Starting a Home Based Business: Service or Product?

Much of the time your business idea will determine whether your business is product- or service-oriented. The following questions are those a potential home based business owner should consider when either deciding on a business type or, after deciding, when planning a course of action to get from the initial idea to an operable company.

Product:

1. Do you need to create the product in advance or on an on-order basis?
2. If in advance, do you have a place to store the product once it is designed?
3. If per order, do you have enough time to devote to the manufacturing of the product if you obtain a large order at one time?
4. Where will you purchase the materials needed to create your product?
5. Who will produce your product? Can it be done at home, or will it have to be sent to another company; and if the latter, have you spoken to a variety of companies for an idea of cost and time?
6. If you will produce the order at home, do you have the necessary space and equipment to do so?
7. How much is needed to invest up front for manufacturing costs?
8. Do you have this money saved?
9. Where will you sell the item(s)?
10. Who are your competitors –- local and global?
11. Are you comfortable selling products?

Service:

1. Where will you perform the service: in the home, on the road, or at another location?
2. If at home, do you have the appropriate space?
3. If on the road, such as one might with a traveling spa, pet grooming, or personal trainer business, do you have reliable transportation and the equipment needed to go from one location to the next?
4. Do you have the equipment needed to perform the service? This might include equipment specific to the business, such as hair styling tools, as well as equipment needed to operate a company, like a computer, fax machine, and separate phone line.
5. If not, do you have money set aside to purchase the equipment?
6. Will you price per hour or per project?
7. Do you know what competitors charge for similar services?
8. Who are your competitors?
9. Many service providers have to work ‘off’ hours, such as nights and weekends. Is this okay?

Source
By : Kathy Murdock

Disadvantages of Home-based business / work from home business

Disadvantages of a home-based business include needing to know a lot of information to operate a business successfully; the risk involved in operating a business; conflict in ownership of time (When is it my "own" time and when is "business" time?); lack of guaranteed employee fringe benefits; many competing roles and responsibilities (producer, promoter, bill collector, customer service representative); lack of job security; loss of home space use by family; interruptions; lack of self-discipline; little opportunity to delegate tasks to others; long hard hours, and legal requirements including zoning regulations. Being committed to a business may mean lack of freedom to do other things and to go as you please.

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Start internet home business by joining affiliate programs

Start internet home business by joining affiliate programs. You can then sell the affiliate products and services from your own website or through emails.

Affiliate programs are setup by merchants to allow others to sell their offers. Amazon.com was one of the first affiliate programs I ever encountered online. Now millions of affiliates sell their books and other items worldwide. Clickbank.com is one of the best resources for affiliate programs. More details on products at clickbank

For every sale you make, you get a cut of the payment. This can be upto 75% with some products, usually digital products like ebooks or downloadable software, games, music etc.

Affiliate Marketing as Home based Business

Start Your Own Home-Based Affiliate Marketing Business With Super Affiliate Rosalind Gardners Expert Guidance! Topics Include Blogging, Market Research, Affiliate Programs, Web Design, Problem Avoidance And So Much More! Updated Completely For 2007. Read more

What is Affiliate Marketing?

In a nutshell, affiliate marketing is an arrangement between an online merchant and affiliate (you), in which the affiliate earns a commission for generating sales, leads and/or clicks for the merchant's web site.

For example, many credit card companies will pay you between $5 and $20 in commission for each visitor that you send to their site who completes a credit card application, and up to $55 for those whose applications are approved. Read more

Learn To Start Your Home Business.

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Work at Home - How to Detect Data Entry Scams

Data Entry Scams and how to tell if it's legit.

How many have seen data entry jobs online where many scandalist states you can make $100-$500/ day working from home just typing away?

Let me tell you, there are a lot out there that claims you can make a ton of money just typing from only with only an hour or two of work each day. I fell for their scam when I first research into working at home and starting my own online business.

