Making money in a slow economy - Tips to start a home based business
Making money in a slow economy is possible with the right determination, focus and goals for success to start your own home based business
Are you looking for a way to make extra money in this slow and sluggish economy? Are you a business minded person looking to bring more money into your family each month? Take your financial situation into your own hands and start a home business - you determine your next raise!
When the economy is down and you need a way to bring in extra funds for your family, have you thought about starting your own home based business? More and more people want a way to earn that allows them the freedom to work when they want, determine their own income, gives extra tax deductions, is fairly easy to get started making money and won't cost an arm and a leg.
A home based business is not a get rich quick way to make money but, a legitimate business that you can work slow and steady to see growth and profit depending on your level of commitment.
Do you wonder if you have what it takes to start your own home based business? Not sure if it's something you'd like or be good at? What type of company should you look for? Let's explore how you can start a home business and bring in the extra income for you and your family with these tips.
(photo courtesy of avalla.com)
My Favorite Best Book and Tool on Goal Setting
These are my favorite products to help with goal setting for a home business and I hope they help you too!
Always keep learning about home based business and success will follow!
Use your driving time to listen to these top DVD's that help you succeed in your home based business. You can also share them with other members of your organization or the team you're building.
"A home based business is not a get rich quick way to make money but, a legitimate business that you can work slow and steady to see growth and profit depending on your level of commitment"
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Have you ever wanted to start your own home business in network marketing?
You can make money in a slow economy by starting your own business.
You'll need determination, focus and goals to succeed
You're on the right track if you're thinking of starting your own business during a slow economy. Many people are doing just that every day and you can join them with the right attitude, mindset, goals and determination to be successful. There are many choices for a home business and typically only cost a couple hundred dollars to get started. That's what I did 25 years ago and it was more money back then than it is now to have a home business and I work as little or as much as I want to. Don't lose hope, you can get extra money quickly too!
What's the best home based business in a slow economy? It's going to be different for everyone depending on your interests. There are thousands of top home based business ideas that range from anti aging products, women's products, kitchen gadgets, beauty, candles, household products, wellness products, skin care, tanning, gardening equipment, lawncare, sports, perfumes and the list goes on and on. Keep reading to determine what could be your best idea to make money in a slow economy.
Create a goal and begin to visualize it as though it's already happened. Is your goal of a home business to have more money, meet new people and expand your social circle, to have the freedom of a schedule that allows you to be home with your children or for recognition of your work and efforts? Once you know your goal, you can begin to focus on the life and lifestyle you want so that all the tasks you do will lead you to that successful life you're visualizing.
Be determined for success! Now that you have your goal in mind, stay focused on it with your mind and with the help of your company you will begin to learn what tasks are needed to help you to reach that goal. You can work a business around your current schedule so you have the time to be with your family, enjoy your friends and do anything else that would give you the lifestyle you want. If you have 3-5 hours a week that you could devote to a new home business, you do have the time to get started and grow an extra income or free up your time for family and friends.
Home business companies offer a myriad of ways to share products, find customers or to grow a team from one on one meetings to small or large groups, to other businesses to trade shows, networking events or sampling as a few. Try them all, find what works best for you and then keep doing it. It is work but, it's a simple formula for success.
Learn more about it and get started yourself.
With an attitude of success and willingness to work a business, you can have all you've ever wanted in a relatively short amount of time. Many people fail simply because they fail to act -- don't let that happen to you! You can achieve anything you put your mind to. Slow and steady wins every time.
I did it, You can too!
My husband and I own a local restaurant and know all too well the high costs running into the thousands of dollars, requiring loans of opening a brick and mortar store/building/business as well as costs for equipment, licenses, taxes, maintenance, labor, vendors and the list goes on and on. If you want to open a restaurant, check out my husbands blog on Successful Restaurant Tips here: http://successfulrestauranttips.blogspot.com/
Most people don't have the means to open a brick and mortar business so a home based business opportunity removes the cost factor and the risks associated with it. A home based business becomes a brick and mortar alternative for those people. A home business typically requires less than $300 of an investment with an ability to start earning money almost immediately and is one of the reasons they are a huge draw for so many people. It's one of the reasons I started my own home business too and it just might be the extra income that you need and are looking for too.
Make extra money sharing your favorite products
There are more benefits to a home based business besides money.
Once you find a product or service that you love with a direct selling company, (because you'll get a wholesale discount!), use it and learn as much as possible about it. It will become easy to share it with others as well as sharing your new business opportunity. Consumable products sell better since they get used and need replaced. Even in a slow economy, women buy anti aging and beauty products more than other items and all consumable products remain top sellers. Plus, they reorder them unlike candles or kitchen gadgets or other items they don't have to have. Consider this when you are looking for a home based business company. You may already love and use a product that you could easily talk about and tell others about the benefits of it. This is the start of how to be successful with a home based business, sharing what you know and love.
