Saturday, November 8, 2008

Three Keys to a Reliable Home Based Business Opportunity

Three Keys to a Reliable Home Based Business Opportunity
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Today it is nearly impossible to keep up a decent lifestyle on a single paycheck, but in a household with kids it becomes very difficult for both parents to work away from the home. Child care costs, needing a second vehicle, and time away from your family are a few of the likely negatives of a household with two parents working.

This is a great example of where a home based business could solve this predicament for a family. Home Based Businesses can work for anyone and can be highly profitable. Keep in mind that you must acquire the correct skills in order to succeed with a home based business or participate in a system that is already developed and proven to get the type of result you desire. Otherwise you end up wasting a huge amount of time, resources, and money which goes against starting a home based business in the first place.

I wrote this article to help the average person to get an idea of what to expect and give them a guideline for starting a home based business properly. I want to help you save time and money and most of all the frustration of being a beginner trying to figure out how to make money online. Below I will share the three main keys I've found that identify a strong home based business that will succeed.

Key #1:

The business you start must have costs you can afford. Many businesses such as franchises have start-up costs of $50,000 and above. Ideally you want your start-up cost for a home based business to be under $5,000 so if you don't have the capital in your bank account you can put it on a credit card at first and pay it back as you become profitable rather than having to get a $50,000+ business loan. If your start-up costs are too high then it can take awhile to get into profit. As I stated earlier you want to get into profit as soon as possible and too much debt once again goes against the reason you wanted to start a home business in the first place.

Key #2:

You have to be able to set it up and automate your home based business so you don't spend every hour of the day working on it. This is why many people look for a turnkey system that is already proven and can be setup quickly with minimal effort upfront. The more technical the project is to setup the more likely you will set it aside and forget about it before you start reaping profits. Once again you want your business to be automated so you can get back to spending time with your family and doing the things you love, don't make the mistake of creating something that you are tied down too every minute of the day. The first two keys of a strong home based business are necessary for the third to occur.

Key #3:

You must be able to earn your return on investment (ROI) as fast as possible. A lot of people end up spending a great deal of time on their home based business and start to get some results but don't generate profit for a long time and end up getting discouraged and give up. So what is decent amount of time before you see profit? My thoughts are you want to start seeing profit in less than 30 days. If you find the right system, it is not unlikely to be able to get into profit within a few weeks and by the second and third month, completely replacing your income earned at your job. This will happen for you if you treat your home based business, like a BUSINESS, not just some get rich quick scheme. If you are willing to go out of your comfort zone and learn some new skills and put in the effort, I assure you, you will succeed.

Whatever the business is that you choose, be sure that it fits the three keys mentioned in the article. Don't over think and complicate your efforts or you will get bogged down and end up wasting a lot of time. Here's to a prosperous future in your own home based business journey.

Westly Lager is a success mentor and coach helping teach people how to work online. With Westly's experience and expertise you can't go wrong. See how Westly can help you today by visiting http://www.squidoo.com/instant-income-plan also checkout his review site at http://earnmoneyonlinefast.org

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1 comment:

Rick said...

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2.Click here to earn
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Both businesses will make you real income online.