. Home Day Care Center

Believe it or not, the home daycare center still ranks in the top ten for home-based businesses. The reason is that in these economic times it is becoming more and more difficult for families to stay afloat on just one income. Everyone is looking to supplement their incomes, and those with two spouses working, and kids at home, must have an alternative to the daily care of their children. Parents of young children looking to supplement income from home may find day care an excellent way to bring in income as well as spend time with their own children. There are some other benefits to this profession as well, such as the opportunity to socialize your own children at a young age. But, beware of the potential pitfalls of this industry: many children find it hard to share their personal space in their own home for lengthy periods of time, this may result in frustration for the care-giver’s own children. Also, licensing is required in most jurisdictions, so be sure to check with your local authorities before you launch a home day care.

9. Medical Transcription

This is an excellent choice of careers for people with excellent English language skills and typing ability. Many doctors outsource their transcription functions rather than pay employees to handle them. It is more cost effective for the doctors since they do not have to pay Medicare, SDI and other taxes that accompany hiring employees. This business is excellent for start-ups since it requires very low overhead and equipment purchases, and can be done in a minimal amount of space. In fact, most people already have the necessary equipment such as a desk, computer, and tape recorder. Incomes can range from $25,000 per year for part-time work to more than $90,000 per year for full-time efforts.

8. Accounting

For those would-be stay-at-home working parents, especially those with a strong background in accounting and/or financial skills, an accounting or bookkeeping career may be just the right choice. This career option offers a tremendous amount of flexibility to the working parent, and an excellent income opportunity. You can start the business right from your own home, building on referrals and low cost advertising, but it has the potential to grow with you as your children age and become less dependent, entering school, and freeing up more of your own time. Look heavily to building relationships with other professions, such as attorneys, insurance professionals and real estate agents as they will often refer clients to you. You can begin this business from scratch, or you can buy a tax and accounting franchise (a slightly more expensive option, but perhaps a shorter start-up period). Again, check with local authorities for licensing requirements in your area. Regulations can change from state to state, and there is also a wealth of information available at the American Institute of Certified Public Accountants.

7. Catering

Many parents love to cook and entertain, and catering can provide Moms (or Dads) an opportunity to work from home, but still get out and socialize and do what you enjoy. Most of the upfront preparation work can be done from your own home while looking after children, and then meals can be delivered, or in some cases even picked up, for delivery to the event. Parents with a modest approach can make an excellent income by simply providing the meals, those looking to satisfy a larger dream can also provide staff for set up, waiting, and tear down, or even do it themselves. Income potentials can be very good with catering services, and the most successful home-based caterers might make close to six figures.

6. Online Affiliate Programs

One of the internet’s greatest introductions to home based business owners over the last decade has been that of the affiliate marketer. This is the first of our online business opportunities, and is a position that does not require you to work for a company, purchase products, carry inventory, or even to interact with customers. You can easily start a successful and lucrative affiliate marketing business by simply finding products on the internet that you are interested in, joining the company’s affiliate program, and then marketing those products online. Most affiliate programs pay directly to a Pay Pal (or other payment processing service) account on a monthly basis. Of course, this business may require some start up capital if you choose to market through pay for service venues, such as pay per click. There are plenty of free marketing sources online as well, but they may require more effort. Still, this can be an excellent way for work-from-home parents to supplement a one-income family. You can find out all about it by Googling “Affiliate Programs” or on resource sites such as Affiliate Programs and Affiliate Scout. While this is a viable internet opportunity, it does require you to seek out and market individual companies and their products. In my opinion, a far better opportunity to consolidate this effort into a more lucrative, efficient and profitable business exists in item number one below.

5. Freelance Writing

Everyone has considered writing a book at some point in their lives, or at least liked the sound of that idea. Today’s market for writers is wide open, everything from relevant articles on travel, the arts, local scenes and business to fully fledged e-books on both technical as well as tactical topics. Especially if you are already familiar with a specific subject, this is a great way for you to share that expertise with a very broad market. There are literally millions of people searching the internet every day for information on specific subjects, and they are willing to pay for that information. Try your hand at writing first with shorter venues, and as your skill and experience grow, branch out into more aggressive projects. An excellent resource for freelance writing on the internet can be found at the Freelance Writing Jobs Network or, become an Examiner in your area.

4. Business Coach

While this opportunity is not necessarily an “online” opportunity, it is a bit of a hybrid, and it really plays to those individuals at the top of their game. This opportunity requires someone with a very strong business background, or at least some formidable business training. In today’s climate with so many people becoming displaced or seeking opportunity outside of the traditional corporate walls, there is a tremendous need for someone off which to bounce ideas, to assist in the business planning activities and to keep over-energetic CEO’s feet on the ground. If you have experience in corporate management, business acumen or other specialized skills then you can share them with those who have ideas but less experience. There is even a coaching certification program and referral service provided to the members of the International Coach Federation.

3. Web Design

Web sites are a must in today’s business climate, even for traditional brick-and-mortar type businesses. With online shopping and information dissemination becoming more and more a requirement companies are jumping onto the web in droves, and they need excellent web site designers to guide them through the process. This is truly a case where it is difficult to see the forest for the trees. There are so many facets to web design and a web presence that it is almost impossible to get started without some heavy duty assistance. For anyone familiar with html programming, CSS, SEO, or even WYSIWYG editors, this opportunity can be a gold mine. Much of your work can be done after hours when the kids are in bed, and this is one thing that makes this opportunity perfect for moonlighters and all-day parents.

2. Online Shopping Portal

Online shopping is already a $305 billion industry, and according to most reports, we have barely scratched the surface. There are several companies on the internet now that allow entrepreneurs and home-based business owners to purchase a web portal and profit from sales that occur through that web portal. Several of these companies will not only pay owners for purchases they have made through their websites, but also for the purchases made through the web sites of people they have personally referred. This is the affiliate program on steroids. This business is poised for tremendous growth, and companies also capitalizing on the “green” movement will benefit even more. Recent earth day articles and studies pointed out that online shopping is far more efficient and less harmful to the environment than traditional shopping. Watch this market explode in the next 5 years.

1. Online Marketing Education and Financial Training

Our number one pick of the 10 best home based business ideas – drum roll please – CarbonCopyPro. Whatever business you are in, and whether it is online or brick-and-mortar, these days you have to be able to market yourself online. It is essential in today’s marketplace, and will be indispensable in the future. The best money you can spend is to invest a little in your own training before you begin your online marketing campaign. And if you are going to spend a little on yourself, why not do it in a place where you can also earn while you learn? By far, the best training (and income opportunity) we have found for internet marketing, both free and paid, is through CarbonCopyPRO. At CarbonCopyPRO you will learn from the best of the best, internet marketers earning tens of thousands of dollars online every month, and they have a rather auspicious goal of creating 100 millionaires by 2012 – will you be one of them?

So, now you have the 10 best home based business ideas. Of course, there are a number of other considerations you must keep in mind, such as which opportunity best fits your lifestyle, avoiding scams, etc.; and we will delve into some of these issues in future articles. All that is left now is for you to do your own homework and decide which opportunity is best suited to your tastes. Happy hunting.

Exit mobile version