You'll begin to make new friends with your newfound relationships, earn trust and have a team around you in a short amount of time. Many people join a home based business company simply to get out and meet new people. If you want to improve your social life with other like minded business people, starting a home business could be great for you.
Your own business with a direct selling company is one of the top business ideas during a slow economy. Your own business will afford you great tax advantages too as almost everything you do becomes a tax deduction, saving you potentially thousands of dollars at year end. Just follow the rules by working at least part time, attempt to make money, save all your receipts and keep your files organized. Document any mileage will save you money at tax time as well as your home utilities, computer and office expenses and even part of your mortgage or rent. If you could use additional tax deductions, a home based business could help you owe less money in taxes every year.
Many people with a home based business earn $200 - $1000 per month with the average being closer to $300 per month working very part time. If that seems like something that would help you in a slow economy, you really should look into getting started working for yourself. The worst thing that could happen is that you'll have a wholesale account number to buy your favorite products at a discount.
Know that you won't be successful overnight but you can add additional income to your household almost immediately once you decide to get to work. Many people make the mistake of getting too ready, too organized, needing to know all the answers. Learn and do enough to get started and then just get started. You will succeed as long as you don't quit and take it a step at a time.
If you've already tried selling on ebay or amazon and other ways to make extra money and still need more ideas, consider a home based business with a company that handles your packaging and shipping for you giving you more time to focus on customers and service.
Build a Team and Earn More - Some people decide to grow their income by building a team within the company
Building a team in your home based business isn't necessary to earn an income but, consider it if you want a larger income by sharing what you know with others it could help and become a leader.
Add your opinion on a home based business, thanks for sharing for others to learn! - What do you think is best? A steady 9-5 job or home based business for your
The best type of job?
Best Selling Books for Home Business Entrepreneurs - Browse these or use the search button for even more ideas!
Find the best tools for home business success
Quick thought on choosing a home business company
A word to the wise on choosing a home based business opportunity:
Make sure to find a reputable company, a legitimate home based business opportunity, a leader in the industry you're searching, has a home office, customer service support, phone and email and on the job training. No experience should be required - they should teach you each step of the way! Search the company on the internet and ask your friends for a recommendation.
Avoid any company that suggests or recommends or even requires you to bulk up your products and make a large purchase of inventory just to get started. You only need the basics to begin to earn money and when you buy loads of products to start, you will have to work much harder to move those in addition to buying more each month.
Many people get discouraged with a home based business because they eventually realize that not only are they out a lot of money but, those products start to get old or even discontinued by the company.
A friend of mine considered joining a very popular home based company and since she was a business owner already (she owns a bridal shop), the person trying to get her to join wanted her to spend over a thousand dollars in inventory! Good thing that she didn't do it and never joined them because it could have taken her a year to get rid of all that product.
An honest company will suggest you buy only what you need to start your home based business and it should cost less than a few hundred dollars at best.
The best home based business company will have a minimal monthly order requirement to remain as a distributor with the company with no minimum on individual orders. You should and need to be able to order only one item or ten - depending on your customer base and personal needs.
Have more questions on how to be successful in a home based business? - Build your library and refer to it often!
Learn from leaders on what it takes to start and run a successful home based business
More ways to Work from Home - Check out all your options and Go For It!!
Read more about Home Based Business Ideas:
- How to make a Vision Board
Details on a quick and easy craft project to help you reach your goals
- Make Money Selling Books on Amazon
Another great idea for making money in a slow economy - selling books on amazon. This author gives you all the details on selling used or new books or even starting your own home business!
- Home Office Business Furnishings
Set up your home office for business with affordable furniture that looks good and helps your work space!
- Receipts to Keep for Taxes
Read about what receipts to keep for taxes and what you can safely toss - reduce clutter and get the write offs for your business.
Direct Selling Organization
Look no further than the Direct Selling Organization (DSA) for a full list of the best home based business in a slow economy with legal and trusted companies that follow the rules of integrity, customer service and ethics.
You can follow companies growing, companies filing bankruptcy, companies that are members and companies to avoid by utilizing the DSA site.
The DSA will give you the latest news, meetings, events as well as the important DSA 411 which will help you investigate a company and know which questions you should be asking.
- Direct Selling Organization
The Direct Selling Organization is the trusted site that will help you decide on a company to join and answer some of the important questions that you will have before joining.
© 2009 Cindy