Can One Be Financially Free With A Home Business?
When you start out in home business, the first question that probably comes to mind is: “will I ever build my business to earn enough money to become financially free?” It doesn’t matter what the business, financial freedom doesn’t just happen overnight. If your business is selling products from your own warehouse or factory, selling e-books (written by you or reselling), digital download products, or offering a valuable service, there are some definite “musts” for success.
To Be Financially Free You Must RESEARCH Your Business Idea First!
If you can’t think of a product or service to offer, you can always opt for a “ready-made” home business. This type of business is one that is set up by another individual or company and you are trained to sell their products to others. This can be in affiliate marketing or network marketing (MLM), whatever you’re preference. But before delving into this kind of business, make sure you research the opportunities available. Be sure to find out what types of products and services you’ll be able to offer to your clients.
Don’t jump into every “good opportunity” you see. Make sure you read what each business opportunity has to offer. Compare each one and check out their value-added services and the investment required. This will include what’s involved to join, promote, and continue with the business.
Make sure you choose a home business opportunity that you feel comfortable with and will enjoy doing for a long time. If you enjoy your business, you’re more likely to succeed and become financially free.
Choose A Business That Fits Your Personality
Not every business type will be right for you. Choose one that fits your personality. If you enjoy sales and are very good at it, then go for a business that allows you to interact with people by phone, e-mail, or face to face. This business may be direct sales to the end consumer, business-to-business sales, or networking to help others achieve financial freedom.
If you prefer to promote online and do your own thing without much interaction, start a home business that allows you to do this. If you want to partner with a company to promote their products or services, find out if they will close the sales for you. If they will do this, you’ll have the freedom to promote and build the business doing what you love most.
Work Diligently from Home
Now you’ve decided on the type of business, it’s time to work! Don’t assume that working from home will be easy. As with any other business, you must really work at it. Put together a business plan setting realistic goals to earn money and achieve financial freedom over time.
Then look for ways to promote your business for real results. Beware of promotional companies that sound too good to be true. There are some very dependable promotional companies, but there are also many scams. Research a company well before paying into their programs. Look for those that have been around a while and have a good reputation. Ask questions in business related forums to get advice and to find resources on promotion.
Create a Steady Cash System
When you’ve promoted your business for a while and start getting sales, work out the things you need to do to build up a steady cash system for the future. Find ways to maximize your efforts. Develop and publish more content on your website to attract additional search engine traffic. Find a relevant “giveaway” to build up an email list of people you can promote your products and services to. Keep adding products or services to get repeat business. These will help you continue with success for the long run. Your income will be steady and you’ll be able to make money on a full-time basis.
Continuing Education
Learn all you can about your business and products. If you’re selling e-books written by others, be sure to read them so you’ll know the quality and details of the items you are selling. If offering a service, learn how to offer it in the best way possible.
Don’t forget to learn the marketing skills you will need too. You can easily find online home study courses to help you learn new trades or improve on your skills.
The more you know about your business and products, the better you’ll be able to promote them and help your customers when they have questions.
By following these simple steps, you’ll be able to start a home business that brings you satisfaction each day and you will be on the way to being financially free.
Barrie Evans
Hi Barrie, A lot of what you say is just as true for an offline business, but the one thing that I think is most difficult when working from home is making sure you actually work! I’ve read so many accounts of people either getting distracted simply because they’re at home and can achieve a host of other home related tasks, to people being constantly disturbed by neighbours and friends because they know they are at home. I do believe you can make money working from home, indeed.
Enjoy the journey!
Yes, Mandy. Distraction can be a killer!
Hi Barrie,
Choosing a home business opportunity it must match your personality and what you prefer doing.
Not everyone can manage a home business. It does take a lot of self motivation.
I liked that you said find a relevant giveaway to build up your email list.Content upgrade lead magnets are
new and popular now. Adding services and products to your list you will steadly make a full- time income.
Kathryn Maclean recently posted…WordPress or Squarespace which is best for a New Blog?
Thanks Kathryn
Hi Barry,
All great ideas. But one thing is needed where many fall SHORT – committment and being willing to do the boring stuff.It’s challenging to be your own boss, but we;; worth it .. 🙂
Willingness to do whatever it takes, however boring is something we all need to have. Thanks
Barrie,
Yes, one can make a lot of money with a home business but many of us don’t have the staying power or the personality to pull it off. It requires a certain amount of aggression and determination. You have to make those phone calls, follow up with prospective buyers, send out those emails, make those social media posts, study about your company and the products, answer questions, advertise, etc., etc.
