Home-Based Business For Fun And Profit

SELF-EMPLOYMENT AND YOU
The world of self-employment can be a personally and financially rewarding one for the right individual. Many people dream of owning their own business but don't believe it will ever happen for them. The majority of these folks see all the positives of working for yourself, but lack the drive and determination to make the transition from employee to employer.
Self-employment is the ticket to higher earnings without limit and the right to control and work your own schedule. But it's not easy work. A lot of self-employed people are working longer hours and weeks than ever in their own business. The difference is they are doing work they truly enjoy, and are getting paid for it!
You have the talent and ability to work on your own! Perhaps you're just not sure what business you'd like to specialize in.
Sales aren't just the slick folks on the automobile showroom who want to know what it will take to get you in that car today. Selling is the process by which a product reaches a consumer. It can take many forms. If you have some preconceived ideas about sales right now, erase them from your mind. Start with a clean slate by remaining open to all possibilities in your home-based businesses.
After all, if you're marketing a product you would buy yourself, it will be easy to convince others of its value. Since you're selecting the right business opportunity, you'll unquestionably choose the business that has the most appeal to you. Selling something you love almost never feels like work, or real selling!

HOW TO GET STARTED
If you currently have a job, you may want to break into your home-based business on a part-time basis until you've built up enough earnings base to leave. There will probably be no greater feeling than when you walk out the door and into a business where you call the shots!
If you're between jobs, then by all means go at this full-force. All you need to do is to contact the businesses listed here that interest you and begin the process of determining if this is right for you.
There may be several opportunities here that are franchises. There is no available data that says that electing to go the franchise route to start your business has any lower success rate than beginning a new business from scratch. Again, view these choices with an open mind and investigate the opportunity thoroughly before making the commitment. If you're working part or full time, you can, perhaps, be even choosier.

THE TOP 10 WAYS TO EARN MONEY AT HOME

1. ANTIQUES

The buying and selling of antiques has been and should continue to be a very productive business, financially, for those that do it. Here, you only need an extra room in the house, or the use of your garage -- and you have an office!

If you have a large home that has some antique furnishings, you might consider turning it into a showroom for your antique acquisitions and sales, providing you satisfy any local zoning regulations. The interest in antiques will survive into the foreseeable future. Many people choose to spend their free time on the weekends "antiquating" from place to place to try and pick up a few odds or ends and maybe a jewel or two. If you know anything about antiques, this may be a great opportunity for you.

For more information, check out the book, "Buying and Selling Antiques", by Don Cline and Sara Pitzer. Your local library may be filled with other publications on this subject that can get you started quickly. Your only overhead may be inventory and advertising!

2. BAKING

Have you ever been told that you have a recipe which people would line up to get if they could? Ever had anyone tell you that you should be selling those cupcakes you make? There are a number of success stories about people who have launched successful businesses by cooking at home and then marketing to local people first. Word of mouth on a good product may start to get restaurants or bakeries interested in acquiring your culinary masterpieces. Then you progress to selling them state-wide and presto! A winning home-based business!

For more practical advice on the assorted aspects of setting up a specialty foods business, you should contact your local U.S. Department of Agriculture Home Extension Agent in your county. Since every U.S. county has such an individual, that person shouldn't be hard to find!

3. BED AND BREAKFAST PROPRIETOR(S)

Have you ever stayed in a bed and breakfast and thought, "hey, I can do this!" You probably went on vacation and simply chalked your thought up as one of those pipedreams one gets when they stay in a beautiful spot.

Don't toss that thought away! While it's not easy work as the hours can be long and it's usually a seven days per week business, it's often something that you can work into a daily schedule. After all, it's merely an extension of doing the housework for family, right? More and more Americans are taking after Europeans and opening their homes to travelers. If you have an extra room or two since the kids moved out, you can start a bed and breakfast in your own place!

Bed and breakfast popularity will continue as more and more vacationers and business travelers seek a different accommodation away from the predictability of the average hotel room. If they enjoy their stay, many become "repeat" customers, coming back to the same familiar surroundings time and again.

