Home Based Business Opportunity

Which home based business opportunity is right for you. Follow these steps to decide which homebased busines is right for you.

You have decided you want to start a homebased business, but how do you find which one will work best for you? I will give you some steps to follow that will help you decide which business you are cut out for, and that actually will make you a profit from home.

Your first step is to brainstorm. Make a list of every possible business that would interest you. Don't criticize or even think about whether it is realistic or not, just let your mind wander. To get ideas think about your hobbies. Are there any businesses that could come from them? Do you enjoy making wooden crafts? If so, you could make kits, design projects for magazines, teach classes, sell finished projects at fairs, sell retail, sell wholesale through catalogs, etc. And that is just one hobby. Make a list for each hobby, then move on to interests. Maybe you are interested in business in general and you have experience in sells. You could combine the two for businesses that sell someone else's creations. You could sell wholesale printing services, drop ship items from catalogs or join the Tupperware or Amway team.

Brainstorm for at least a day and preferably a week. You should get a pretty good list before you start the next step, which is to whittle it down. When you start to narrow your ideas to find an enjoyable, yet profitable business you have to first think about customers. Without them no business will ever succeed. There has to be enough customers out there to bring in the profits you need. To decide if each idea will make enough look at each business or service, how much money will it make? Multiply that by how many customers you would need to make enough to meet your needs. Are there that many customers out there?



Let's take the example of selling wooden products wholesale through catalogs. You can sell one product for fifty dollars wholesale. You know of six different catalogs that carry similar things. If you can get signed up with just one they will do the marketing and depending on their circulation, let's say, you can expect to sell one hundred items a month. You will have to some research here. For our example's sake, that's five thousand a month. It sounds good so far. But now you have to consider how long it takes you to make each item. If it takes a whole day, you can only make thirty, at most, each month. But if you can make ten of this item each day you've got yourself a pretty good business.

So now that you have gone through your list and decided which ones have enough customers to make a profitable business, it is time to whittle some more. Now decide if you want to sell a service or product. A service is something you do for someone else and usually means you are paid by the hour or project. A product is an item you sell. You do not need to be the one making that item though. You can sell something someone else has made.

Ask yourself these questions to decide on a final idea. Do I love this business enough to ride out the hard times? Passion for your business will sell the idea to clients and also keep you going when things get tough as they most certainly will. Do you want to work full time or part time and how much do you want to make for your efforts? Which business's will give you what you want? Would I enjoy the people this business will bring to me? Will this business interrupt my lifestyle in a negative way? What do the important people in my life think about this business? Will they encourage me to keep going, will they be understanding with the amount of time I will have to devote to this business?

By now there should be at least one business that you are passionate about and makes financial sense. Congratulations you have just completed the first step in getting your homebased business off the ground.

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