I’ve paid quite a lot of money just to find out that the information that they send out are companies who actually hires home typist at no cost. Even some of those companies are good for nothing. They take a long time to pay you and some don’t even pay at all. Just look at it this way, if you were the owner of a certain corporation, would you hire someone thousands of miles away converting crucial paper data into digital? Who would in their right mind send crucial data across the country to someone who they haven’t even met or interviewed?

Its true online data entry exists, but those that are legitimate are those that are locally in your hometown. Don’t fall for those offers that are low cost for the information that they’ll send you, because they should not cost you anything. Investigate before you make any investment in what you want to do. In other words, don’t be like me when I first started. Working from home is hard to start up and takes a lot of effort and you have to be passionate about what you want to do. It’s requires a lot of self motivation and knowledge. Even though there courses out there that you can take for free that show you show to start, online business requires constant education and continuous efforts.For beginners, at my blog there are some useful articles on starting up your online business. Choose your online business wisely and with guidance. Visit Online Business Opportunity

Article written by Cyrus Nguyen, owner of Online Business Opportunity

Determine how much time you can spend on the home based business

Many people start a home business on a part-time basis while raising children or working outside the home. Others start full-time when family and finances allow. However you begin, figure out how may hours per week you can devote to the business Make a weekly chart of your activities, examine it, and determine where the business fits. Don't assume you have time and find out later you don't.

Business Etiquette - Quick Tips for Work at Home Moms

Here's a growing list of quick tips to keep you up to date on business etiquette and protocol.

Contributor Melissa Leonard, certified by the Protocol School of Washington, presents corporate etiquette and international protocol seminars and briefings to financial institutions, corporations and private clients. Visit her website at www.establishyourselfNY.com.

NEW! All Work, No Play

We have all heard the saying, “its quality, not quantity that is important”. Long hours do not necessarily make you more productive. Mothers who decide to work from home do so in order to see and spend more time with their family. Since, you are not in an office where you actually must go home to make dinner or pick up the kids, work-at-home moms tend to feel they must work all the time and only take short break spurts here and there.

We all seem to get in the mindset of “well, I can’t go play tennis or go out to lunch because I should be working.” There is nothing wrong with setting a time each week where you spend a few hours playing tennis, shopping for yourself or going out with ‘the girls’. If you don’t take the time for yourself each week, you may find that you are not as productive. In addition, do take the time to stop during the day to do housework and chores. Personally, I find that my best work decisions and creative ideas come while I am folding laundry or unloading the dishwasher. The mental break away from work may be just what you need to brainstorm or come up with that great new idea. No matter how you decide to use your free time away from your home office, make it a weekly ritual and you will find that when you return, you will feel refreshed and invigorated.

Keeping In Touch

A few weeks ago, we touched on some networking dilemmas that work-at-home moms often face. Today, I would like to discuss how to use your past jobs and relationships to help your business not only grow, but flourish. Prior to being a stay-at-home mother, you probably had a least one or two jobs. Etiquette dictates that there is nothing wrong with using those connections to help boost your own business. Perhaps you had an old boss who knows that your skills and quality of work were impeccable. Take the time to contact these individuals and let them know what you are up to. You must remember that bosses or colleagues are now business peers and you must present and handle yourself in such a manner. Most people who you used to work for or with will be thrilled to see your business thrive and grow and they can be wonderful asset for your business. Remember, each person you can network with has friends, family and other colleagues who may be the perfect fit to help grow your business.

Home based business ideas: Teach Your Talent

Few people know that according to the No Child Left Behind legislation all school districts should be offering parent involvement opportunities to participating Title I parents. These opportunities may be in the form of a parent enrichment seminars/workshops. You can teach your talent and get paid for it. All Title I eligible schools have parent involvement funds that can only be used to provide parents with information that will assist them in helping their child achieve in school. Children cannot achieve when parents are homeless, jobless, illiterate and lack the skills to help their child do well in school. There are many people who have the skill and ability to teach resume writing, job seeking skills, tutor or teach adult reading, and help parents clean up their credit. If you think you could present this type of material in a professional manner, create a proposal and submit it to schools in your district. The funds available to provide these services to parent must be used or school districts will be penalized. This is a great way to make a real difference in your community.