If you don't need to do any major renovations in the house to accommodate this type of establishment, you can be off and running with very little money invested, other than advertising and some new "guest room supplies". If your dream is to buy a bed and breakfast somewhere in a vacation paradise, there are probably houses for sale that will work for this purpose.

Whatever your design, there are several good books on the subject of starting your own bed and breakfast, including "Start Your Own Bed and Breakfast", by Beverly Mathews. Check them out at your local library.

4. CHILD CARE

Due to the financial pressures many families face today, many parents work outside of the home to bring in enough income to pay daily living expenses. A single parent is obviously working but all too often both members of a two parent family are in the workforce.

This creates a home-based opportunity. Children must be watched, all day if they're not in school, or, otherwise, for a brief time after school before the parents finish work for the day.

Caring for one additional child may not be that lucrative, but taking care of several children can certainly be a full-time, financially successful business. Often, taking care of several children is made somewhat easier as the youngsters often will play together.

You can do this at home for only a small investment in basic equipment and toys for the kids in addition to the advertising of your business. There are several publications that address starting this type of business, including "Family Day Care", by Betsy Squibb.

Another resource is the Day Care Council of America, 5730 Market Street, Oakland, CA. 94608.

5. COMPUTER SPECIALIST

The advent of the computer age has changed the concept of self-employment. Having a computer at home has opened a number of opportunities for running your own business utilizing this equipment. Companies everywhere are "outsourcing" work that can be done by someone else on their computer, out of their own home.

If you're not that familiar with a computer, there are many low-cost (or free) seminars and classes that will teach you what equipment you need and how to use it.

If you're a whiz in computers, you may end up working as a consultant, writing programs for companies. If you're a beginner, you may find yourself able to obtain work as a writer, using your computer to produce copy that's easy to edit. You can also keep accounting and payroll records for companies on your computer's database.

Word processing software can be used not only for writers but for those that can offer secretarial services out of their house. Desktop publishing software can allow you to do newsletters for businesses and other organizations.

For more educational data, contact the Information Resources Clearinghouse at Syracuse University's School of Education, 030 Huntington Hall, 150 Marshall Street, Syracuse, N.Y. 13244. Their phone number is (315) 443- 3640.

There are a substantial number of good publications, too. Your local library will have several books on computer occupations. If you can operate a computer, you can find work in the information age today.

6. GARDENING

If you like working in your garden each year and growing vegetables for your family to eat, it's a definite possibility for home-based employment. Imagine clearing a little more space and growing more items that you can sell directly to the consumer.

Most produce stands will buy from you if your product is one of high quality. If you enjoy gardening, this could be your ticket! If you have some more land to use, do it! Plant what you can, when you can! Contact your local produce stands to ascertain their buying habits.

You can even inquire about your own produce stand if you have enough product. The more space you have on your land, the more likely you will be able to generate enough crops to run the business.

People love home-grown vegetables. They just don't have the time or want to be bothered doing it themselves. That's your open door!

For more information, consult books like "Plants for Profit," and "A Complete Guide to Growing & Selling Greenhouse Crops", by Francis Jozwik.

7. IMPORTER AND DISTRIBUTOR

There are a substantial number of products manufactured in other countries which can be bought inexpensively and sold here in the United States at a profitable level. The recent passages of the Congressional bills, NAFTA and GATT, may make it easier to bring in other products from other countries.

This is a business easily operated out of the home, depending on the types of stock you're carrying. You may have to rent some storage space, but the capital required to start should essentially be limited to the products you're buying to sell here.

Two good resources for you are:

* American Importers Association Membership Directory, 420 Lexington Avenue, New York, N.Y. 10017; and

* American Register of Importers and Exporters, 38 Park Row, New York, N.Y. 10038.

You can also look at books in your library such as "How To Make A Fortune In Import/Export", by Howard R. Goldsmith, obviously an optimistic look at this type of business.

If you know the type of product you want to import and the market most likely to purchase your goods, you have great potential for a successful home-based business.

8. INTERIOR DECORATOR

While this business will require you to be out and about, meeting with customers, it's the type of work many people would love to do. If you have a fascination for decorating a home, this could be your line of work.

