Is There a “Best Home Business” or Is That Nonsense?
Sometimes I get asked what the best home business is to start. Some home businesses even like to claim to be the “best home business.” Is there really one home business that is the best one to start.
Certainly not, at least not if you mean best for everyone. There may be one that is the best for you, but it won’t be the best for someone else. That said, there are certain factors you should consider when looking for the best home business.
1. What Do You Want to Do?
I enjoy doing affiliate marketing online, mostly by providing relevant content. I think it’s fun. But that doesn’t mean it would be the best choice for you, especially if you don’t want to spend a ton of time writing on your computer. You might hate writing. You might not enjoy spending a lot of time on the computer. You may want faster results and not mind the risk of more expensive marketing methods. You might want to spend more time with other people.
Your best choice in a home based business is one you’ll enjoy working on. That’s a product you believe in, selling in a way that makes you comfortable.
2. What Kind of Time Will You Spend on Your Home Business?
The amount of time you can spend on your home business makes a big difference in the kind of business you will do well with. If you’re adding a home business into an already heavy daily routine, you don’t want something that adds too many hours to that day. You’ll probably be happier with something that you can do for a half hour or several hours at a time, depending on what you have available that day.
Never assume that you’ll have great success working a home business just a few hours a week, however. Most times that doesn’t work out, especially if that’s all you’re doing from the start. It’s very common for home business owners to work 12-14 hours a day every day of the week. If you love what you do, and you don’t have other obligations in the way, that’s entirely doable.
3. Don’t Be Desperate
Sure, you’re probably looking to start a home business because you need the money. Maybe you need the money really badly. That’s probably the worst reason to dive headfirst into a home business, and a great way to get a bad start.
Should you be eager for success? Absolutely!
That doesn’t mean you should be desperate for it, no matter how difficult your personal financial situation is at the moment. If you’re that desperate for money, a job outside the home is a much safer bet. At least you’ll know what you will earn for your efforts.
A home business can do wonderful things for your personal income, but it can also lose you a lot of money and time if it doesn’t work out. That’s not a great combination when you’re desperate. Get some money coming in other ways, and spend any time you can spare on your home business on the side. It’s a slower start, but you probably won’t starve in the meantime.
4. What Do You Want to Spend on Your Home Business?
Your typical home business costs money. Make no mistake abut that. There are very few ways to earn a living with a business that don’t cost any money, and those cost a whole lot of time. That mansion, yacht and sports car the hype masters like to pretend we’ll all get from our home business endeavors don’t come easy even for the few who do that well.
Spending money doesn’t guarantee success, but it helps you appear more professional, which is appealing to potential customers.
That said, you need to know your budget. Are you going to start on a shoestring or take a chance with more serious money?
Most times, you are best off being a little cautious financially as you figure out the basics. You can get bolder as you better understand what you’re trying to accomplish and just where you can most effectively spend money. It’s very easy to throw money away on a business by plunging in too quickly.
5. Ignore Outrageous Claims
As you research the many opportunities out there, you must remember that many outrageous claims about how wonderful, how easy and how profitable a business opportunity may be. The FTC is working on cutting that down, as are many vendors who process the payments for popular home business products, but the claims are still out there.
Theoretically, they’re supposed to clearly state the normal result for people using their product. I’ve always said that’s difficult in areas such as home business, because the usual result for buyers is that an info product sits on their computer, maybe gets read once, and a very few take action on it. That’s just how it tends to be. Add in how rarely product creators get feedback, and figuring out the normal result is not easy.
That said, I also don’t really care what the income claims are or how easy they claim it is to earn money from home in a particular way. I’m more interested in the method being taught and whether or not it’s something I’d be interested in doing. That means I don’t buy products from vague sales pages promising marvelous income and not a hint as to what the work would actually be. Asking for refunds isn’t too difficult with many products, but it’s one more step to take, and I’d rather not do that.
I like the product review section on Warrior Forum for internet marketing products. No affiliate links allowed, and sometimes the product owner participates. You can get a pretty good idea as to whether or not the product has a chance of being worth buying. That said…
6. Don’t Buy Too Many Information Products at First
A good quality information product that helps you get your home business started is a wonderful thing, well worth the money. It saves sifting through the entire internet looking for tips on how to start earning money. But don’t overspend, and don’t buy a whole bunch at once looking for the shortcut to success. You aren’t going to find it.
Only buy information when you’ve figured out what your information needs are. There’s plenty of free information out there to get you on the right path – buy when you need more detailed information on the subject, and only buy after you’ve researched the product you’re going to buy so you know it will probably be worth the money.
7. Don’t Be Too Disappointed If You Don’t Pick the Right Business the First Time
You often hear that most businesses fail within the first year, first five years, whatever. The most common stats may not be all that accurate, just check out this chart, but keep in mind that the chart doesn’t indicate when the businesses become profitable, just when they shut down.
It’s still very common to have to try more than one opportunity to find the right one for you. You don’t really know what the best fit is until you’ve actually tried it. Just keep trying and don’t be too quick to give up. You will eventually find the right home business for you.