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How To Create A Business You Can Take With You

Starting an Internet Business is a reality but the reality of an Internet Business is it is like any Business, it takes time to grow and is not an instant get rich fix.

The true definition of Online Marketing is “Marketing Products or Services over the Internet” that simple really. Now I am sure you have all seen those great headlines:

How to lose 20 lbs in a week – “NOT TRUE’

How to make $1k in a week – “NOT TRUE”

How to get 1000 visitors in a week – “NOT TRUE”

The first question you need to address is what type of business are you in? Or what type of business do you want to be in? Then you need to establish is there a supply and demand for your products and services? Essentially you need a business that you can market.

The beauty of an Internet Business is that you have a global audience and market place right at the door step of your laptop, mobile device or tablet, and who knows what type of device will be next.

In order to start an online Business you need to master the art of marketing. So before you dive in here is what you need to do.

  • Come up with a business idea.
  • Research the market place to make sure you have a demand.
  • Put together a business plan if you require capital funds to kick-start your business.
  • Get the resources you will need such as a domain name, hosting account, autoresponder, website, graphics, training.
  • Build a blog platform and provide epic content.
  • Advertise using platforms such as Google ad words, Facebook advertising, solo advertising.
  • Find forums in your niche market, roll up your sleeves, get active and involved.
  • Continue to evolve your online learning skills.
  • Become the master of your tool box.
  • As you grow your business – outsource.
  • Expand, grow and evolve.

Starting an Online Business is way less expensive than setting up an offline Business. But in saying that an Online Business is the same amount of work, and there are skills you need to learn.

  • Such as: Content writing.
  • Blogging.
  • Web design.
  • Graphics.
  • Affiliate marketing.
  • Create Leads

Be prepared to invest time and money in learning these skills. Many people generally fail because they will not take the time to invest in learning. I can’t even begin to count the number of hours I have spent learning these skills, but I certainly know one thing. I have enjoyed learning these skills, and I am still learning each and every day. I stayed in the same profession for 30 years, and when I discovered that I wanted to start my own Internet Business I got excited, then as I progressed I got even more excited because I was on a road to discovery and creativity. Then I decided I wanted to teach what I know.

Let’s take a look at one Online Business model, Affiliate Marketing or it could be seen as an online version of Business referrals. Now most people think well I am marketing other people’s products or services so I am not running a business. But sorry to say you are wrong on this, this is a business in its own right and takes the same amount of work. Now a lot of Affiliate programs provide you with a lot of marketing material that can help you to promote This model could even be considered harder than giving your existing offline Business a web presence, or creating your own product or service.

These days with Affiliate Marketing you need to complete your own due diligence on the products or services you wish to promote, I would even go as far as to recommend that you purchase the product or service yourself before you decide to promote it to make sure that your end client’s will be happy with it. There were many changes with the post Panda updates on Google’s part that did a lot of damage to people whose primary business was Affiliate Marketing. The key to success with this type of business is to realize that you are in it for the long haul.

Content creation is critical in this type of business model, you need to use your writing to build credibility with your target audience. Understanding that people will purchase or do business with people they like, know and trust. This is the cash of your online business.

I think the biggest thing you can take away from this article is to understand that an Internet Business could be the ideal model for you, but don’t expect to make a million dollars over night. Take the blinkers off, be prepared to put in the hard yards, learn the skills and you will see a return on your investment and make money online using the internet.

The Main Reasons For The Growth Of The Home Based Business Industry

“Opportunity does not knock, it presents itself when you beat down the door.” – Kyle Chandler

What is the Home Based Business Industry?

An entrepreneurial business is mainly operated from home, mostly by the business owner himself. Some people refer to it as micro enterprises, working online, or small businesses. A small or micro business may not necessarily be a home based business.

It is important for the development of our home business opportunity to achieve financial independence in the global economy of the 21st century, to have a view of the total size of this industry and some views on possible future development and growth. This evaluation of the trends of the industry will help to dream-it-plan-it-do-it.

Very reliable statistical information is not freely available because these businesses are not well defined and are not part of governmental statistical planning and strategic information data. Some research and other information are available and will help us to get a broad view of the importance and trends of this industry.

Some general trends of and comments on the Business Industry:

The prospect of working from home has gained credibility over the years. It is no longer seen as a kind of part time job that the wife is doing from home while caring for her children. Take into account that most companies, about two-thirds of all companies, begin at home. That includes big companies like Apple Computer, Baskin-Robbins ice cream, Electronic Data Systems, Hallmark cards, the Lillian Vernon catalogue, and Purex.

In the USA, the average income generated by the home based business is substantial, as indicated by the following:

“Plus many home businesses do generate substantial revenue. About 35% have revenues of more than $125,000 and 8% more than $500,000. The median household income is $50,233 for households in general and roughly $75,000 for home entrepreneurs. The income for home based business owner is thus substantially higher than it is for the population as a whole.”