Many people don't know where to start when they are remodeling or buying a house for the first time. If you have the knowledge of colors and patterns and what looks good together, plus the expertise of knowing where to get materials and furnishings, this can be a winning home-based business for you.

One excellent resource to consult is the "Interior Design Directory", available through Whitney Communication Corporation, 1050 E. 58th Street, New York, N.Y. 10155.

9. PHOTOGRAPHER

The sky's the limit here! Armed with your trusty camera and some good advertising, you can do weddings, models, family portraits, passports, student photos, local newspaper coverage; almost anything that requires a picture!

You can easily start this work, part-time, and work into full-time work based on your success and inclination. Not much equipment is necessary to get going as a camera off the store shelf can often do the trick today. Picking up a tripod and having a room sufficient for developing your pictures, and you're in business -- at home!

There are a number of excellent books available in your local library to get you started on the path of professional photography.

10. SEWING & ALTERATIONS

Many people love to sew. If you're one of them, consider offering this service out of your home. When someone buys a new outfit, it rarely fits perfectly, meaning some kind of alteration must be done.

People look long and hard to find reliable individuals to do their alterations. If you can sew, you're well on your way to opening the doors of this type of business.

One resource you can review is "Sewing for Profit", by Judith and Allan Smith. Or your library will have a handful of capable publications on starting up this type of business.

These are our suggestions as to the top 10 ways to earn money at home, enough to be a full-time self-employed businessperson!

But there are many other opportunities. The listings that follow may give you some other ideas you need to get started in business for yourself.

SUMMARY

Are you ready to start up your own business now?

Whether you begin from scratch or invest in a franchise, the time has never been better to get a home- based business off the ground. It's become almost routine in the business world to work with independent contractors. Many times, it's more cost-effective, too.

Most of these businesses do not require a substantial amount of start-up cash. Many of these franchise opportunities offer financing.
With Internet's help, your home business can be moved online and expand globally. Your profit will be significantly improved if you can integrate your traditional business into online business.

How Home-Based Business Entrepreneurs Think

Too many people are trying to start their home businesses with an ordinary employee's way of thinking. This has become a common reason why not long after sitting down and giving it a fair look into even the most lucrative business opportunity they bump into, they put it away and decide not to take any chances.

What has happened here is that the most lucrative business opportunity has been looked into by an ordinary 9-to-5-worker, who appears NOT to be business-minded.

If you are like most people, you have probably considered starting your own business yourself. But above all, you have to understand that to make into a successful Business Entrepreneur, one has to change their way of thinking first.

1. DO NOT EXPECT FAST CASH!

Besides gambling or winning a lottery, working as an employee is the only way to get 'fast' cash... 'fast' as in 'in-25-working-days'. This kind of cash is always certain to come in as long as you work from 9 to 5 for your boss. But as you probably already know it, as soon as you stop, the money stops. (See FinancialFreedomAwaits.com).

True entrepreneurship-minded people know that it takes time to develop an 'attack plan' for their businesses. It takes time to build a strong and solid business, which delivers ongoing income through many years.

True Business Entrepreneurs hold on to this truth, "We reap what we sow, but the harvest is never in the same season as the planting."

Change your way of thinking:

DO NOT EXPECT FAST CASH!

2. AIM FOR JOB SECURITY OR FINANCIAL SECURITY?
Employees would rather have job-security. Why? Simple: the income is secure. As long as you loyally work from 9 to 5, you will for certain get your cash! The problem with a typical job is that when you stop, the money stops.

The stark fact is: one day you might get sick and won't be able to go back to work. Sooner or later you will retire. Companies get broke and have to release their employees. No matter what the situation, as soon as you stop working, the money will stop coming.

So much for secure income...!

A job with secure income is necessary for those who has not set up their own business yet. True. But a true Business Entrepreneur won't settle merely for job-security. He aims for much more, such as financial security. No, he won't have fast cash. And no, he won't have any secure income yet - at least not in the beginning. And often, he won't have any income at all from his new business for the first few months.

