There are many ways of making money from a variety of sources, but the focus of this article is making it via the Internet or online by working from home.
It's about using skills and knowledge of promoting and advertising to put offers in front of potential customers and enticing them to buy with the reward being a commission from each sale or the whole proceeds if it is your own product or service you are offering.
This is a large topic and to make it easier to follow, I have broken it down into a series of informative articles in a collection linked to this lead article.
Let's start by looking at what it means to set up your own money making business that you will work at from the comfort of your own home.
Setting Up a Home Based Business
More and more people are rebelling against institution and ditching the 9-5 office life for a job based at home. A large number of the people who work from home choose to go it alone and set up their own enterprise, often making their money via the internet.
It is not an easy path however, and people who choose to work from home thinking they will get to relax a bit often run into some key problems very quickly. Let's take a look a three common issues.
Not Being Taken Seriously
There will always be purists who believe that companies should be run from formal offices. They are unlikely to want to give the light to day to businesses registered at a domestic address.
With this in mind, trying to build up contacts and win business can be difficult for some home-based businesses as they are not taken seriously and sometimes other companies are not happy sending documents or products to home addresses.
For a great many B2B companies, meeting clients face to face is very important part of what they do. Conducting meetings in your kitchen is not always seen as the most professional option and many feel they are jeopardising their business but not impressing those they meet.
To avoid this, more home based businesses are conducting their meetings and corporate hospitality at external locations. For example, they might arrange a Henley Regatta hospitality day to pitch to a client on neutral territory.
Mixing Work and Leisure
Trying to juggle work time and free time is one of the most common complaints from home-based business owners.
This takes a little getting used to but can cause problems with family life and stress if a clear structure is not put in place between time committed to the business and time allocated to relaxing and spending time with loved ones.
Motivation to Work Alone
Working on your own can for some people seem like an amazing way to work, while for others, it presents a feeling of isolation. In the latter case, it can be difficult to drum up the motivation to actually throw yourself into the work you need to do in order to start the cash river flowing in your direction.
The thought of generating cash in itself can be a bog motivator to many people, while for others it just is not enough. When this is the case, it is necessary to introduce other factors that might get some interest going.
Being faced with large bills to pay and no money in the bank is, not unsurprisingly a hugely de-motivating instance that only causes depression and a feeling of hopelessness. This is the opposite of what we want.
Better to start your new business with a clean sheet and preferably some funds in the bank to see you through the first 6-9 months while you are getting things off the ground. It takes time to build websites, promote them and start the income flowing.
If you start it right, you'll go on in a positive frame of mine and when the little results start to manifest, they can be hugely motivating to make them grow into larger and larger packets of virtual cash that you can bank and spend!
Additional titles in this section can be found below:
- Affiliate Marketing: A Beginner's Guide
- How to Make Money Doing Online Surveys
- Changing Fortunes
- How to Produce Killer Sales Copy (in 3 Easy Steps)