Do You Have an Internet Home Based Business Idea?

Now that you have had that internet home based business idea and have decided to start a business from home, selecting the right business opportunities is as easy as 1-2-3, well maybe 1-2-3-4!

1. Decide to Market a “Consumable” product

When trying to decide which internet home based business idea you should develop, just think about this for a minute – every time anyone gets out of bed each day and goes to work, someone makes money. Every time you pick up the telephone, someone makes money. Every time you eat, turn on the water, start your car, use a bar of soap, or get a haircut, or go on a vacation, someone makes money. Imagine transactions of hundreds or even thousands of dollars and also millions of $3 or $4 sales several times a month, year after year, after year.

The ideal internet home based business idea which develops into a turnkey home business is one that markets consumable products or services in such a way that after your initial effort is done; repeat orders, sales and commissions come to you for that effort on a continuing basis.

2. Be ahead of the major Market Trends

A “Market Trend” is really an economic movement, meaning that large masses of people’s spending habits are moving in a uniform direction. The effect the baby-boomers have had and will have for years to come on the American economy is a good example.

One leading economist likened the effect the baby-boomers have had on the economy since birth to a basketball running through a garden hose! That fact along can be a major factor in generating profitable home based businesses and should certainly be considered when developing our internet home based business idea.

When developing our internet home based business idea, the question we must ask ourselves is: Are we positioned in front of the basketball or behind it?

History shows that those who identify these trends early, and are able to meet the needs of these trends, are able to create abundant wealth for themselves. In essence, they get in front of an economic wave and ride it to financial freedom!

The key is timing. Get in front of the wave and take the ride of a lifetime.

Current research shows, that what most people want out of life is feeding the current market trends and should be considered in your internet home based business idea:

1. Owning Their Own Business

2. Having Tax Advantages

3. Being Financially Independent

4. Being Healthy

5. Being more environmentally conscious

6. Having A Rewarding Career

7. Owning Their Own Healthy Home

8. Looking & Feeling Younger

9. Losing Weight

10. Traveling

11. Improving Their Lifestyle

12. Personal Development Training and Support

Mega-Trends

These are the wants and needs of some very large consumer groups. In fact, some very large trends are gathering momentum as you read this. They are so large that they can accurately be called “Mega-Trends”.

One of the mega trends is in the area of Health and Wellness- An Internet Home Based Business Idea Because of the economic influence of the Baby-Boomers, economists are predicting that this industry will be the next Trillion dollar industry within the next ten years. Paul Zane Pilzer, an internationally known author, college professor and economic advisor to two presidents, predicts that there will be 10 million new millionaires in the Health and Wellness internet home based Network Marketing industry within the next 10 years. Now that could be a basis for an internet home based business idea!

I guess the question we need to ask ourselves is: Will we be one of them?

Another of those trends is in Travel – an Internet Home Based Business Idea and recreation. Some estimate this industry to be 7 trillion worldwide with expectations to double within the next 6 or 7 years which is over 20% faster than the US economy. Other experts estimate that travel in the US along exceeds 1.3 trillion.

I have read that there are more cruise ships to be built within the next 5 years than in the previous 45 years total. Baby-boomers are swarming to the luxury resorts around the world and this activity is expected to increase as the boomers experience the inheritance of their parent’s money and also begin to draw on their own retirement plans.

With the baby boomers currently retiring at the rate of about 1 per second and increasing, increase in travel could very well be the largest mega-trend we will experience in our lifetime!

The combination of these Mega-Trends is causing one of the most explosive economic waves in history. Now there is another potential internet home based business idea! All Wealth is first created in the Mind and then transformed into reality by the application of known Principles! – Think and Grow Rich! – Napoleon Hill

3. Leverage your time

Leverage, through the process of duplication and multiplication, allows us as entrepreneurs to develop a successful internet home based business idea, part-time, around our busy lifestyle. In essence, leveraging our time allows us to get more done in a shorter period of time with less effort. This concept applied in your home based business means you can accomplish more than you could normally accomplish on your own.

When effectively incorporated into an internet home based business idea, computer and internet technology can multiply leverage thousands of times. That means in the right system, networking and internet technology can do the work of thousands of people, and you get paid on that work! Imagine developing a business part-time, which can grow to a full time career, that wouldn’t interrupt your present circumstances, and provides you a flow of income while you spend time with your family, travel, go to the beach, or even sleep! That’s the power of leverage.

4. Market Selection

Before choosing the right internet home based business idea, one must first identify the fastest growing industries as well as the most profitable home based businesses. Some of the fastest growing industries today are:

Greeting Card Industry – 7 billion greeting cards are purchased every year. Annual retail sales of greeting cards are estimated at more than $7.5 billion. Nine out of every ten households purchase greeting cards each year.

Working From Home – $401 Billion Dollar Industry.

Internet Marketing – exceeds $523 Billion according to a study done by the McCombs School of Business and is expected to reach 7 Trillion within the next 3 years.

Mail Order Marketing – $350 Billion Dollar Industry and growing.

Wellness Industry – $200 Billion Dollar Industry and expected to reach $1 Trillion within 10 years.

Nutrition Industry – $4.2 Billion Dollar Industry and exploding.

Weight Control Industry – $33 Billion Dollar Industry fueled by epidemic size obesity levels. An estimated 70% of the U.S. population needs to lose 10 – 50 pounds.

Personal Care Industry – $72 Billion Dollar Industry.

Cosmetics Industry – 8 Billion Dollar Industry – and steadily growing.

Travel and Vacation – $860 Billion and growing.

When developing an internet home based business idea into profitable home based businesses, it is not necessary to pick an industry which we already have an affinity for, although it certainly is desirable. However, as you will see in upcoming pages, if you have the Desire to build a business and new lifestyle, there is a fit for you out there. Again, the challenge is to select the right business and company when you start a business from home.

