Top 10 Home Based Business Ideas in Today’s Digital World

A couple years ago I would have never thought about the top 10 home based business ideas; but like everything and everyone, things change. In today’s economy so many people are scared of starting a home business, but it really isn’t that bad. While you hear and see on TV that people are tightening their pocketbooks, there is one thing for sure; there is no recession on the internet.

There are millions of families that have been affected by the current global financial crisis. Some have lost their homes, their jobs and everything they have owned. Others are looking to build the backup plan or additional income to get them through the tough times. Many are turning to different home business ideas because they offer the flexibility, low cost and lower risks models compared to the traditional brick and mortar business.

Here is my list of what I consider the Top 10 Business Ideas and what they potentially involve:

Blogging – A very low cost of generating income from home; is on the internet and is individual that do this are known as “bloggers”. Blogging is very easy to set up, maintain and gives you the ability to write about topics that you like. There are millions and millions of people online reading a wide range of content on a daily basis. With blogs you could become very successful by attracting certain readers and offer them products and or services that help them. You could also “rent” out space on your blog to different marketers, which in turn provides you with additional income.

Home Based Franchise – The possibilities are near endless of starting a home based internet franchise; and many are recession proof. I have known people to start the own internet franchise but this is much more risky than joining a proven, time tested internet franchise. While an internet franchise can be a huge learning curve for many, I have found this as the most rewarding in more time for what I like to do but also the compensation is normally higher.

Home Based Tutor – Although you may not have thought about this as an option, it has become a very viable one. No matter how bad the economy gets, people are always looking for additional education to enhance the situation that they are in. Many parents are doing everything in their power to obtain the finest education for their children, sometimes even taking out a second mortgage on their home. With the standard education; many people are obtaining tutors to give themselves and their children an educated edge over others. As unemployment rises, many are going back to school and they require some additional tutoring to help with the learning curve.

A Food Home Business – No matter how grim it gets, people still have to eat and many are starting to cut down the amount of times that they go out to restaurants. With a food home business, you want to focus on a niche that is still needed year after year. Many people start a bakery offering wedding cakes, birthday cakes and other different treats involving chocolate. The chocolate industry is booming due to the satisfaction it gives to people and the lower cost compared to other treats.

A Staging Home Business – With the real estate industry plummeting at an uncontrollable rate, home owners need help staging their property to sale. Home owners trying to sell their homes are turning to home staging experts to prep the home to its highest potential. Not only do home owners request home stagers but also banks and real estate agents; to prep and sell the property quickly.

Virtual Assistant- Many companies are trying to reduce their operating costs while improving their profits. Companies have been and will continue to outsource, which gives you the ability to become a virtual assistant. A virtual assistant provides assistance and support to businesses, entrepreneurs, executives and really anyone that needs help but does not want to hire a full time employee. This is a very low cost in high demand home based business idea.

Caregiver – no matter what happens, we are all getting older and caring for the elderly is now and always going to be in high demand. Many of the individuals now that need adult day care are also tightening their wallets but there will come a time that they need additional care and support that you could provide.

Trading Assistants – During a recession more and more people start selling their personal belongings to get by for another month or two. Many people have heard of eBay and Craigslist, the problem lies with many not feeling competent enough to use them. Many people believe it or not, still do not have an email address or never used a computer. For this reason trading assistants exist, they help sell other peoples products in which they obtain a percentage of the sale price.

Cosmetics Consultant – the demand for cosmetics will always be there, mo matter what. Many times during the toughest times is when products like cosmetics are at their peak. There are two primary reasons for this:

People want to continue to enhance their visual appeal to maintain their employment or to gain new employment.

It makes people feel good about themselves, improving self confidence in turn improving productivity.

Affiliate Marketing – This is the home based business idea that many people use online and offline the same. This has become very popular and has exploded as unemployment rises and the recession continues. Becoming an affiliate marketer allows you to make a great deal of money while working from home; selling products like cosmetics, vitamins, soap, educational products and many more.

While I cannot say that I have tried all of the Top 10 Home Based Business Ideas, I can say that I have been involved with a few of them. All of these ideas have pro’s and con’s, each has its own level of risks and rewards. I have had my home based business for quite awhile now and love the freedom and the financial benefits that come along with it.

