I found this great article today by Cleve Pike and I wanted to share it with you. He explains the process of deciding what would be a good way to pick your Home Based Business. In what field or market should you start your business? Should you pick something you like or something that has a higher money making potential but you may not know much about it? It’s not an easy decision. Check out the article and discover what is the process of thinking about the best way to find the business that is going to bring you time and financial freedom.
In case you didn’t know, the home based business opportunities segment is absolutely on fire right now! Given the fact that the United States economy has taken its worst down-turn in a generation, an ever increasing amount of people of all ages are turning to the home based business industry to “BEAT” these financially hard times.
While there are many different types of home based opportunities out there, some are most definitely be better than others. For most people, when they begin to think about starting their own home based business or what type of business to start, their thoughts seem to point them in two basic directions.
- What type of home business am I best suited for or would I enjoy doing ?
- What type of home business can I make the most money with?
So, with these two basic thoughts in mind, what kind of home based business should you start?
Well, let’s get a little more specific. Are you more interested in starting a home based business that is in line with your current area of expertise and involves something that you currently enjoy or love doing? Or are you willing to learn whatever it takes to become successful in an industry that you are unfamiliar with, don’t know if you would “love” or not (notice the use of the word love), but provides you with more upside or potential to make the large profits you desire?
As an example, let’s say you decide to start a home business selling, installing and supporting a third-party accounting software program (I don’t expect you to develop the software yourself) because you are a part-time book keeper and you feel “comfortable” doing so because you have a certain amount of expertise in the field. But all of the sudden you think to yourself “the economy stinks right now and I’m not sure when it will turn around, businesses that would need my services are laying off employees left and right, and their budgets are becoming more and more restrained. Would they really buy my product and my service?”
Remember, the real reason you wanted to start your own home based business in the first place was so that you could “make some money” right! What are the chances of your new venture becoming successful given the state of the economy and your limited knowledge of starting your own business? Chances are, you may be thinking of starting a business that could be doomed to fail before it even gets off the ground.
Now, let’s say you decide to start your own home based business but you’re not quite sure what type of business to start. You know that you could find some opportunities somewhere that suit your skills, but you’re also open to learning new skills to develop a successful company of your own.
After you do a little research (like you are doing right now), you find out that the health and wellness industry is the fastest growing segment in the world today. But wait a minute, you’re not a nurse or physical therapist, you’re a diesel mechanic or a checker at the local grocery store. How are you going to start a home business that is associated with the booming health and wellness industry when you know absolutely nothing about the subject? Let me tell you something, twenty years of business experience has taught me that a good idea, in a booming industry is better than a great idea in a declining or average industry; experience or no experience! And there are certainly opportunities and industries out there that will allow you to get involved in great, booming markets and still allow you to grow and develop along with your business.
So what is my advice? Well, as you might have guessed, you should really consider what type of business will give you the highest chance of becoming a successful entrepreneur. Take your shot, commit yourself to some personal development and over time, learn the skills you need to acquire to become successful in the business that provides you the greatest opportunity to create wealth and one that you could “learn to love”, in this example, the health and wellness industry.
Now I’m not saying that whatever your passion is at this moment wouldn’t be a good home based business opportunity to explore. And I’m not saying that the idea of starting a business in an industry that you love is a bad idea. I’m just saying that you may be better off going with something you could develop a passion for over time, AND make the kind of income you wanted to make by starting your own business in the first place. Then, you can spend your free time doing those things that you love!
In closing, there are of course many other pieces to the puzzle to consider and discuss but… let’s leave that for another day.
bestwebtutor.com, Home Based Business Opportunities – What kind of home based business should you start?, Jul 2009
You should read the whole article. If you want to know more about how ot start your Home Based Business in the Health and Wellness Industry as Cleve mention it, [intlink id="9" type="page"]send me a note[/intlink] with your phone number and it would be my pleasure to talk to you and answer your questions.
To Your Success,
{ 12 comments… read them below or add one }
very nice! I always wanted to find something like this .
Thank you!
very nice! I always wanted to find something like this .
Thank you!
Starting your own business may sound like a lot of fun but there are many things that you need to take into consideration before you start a business of your own. Most businesses fail not because of a lack of money, but because a lack of planning.
Saratoga springs
Starting your own business may sound like a lot of fun but there are many things that you need to take into consideration before you start a business of your own. Most businesses fail not because of a lack of money, but because a lack of planning.
Saratoga springs
One of the biggest problems is that people who ask this question are those that have destined themselves to fail – mainly because they miss one important entrepreneurial skill – passion! They are invariably looking for a business that will make them a lot of money for very little effort.
bill shor
Hi Bill, this is very true. The one thing that I have learned is that for any business to be successful, the business owner need to have a strong “WHY”. Why do this business? If the “why” is only “make money” it is not going to work. The “why” has to be emotion driven.
One of the biggest problems is that people who ask this question are those that have destined themselves to fail – mainly because they miss one important entrepreneurial skill – passion! They are invariably looking for a business that will make them a lot of money for very little effort.
bill shor
Hi Bill, this is very true. The one thing that I have learned is that for any business to be successful, the business owner need to have a strong “WHY”. Why do this business? If the “why” is only “make money” it is not going to work. The “why” has to be emotion driven.
Nice Post…Well recommended to all the readers who are looking around how to start Work from home. Thanks for sharing some really information.
Hi Carl, thanks for the note. I am trying to give the best information possible. If there is something you would like me to talk about, let me know
Nice Post…Well recommended to all the readers who are looking around how to start Work from home. Thanks for sharing some really information.
Hi Carl, thanks for the note. I am trying to give the best information possible. If there is something you would like me to talk about, let me know
{ 16 trackbacks }