The home entrepreneurs business employs about 13.2 million people in the USA. It is estimated that about 50% of these are home based businesses. The assumption is that the home based businesses employs about 6.6 million people in the USA.

The home business industry is developing fast and becomes more important due to the following:

• The growth in the internet and the people connected to the internet. Two billion people are connected via the internet and this number grows by 200 million each year.

• Growth in the availability and lowering of the costs of broadband communication and connections worldwide has a positive influence on people connecting to the internet.

• The internet, increased online purchasing, money transfer mechanisms (notably PayPal), reliable global shipping, the decline in informal trade barriers and networks created through immigration have all made it easier for small businesses to serve global markets. The internet has been particularly important in enabling small businesses to cost effectively serve small market niches (the ‘long tail’ phenomenon).

• The development of computer technology, software, printers, dedicated telephone lines, and mobile phones creates new opportunities for the home based business and makes it more viable to operate a business from home. Affordable and powerful new technologies will continue to create new opportunities for the home based business. These technological developments will help to keep this industry growing.

• New innovations like:
o Express parcel delivery, distribution, cloud based IT services.
o Outsourcing, freelancing, communication technology, and the availability of skilled people in foreign countries makes it possible to not to have to perform all tasks at the premise of the home based business. It is easier to operate from a small premise at home.
o New business models have created new job opportunities for the development of home based business. Two examples are the network marketing industry, or multilevel marketing, and franchising.

• The growth of the knowledge and service based industries requires little office or working space and economies of scale does not apply.

• People are making lifestyle changes and prefer to work from home as it gives them flexibility, it saves time, and it eliminates commuting costs.

• The computer home business is not exclusively dependent on the local market to generate income, or for its financial existence; that makes this kind of business less vulnerable to economic cycles.

• Many people do need an extra source of income due to debt or other financial reasons and start their own home based business part time to generate a second income stream.

• With employer benefit packages being cut and the chances of losing a corporate job increasing, many view starting a home based business as no more risky than traditional employment. Job and income security drives people to start looking for and to develop an extra source of income for them.

• Due to demographic and social shifts. Aging baby boomers, women, Gen Y and others are all seeing home based business ownership as an increasingly viable work option. An interest in achieving work/life balance, flexibility, the opportunity to pursue a passion and working for your self are some of the reasons given for starting a home based business.

• There is a lack of corporate jobs. Large corporations have been battered by the recession. Even if the economic recovery is strong, it is unlikely that these companies will dramatically increase hiring. Instead of hiring full-time staff, they will stay flexible and lean through the increased use of technology, contractors, partnerships, and outsourcing. As a result, starting a home based business will be the best, and in many cases, the only option for corporate refugees.

“Nevertheless, owners are much more satisfied with their quality of life than other small business owners. However, the majority of owners do not appear to have made a financial trade-off in order to secure this quality of life.”

The number of people connected to the internet is growing very fast. Broadband is becoming more available in the world. The internet support technology and mobile applications of communication is growing at an astronomical rate. These developments create new opportunities for the internet related businesses.

It is being considered by some researchers that these developments will have a greater influence on the world economy than any economic revolution in history.

“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas A. Edison

“The first one gets the oyster, the second gets the shell.” – Andrew Carnegie

These technological developments and innovations will create more and new opportunities to dream-it-plan-it-do-it big. The home business opportunities and the industry will boom. The true entrepreneurs will grab them. Do you want to be part of this? Join the team.

The Economic Importance Of The Home Based Business Industry

DEFINING THE HOME BASED BUSINESS

The home based business can be defined as a business whose primary office is in the owner’s home. The business can be any size or any type, as long as the office itself is located in a home.

In the USA, there are about 6.6 million home based businesses that generate at least 50% of the owner’s household income.(a)

“If one advances confidently in the direction of his dreams and endeavors to live the life he has imagined, he will meet with success unimagined in common hours.” – Thoreau

ESTIMATES OF THE TOTAL SIZE OF HOME BASED BUSINESS

“One study has estimated that the total number of people who run or are employed by home based businesses in South East England is in excess of 250,000 people, equivalent to 7% of the working population of the region.(c)

“While the average home entrepreneur business has two employees (including the owner), 39% have between two and five employees, and 10% have more than five. Using these average employment numbers, Emergent Research estimates that home entrepreneur businesses currently employ roughly 13.2 million Americans, including the owner.(a)

“To put these figures in perspective, let’s compare them to U.S. employment generated by two important industrial segments: venture-backed firms and the oil and gas industry. Analysis by the National Venture Capital Association shows that companies that received venture capital backing including such corporate giants as Intel, Microsoft, and Apple – employed 10.4 million in 2006.”(a)

