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Home > How to Choose a Home Based Business > Which Home-Based Business Is Right For You

Which Home-Based Business Is Right For You

Virtually every entrepreneur wants to become successful by becoming their own boss. Your success in a home-based business will largely be determined by your ability to choose a business suitable for you.

Today I would like to share with you a letter I recently received.

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Hi Bill,

Visited your web site, very nice. I'm a guy who is looking to make some real money. Have tried many things over the years, but no real success yet, just "getting by" as we say in Maine. I get the sense that your offers are for real. My question is which business to start with as start costs are a big factor.

 
I have home-based office with copier and scanner so was leaning towards publishing. I am not afraid of work but need to put my energies in a project that will work and make money.

Warmest Regards, Jim
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Jim,

Thank you for your note. Your personality traits and self-confidence must be carefully explored before deciding to start any business.
Do you have a great sense of independence? Are you determined to be the master of your destiny?

Do you have confidence in your ability to make important decisions about your business? You must believe in your decisions and take the steps to achieve your goals.
 

 

 

In determining which business is right for you, you'll want to consider the industry you have a passion for. Before you invest your money do a simple survey to see how much interest there is for your proposed venture. The most important thing to remember is "don't develop a need, fulfill a need." Next create a simple business plan, chart out how much money you'll need to get started.

Some people have the miss-conception, "all that is necessary is to put up an 'Open for Business' sign and people will come flocking in." This is far from the truth.

The most important ingredient to any business is marketing. The old saying "You can have the best mouse trap in the world, but if nobody knows about it, then you won't sell narry a one" is oh so true. This aspect of any business always takes time and energy. And is the reason many people aren't successful.

For me, selling How-To-Information is the best business. In 1991 I first started selling books by placing ads in magazines. And since 1995 I've been able to cut my business costs dramatically and increase my profits by marketing my programs on the Internet. 30% to 35% of my sales are now generated from the net. And 40% to 45% of my profits are contributed by Internet marketing.

All good things in life take time and effort. If you do your homework first, test your products, fine-tune your business, and most important keep forging forward, then you'll soon be making more money than you can ever imagine. Remember don't give up!

Life is full of uncertainty and hazards. No longer is there a guarantee of job security with any company. Just because you have a job today is no assurance of a paycheck next week. True security is achieved by believing in your own abilities and you will become rich and successful. A fearful, unconfident, pessimistic person is sure to fail in any self-employment opportunity.

Take your time and do your homework first. When you're ready, go full-steam ahead and build your financial empire. I recommend that you first start your business part-time and then grow it into a full-time venture. This will take the financial pressure off you and your family.

Remember to test, test, test your products and marketing before you spend large sums of money. Not give up and you'll be successful.

Regards

Bill

Although business opportunities can be very enticing, it's important for Jim and you to take time and do your homework before you start your business. "Make sure you can stand back an see the entire forest, not just the trees." Know all you can about every aspect of your proposed business venture before you invest your money. This will increase your chances of success.

IF you have questions concerning home-based businesses, feel free to send me a note. My e-mail address is: BillSjostrom@wgsc.com 

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Business Tips Tricks & Info by Bill Sjostrom, WGSC Publications Bill has helped people worldwide profit at home. Checkout "Home is Where the Profits Are... http://www.wgsc.com  Looking for free help? Subscribe Home-Biz E-zine: HomeBiz@wgsc.com .

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