Your Internet Home Based Business – Tips On How to Set Up One

Setting up an Internet home based business is like starting an actual business. Some people may think that since a business is operated online and from home, it is a smaller-scale venture compared to real businesses. This, however, is a misconception. Some Internet home based business are even bigger and are experiencing more growth than real ones. Starting and operating an online business venture may be a bit challenging when you are new to the field and is used to the conventional business and marketing world. However, there are also many resources on the Internet that you can get your hands on in the actual setting. The difference lies on how you take advantage of these unique Internet resources and make them work for you. Here are some tips on how you can successfully set up your Internet home based business.

PLAN AND SET GOALS

As in any business venture, the key to a successful Internet home based business is to plan. Set goals; determine what you want your business to achieve, and prepare concrete action plans on how you will achieve your business goals. Plan what you are going to need, in terms of investment and tools. In terms of investment, you might need to upgrade your computer for a better one, or you might need to purchase another computer to sustain your business operations. The investment requirements will differ based on the nature of your Internet home based business. In terms of tools, since there are a lot of resources available to you on the Internet, plan which resources can help your business. Do you need to set up a blog site, or join forums to advertise your site? If so, in what way should you advertise? These are just some of the things you should already lay out in detail before you even get started.

PUT YOURSELF OUT THERE

Once your Internet home based business is under way, the next thing you need to do is to advertise! There are plenty of ways to advertise on the Internet. You can set up a blog and write articles about your products. You can join forums and post website ads in various sites that your target customers often visit. You can exchange links with other sites to drive traffic to yours. You can post pictures and videos of your products on your site, your blog, and in forums. Also, master the art of search engine optimization to lure people to your website, and thus, to your product. The more visitors you get, the more potential customers you have!

BUILD A CUSTOMER BASE

Just as any actual business will not succeed without a loyal customer base, you also have to build a customer base for your Internet home based business. It is important to build a relationship with those who transact business from you. Chances are that they can even bring in more customers because of their contacts. Social networking is yet another concept that is very popular on the Web, and it will pay to take advantage of the social networking sites and communities online. There are a lot of social networking sites on the Web, such as Facebook and Myspace, which can help increase your customer base. When you have a loyal customer base, coupled with a social network that continues to bring in more and more customers, your Internet home based business will be unstoppable!

The arena where your Internet home based business will perform in may be different from the conventional marketing world, but the same rules applies. No business will be successful without careful planning, focused goals, a loyal customer base, and a source of customers. Don’t make the mistake of thinking that once you put your business on the Internet, it will grow on its own. The Internet is as wide as the world we live in, and your Internet home based business will only be successful if you’re ready for a challenge.

How To Turn Your Home Business Start-Up Into An Instant Cash Cow

Thousands of new home businesses start in North America every day, many of which never see their fifth anniversary.

With a 90 percent failure rate in the first five years, most hopeful entrepreneurs wind up feeling discouraged and beaten, thinking they don’t have what it takes to make their dream of home business come true.

One of the biggest reasons home businesses fail is because the new entrepreneur not only lacks the required marketing and sales skills, but chooses a business with a tremendous learning curve.

The energy, time and financial commitment required is significant because everything is new and undeveloped. Overwhelm and confusion set in, mistakes accumulate, frustration grows and finances dwindle as you work your way through the steep learning process.

If you are new to or considering a home business, you can flatten the learning curve and start generating income immediately by beginning with something you are already good to great at.

For example, let’s say your dream business is a nursery.

You love gardening and have significant knowledge on plants, their ideal growing conditions and landscape design. You have acreage and want to build two domes to grow plants to sell.

Let’s also assume that you work full-time as a teacher and have little to no business experience. You would need to learn about sales, marketing, financial statements, horticulture, hydroponics systems, taxation, legalities, and a host of other things.

The faulty mindset many new entrepreneurs have is the “build it and they will come” mentality and this is where the trouble begins. Money is first invested in the physical creation of the business, and then the business owner starts to work on developing her skills and building the business.

By this time, significant time and money has already been spent while no cash flow or client base has been created. The business owner is pressed to start bringing in business to cover her monthly operating expenses and start-up investment.

Although the impulse is to build a professional looking business up front then trying to fill it with customers, the simplest and most successful approach to building your business is to start with the basic strategy of putting to use the skills you already have.

