work at home career advice

the secrets to a successful home business...

Work from home is the latest buzz word. Everyone is talking about leaving the corporate rat race, the commute, office politics, pay rate glass ceilings, and headaches to find the pot of gold at home. For many it’s more time with the family, less stress, more money, and being your own boss. But what many don’t understand is that the first word in “work at home” is WORK. Along with the work you have to understand several other factors.


Success Factor 1# - Is the market expanding?
Whatever business you choose, you must tap into a huge stable expanding market. Do you want to put all your energies into a market that is shrinking or could shrink if the economy changes?

Your business needs to be one that will not only serve a wide demographic of the population but ideally the entire population. Did you know that the Baby boomers make up 60% plus of the population and have the most disposable income base of any age group? If you are going to offer a service or product it certainly needs to have boomer appeal.

Success Factor 2# - What are current market trends?
Not only do you want a huge expanding market but you need to know that the trends indicate that the market will not shift away from the need for the service or product. You want a long term consumer need for what you are offering. A market trend occurs when a massive volume of people’s spending habits are moving in a particular direction. You don’t need a marketing degree in economics to get a good idea for trends in the market. Example: When you see vitamin and health food stores springing up all over your community you might guess there is a demand and trend to natural alternatives with the masses of people.

Since baby boomers are currently having a massive influence on business let’s take a look at their needs, interests, and where they are spending their money.

  • They are looking for more money and financial security
  • They are looking for better health and prevention
  • They have lived a lifestyle above their income levels and are now looking to develop a solid retirement
  • They are looking for Home business opportunities and are suffering from corporate burnout
  • They want to look and feel younger
  • They are ready for time freedom or time flexibility

 

Success Factor 3# - Is the product one that people will use on a frequent basis?

Look for a consumable product or service that is replaced regularly or needed on a daily basis. Preferably, it should be one that people can't get anywhere else. This is the type of product that will generate repeat business and create a steady flow of income. People fall in love with products and services that save them time or deliver a solution to a recurring problem. The product should also represent value for money to the consumer.

Success Factor 4# - Delivery is a major concern.
Whatever product or service you decide to provide you do not want to have to physically deliver to the end customer. This limits you in time, production, and is extremely cumbersome. In addition, when you own an internet business one of the benefits is the potential of an international business. If you are involved in the delivery process you will limit yourself in the development of an international market. Look for an automated process where all product or services are delivered directly from the parent company to the consumer.

Success Factor 5#- Is there a successful business system you can plug into to leverage your time?
Don’t reinvent the wheel! It takes time and too much money and energy. You want to get started making money right away. Look for a system that is already in place. Look for a business with a track record of success where you can simply jump in and run. This type of home business will have a higher potential for success and will allow you to maximize your personal efforts and time. This means there must be well designed and integrated marketing tools and efficient automated processes that don’t require a degree to use, implement, and understand.

Success Factor 6#- Is there strong support?
Once you get started, are you going to be left alone or will there be someone there to guide you? Choose a home based business that also offers a strong support structure - without additional setup expenses! Make sure someone will be there to mentor and guide you especially in the early stages.

Success Factor 7#- Does the organization have a track record, are they credible, stable, and do you feel they will deliver on their promises?

There is an old saying - "a fish rots from the head". Meaning that if you want to assess the quality of an organization a good place to start is with those who are running the organization. There are a number of home businesses to choose from. Make sure they have been in business for at least 15 years so you know they are stable. Don’t rely on he said-she said. Look at the company credentials. Have them been on the evening news as a scam or do they have solid well recognized accolades and businesses that recognize them as a business leader?  Get the facts not the gossip.

 

Success Factor 8#- Look for the meat!

If you don’t feel you are an authority on markets and business look what Better Business Bureau, US Chamber of Commerce, and other well respected business entities are saying. Any company that has been in business for a number of years will have a few past customers that might not like the service or product. You can’t satisfy 100% of the people. In addition, as with any company, business, franchise, or a home business some people make it and some don’t. Look at the numbers. Are the majority of individuals able to make a good income with reasonable effort? In the home based business arena it seems that if a person doesn’t make it, it’s the companies fault. You have to look past that and get the facts.

Look before you leap and make your decision on the facts!

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The big secret in life is that there is no big secret. Whatever your goal, you can get there if you're willing to work.
- Oprah Winfrey  

 

 

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