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Business Entrepreneurship Finding a Legitimate Home Business
| Finding a Legitimate Home Business |
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| Written by Laurice Egerton |
| Monday, 23 March 2009 07:16 |
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It's really not a great idea to start a business-statistically speaking. There are different numbers out there, but about 65% of businesses fail within the first year, and after three years, only about 29% are still running. So, as an entrepreneur, do you have any hope? There are many reasons people take the risk of starting their own business. *No cap on what you can make *Set your own hours *Work to make yourself rich rather than someone else *Do something you truly enjoy *Control your time and finances And, those dreams of a better life are enough to make millions of people a year try their hand at running their own business. I myself have tried several. I had marginal success with most and found that I was working more hours than it was worth. Perhaps if I had tried a little longer, it would have panned out, but the risk of putting more money and time into something that may not work made me bow out within the first two years. So, what are your best options? If you are a creative mind you can think of a niche in the market that hasnt been tapped, and find a place and the finances to succeed. If you dont have any original ideas or great amounts of money, a home business might be an option for you. Lets look at the statistics for home businesses in this country. * The number of home businesses lasting over a three year period is about 70% -much better than other business ventures. * The average income earned by home business owners is $63,000 a year. Not bad considering the average household income in America is $47,0000. * 20% of home businesses, according to Money magazine, had a yearly gross income of $100,000-$500,000 * 89% of people with household incomes over $80,000 have a home office. There are some refreshing statistics if you are considering a home business. Every 11 seconds, someone starts a home business. Approximately 9 million people will earn some type of income from home. The internet makes marketing outside of your "warm market" very doable. As for the economy, it has made home businesses seem more appealing as an extra source of income in times of little job security. As for the environment, it is estimated that this year workers staying off the roads will reduce CO2 emissions by at least 18 million kg. So, how does one go about finding a legitimate home business? Chances are, someone you know has already talked to you about one. The online information highway is full of them, but who can you trust? Here are a few guidelines: * You must find a company whose products you believe in. * Although Im not against MLMs, direct selling of products with a decent commission appeals to me. * Find out if there are any third party endorsements of the company. Dont just take someones work for it. * Consider the start up costs as compared to how long it will take you to earn a significant income. Some companies offer very low start up costs but you have to work for months or even years before it starts to really generate income. * Investigate hidden costs (advertising, monthly dues, having to buy a certain amount of product yourself) * How much time are you REALLY going to have to put in to make your income goal? Ask some new people, not the seasoned 6 figure earners who are hiring their dirty work out. * Be leery of companies that want you to talk to your family and friends about your new business to generate potential customers. This almost never works. People today are bombarded with new opportunities, and its hard for most people to talk to others they know without coming across as a user. All of this being said, there are incredible opportunities out there, and if it is what you want, you shouldn't be afraid to look. It is the way of the future. Just do your due diligence before you jump in head first! From one dreamer to another, I really do wish you the best! About the Author: Click here now to learn what legitimate home businesss finally panned out for this ex-teacher Kindly provided by MoneyHunter.org You are welcome to use this article on your own website, if you include the link just before this text. |
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