Yes, you can make some good money but i would not recommend quitting your day job to do a home business full time until it starts to bring you more money than your day job. We need to pay bills and we need to have enough money for basics. Without that, it is hard to concentrate and do all the things you need to do to succeed in your home business.
But so many people have thrived over time. Those who commit to the process and keep taking steps and just keep on doing it, have a great chance of finally having success.
Warmly,
Dr. erica
Dr. Erica Goodstone recently posted…What Do MEN Really Want?
I agree Erica. Thank you
Thank you very much, this is very helpful
Glad you found it helpful
Hi Barrie,
I think the most important thing is to choose a business to match your personality. There’s no way I’m going to be prospecting on the phone, so online works just fine for me. I probably won’t get as rich as more voluble marketers, but that’s OK with me.
Also, people should match the time they have available to their ambitions, otherwise stress will follow. my online business is part-time, so my offline business has to come first – because, currently, that’s what’s paying the bills!
Finally – match your skills. producing marketing materials doesn’t come easily to me, so I prefer a ready-made business, otherwise I will be spending forever trying to produce marketing materials instead of helping my team.
Very helpful post of points to consider when starting a business.
Joy – Blogging After Dark
Joy Healey recently posted…Challenges Starting An Online Business
Very important point about choosing your business Joy.
after trying various mlm opportunities i decided they weren’t for me. Instead I stick to tried and trusted affiliate products and recently a couple of online stores. I’m also working on developing my own digital products (Not ebooks). It’s important not to give up and to keep on learning.
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I am trying to start as well, i found it very difficult to find a way to learn how to build your page to sell your own products (in my case, guides), i already did the difficult part (writing them), the problem is that i don’t know how to be paid, any advice?
Hi Kyle,
There are many online marketing courses available. Some are free. TO help you I would need to know what the guides are about and your target audience.
Thank you so so much Barrie for sharing such wonderful information. i’m a newbie and this is exactly what i’ve been looking for my future career. best wishes for you.
Thanks a lot
If you like something and you think you can make a home BUSINESS FROM THIS YOU SHOULD TAKE THE RISK, BUT TO HAVE SUCCESS YOU WILL HAVE TO START LEARNING MORE ABOUT THE SUBJECT, ESPECIALLY IF YOU DON’T HANDLE THE DOMAIN VERY WELL. gREAT ARTICLE AND REALLY MAKES YOU WANT TO START YOUR OWN BUSINESS.
Thank you for your input
Great Tips! Such a great information.
I agree with you that ”Financial freedom doesn’t just happen overnight.” I have always been facing problems with Can One Be Financially Free With A Home Business and was trying to hire someone to help me.
I will tweet your post. Thanks a lot for sharing.
Thanks a lot!
Stefan
I found it straight forward on extra money income,quite hard and very beneficial blog without a lot of boring details. believe in hard work.. thank YOU SO MUCH..
hi Barrie evans sir,
Amazing post thanks for sharing very helpful ideas i like this choose right business which fits your personality.
keep up great work
One of the most important parts of financial freedom is retirement savings! So if youre business allows you to save for retirement, then youre set!
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hey barrie
thanks for the awesome post. i have been starting a new blog thinking of working from home. your article is just awesome & helped me correct few things too. (sorry for capslock…it came automated)
Hi Barrie,
The trend of working from home is growing at a rapid pace. With one of these great ideas, you can start a successful home-based business of your own.
Thanks for sharing Very helpful post of points to consider when starting a business.
As long as IT IS POPULAR. iT’S OKAY. 🙂
I think there are various examples of such people in our society. many people become financially free by successfully running a home-based. Thank you for your wonderful share.
Hiii Barrie,
Amazing article ! Thanks for sharing.
Hi Barrie,
Not all businesses can take you towards financial freedom. When we surveyed a group of start-up entrepreneurs in one of our events, we found that many entrepreneurs had traded a job for a business model that still relied on an hours-for-dollars work. They had not invested in home business ideas that would achieve financial independence over a period of time.Thanks for sharing this amazing article.