Home Based Business Ideas – Vital Informational Tips

Your home based business ideas should come comfortably for you in the relaxed atmosphere of your home as opposed to working in the hectic environment of a job space. You needn’t have to worry about the traffic jams on the road. You can fix your work schedule and be close to your family at the same time. It’s no wonder why people think about starting a home based business instead of working at the conventional job forever.

However, before quitting your paying job, you need to do a reality check. You need to make sure that working from home really fits your personality. Will you be able to work from home alone and miss all the companionship of your fellow workers? Will you be able to generate the needed ideas to keep your business afloat? Do you have the drive to keep your nose to the grindstone in an unsupervised environment? These and other similar questions are one you should ask your self and feel comfortable in getting an affirmative answer back from yourself, before you commit to chasing your home based business ideas.

Complacency will surely start creeping in and you may not be able to work the way you should. Very soon the work will take the back seat to all other domestic concerns.

Tip: Creating an ideal work place or workstation inside your home can help you to build the right attitude which you may lack otherwise. The right attitude with the right posture is extremely important and necessary for home workers. A table, a chair, you desktop or laptop, a printer, a telephone, some shelves and a filing system are the basic components required for a home business. A quite atmosphere will also be necessary to help you develop your home based business ideas.

Important Tips about Your Workplace

• Choose a workplace in your home which has minimal household distractions
• Keep your workplace clean and tidy so that you feel like working there
• Filing and organizing your documents will also be critical to your success.

After you have set up the work area, the second important thing to consider is the type of home based business you want to start. You’ll need to use common sense while searching for the best business opportunity for you. Look before you leap because there are many dangerous curves online. You should select a business that is closely tied to something that you have a strong passion for, such as golf, shoes, jewelry, flying, and etc.

Tip: Before investing money in developing your home based business ideas, you need to do your due diligence and research very carefully. Your previous experience, knowledge and your research work should help you to make the right decision.

Knowledge is Power

Your previous acquired knowledge and skills should become your strength on which to form the basis for your online success. Converting your hobby into your home business opportunity may work out well for you because the motivation and passion factors are already there.

An integral component of managing a successful internet business will be your ability to develop your marketing skills.

Important Tips to Improve your Marketing Skills

• Find practical ways of promoting your own website
• Try to evaluate the efficiency of all the new methods you want to imply
• Educate yourself, understand the methods and apply what you have learned
• Identify who your prospects are and how you are going to deal with them

Developing Marketing Skills

You will need to focus on your attitude. Personal development is extremely necessary because it helps to improve in confidence, your interactions and your overall attitude towards the business. Maintaining an optimistic outlook will help you to generate new ideas for your business.

Leadership qualities are also very important for marketing. Creating a supportive environment for all those involved in your business can give your home based business ideas a new meaning.

An Internet Home Based Business – Protection For the Baby Boomer in an Inflationary Economy

Many people in the baby boomer generation are confronted with some tough decisions. Some are considering an internet home based business opportunity as a solution to their problems.

Many baby boomers have seen their retirement savings reduced as the stock market crashed in 2008 and the first 3 months of 2009.

Although the market has had a significant rally in the last several months, many baby boomers were reluctant to get back into the market after the crash and may not have benefited from many of those gains.

The reduction in their home equity has also had a negative impact on their retirement savings.

Baby boomers fall into many different categories.

1. Some have retired early. Many are in good shape financially but others are greatly concerned about their reduction in retirement savings and the future of the economy.
2. Some have lost their jobs. They are hoping for an economic recovery to improve their chances of finding employment.
3. Some are feeling job insecurity. They are also hoping for economic recovery so that their companies can stabilize financially.
4. Some just don’t like their jobs. They are looking for alternatives in order to gain more control of their lives.

Most of these people in the baby boomer generation are looking for a good understanding of where our economy is headed.

The latest economic data indicates that the economy is improving. Layoffs have slowed. Automobile and retail sales are improving. The Gross Domestic Product, which indicates positive or negative growth in the economy, is getting better.

The improving economy is partially the result of the massive spending by the federal government and the money being printed “out of thin air” by the Federal Reserve. But the bottom line is that the economy is improving.

But we are also seeing some signs of inflation. The economy is starting to heat up.

As a result, we should start seeing a shift in monetary policy. The Fed should start gradually raising short term interest rates and start cutting back on its extremely accommodative policy of buying mortgage backed securities and the excessive printing of money..

But Federal Reserve Chairman Ben Bernanke is nowhere close to doing this. He is absolutely convinced that the Fed prolonged the Great Depression in 1938 by prematurely raising interest rates.

