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Is starting a home-based business right for me?

Updated: Apr 6, 2022

man using a laptop

Not everyone is a good fit for a home-based business. It requires motivation, discipline, and effort to really make one work. I meet a lot of dreamers and hope that think that they can invest a small amount of money in a business and it will just run like clockwork without any effort or attention, time or work. Sorry to burst the bubble here, it doesn't exist.

I have been in digital marketing for over 15 years and can honestly tell you now that nothing comes for free or without learning and some good old-fashioned elbow grease.

Why can I not buy a business and it just works on autopilot I hear you say?

Well, you can! But you are no longer a business buyer but an investor - you can invest in the stock market and you are doing exactly that, and perhaps that is a better idea for you. Or you can buy a self-managing website making a profit, they do exist but they cost a lot. If you want a business earning on autopilot expect to pay 3 times the yearly profit. So if you want to earn a side income of £1000 a month you be better prepared to fork out at least £36,000 for it.

So what are the options if you want to start a home-based business?

Well, you can buy into a company that has a system that is proven to work and has a training program that teaches you how to replicate their business model that is already proven. This is often a franchise or something similar, it requires work and requires you to put the effort in. If you are doing git from home the benefit is that you will have fewer expenses compared to having a franchise like Mcdonald's that will cost a fortune in premises and running costs.

Sell services. If you choose a home-based business that is selling services to other businesses this is ideal as there is no stock, no ongoing costs, or at least minimal and you can do it anywhere in the world.

eCommerce. If you want an eCommerce store you will need to learn how to choose products selling well, how to find suppliers and/or dropship suppliers, and then how to sell and market those products so you can make a margin on top of the costs of advertising and sales.

You may come across a lot of these and it is true these can make money but often markets will change and you will be to be able to learn where and how to source products and the right ones.

Amazon fulfillment program is another option where you can offer products but all the same rules as above apply and it requires time energy work and learning on how to do it.

Youtube has videos on how to choose products, there is software that helps monitor the market place and Aliexpress is the largest dropshipper on the planet and typically can supply nearly anything.

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