Starting A Business? Here’s The Best One To Start

A lot of people unknowingly take the difficult road to success when starting a business. They invest in business ventures that require a large up-front investment, often with no proven market to sell to.

I’m sure you’ve heard of people spending hundreds of thousands of dollars just to get a business started. What they don’t realize is that there are just as many lucrative businesses that can be started with little to no start-up cost.

When starting a business, the best business you can start is one that requires little to no starting capital. The reason is you have a better chance of succeeding, and also, there’s more money left in each sales dollar for your profits after you pay any business expenses you may have.

This doesn’t mean that a business with high start-up costs is an unprofitable business. Instead, such a business can be highly profitable, if operated correctly. But to be as safe as possible, it is best that you start with a low start-up business. Once you gain some experience working in your own business, then consider a high investment business, if you wish.

The advantage to starting a low-cost business is that you can easily get started on money you save from your regular salary. However, with some businesses, you may need to invest in some inventory — items you will offer for sale– or marketing materials you may need to advertise your business.

But to keep your start-up costs as low as possible, and to better ensure your success, it is best to:

-Obtain orders before you invest in inventory.

-Use borrowed money for inventory purchases.

Before you get started, though, make sure there is profit potential, and a demand for your business. Why work in a low profit potential business when you can just as easily work in a high potential profit business? And why spend thousands of dollars to start a business, when in most cases, less than $300 will do?

If you put more of yourself and less of your money into your new business, you will be in profit sooner. If you must start a business, go for one that is simple, fast, and low-cost.

Starting a business involves you, your mind, and your energy. If you’re willing to invest a large amount of yourself and time in your business, you have a greater chance of success. Once you recognize the start-up and mental costs of starting and running a business, you’re well on your way towards wealth.

Thousands of people dream of starting a business and making money, but their dreams never materialize. That’s because they never take the time to analyze and put their quest for wealth into action.

So when starting a business, the best business you can start, is one with little to no start-up costs that brings in at least $2,000 per week.

New Home Based Business Idea

So, you have a new home based business idea rolling around in your head and you are bursting to get started. It is time to harness that energy and create the business you have been dreaming about. Starting a business is fairly simple as long as you know the basics. Once you know what you need to do to start a business for the long term, then you can create the business of your dreams?

The first thing you should consider when you get that new home based business idea is its marketability. Are you going to be able to sell what you have in mind? Are people going to buy your item or service? Take a close look at the market for your new home based business idea to see what competition is out there and if people are willing to buy what you have to offer. If you find that your new home based business idea is not all that new, you may need to narrow your idea to a certain niche. Find the area that needs what you have to offer the most and that is the right area for your new home based business idea.

Then check the laws in your state. Depending on your new home based business idea, you want to make sure you have the right licenses and certification to offer your product or service. For instance, if you are opening a day care center from your home, you may need the state to come out and do an inspection. You may need to fill out special paperwork. In many areas you are required to obtain a business license for your new home based business idea. Check with your municipality to see what is required. A business license is usually inexpensive.

Another good idea is to create a business plan for your new home based business idea. Why would you need to put it on paper? A business plan allows you to create goals and values for your new home based business idea. It sets down on paper the concepts that you may find useful in the future. It allows you to see how you want to run your business and how you are going to make it grow. It does not take long to write a business plan, but it is usually one of your most useful tools for making your new home based business idea a reality.

As you are creating your business plan for your new home based business idea, you will be taking some time to assess your financial needs. You need to determine your operating costs and if you will need to obtain a business loan to get your new home based business idea up and running. If you apply for loans or look for investors you will definitely need a business plan. Take a look in the long and short term to decide what your new home based business plan will require.

Advertising is also an important part of making your new home based business idea a reality. You may not think it is important, but how will anyone know you exist if you do not advertise your products or services? One of the most inexpensive and easiest ways to advertise your business is to create a website. The internet is quickly becoming the primary way people find out about services and products, so a website is no longer an option for your new home based business idea. If you are operating on a budget you can create a minimal website for very little money. If you want a top-notch website for your new home based business idea you can go so far as to hire designers for your site.

Advertising also means putting yourself out there and marketing your business all the time. Join networking groups and send out flyers. If it is affordable, you can place advertisements in newspapers and magazines. You do not need to do everything at once, as you need to stay within your budget, but always keep your eye on expanding your new home based business idea.

Take your time to build up your new home based business idea right. You are probably fairly excited over the prospect of this new business venture, and you need to take that excitement and turn it into productivity to create the business you have in mind.

Learn more about New Home Based Business Idea here.

Legitimate Home Businesses – How to Find the Best Opportunity For You

What is it that differentiates a legitimate home business opportunity from the rest of the garbage out there and how can you find the one that is clearly the best one for you?

Well, the answer is simple, but not blatantly obvious. The main reason that most people have a difficult time finding a top-tier home business opportunity is because most of what they stumble into nowadays doesn’t possess the most important critical success factors that are absolutely necessary to insure the highest probability of success for the incoming entrepreneur.

I’ve spent the past six years trying out different home businesses. Some had good potential, most didn’t. I can honestly say that the ones that did have potential but didn’t work for me was because those particular businesses weren’t a good fit for me personally.

So how can you spot a great (not good, but GREAT) home business opportunity for you?

