Quick Start Your Business With Passion

You may have your business idea already and you could be wondering what you should do. Either way this will be useful as you take the first steps to your new business.

We are going to show you how to create or develop potential ideas.

There is a major trend at the moment of people using their home as their base for either additional income or their entire business. The work at home business has become a powerful part of the US economy.

The reasons why are obvious. The cost of starting is very low. It’s fun to work out of your home. It’s also possible to be very flexible with time to enable you to fit your work in with other commitments such as family and kids.

What about you?

We’ve helped many with their new venture and there is a question that keeps coming up. What should I do? We steer them into three broad areas and away from one other.

What business is right for me?

1) Most people do well with what they know.

Look at what you’ve been doing over the past few years and it’s most likely that this is what you’ll excel at. If you’ve had zero retail experience, opening a shop may be more challenging for you than others.

If you decide to do something similar to what you’re involved in today, start being observant about the other aspects of the business that you may not be involved in. Remember that when you start your own business, it is exactly that. Your own.

Many people we have worked with have taken a skill or a role that they had previously and started doing that from their home. In fact, our own businesses have used services from people working at home, many times over the last ten years. Here are a few examples. Book keeping, web design, research, company naming, SEO (search engine optimization) and even a party.

The thing here was that all these people were using skills they already had. They added the art of networking and growing large contact lists and they did great work.

2) Follow your passion

We mentioned starting a business that you already understand. The second most likely area is from one of your hobbies or passions. Two people we know, both women, loved cooking and food. They started a business running cooking parties at people’s homes. They are having fun and doing exceptionally well. They did it for one of our business parties and it was a spectacular evening.

Think about what you care about. Food, photography, artisanal skills you may have. Maybe it’s kids, pets, health and fitness. We’ve seen all sorts of businesses grown here by people working at home. One lady we have helped runs a mountain bike training course. She took her passion and now runs weekends for women all across the US. She has sponsors and is doing just great.

Another was in the food business but had a passion for fitness. We already mentioned the catering parties. Again, run by two women out of their homes.

3) Take someone else’s idea

Many people start franchise businesses. With literally thousands of opportunities available this can be a good bet because the franchisor has developed the business and should be there to support you through the start up phase.

You won’t need as much experience, but you will need capital as you are buying that business. Expect to pay at least $10k and often much more.

What surprises most people we talk to is that they thought franchising was all about Burger joints. It’s not, there are literally thousands of different ideas.

We’ve helped people get into franchising. One of the biggest decisions is which franchise. We’ve seen printing, food, coffee, pet grooming….

4) A word of caution

We have encountered several multi level marketing (MLM) operations.

This is a pyramid of people who are passing their profits up to the top. You get access to “exciting” business opportunities, buy the firms high margin products and try to develop sales in your local area.

These can be selling a variety of products at people’s homes, health products, jewelry. Be very careful. We are not saying that you can’t make money in these schemes. However, our experience is almost 100% negative. People are working hard and seem to only be covering the costs of the products they have bought.

In fact a recent court case showed that one major MLM operation had less than 1% of it’s “distributors” earning commissions of any sorts. less then 1/10th of 1% were earning $100 per week! and get this 70% of new recruits dropped out!

Whatever your idea, you’ll need to research it thoroughly, understand your competition and develop a business plan. That plan will be even more important if you’re considering a bank loan or raising money from friends and family.

Sound business practices are not specific to any business ideas.

You don’t need to be a former business leader to start your own business. The most successful people are following their experience and their passion.

Be successful

Rob & Angelique