Not only should the market and marketing concept fit you, but in order for a business to be real it must have the right: Product, Market, Timing, Management, Company, Compensation, and Benefits and Rewards.

We should not look for get-rich schemes! If you are serious about your goals of personal development and building a long-term residual income and work diligently towards goals you will succeed.

Home Sweet Business From Home – Contemplating the Idea?

Dollars earned working from home sweet home. Sweet idea indeed.

More than ever before the idea of starting and managing a business from the warmth of your own home sweet home appeals to the subconscious entrepreneurial minds of the everyday average people. The sweet and total gratifying thought of being able to earn those home dollars working from home, inside what many consider their own and last refuge, pampered by familiar surroundings, and satisfying the ever present and increasing need of spending more time with loved ones, away from traffic jams, demanding bosses and tight schedules is pushing, almost obligating, these people to dig and dive, in a seemingly desperate manner, into their own reservoirs of ideas, natural or acquired skills, or even the occasional hobby, and turning them into home sweet based business.

These entrepreneurs continuously are trying to come up with new magical applications of all these ideas to convert them into those wish upon home business dollars. While the intention of these self-made entrepreneurs is to organize, operate and normally take the full risk in such business ventures, expecting to gain the home sweet profits on a continuous and expanding business activity, the reality is that all of these wishful ideas are most of the times not acted (up) on, and are instead accommodated in the waiting room of their minds, most frequently not because the Do Not Want To, but because the Do Not Know How.

It is in this unknown twilight zone that the home worker has to be very careful since there are a lot of scams out there that could potentially take out the Sweet from the Home, and in the process destroy the sweet dream of enjoying the independence of being your own boss.Every home based entrepreneur should proceed with extreme caution and do a little bit of homework before embarking blindly in the first idea or sales pitch that passes by. It’s strongly encouraged to search for work from home ideas and opportunities that have been tested and proven, have passed an intensive screening process and are above all legitimate. It is also believed and preached by many in the industry that you’ll better have multiple automated streams of residual income to make it in this business.

Please be also advised that a home based business could be not for everyone. For many people it will be only seen as a mere supplemental income source for retirement or a momentarily extra income for the family, but not as a home based business.

In fact, in a recent survey published by the SBA only 46 percent of home based and micro business owners cited that making lots of money was a motivation for starting their own business. Seventy eight percent of business owners stated that having more control over their lives was the most important reason, and 90 percent said they would go into business again.

So, even though you may not get your home dollars from such an endeavor, it may be worth the effort to try your home business idea out to see if it would be successful.

Remember if you are a home based entrepreneur working for your own, with a justifiable dream of becoming financially independent, you may not see a profit right away, it all will strongly dependent on the type of effort you put into your own home sweet home business.

How to Sell a Home in Any Market

When learning how to sell a home in any market, especially a down market, it requires the home seller to stop thinking like a seller and start acting like a buyer.  I know it can be hard because they have certain expectations, needs and wants when selling. The reality is, though, a buyer simply doesn’t care what they expect, need or want.

In any event, the key to selling a home in any market is price and position.  Let’s say that Jack and Diane are looking to buy a home.  As of today we’ll say they looked at 37 properties in their target area with a price range between $250,000 and $300,000, give or take.

As expected, some of the homes were really nice and some, well, not so nice.

Just by default, out of the 37 homes, one property would be the best; one would be the worst and the remaining 35 fall somewhere between second and thirty sixth. 

Are you with me so far? Ok, great. Now, let me exaggerate here just for illustration purposes only.

Let’s pretend that one of the homes Jack and Diane looked at was only a single dollar; yes, only a single dollar. We’ll also pretend the house needs some work but it’s mostly cosmetic.  Well, no doubt, this home is the best positioned home on the market, even if it was in the worst shape of all 37.

So Jack and Diane give a full price offer of one dollar, the offer is accepted, and they now have a nice new home, completely paid for, in a neighborhood of homes priced around $250,000-$300,000.

I know this is an exaggeration but let’s continue.

What if the one dollar home was priced at a thousand dollars; a thousand times more than a dollar?  Right, Jack and Diane would have bought the house.

What if the home was priced at $100,000?  In a $250,000-$300,000 neighborhood you can bet they’d get full price in a split second.

Sure, a normal home seller wouldn’t sell their home for that low, I’ll agree. But the process is still the same. 

What if the home was priced at $200,000? While not as good as the one dollar deal, it’s still below neighborhood values.

If the one dollar house was priced at $250,000 all bets are off.  Out of the thirty seven other homes there very well could be a home better positioned. 

Maybe Jack and Diane thought another home priced at $260,000 was better positioned (even though it is priced higher) because it didn’t need any cosmetic work at all.  Everything is perfect the way it is.

The point being is, when a buyer looks at a home they are going to only make an offer on the house they feel is the best positioned compared to all other homes they’ve seen.

So how do you sell a home in any market? 

Simple.

Start thinking like a buyer and set appointments to look at all the homes you’re competing with. It shouldn’t take more than 10 minutes per home.  When you are completed with this step you simply compare your home to what you’ve seen and set the price that puts yourself in the number one position.

If your home sells in a few days then you know it was properly positioned. However, if another home you’re competing with sells first then you made a mistake.  For whatever reason, the buyer thought the other home was better positioned.

Once your home is the best positioned, in a buyer’s mind, it’ll be the next one to sell.

In summary, learning how to sell a home in any market is not difficult.  After all, no matter how bad things get homes still sell every day of the week.  By understanding things from a buyer’s point of view and understanding the concept of positioning, you’ll be sure to be the next home sold.