What are you already good to great at that you can start with today?

Let’s say your existing skill sets are:

- teaching
- gardening and designing friends and neighbors yards
- knowledge of the plants specific to your area and their best growing conditions
- knowing what plants complement each other and those that repel each other

With these skill sets, you can start your business immediately without any significant investment. Here’s how:

- approach a local nursery and ask them if you can volunteer several hours a week or work-part time for them (either way, you have to invest time learning about the business of running a nursery, so why not get paid for it or at the very least, volunteer and get yourself known as a plant expert)

- ask the nursery if you could offer classes to their customers and split the profits

- place posters around town announcing your landscape design service and get your friends to refer you to others

- have a local newspaper reporter feature you and your beautiful backyard in the “Society/People” or “Home and Decoration” section of your paper

- suggest a joint venture relationship with one of your local nurseries. You will refer your landscape design clients to them to purchase plants if they promote your design service. (I paid such a person $75 an hour to visit my home and help me design my yard. I also purchased my plants from the nursery she recommended because I received special pricing for using her services.)

- join your local gardening club or horticultural society

- buy plants from your gardening club colleagues and sell them at a profit

Can you see how this approach would give you a much stronger foundation to build from and increased start-up capital? Your amount of risk and overwhelm would be greatly reduced and your business education would begin immediately.

When you’re ready to pursue your ultimate dream of starting your own nursery, you will have revenue already coming in, an established client base, recognition as an expert in your field, and some business skills and experience under your belt.

Now, let’s apply this to YOUR home business dream.

As you contemplate your new business endeavor, list the skills you currently possess and begin with what you have. Start bringing in cash immediately and let it finance your ultimate dream and education.

Real Estate Investing For Mid-Term Profits

Just as short-term and long-term real estate profit goals tend to lend themselves to specific types of opportunities, so do mid-term investments. Fort most real estate entrepreneurs, “mid-term” investments generally last between 2 to 5 years. This period provides adequate time to for appropriate property investments to fully mature. The ability to take the requisite time is necessary to fully reap the profit potential of certain properties and investment types. The most common investments for this time range include:

  1. Subdividing land. This is the process of purchasing raw land and facilitating the process to legally create a number of smaller parcels from one larger tract. In addition, this process includes the appropriate change of zoning to allow for a higher demand for the parcels and consequently the profit generated from the sales of the land.
  2. Developing land. Development requires the engineering, infrastructure placement and construction of certain elements. By stubbing utilities to individual lots and building in sewer, runoff and typically roads, curbs and gutters, etc. a developer is able to add value to the subdivided land once again increasing its demand, functionality and marketability. Typically, but not always, subdivision and development are done simultaneously.
  3. Re-developing existing properties. Redevelopment is the process of purchasing property currently used for one purpose and then facilitating its use for another purpose, thus achieving highest and best use. For example the purchase of a single family home on a lot large enough to hold multiple units. In a case like this the existing property would be razed and higher density units built. This is often done when adjoining properties are purchased, combined and used for the build out. It is necessary to have proper zoning available to the land in question.
  4. Conversion. Conversion is the process of changing the ownership makeup of a property from one type of ownership to another and then selling the parts/units of the property. You will recognize this as condominium conversion. Don’t forget that this type of conversion can be done with residential, commercial, retail, light industrial, warehouse property etc. Don’t limit your search for appropriate properties just to apartments.
  5. Build outs. The opportunity to purchase a large foot print property, then partition it, or build it out, for multi-tenant use provides an outlet for large properties that have outlived their usefulness in the original form, but have utility for individuals or businesses who need smaller space. This is often done with warehouses, big box structures, large commercial and retail spaces.
  6. Purchase, revenue development and sale. As you know, if you can buy a property that is under rented, increase the ordinary operating income without increasing the traditional operating expenses, you will increase your NOI. With an increased NOI, the value of the property will be increased. It is important that you assess this potential carefully and include the costs of lending and holding time.

That’s a boat load of information and opportunity in one short space. Still, I hope it generates some thought and research on your part that will in turn produce opportunities to meet your goals with real estate. While there other investments that might also fit into this time frame, those mentioned are the most common and traditionally the most profitable. Good luck in your career.