Business entrepreneurs think of the big picture. What they do is building assets from which his money will come in month after month, year after year from work he is doing now! The money will not come now. It might not even come for the next few months. But as soon as his business is up and running, it will keep generating income for him, even when he chooses to stop working!

And THAT is financial security!

Change your way of thinking:

THINK OF THE BIG PICTURE: AIM FOR FINANCIAL SECURITY!

3. GENERATE PASSIVE INCOME

Financial freedom is not measured by how much money you earn by working, but how much money comes in with only little or no work at all. This later kind of income is called passive income. This fact has been known for decades by real wealthy people.

Successful and wealthy entrepreneurs do only little work and sometimes it is even possible to do the work only once but still generate recurring income on it. Imagine a song or a book writer. They write their songs or books once but get paid forever on it. This do-it-once-get-paid-forever type of income is called residual income.

Most people who have attained financial freedom have other people working to generate income for them. Earning money by other people's effort is called leveraged income.

As hard as it may seem, to create leveraged income, you need to have your own business where other people work to generate income for you. Any business. Whether it is a traditional business, franchise, small business, internet based or home based.

Employees work to generate secure income. Business Entrepreneurs work to build assets with income streams which generates for him ongoing passive income (either residual or leverage income or both). In other words Business Entrepreneurs work to build himself -what I would call- a 'money-machine' which is designed to generate ongoing income.

Whereas the Employee can not stop working because otherwise he will lose his income, the Business Entrepreneur will have money coming in constantly, even when he chooses not to work, simply because it is his assets that generate residual and leverage income for him.

Change your way of thinking:
TAP INTO PASSIVE INCOME BY GENERATING RESIDUAL & LEVERAGED INCOME!

4. INVESTMENTS

It is common for people who seek job security to hesitate to invest. The reason is understandable: for some of us the risks of investing in a business are just too much to handle.

A true Business Entrepreneur understands that in order to build -what I would call- a 'money-machine', investments are necessary. There is just no such things as businesses without investments. He knows that it takes time and effort to develop a successful business. But he also knows that investing money is just as important!

Sometimes it takes the Business Entrepreneur a year or two before he can finally reap the big success. Sometimes even a bit more. It takes a couple of years of investing time, effort and money. But this is not too hard for him to handle. A true Entrepreneur thinks long term. He knows that in the end, his working and money investing will finally pay off!

A Home Based Business Entrepreneur would only have to invest just 5-10 hours a week for a couple of years and he would only have to make low budget investments into his home based business. And at the end of the time of working and investing, our Entrepreneur would have turned it into a significant amount of residual income stream!

I'm not talking about money that comes in today and is gone tomorrow but income that keeps coming in month after month, year after year... money that -as Gery Carson has put it- "when you've left this planet continues to provide for your spouse, children, or grandchildren."

By then you would think that all your valuable time and money you have spent would be worth it.

Commonly an ordinary employee, who fears too much to invest, works hard to receive his pay check every month. Most likely he even retires broke. Before he knows it, he leaves the planet with nothing to leave for his family.

A true Business Entrepreneur is prepared to invest. He knows by investing in his business he is building assets that would generate passive and residual income for him throughout his years on this planet and the years of his grandchildren.

Change your way of thinking: THINK LONG TERM: START INVESTING!

How Long Should You Hang Onto Your Home-Based Business Dream?

A home-based business becomes for the business owner, an entity in and of itself. Because so much hard work, blood, sweat and tears goes into every home-based business, it is easy to view it as having a "life" of its own and a home-based business can be more real to the business owner than anything else in their lives.

However, there is also a dark side to a home-based business, especially one that is failing miserably. Part of being successful within a work-at-home dream also means knowing "when" to quit, or "fold". A home-based business can be like a game of cards, when the "losses" exceed the "wins", it may be time to give up on the business and either start another one, or look into other forms of outside employment.

It has been said, "that most entrepreneurs fail three to five times" before they actually start a business that succeeds. Although it is imperative that entrepreneurs be persistent, not being able to accept failure, when it is obvious that failure has occurred, can be extremely detrimental.

