If you haven’t already begun a home business, the natural question is, what should I do? While it may seem an overwhelming question, at least as far as this site is concerned your choices can be broken down as follows: MLM (Multi-Level Marketing) such as Amway or others, eCommerce product sites (for example Homedics Back Massager), or “informational” advertising-supported sites like Potty Training Girls.
While MLM or Network Marketing often gets the lion’s share of the conversation, there’s a lot to be said for building a business based on informational sites. Another example of a site I run earns it’s money from advertising, and targets a large number of similar “information needs”. In this case, the site Public Records Lookup serves people searching for public or free death records, information on criminal public records, and the like. The beauty of this type of home business is that you can do it all just from your computer – no inventory, no soliciting of a ‘downline’, etc.
Whatever you choose as your home business, however, many of the basics are the same. You have to carefully plan and keep track of your income and expenses, develop at least a basic business plan, and you have to market your business. The best idea, be it ecommerce, Network Marketing, etc., must be marketed in order to be successful. No marketing, no customers; it’s that simple.
Beyond the logistics of expenses and income, and business plan, and beyond marketing, there will be a need for inspiration and focus. So many home-based businesses fail because the proprietor loses focus, or gives up before the business has had a chance to succeed. Perseverance is one of those indispensable qualities that a home business owner must possess in abundance.
Once you’ve chosen your business, it’s all about execution. Too many people “play business” rather than “do business”. What I mean by this is that it’s easy to get caught up in the details that may be fun or interesting, but don’t really further your main mission. Spending countless hours on logo’s, letterheads or business cards, etc., doesn’t really contribute to your business’s success. In fact it hinders it. You have to apply yourself to the main aspects of your business or you will fail and forever wonder why it didn’t work.
So what business did you choose? Leave a comment below and let us know about what you’re doing, and how you’re doing it. Readers always appreciate tips, “lessons learned”, and anything else that can help them succeed in a home-based business, especially when it comes from “one of us” who has walked the walk and found some measure of success.