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HOME BASED BUSINESS
A COMPLETE GUIDE FOR YOUR
WHAT IS A HOME BUSINESS?
As the name suggests, a Home Business is a business that you can run from the comfort of your own home. The advantage of this is that it is much cheaper than running a factory or renting an office. No need to pay any extra bills other than the ones you normally pay for your home. It also means that you can choose your own working hours imagine being able to take the children to school and pick them up every day, being able to take a break when you want and so on. And of course you are working for yourself so no boss breathing down your neck and telling you what you can or cannot do. You have total freedom to enjoy life and earn good money.
CHOOSING A BUSINESS
When choosing a business to run you have two options: To sell a product or offer a service. For example you could sell health products or offer your services as a Plumber or Builder. Of course you would need to find customers who want health products or have a leaky tap that needs fixing.
People often turn their hobbies into a business. For example, if you were a good cook you could sell food to local people and build up a list of customers who loved that Chocolate Cream cake you made and want to stuff their faces with more :)
If you play a musical instrument you could give people lessons or if gardening is your hobby you could grow and sell plants. There are many ideas you can consider, although I have never found a way of making money from sitting down watching TV :)
SETTING UP YOUR BUSINESS
There are certain factors to consider when setting up your business. For example, how much to charge for your service or product? How much money can you afford to put into your business? Remember you need to be a Freedom Seeker and not a Freebie Seeker. You cannot expect to make a fortune overnight in your new business it takes time to build.
This guide concentrates on building a network marketing home business, which is where you actually work with an established company. The company offers the product and/or service while you simply refer customers to them. Once the customer makes a purchase the company ships their product to them and gives you a percentage of the sale a commission. This is by far the easiest home business to run as the company does most of the work regarding products.
HOME BUSINESS PROGRAM
A Home Business Program is a business that is already established and allows everyday people like you and me to work with them to earn money. The program supplies everything you need from advertising materials to training, along with a wide range of products. As these are Internet Based home business programs they also supply you with affiliate websites to show to your prospects.
Now hang on, there are two words here you may not recognise Affiliate and Prospect. Ok, an affiliate is someone who has signed up with a home business program and is now promoting their new business. Before that person signed up they were a prospect meaning they were someone who was interested in the program but had not joined yet.
The above applies to all business.
JOINING A PROGRAM
For this guide I am going to introduce you to a home business program that I make money from myself. They are called OSI and they have been in business for at least nine years. They sell a number of excellent products such as their IABHE course which offers everything you need to work from home.
As an affiliate (business member) of OSI you will receive your own marketing sites for their products which you can show to people. The URL for one of the products looks like this.
There are three parts to this URL, here is what they mean.
So when people click on this URL they will go straight to one of SFI Website pages - in this case the number 9106094 is the affiliate member ID is my own personal membership number which SFI gave to me. That number tells SFI that a prospect visited my Website i.e. SFI affiliate site. So if that prospect joins and upgrades by joining core business, I earn a commission. Nice, No?
Not only do I earn a commission on personal sales, I can also earn commission by building a team of people under me (known as a downline) and earn extra bonuses from their efforts.
The great thing about a Network Marketing Home Business is that you can build a downline team. You and your team can work together to build larger incomes. Here is an example of how this works.
Raj joins SFI and tells his friend Ram about it. Ram tells his friend Shayam. Ram joins SFI by going to Rajs affiliate website and is now a member of Rajs team. Ram sells a product for $30 and receives $10 commission. Shayam becomes his downline & Rajs downline as well. When Shayam buys a product of $ 30 both Raj & Ram get their commission.
A downline can be anything up to six or ten or any levels deep. That means that as each affiliate builds a team, they start on a new level and start to build that level with their new members. So for example...
Raj recruits 10 people and they are all on level one of his downline team. Ram also starts his team and they appear on level two. Shayam is one of Rams team on level 2 and he recruits people. They go into the third level downline. So this goes on until all six levels are full and the top affiliate of those six levels earns commission on all those six levels. Likewise, any affiliates under Ram earn him bonuses up to six levels deep.
Advertising can be used in many ways. A business card, an affiliate website, an email to friends etc. There are many companies on the internet which will advertise your products for a fee. Here is an advertisement for the EyeEarn Program.
WOW!! Get seen -- get paid!
You can now get paid to drive your car, wear T-shirts, and more! Just join the EyeEarn Advertising Network and start earning money effortlessly while you go about your day! It's fun, easy, and no experience is necessary!
We have seen that becoming a member of a business program gives you the title of Affiliate but what is a sponsor? Well a sponsor in Network Marketing terms is someone who is there to help you build your business other than the home business program people themselves. When you join a program, the person whose affiliate site you joined through is your sponsor. The sponsor is also known as an upline member.
If for example, you joined under me, I would become your sponsor. As your sponsor I will send you an e-mail welcoming you to SFI and offering my support to you, willing to answer any questions you have about the business. Your sponsor is someone who can help you get started in your business and advise you on what to do.
Sometimes you may join a business program and your sponsor does not bother to contact you, neither do they reply to your e-mails. In this case you can always send an e-mail to the support team of the program if you need help.
Many home business programs will do most of the work for you, leaving you with the job of recruiting...meaning that you have to get people to join your business. This is done with a number of methods: word of mouth, website submission, e-mail marketing etc. Your home business may supply you with pre-written advertisements you can use.
Some home business programs offer you a method of advertising known as Co-Op Marketing this is where the program itself recruits new members and shares them amongst any affiliate who purchases a share in the Co Op.
Another way of making money on the Internet is by reading e-mails. There are many companies that will pay you for reading e-mail advertisements from their customers. The pay is quite small but it can build up quite quickly, especially if you have a large downline team under you.
