How To Start A Home Based Business With No Time!
Starting any new business can be costly so how can you actually start your one home-based business with no money?
It's the dream of many, to have their own business, fire their boss and live life on their terms. But how can you actually do this with breaking the bank? Or having to spend all your time doing it?
Firstly, you are going to need to come up with a business idea that you can reasonably start at home. Some ideas could include, virtual PA, website design, or online coaching of a skill you have. However, when I was taking a serious look at the home-based business I now have, one thing I knew I wanted was a passive income.
A passive income is an income that is not connected to time. So for example, if you chose to sell website design, and you charged £30 per hour as a design fee, you will only earn money when you are actually working. Whereas if you decided to offer a pay monthly website design service for £30 a month, this money will continue to come in whether or not you are actually working on the website design. It's worth noting that this way may mean that at first you earn less money but the potential is there to make a lot more money from the same product.
And one thing that is even better than a passive income is a leverage passive income. This is an income that you earn, from the efforts of others. Using the website design service idea, a leveraged passive income would be if I found a group of web designers who were willing to build the website for £20 a month, and you continued to charge the customers £30 a month, meaning you would be making £10 a month, and you could build that as big as you wanted because you wouldn't actually ever have to build the website... someone else is doing that part for you!
However, it's fair to say that it could be tough to actually get a website design business off the ground, especially if website design isn't something you have ever done. As can starting any business from scratch be!
However, another option of starting a home-based business is to choose a business that is already up and running. There are many options for this, including traditional franchising, network marketing and affiliate marketing.
Of these business models, network marketing is my personal favourite. This is because most network marketing companies are very low cost to join, and they usually come with training to actually help you make a success of it. And the business model is based completely on building a leveraged passive income because your time isn't directly tied to your income, and you can build a team of people who also want to run their own home-based business, earning a small percentage of their sales as well.
Another business model that can be quick and easy to start from home is affiliate marketing. One of the best training platforms for this is HEAL as it includes professional training to get you started, with a done for you affiliate scheme including professional capture pages, email campaigns and ascension offers.
But whatever home based business you choose to start, if I could give you any advice it would be this, keep it simple, be consistent in your effort and take it seriously.
Earning money from your sofa doesn't have to be a distant dream, it has every potential of being a reality but you have to act to make it happen.
If you want a guide on your home business journey, then why not consider working with me!