Search

The 5 Essentials to Starting a Home Based Business

Let’s face it! It is tough out there right now. We have unemployment that we never could imagine. Over 33 million people have filed for unemployment claims. People are feeling pretty helpless as we watch a pandemic cripple our economy.

There is a rising desire in America to take the Dolly Parton employment approach and scream, “Take this job and shove it” (OK, how many of you just sang the chorus in your head?) and go be your boss.


There is a lot of appeal to being your boss. Who wouldn’t want to call the shots, have their own freedom, and remove the limitations on what could be earned? On the front end, the benefits are tremendous.


Home-based business companies market to this emotion all of the time. It starts with a bunch of recruits in a meeting room where the air is full of “can do” attitude anointed with a spirit of motivation and hope. Participants leave with a mountain high, ready to conquer the world.

There are also the infomercials that claim that starting your own business is easy, takes very little time, and can quickly become the vehicle in which you replace your JOB and gain back your freedom. The real aggressive ones claim it can be done in months, and a few hours a day. My favorite one centers on starting an internet business and creating a way for consumers to buy things. The only snag in that deal (after you spend all of that start-up money) comes down to one question.


How will you drive the volume of business necessary to make that kind of living? Oh yeah, there is the snag.


There are legitimate home-based businesses, there are scams, and then there are ones that cover a weak product with a bunch of hype. Assuming that you find something honest, how should you approach it?

  • Don’t buy the hype that it is easy – nothing comes easy, ESPECIALLY starting your own company and being your own boss.

  • Be comfortable being a salesperson – it takes a lot of presentations and a ton of sales just to get started and lay a foundation. Not everyone is cut out for sales. This should be the litmus test if you are thinking about home-based business. If you have any reluctance to pick up the phone and sell, you might want to think real hard about this as an option.


  • See #2 and be comfortable calling your friends – Most people don’t like being put in the sales presentation room regardless of who is doing the selling. You have to be good and putting your friends at ease about the process as well as calling on them and presenting the idea.


  • Find a product you can believe in – Find a product that you are passionate about, and you will also use it. Make sure that you are passionate because the product or service makes a person’s life easier, improves their life, etc. I would be hesitant to represent anything that falls into the too good to be true category, i.e., cure for cancer, autism, and instant weight reduction without any work.


  • Have a home-based business that emphasizes the product and not just a down the line – You start a business to make a difference in people’s life. Make sure that you have a strong belief that is occurring. I have a dear friend who has an electricity business which has developed a nice income, saving people money on their electricity. However, her main passion is teaching people how to create financial freedom and create their own business for themselves. She is passionate about it and is making a difference in the lives of those she touches.

There are good home-based businesses. Use common sense, be realistic, and make sure you do the math!

97 views1 comment