So, how does an entrepreneur "know" when it is time to give up or when they should continue? Simple, the amount of actual "suffering" needs to be measured. The following "suffering measurement" should take into account:

1. What type of debt the entrepreneur is accruing, and how many bills and necessary needs are being neglected. No one should live without food, clothing, shelter or the necessary medical care needed for a gratifying life. If a home-based business is constantly leaving the business owner without funds with which to sustain life, then it is probably time to quit.

2. What type of emotional pain is the entrepreneur facing? If the business has become so stressful because of mounting debt, or the entrepreneur's family is turning against them because of the business, then it is probably time to quit.

3. If there is a chance of losing a home or other holdings and property because of the bills engendered during the business, then it is probably time to quit.

4. If the frustration of having the business and handling the day to day operations surrounding the business is greater than the pleasure of owning the business, then it is probably time to quit.

Notice I have only mentioned the fact that it is "probably time to quit". No one but the actual business owner can sufficiently measure when a business should be declared a failure and when they, the business owner, should walk away.

Let's face it, even older businesses can face renewed challenges to their survival. Markets can change drastically sometimes, seemingly overnight. Consumer behavior also can change quickly. Newer businesses can face start-up challenges, but older businesses can encounter significant "bumps in the road" to business success as well.

All the above factors need to be weighed carefully before deciding either to "quit" or "stay" with the home-based business.

There are some methods that can be successful for alleviating some of the financial and emotional stress that accompanies a failing business:

1. An outside source of employment can be taken "temporarily", and the business can be worked on "part-time" in an entrepreneur's free time.

2. Loans and grants can be taken to alleviate financial strains until the business becomes solvent.

3. The entrepreneur can enlist the aid of family and friends, by allowing them to "buy into" the business, or by forming an LLC (Limited Liability Corporation), wherein the business owner is no longer solely responsible for debts or liabilities. Most new business owners start with a Sole Proprietorship model, so switching to the more encompassing LLC may indeed aid the business in its quest for survival.

4. Business owners can "downsize" their expenditures, both in the business, and in their personal lives. Downsizing of expenditures can literally save thousands per month and may indeed "save" the business from ruin!

In reality, there is no "shame" in failure. Failure at anything only teaches valuable lessons, lessons that may be incorporated into success at another time! If you're suffering in your home-based business, don't allow pride to stop you from admitting defeat and moving forward in another area of life! That's what being an entrepreneur is really all about.

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Vishal P. Rao is the owner of Work at Home Forum, an online community of people who work from home.
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How to Tackle the Three Major Stresses Associated with Every Home-Based Business

Owning your own home-based business is by and large a very rewarding, exciting endeavor. You can set your own schedule, and be where you want, when you want. You can oftentimes forego the commute to a "regular job" and save money on gas and other "niceties" that are expensive in the work-a-day world, such as lunches, parking fees, etc.

There are unexpected pitfalls and disadvantages, though, in the owning and operating of a home-based business. Some are psychological, some are emotional, and others are purely physical. The unexpected stresses of a home-based business are really one of the major obstacles that need to be overcome by business owners. Many new business owners are unprepared for just how much stress is involved, actually.

Home-based business stresses usually fall into three overall categories:

1. Psychological : Employees, Finances, Legal, and Operations

2. Emotional: Family, Friends, Change of Personal Routines, Personal Disruptions, Isolation

3. Physical: Sedentary Lifestyle, Poor Eating Habits, Overwork

Many business owners, in order to prevent the psychological stress will have plans in place for dealing with these particular stress factors, prior to their occurrence. This is a proactive approach that is infinitely better than having a reactive approach to these occurrences.

Each business owner should have a financial plan in place for the times when orders or clients are few and far between (slow times), as well as a good accountant to call when necessary. Each business owner should also have a lawyer who they trust and can turn to for advice if necessary (we do live in a very litigious society). And each business owner should have a plan for sickness among employees and hiring and firing protocols firmly in place. Machinery and replacement of business supplies should also be well planned in advance, and purchased according to well laid out plans for expenditures.

