What are the most profitable home-based businesses?



Read More: Marketing

That’s a question lots of people have, especially now, when so many
folks are looking for a way to supplement their income, fight the
rising costs of day care by staying home with their children, or have
found themselves unemployed.

Unfortunately, when the average person begins searching Google, article
sites or forums for answers, what most often happens is they are either
inundated with links and pitches to join “the most profitable home business
in the industry” (that’s poised to be “the next industry giant”), or told
that they “must have” a particular tool or system in order to be successful.

For those just venturing into the home based business industry for
the first time, trying to find the opportunity or business that’s right
for them can be a daunting task.  

There are many solid companies with great products and commissions, but not
every company is right for every person.  If they’re not careful, they could
easily respond to the emotional message of a skilled presenter, spend all
their money and yet find themselves no further ahead than when they started.

But you want to have a profitable home based business and you want some
answers.  Honest answers to your questions;  Where do I begin? What should
I look for? Is one company better than another? Should I  pursue affiliate
marketing? What kinds of products are the “best ones” to sell? Etc...

My answer...Your home based business doesn’t begin with a product or a company.

It begins with YOU!

The most profitable home based business will likely be one based on
something that you love doing…something YOU’RE passionate about. And
given some thought, you’ll probably notice there’s more than one income
stream attached to it.  Create multiple “cash registers” all around you…
that way, when one isn’t doing so hot, you’ll have the others to keep you going.

For instance, if you are passionate about a healthy life style, you
could blog about it and become the “go-to” person for information on
the topic.  Then you could sell vitamins and weight loss products, sell
exercise programs, become an affiliate for tennis shoes, exercise clothing,
pedometers, etc. etc.  A real business (think of a store in your town)
has more than one item on the shelf to insure as many income streams as
possible.

So start by asking yourself, “What do I really like to do?”  Think,
“What do I (or would I) spend money on to do it?” and you’ll find income
streams.  Take the time to brainstorm, and you’ll no doubt find many ways
to turn what you love into a profitable business.

Then do a Google search to find resources and training on that topic.  
There’s also lots of free training on sites like YouTube and many
industry blogs and websites.

It bears mentioning again…you must be REALLY careful out there.  Many
people are only after the money that’s in your pocket, which is why you’ll
find affiliate links and pitches to join  deals peppered throughout the
answers you get to your questions. (sorry guys...I call ‘em as I see ‘em)

Remember…there is no “magic bullet” no matter how good it sounds.  
YOU’RE the one that has to put in the time and the effort, even if you
have purchased a $3500 program.

PLUS…I’m an advocate of free and/or very low cost tools and training.  
More on that another time.

You can get started in your home based business with a little self examination,
some homework and very little out of pocket expense.

Be careful out there…and good luck!!

 

For more articles like this one, visit my website.  And remember to sign up for insider information while you're there.

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About the Author: Cathie Heath

Member Since: 05/01/2009

I'm a Distributor For:: Magnetic Sponsoring

Other Company: Heath Marketing

Industry: Consulting

Primary Web Site: http://www.cathieheath.com

Comments



Very good advice, Cathie!

I didn't used to be a fan of more than one opportunity at a time. I thought you'd lose focus and I guess that's true to a point. But having been burned several times and left to start over, I totally agree with you not to put one's eggs all in one basket.

Ilka Flood — Tue, 02/08/2011 - 5:12pm

It begins with YOU!

"Remember…there is no “magic bullet” no matter how good it sounds.
YOU’RE the one that has to put in the time and the effort, even if you have purchased a $3500 program." - That's a beautiful bit of reality there Cathie, the person you look in the mirror every day is the one that must show up, all of the time. Great article.

Eric Smith — Wed, 02/09/2011 - 5:32pm

Great!

Yes Cathie! One of my leaders always says that network marketing is a personal development journey with a compensation plan attached! Love it!

Dimple Arora — Wed, 02/09/2011 - 8:23pm

Balance and Diversity

I can understand the argument for focusing on one thing - there really is SO much work involved in launching a new business, particularly if, as in network marketing, it is such a different way of doing business than what we've had drilled into our heads for decades of school and work life.

But I think the argument for diversification makes as much sense in this network / internet marketing world as it does in investments, education or health. No single solution is absolutely foolproof and reliable. Companies come and trends change. I remember recently when a particular beverage was hit with a negative FDA report on one of its critical ingredients. Sales dropped, distributors fled... and it was later revealed that the report did not finger the particular ingredient as it was constituted in the product.

If you really liked the product, and had multiple income streams, you could have weathered the storm, and perhaps come out ahead with a thinned out herd of distributors. If it's your one and only meal ticket... you're faced with a tough choice.

Good points made in a very easy and enjoyable read.

Gregg Moscoe
www.BootCampCoaching.com

Gregg Moscoe — Wed, 02/09/2011 - 8:24pm

Very True!

People join people and developing your own brand does matter. I appreciate the point about how you'll 'have to put forth effort even if you've purchased a 3,500 dollar course'. It's also good that you cautioned individuals just starting out, because who of us hasn't been ripped off on the Internet. Good article Cathie, and very true to life.

Mike Johnston — Wed, 02/09/2011 - 8:46pm

Profitable Ventures

Hey Cathie,
Very good article and good advise. We all need to find our own niche, no matter what we do. Be it internet marketing or our everyday JOB. If we are not passionate about what we are doing, you might as well hang it up. You will never accomplish much in life. Keep up the great posts.
Bud Corwin
bud85296@yahoo.com

Irvon (Bud) Corwin — Wed, 02/09/2011 - 9:48pm

But are you making this mistake? . . .

Great article but you've heard the saying success leaves clues.

You can be the best maker & marketer of 8 track tapes with ton's of passion & commitment but because their is no market for 8 track tapes it won't be profitable.

It's been proven time & time again that their are 6 concept's you MUST have in any home business to be successful.

There's a really great FREE Ebook that goes into simple but profound detail on what they are so anyone can make the right choices for them.

You can grab a copy of it here=> http://dld.bz/eU3e .

Love to hear how this helps

Warren Little — Wed, 02/09/2011 - 10:52pm

Selling the Accessories

I really appreciate all your thoughtful comments.

So glad you brought up the necessity of knowing
your market, Warren. What it needs, wants, etc.

That one concept is CRITICAL and must be clarified
in every business owner's mind. (see my article here
on Better Networker, "You Have to Know Where Your
Target Is if Want to Hit the Bullseye")

And yes, for me, diversification is just good business.
For instance, if I owned a ladies dress shop, I'd also
sell handbags, shoes, stockings, jewelry, scarves, etc.
You KNOW it's the accessories that make the outfit! ;)

At the end of the day, however, the "best" and "most
profitable" business begins and ends with you.

Cathie Heath — Fri, 02/11/2011 - 10:43am

Totally agree

Did you hear how Warren Buffet is picking his investments?
If the peoples looks nice to him...

jacov gariani — Sat, 02/12/2011 - 12:13am

Work As Fun

Yes, when you follow something that you have passion for, you see yourself breaking all the barriers without knowing that you are surmount challenges. For anybody who wants to start a home business, you need to apply what Cathie recommended. She has shown us another nice way to spill the beans.

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Email: Cathie [at] CathieHeath [dot] com
Phone: 419-874-4410
Skype: Cathie.Heath3