Here are few companies that pay to read e-mail advertisements:
If your chosen home business program does not have a Co-Op Marketing option or you prefer to recruit your own members then you have a number of methods to help you do it.
WORD OF MOUTH
Speaking to friends and family about your business is a good free way to advertise. Offering them a card and asking them to check out your affiliate website is a good idea because the website itself does the sales pitch. You must remember that some people you talk to will not be interested so it is best not to try and force it on them. You may also meet lazy people (Freebie Seekers) who want to make lots of money without working or people who tell you its all a scam or people who tell you that you'll never make it. Don't let this put you off, there are people out there who are willing to give the business a chance and are willing to work.
You could design a small A5 advertisement using a desktop publishing program and get a printing company to print off a few hundred of them for you. Then all you have to do is distribute them to people. You could post them through peoples doors, ask your local shop to display them on their counter offering a small fee in return, leave some in doctor's and dentist's surgeries...in fact, anywhere people will see them. Why not paste one on your car window for other drivers to see?
Many companies on the Internet offer to send your advertisement to their list of opportunity seekers. Prices can start from $3 for a hundred e-mails. Anyone who reads your advertisement can respond to it by clicking on the link to your affiliate website.
For e-mail bulk Ads you can use follwing safe lists:
PAID TO READ E-EMAIL
Some companies offer their members a small payment for reading adverts. Members can even build a downline team and earn more money. The member will get paid for viewing your website for a number of seconds.
A banner is a small rectangular bar which displays a small graphic and a one or two line advert. Some companies will display the banner on their websites and charge you for either the number of times displayed or for the number of times someone clicks on it.
image URL = http://traffichoopla.com/b/b3.jpg
image URL = http://traffichoopla.com/b/b3.jpg
Target URL = http://traffichoopla.com/cgi-bin/sp4.cgi/44586/
Target URL = http://traffichoopla.com/cgi-bin/sp4.cgi/44586/
Traffic Exchanges display your site to its members in return for you viewing other member's sites. Each time you view a site you earn credits which are used to display your website. You can purchase credits as well.
Advertising Companies are not guaranteed to get you members; they are only guaranteed to get people to view your website. People will only join your business if they are interested in what you have to offer. Not all advertising companies will give you a good service. It is a case of trial and error finding the good companies and separating them from the bad.
When you advertise, it is recommended to give yourself a budget. Many people make the mistake of spending a fortune on their credit cards buying advertising and end up building huge debts. Decide what you can afford to spend on your business each week/month and stick with that until you start to make money. You can then increase your budget if you wish.
Starting your own Internet Business and working from home is a real pleasure because it offers so many benefits. However it does take time to build and there will be times when you dont seem to be getting anywhere. Dont let this put you off because many millionaires who have made their fortune with Network Marketing have run into bad times where they dont seem to be earning any money. They became successful because they stuck with it. Remember, be a winner, not a whinger(complainer).
To Your Success
Rashmi Manohar Mattu
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Starting a home business is a very important decision, and there are some typical home business resources you will need to have in order for you to succeed. Home business resources are assets, services and systems you will need to make your home business run smoothly; and also other steps you will need to take to make sure that you will succeed with your business.
So, to start a successful home business, what resources and steps do you need to take?
1. A clearly laid out business plan. Without a business plan and goals to achieve, then you can not get anywhere. A business plan will map out what you need to succeed and how you will achieve your goals.
2. Good research. Whatever your business will need, you will need to be well informed about it. So you will need to do me research so that you become an expert on the niche, product or service. Knowledge about the business is an important home business resource, so you must do the necessary research to be well-informed about the industry or product/service.
3. A well set-up office. Your office is another important home business resource. You will need to be productive while working from home. You will therefore need an office that has all you will need to run a smooth business; a computer, printer, internet access, fax, telephone, business cards and a conducive work environment. A suitable desk and appropriate lighting in your office is also an important resource that is often underestimated in its importance. You will sometimes work for many hours in a day, and your work space needs to be comfortable. Allocate some money towards setting up a working environment you will enjoy working from everyday!
4. Some money to cover capital outlay and running costs is an important home business resource which you will need. Any business requires some form of investment, and you will need to know how much you have, and how much investments and ongoing marketing your business will need for it to succeed. It is therefore recommended that you start your business while you are still employed, so that you have some income to live on while you are still building your business.
5. Support system. This can be a mentor; someone who has succeeded with a similar business, or simply your family and friends. You need to have people close to you who will encourage you and give you any support you need. You can also join a forum of people with the same business like yours. A good support network is a very important home business resource.
6. Business leads and clients are a crucial home business resource. Making and creating contacts and networking is very important - you need to start building your potential clients base before you launch your business. Start marketing your business by giving away some products and services. By creating a relationship with your potential customers, you build trust with them, and when you launch your business, it will be easy for them to buy from you.
7. Be professional! The way you run your business and relate to your customers is very important. Be prepared to 'go the extra mile' with your customers. Care about your customers, and provide all the information they may need.
8. Hire any professional help you may need. Treat your business professionally, and if you need the services of a lawyer or accountant, hire/outsource it. It is more productive and effective to get experts to do what you can not do, leaving you time to focus on your business. You will want to do the best for your business; so if there are any home business resources you do not have, outsource them.
If you have the home business resources outlined above, then your business will succeed. Although your home business may only be a small venture, treat it like a real business, and get all the home business resources any business will need in order to be successful.
About the Author:
Hugo Fortin teach you how to build your own homebased business and Network Marketing leads. Sign up for his free newsletter here ===> http://www.ripcoldcalling.com
Rashmi Manohar Mattu
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