Leadership skills will need to be developed, as a new business owner who is used to being part of a team, will find working alone and "being in charge" a somewhat difficult transition at first. Books on leadership skills abound and it is a good idea to do readings on the development of these to proactively avoid the psychological stress that comes with this change in roles. Working alone and making decisions alone is quite different from the conformity and decisions made within a group.

If a proactive approach is taken, the psychological stresses of a new business can easily be prevented, or at least lessened.

The emotional stresses of a home-based business are usually a bit more difficult to ascertain and tackle when they occur. Some of these stress factors can come directly from well-meaning family and friends, unfortunately, and the approach is of course, much different. Since a home-based business is directly tied usually to the home life of an individual, there is less chance to escape these stresses, than with a traditional method of employment. A new birth in a family, a death of a loved one, illness, or simply a change of schedule of another family member, can greatly impact the daily workings and routine of a home-based business.

In addition, family and friends may view the business owner as "being at their disposal" all day now, as the business owner is now "home" much of the time. These well meaning individuals may call or visit all the time, and also expect the business owner to take care of their needs before the needs of the business. This is simple human nature, but is very distracting for the business owner. The only way this can be successfully overcome is to make plans well ahead of time for any changes in routine, if possible, and adjust the schedule accordingly as the changes occur. Well meaning family and friends need to be told with certainty that there are "business hours" and "personal hours" and a business owner needs to remain firm in their resolve in regard to these issues.

Stressing over emotional stress will just escalate an already stressful situation.

Another unexpected emotional stress comes many times from the feeling of isolation and loneliness that business owners may experience. Business owners many times are unprepared for the time they now find they spend alone within the parameters of their home-based businesses. A home-based business owner, while relieved to leave the workforce, sometimes does not realize that the workforce provided social opportunities that are now missing from their lives. Many hours may be spent alone each day, which can lead to loneliness and even depression in some cases.

The best approach to combating this type of isolation is to actively plan social opportunities. Planned outings with family and friends should be made regularly. Business owners may also join community groups that expose them to other business owners or others within the community. The local Chamber of Commerce and other volunteer groups are a great way to make connections for the business and also enhance the social experiences of business owners. No one can exist in a void, so the social aspects of a business can't be ignored.

Finally, owning and operating your own home-based business brings with it some purely physical stresses. Like most office jobs, a home-based business can lead to a more sedentary lifestyle, as owners may spend most of their days in the running of the business, either slumped in an office chair, or hunched over a computer, depending upon the requirements of the business. Because of the long hours involved in any business, business owners may also eat "on the run", grabbing whatever is at their disposal, rather than planning meals, which compromises their nutrition. The sedentary lifestyle and bad eating habits can lead to weight gain and other physical ailments associated with poor eating habits and sedentary lifestyles: high cholesterol, lack of energy, loss of muscle tone, and a deficiency of vitamin D from being indoors more than usual.

The sedentary lifestyle is the easiest however, of the stresses to avoid or to change. All it takes is a dedication to an exercise routine that includes some form of daily physical exercise, and an adherence to a diet that is well planned and nutritious. Just some planning is needed and some will power in order to stay focused on achieving physical activity daily and good nutrition. It would be beneficial, if at all possible, to join a gym or health club, as the physical and emotional stresses can be avoided by belonging to one, as a gym also provides social opportunities. Even a simple walk each day can increase exercise, exposure to sunlight, and create social opportunities.

A tendency to do too much each day, is a syndrome many business owners fall prey to also. Overwork can leave anyone run down, and open to many diseases as the immune system becomes compromised. A business owner is of course, very excited and energetic about the business, which can lead into this syndrome of overwork. A schedule should be maintained to combat this syndrome, with set hours for "doing business" and set hours for "relaxation" included in each day. Trying to do too much all the time just leads business owners into a decrease of productivity, rather than an increase of productivity.

As you can see, having a home-based business, while very rewarding in many ways, can have many deleterious effects on the physical, mental and emotional states of business owners. Many business owners fail to plan for these changes, and yet, if planning is done, the negative effects can be minimized to a great degree.