The Silver Lining
| Category: Home Based Business - Getting Started | Date: 2003-06-19 |
The nations economic forecast has been gloomy. Stocks are down, lay-offs are up, and consumer confidence is at its lowest point in years.
Its a great time to start a home business.
If job worries are getting you down, a business on the side can serve as insurance against a bumpy economic ride. And the low overhead of launching your business from home means that you can do it even if youre short on cash.
If youre also short on ideas, here are a few:
Direct Sales
Were not talking about pyramid schemes where all you sell is an opportunity. You can find dozens of reputable companies with quality product lines which follow a multi-level compensation model. These are especially appealing to home-based entrepreneurs because (a) they require very little upfront investment, (b) their offerings are known and trusted and (c) placing an order will not break the bank... so its possible to find eager customers, even if you are new to sales.
Of course, making big money in MLM comes from commissions you make off the sales of your downline - the people you recruit and the people they recruit. Again, your timing for trying this out could not be better: The same job and money insecurities that are inspiring you to look for a little income insurance are driving others to do the same. This is a good economy for building a downline.
You do need to investigate any opportunity before you sign. Start your research at NOBOSS http://www.noboss.com which offers extremely detailed descriptions of over 100 different low-cost businesses you can start at home.
Here are some things to keep in mind:
(1) Is this a product you would use yourself and recommend to others? If youre not familiar with their offerings, buy some for yourself and use them. If youre not wild about the product, you wont have an easy time selling it. Keep on looking.
(2) Large commissions are great, but big ticket items dont sell well in this kind of nervous economy. You may do better to choose a low-cost line that will appeal to a wider audience and plan to earn your commissions on volume.
(3) While it is customary to charge a new rep a start-up fee (those sales kits do cost something to produce and often contain samples of a companys best products), be wary of any MLM company that requires a huge investment or that you keep a lot of inventory on hand. On the other hand, an opportunity that costs nothing to get into may not offer much support -- or may not even have an actual product to sell!
Online Sales
If the idea of starting a low cost home business is appealing to you but direct sales is not, you might want to try selling products online. The Internet has made it possible for thousands of home-based entrepreneurs to earn a solid living from home -- with little investment and
flexible hours.
Hundreds of large corporations pay hundreds of thousands of online entrepreneurs commissions to sell products from their websites. These affiliate programs are easy to join and most are free:
http://www.quinstreet.com
http://reporting.net
http://www.commissionjunction.com
http://www.linkshare.com
Be aware that many of the headlines proclaiming lay-offs and poor stock performance have come out of the technology sector. (The spectacular demise of eToys is an example!) The affiliate model is young and evolving. Many programs are being discontinued on a daily basis, so once again, research is essential.
You should also understand that your income potential with affiliate programs is directly in proportion to the number of people you are able to reach online. If you explore this route, you will probably spend a lot of time learning about website promotion and ezine ad placement before you start earning a substantial income from affiliate programs. However, *it can be done* -- in your spare time -- and at very little cost.
The Service Option
Your third option for starting a low-cost home business is to offer a service that others will need. And once again, with so many people starting businesses on the side, it should not be too difficult to fill this niche.
Even with the tumult in the Internet economy, having a website is becoming a necessity for everyone in business. Web design, site promotion, advertising copywriting and newsletter editing are all services you can offer to other home-based entrepreneurs. So are classic services like tax preparation, bookkeeping, errand running, bulk mailing, secretarial (virtual assisting), desktop publishing and more.
Youll find some great books to help you get started here:
http://www.parentpreneurclub.com/bookreviewz.html
Like I said, its a great time to start your home business... so whats keeping you?
About the Author
Donna Schwartz Mills is the work-at-home parent behind the ParentPreneur Club parentpreneurclub.com
Find out how were getting healthy while earning a healthy living at home - http://www.unitoday.net/socalmom
:To contact see details below.
donna@parentpreneurclub.com
http://www.parentpreneurclub.com
Its a great time to start a home business.
If job worries are getting you down, a business on the side can serve as insurance against a bumpy economic ride. And the low overhead of launching your business from home means that you can do it even if youre short on cash.
If youre also short on ideas, here are a few:
Direct Sales
Were not talking about pyramid schemes where all you sell is an opportunity. You can find dozens of reputable companies with quality product lines which follow a multi-level compensation model. These are especially appealing to home-based entrepreneurs because (a) they require very little upfront investment, (b) their offerings are known and trusted and (c) placing an order will not break the bank... so its possible to find eager customers, even if you are new to sales.
Of course, making big money in MLM comes from commissions you make off the sales of your downline - the people you recruit and the people they recruit. Again, your timing for trying this out could not be better: The same job and money insecurities that are inspiring you to look for a little income insurance are driving others to do the same. This is a good economy for building a downline.
You do need to investigate any opportunity before you sign. Start your research at NOBOSS http://www.noboss.com which offers extremely detailed descriptions of over 100 different low-cost businesses you can start at home.
Here are some things to keep in mind:
(1) Is this a product you would use yourself and recommend to others? If youre not familiar with their offerings, buy some for yourself and use them. If youre not wild about the product, you wont have an easy time selling it. Keep on looking.
(2) Large commissions are great, but big ticket items dont sell well in this kind of nervous economy. You may do better to choose a low-cost line that will appeal to a wider audience and plan to earn your commissions on volume.
(3) While it is customary to charge a new rep a start-up fee (those sales kits do cost something to produce and often contain samples of a companys best products), be wary of any MLM company that requires a huge investment or that you keep a lot of inventory on hand. On the other hand, an opportunity that costs nothing to get into may not offer much support -- or may not even have an actual product to sell!
Online Sales
If the idea of starting a low cost home business is appealing to you but direct sales is not, you might want to try selling products online. The Internet has made it possible for thousands of home-based entrepreneurs to earn a solid living from home -- with little investment and
flexible hours.
Hundreds of large corporations pay hundreds of thousands of online entrepreneurs commissions to sell products from their websites. These affiliate programs are easy to join and most are free:
http://www.quinstreet.com
http://reporting.net
http://www.commissionjunction.com
http://www.linkshare.com
Be aware that many of the headlines proclaiming lay-offs and poor stock performance have come out of the technology sector. (The spectacular demise of eToys is an example!) The affiliate model is young and evolving. Many programs are being discontinued on a daily basis, so once again, research is essential.
You should also understand that your income potential with affiliate programs is directly in proportion to the number of people you are able to reach online. If you explore this route, you will probably spend a lot of time learning about website promotion and ezine ad placement before you start earning a substantial income from affiliate programs. However, *it can be done* -- in your spare time -- and at very little cost.
The Service Option
Your third option for starting a low-cost home business is to offer a service that others will need. And once again, with so many people starting businesses on the side, it should not be too difficult to fill this niche.
Even with the tumult in the Internet economy, having a website is becoming a necessity for everyone in business. Web design, site promotion, advertising copywriting and newsletter editing are all services you can offer to other home-based entrepreneurs. So are classic services like tax preparation, bookkeeping, errand running, bulk mailing, secretarial (virtual assisting), desktop publishing and more.
Youll find some great books to help you get started here:
http://www.parentpreneurclub.com/bookreviewz.html
Like I said, its a great time to start your home business... so whats keeping you?
About the Author
Donna Schwartz Mills is the work-at-home parent behind the ParentPreneur Club parentpreneurclub.com
Find out how were getting healthy while earning a healthy living at home - http://www.unitoday.net/socalmom
:To contact see details below.
donna@parentpreneurclub.com
http://www.parentpreneurclub.com
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