Bernanke may talk about how he is taking steps to keep inflation under control. But his actions speak louder than his words.

It doesn’t matter how many bubbles his easy money policies create. He will do whatever it takes to keep from raising interest rates. He will continue to print money and increase liquidity in the market.

Because of the Fed policies, the Federal Government should begin taking steps to counterbalance Fed’s easy money policy and begin to tighten its own fiscal policy. They should start cutting back on spending.

But let’s face it. The President Obama administration and the U.S. Congress are showing absolutely no desire in taking these steps. President Obama, Treasury Secretary Tim Geithner, and Congress are all operating on the same page.

There is absolutely no way that they will take steps to reduce our deficits. In fact, they are doing just the opposite. Health care reform, cap & trade, and another stimulus plan will add huge amounts to our deficits.

We will soon be seeing the economy adding jobs. The Gross Domestic Product probably grew at a reasonable rate in the fourth quarter of 2009.

As a result, there will be calls for a return to fiscal responsibility. There will be demands that the Fed stop buying mortgage backed securities. Many people outside the Democratic administration will say that the Fed should stop the printing presses.

But it’s just not going to happen.

1. The Fed will not stop buying mortgage backed securities because that would allow market forces to prevail and cause home loan rates to rise.
2. The Federal Housing Authority will not tighten its loan standards since this is the only way that people with poor credit and little money for a down payment can get a mortgage.
3. The Fed will resist any demand to increase short term interest rates.

So here is what baby boomers should expect as they struggle with decisions that will affect their future.

The economy will begin experiencing much higher inflation and rising long term interest rates in the next few years. This will be a huge drag on economic growth and employment numbers.

An internet home based business opportunity is a wise choice for baby boomers in this economic environment. It will help them gain more control of their lives and protect them against inflation.

5 Secretes To Success With Your Home Based Business

Running a home based business can be one of the most challenging things you can take on. The success you have with it will rely solely on the effort and hard work you put into it. In the beginning it is very time consuming and can involve learning new skills you may not have previously had. Holding tight to an entrepreneurial mindset can be one of your best assets. There is no magic formula here and it certainly isn’t rocket science but, following these 5 tips will help you greatly improve your business and put you on the right track to succeed.

1. Work Harder On Yourself Than You Do Your Business

Most people starting out in home business have had previous jobs or careers. Transitioning into this new role is a big change that we always hope is for the better. What you have to remember now is that YOU are your business. People buy into your leadership before they buy into anything else. Make sure your spending time improving your leadership qualities. There are many great leadership books out there that you can use to help change your mindset. Spend an hour each day working on this while constantly gaining more and more marketing knowledge. You’re working for yourself now and you want others to follow you and do the same.

2. Learn From Top Producers In The Industry

Treat your education like you would if you were getting a masters degree. Get that education from the top producers in your field. Join a community that has a great track record and plenty of those top producers. Listen carefully to their training calls and take detailed notes. Review those notes regularly until you have mastered what you learned. Never think you are too good to stop learning from others. Continuing education is what it’s all about here. There is always something new to learn. So, listen to what top producers say, and do what they do.

3. Treat Your Business Like A Business

If you don’t you’re in for a rude awakening. Treat your business as if it were a million dollar enterprise. If you do, you’ll see it start to pay you like one. Treating it like a hobby will guarantee it pays you like a hobby. You can pretend it is a 250k a year job and you’ll get fired if you aren’t doing your work.

4. Go Big Or Go Home

Seize the opportunity you have in front of you and run with it on the highest level. Don’t start out small and play the “Ill see how it goes” game. You’ll never see the results you desire by doing so and you will ultimately fail. Give yourself something to work for. If you want to ever make and real money and get to where the top producers are you have to position yourself correctly to do so.

5. Attend Every Event Possible

If the company or organization you’re with or thinking about joining has them, make sure your going to them. If they don’t, you might want to think about finding one that does. Marketing events are a great way to meet new people and mingle with those that are successful. The information you will learn at these events is far more than you will ever learn from any conference call or webinar. They are crucial for your success as well as your continuing success. A common saying is that your net worth is determined by your network. Never miss out on an opportunity to learn.

Utilizing the 5 tips listed above will greatly improve your business and over all success. Again, this isn’t rocket science. Staying focused and working hard to achieve what you set out to achieve will help you get there. As you progress and continually improve, you’ll find that the reward is well worth it in the end.