Archive for the 'Home Based Business' category

5 Factors to Consider When Starting a Home Based Business

Apr 01 2018 Published by under Home Based Business

More and more people are starting to run a home based business for a wide range of reasons. A major positive of this type of work environment is the ability to avoid the cost of rent for a separate office space or having to spend several hours at the start and end of the day commuting to and from a traditional office. However, there are many different things that need to be considered before starting up a home based business.

Let’s take a look at five of the major points related to starting your home based business:

Compliance

A basic requirement is to conduct a little research to learn the laws, rules and regulations that apply to setting up the home based business. The regulations will differ with the different industries and certain to be stricter for a business involved in food preparation compared to web design or similar office based activities. The standard requirements include issues related to safety, licensing and registration. It is essential to check the rules specific to your business industry to avoid any problems with the authorities in the future.

Scope

Many businesses will begin as a small venture and slowly expand over time when they start to see increased brand exposure, more clients, and more money to invest. When first planning the home based business, it is worth putting together a detailed business plan that outlines the future growth of the business, and details how to expand your venture and the time-frame for the different stages of growth. Also, the particular service or product offered is certain to have a major influence on the future scope and success of a business.

Finances

The type of home based business will determine the amount of capital needed to get up and running. This type of business does have the advantage of cutting out the cost of renting or leasing a property because you intend to use your home. However, it is still necessary to have sufficient funds to cover all other business expenses. Related costs may include professional services like accountants, office equipment, production supplies, inventory, licensing and marketing.

Storage space

Any home based business involved in selling physical products is certain to need a decent amount of storage space for not only holding the actual inventory, but also space to prepare and pack the items before shipping.

Marketing

A well planned marketing strategy is essential to see a business succeed. With no physical presence, such as a storefront to bring in the customers, you must look at the most effective options to market your brand and business. There are plenty of marketing techniques that can be used. It is simply a case of finding the most effective ones for your business, and using those that are affordable.

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Why Trading As a Home Business Is the Best Option

Apr 01 2018 Published by under Home Based Business

At one point or another, we all dreamed of leaving our 9-5 job to have our own business. I had 2 very successful business in my lifetime. One as a college student selling handbags and women’s accessories, which led me to leave college because I was making more doing that business than I would graduating from college. The second business was owning and distributing coin-operated video games. I started that business after a very successful US Federal Government career that took me all the way to Washington DC. Even with all the success that I had as a Budget Director at the Secretary’s level, I still believe that nothing compares to running your own business.

Both my businesses relied on customer acquisition. Without customers, there was no business. That is true with any business that relies on selling services or products.

Online businesses are no different. Whether you run a blog or have a Shopify account or sell through Amazon or eBay, you will need customers. You may read about SEO rankings, Pay Per Cick ads, or Google AdSense among others. You may also want to try to acquire customers through YouTube, Facebook, Pinterest, Instagram, or any other of the many social media outlets available today. Whichever way you decide to promote your business, you will need customers not only to “follow” you, but, more importantly, to buy your product(s).

Hence, enter trading as a home business. With trading, all you need is to do is learn and master a set of skills. You don’t need to rely on social media or Pay Per Clicks to make your money. All you need to do is rely on your ability to make money trading by following some simple rules.

Trading has never been easier than it is today. Computers have taken some of the mystique of trading away. There are many automated solutions available today that can make even the most inexperienced trader a successful trader if they follow the simple rules outlined by the software. There are even fully automated software aka robots aka Expert Advisors that will execute your trades for you making trading a totally hands-free business.

Forex has the biggest number of automated solutions in the market today. For that reason, these solutions are available at much lower prices ($200-$600) than their counterparts in the stock, e-minis, and commodity markets. When you consider the cost of just setting up a website for your business versus the cost of an Expert Advisor in Forex, to me the choice was not only obvious, but easy. The added benefit is that after acquiring your Expert Advisor(s), you don’t have to worry about acquiring customers to start making profits, but rather immediately start making profits instead.

As a business owner, I can say that trading is, without a doubt, a more appealing option to me. I now work/trade to live instead of live to work. I love spending time with my family and being able to trade/do my business from anywhere in the world. Through trading, me and my family are living the life we dreamed off a few years back. You can live that life too.

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