THE IMPACT OF THE DEVELOPMENT OF THE INTERNET ON THE ECONOMY AND HOME BASED BUSINESS

The development of the internet has been and will be the big driving force in the development of the internet related home based business. Let us have a closer look at these developments. The following information is extracts from the McKinsey report.(b)

  • Two billion people are connected to the internet. This number is increasing by about 200 million per annum.
  • Almost $8 trillion exchange hands each year through e-commerce.
  • About one-third of small and medium-sized businesses extensively use web technologies.
  • The web has made possible new waves of business models and entrepreneurship. It has transformed industries.
  • The internet accounts for 3.4% of the GDP of the 13 countries that was part of the study. These countries represent 70% of the world GDP. The total contribution of the internet to the world economy is $1 672 billion or 2.9% of the total GDP.
  • The internet accounts for 6% of the GDP of countries like Sweden and the UK.
  • Over the past 5 years, the internet has contributed 21% of the GDP growth of the 13 countries that were studied. These countries represent 70% of the total GDP of the world.
  • This is a reflection of the small and medium-sized enterprises receiving a performance boost through the internet. These companies with a strong web presence grew more than twice as quickly than those with a minimal or no web presence.
  • The internet has become a very significant factor in the world economy and the growth of the economy. More specifically in jobs and wealth creation.
  • Online marketing represents 15% of total marketing worldwide.
  • The search requests by individuals on hard-to-find items or information was a total of 1 trillion requests during 2009.
  • In the USA, web surfers made purchases worth $250 billion in 2009; in the UK, it was $63 billion or 2.9% of the GDP. The average online shopper in the USA has spent $1 773 during the year. In the UK, $2 535 was spent on average.
  • The study concludes that the influence of the internet on the economic growth in the world, on job creation and generating wealth, is becoming more important and stronger.
  • For individual companies the internet lowers costs and increases revenue, productivity and profits. The internet helps these companies to accelerate growth in the export markets and to have access to new markets.
  • The introduction of broadband stimulates the development of the internet in those countries where it is being introduced. The internet stimulates growth in GDP, in job creation, wealth, and increases productivity.
  • In France, the internet has created a total of 700 000 jobs during the past 15 years.

The research of McKinsey indicates the growth in people connected to the internet, the importance of doing business via the internet, and the big influence that these new technologies have on the GDP of the world economies.

THE INFLUENCE THESE DEVELOPMENTS HAVE ON MY HOME BASED BUSINESS

Accurate research information is not available about the expected growth in the online home based business industry. I want to make some estimates based on the information discussed above:

  • The annual growth in people connecting to the internet is growing with about 10%.
  • The ability of the internet to:
  • Create new jobs. Give people an extra income stream. Have their own home based business and being self-employed. These changes create many new business opportunity.
  • The new technologies related to the internet will create new business models that will stimulate opportunities.
  • More and more trading and marketing is being done via the internet due to the development of new systems and technologies.
  • The improved communication systems and technology makes it cheaper, less risky, and more attractive to start a home based business.
  • The influence of the development of the internet on the growth in the GDP of the countries in the McKinsey study has been higher during the last five years than during the previous fifteen years. The trend is upwards. Many of the conclusions in this study indicate that the influence on economic growth in the future will be higher than in the past. Some developed countries like the UK have a more people using the internet than others, for example the USA. That indicates growth in many of the developed countries.
  • Due to the development and introduction of broadband in the less developed countries of the world, new trading and business opportunities will become available.

There is a trend that more people who want to work from home, as indicated by the following quote: “Nevertheless, home based business owners are much more satisfied with their quality of life than other small business owners. However, the majority of home based business owners do not appear to have made a financial trade-off in order to secure this quality of life.”(c)

These new technological developments, the changes in the economic environment and changes in the social needs of people will result in a higher growth rate in internet related businesses, as well as in online home based businesses, than the 10% annual increase in people becoming connected to the internet during the next few years. If one takes into consideration that the average growth in the GDP of the world is expected to be much less than 10% per annum during this period, then there has to be good business opportunities here.

This expected growth in GDP due to internet related business activities creates many online business opportunities for the online home based business owner.

A fast changing economic, business, and technological environment needs quick and big action. The opportunity of today might have disappeared tomorrow. This is the environment in which to dream-it-plan-it-do-it big. Our team wants to support like-minded people who want to join us on this journey. Take action. Do not postpone in this business environment.

“Screw it, let’s do it!” – Richard Branson

References:

(a) Small Business Success Index Research Note Home Entrepreneurs: A Vital Economic Force.

Small Business Success Index Research; Homepreneurs: A Vital Economic Force.

(b) McKinsey Global Institute: Internet Matters: The net’s sweeping impact on growth, jobs and prosperity”

(c) Home-based business: Challenging their Cinderella status.

http://ser.e-contentmanagement.com/archives/vol/17/issue/2/article/4065/home-based-business