Here are the critical success factors that I’ve found to be of prime importance to insure the highest probability of success in a home business for you:

Define Your Dream - This might sound silly, but it’s absolutely the first step you should take before researching potential home business candidates. Why? Well, not articulating what it is you are going to be working for is, in my opinion, a waste of time. It can be as simple as “I want to work for 6 months and then vacation for one month” or “I want to earn $40,000 per month for the next 5 years and then sail around the world for 10 months” or “I want to create multiple streams of income, most of which are on auto-pilot, so that I can do whatever I want, whenever I want.” Whatever it is, it’s not silly – it’s your dream! But without having a clear picture of what that dream is, most people tend not to be very successful in their businesses because the major motivating factor isn’t there.

“Home Business” or “Work From Home” – Most people don’t realize that there is a humungous difference between the two. A legitimate home business opportunity will provide you with a program or system that enables you to build a business that does not require you to be anywhere outside of your home office to be successful. Work-from-home opportunities simply provide different “jobs” that enable you to earn income from home, typically paying on a batch-job basis (i.e., earn $20 for every 1,000 envelopes you stuff). Big difference here, so make sure your work-from-home program isn’t cloaked as a home business opportunity.

Find a Mentor – This is one of the most important steps you’ll ever take after getting a good grasp on what it is you’re working toward. You should find someone who (a) you can trust, (b) has the expertise to guide you, coach you, and mentor you, (c) has already achieved the results you are seeking, (d) has a proven system that you can leverage to build a profitable business as quickly and efficiently as possible, (e) has a vested interest in your success (i.e., they get paid every time you do), and (f) has good duplication on his or her team – if others are also having success with this mentor, then ask for an introduction to a few of them.

Choose Top-Tier Products - This is where most home business opportunities fall short. There are many companies that promote larger-than-life income opportunities for a business that distributes products that are nothing more than a cover-up for a money game. In short, don’t just look for products; look for products that you feel have value that is much greater than their price tags. Ask what percentage of products sold are retail versus to other business owners who joined the program. That’s good proof you’re dealing with great products.

Leverage A Turnkey System - Successful home business owners all have one thing in common: they leverage a system that has a proven, results-oriented track record. Look for a company that will be able to provide you with a system that you can easily and quickly plug into and not have to be out on your own with regard to lead generation. If you’re directed to rely on approaching your friends and family, purchased leads or handing out flyers – just run as quickly as you can in the other direction! You need to have access to a turnkey system that will bring qualified leads to you. This is a very common weak link. What you’re essentially after here is a system that eliminates 90-95% of the variables that cause most businesses to fail.

Find A Company With A Solid Foundation – If you’re going to make a long term commitment to a successful home-based business, it’s absolutely critical that the company you’re relying on for your business has a solid foundation with respect to long term vision and overall business plans. One thing to look out for is if the company is based outside of the country, hiding from the scrutiny of the government. Search the Better Business Bureau for unsettled complaints. Compare the number of complaints to the company’s competitors to give yourself a benchmark of the quality of this company. Obviously, every company has at least some complaints (we consumers don’t speak much about the good, but we love to scream about the bad!). Simply do your due diligence and be careful!

Choose The Right Business Model – Let’s face it, there are many ways to build a business, and if you choose one that will give you the highest probability of success, it will save you a lot of heartache and pain. My personal preference is to find a reputable direct sales company. I am not a fan of multi-level marketing (MLM) models primarily because they require you to recruit thousands of people before you can start collecting decent commission checks. The attrition is huge and the commissions are typically very small, which is why building a very large team is required. With a direct sales model, when you combine a high quality product that pays a substantial commission with a proven turnkey system, you’re giving yourself optimal ingredients for success.

Training, Support and Professional Development – Point blank, you’re going to need all three. There is going to be a learning curve with the products, the system, your marketing, and growing your business. You need real people who will provide you with good training to get you up and running quickly, support in all stages of the sales cycle, and development (both personal and professional). The benefits to your business with the right dose of these three components will catapult your business to where you need it to be.

Part Time or Full Time - During your planning stage, you’ll need to assess whether you’re going to build your business on a part-time basis while still working at your current “job” or business or if you’re going to jump into it full time. This is needs to be entirely up to you based on your current financial situation and based on your goals and objectives. Do not, under any circumstances, get coaxed into going full time right out of the gates if it’s going to put you in any financial distress. If the business opportunity you’re looking into is urging you to go full time, just walk away. It’s your business and you can do whatever you want to with it. Most of the time, starting off part time is the best option since it allows you to maintain the income stream you’re currently used to and use that to finance your business in the beginning months until you develop an income stream from your home business that allows you to step away from your job and realize your dreams.

At the end of the day, trust your intuition. Your gut feeling can be one of your most trustworthy sources of information when it comes to choosing the right home business for you. I’m sure you know the adage, “If it doesn’t feel right, it probably isn’t.

So define your dream, find the best home business opportunity out there, and I’ll see you at the top!

About Frank Saffoori:

Frank is an award-winning marketing expert with over 10 years experience in developing results-driven marketing campaigns and systems that have helped hundreds of entrepreneurs and other professionals take their businesses to the next level. With a Bachelor’s in Marketing and a Master’s in Business Administration, Frank left corporate America to pursue his life-long dream of working smarter than the average person in order to achieve true financial freedom so that he can afford the luxury of spending more time with his family and helping others turn their dreams into reality.