Are you an up-and-coming online entrepreneur? Are you looking to become an online entrepreneur? There is not a day that goes by where I don’t receive at least one email or phone call from an up-and-coming entrepreneur asking me for advice on home or online businesses. There are thousands upon thousands of options to choose from when starting your own home based business or deciding to be an at home entrepreneur.
If you are thinking about ideas, look for something that people will always need such as items for the home, stuff for the kids or greetings cards (now there's a product with a huge mark-up) or a service you can easily deliver such as interior design, decorating, gardening. You can buy products in bulk at enormous discounts, sell on at lower than regular retail prces and still turn a profit. Don't worry too much about storage as there is plenty of low cost self storage available. I know somone who runs their whole business out of a self storage unit and the facility now provide fulfillment and delivery services for the business so no huge storage overheads and the business is positively thriving.
Home Based Business Facts for the At Home Entrepreneur
- 5% of conventional jobs will be replaced by home based businesses (HBB) in the next 5 years.
- 18.3 Million HBB’s in the U.S.
- Of the 18.3 million, 6.6 million generate at least 50% of the household income. 8% generate more than $500,000 in annual revenue. 35% generate above $125,000 annually
- 1 out of 10 households
- 7 out of 10 succeed
- $427 Billion annually.
- One started in the U.S. every 11 seconds.
Over the past 9 years, my opinion on HBB’s has shifted dramatically. I once thought that the only way to make money at home was by selling things on eBay. I first became an online entrepreneur back in 2002 when I did start selling items on eBay.
At Home Entrepreneur’s Love Digital Marketing
In 2001, my wife and I enrolled in Quixtar (essentially Amway). We are both Speech Communication majors and we have absolutely no problem striking up a conversation with strangers. I was already an online entrepreneur so I thought I could easily start an at home business. The business plan seemed pretty simple; sign up 2 people who sign up 2 people and boom…you are on your way to becoming a millionaire. This at home entrepreneur stuff was easy!
Unfortunately, like the majority of people we failed miserably at Quixstar. We set up weekly home meetings and we attended all of the hotel meetings. The majority of the time, less than 5% of the people that we invited would show up. In 2003 we were completely deflated and we were sick of putting in tremendous amounts of effort with no return; we left the industry. From 2003-2009 I was 100% against working from home. Being an at home entrepreneur was not as easy as I thought!
It was not until later that I realized that the entire home-working (or micro-business) industry is currently on the brink of a major paradigm shift.
Here is why the majority of people never achieve a full time income and fail at running a micro busienss from home:
- They don’t understand the power of Digital Marketing
- They treat their business like a hobby
- They are not focused and they have poor execution
- They are not using the power of the Internet to target their audience.
The last bullet point above is the number 1 reason why people fail. Once you fully grasp the concept of Digital Marketing and apply that to your business both online and off, you will have customers contacting you instead of trying in vain to reach them. We are at the very front of huge paradigm shift and if you are looking to start an online business you should certainly consider doing so now. Being on the front of this wave means huge income potential for all of those that get involved. I have extensively studied Online Marketing and I really enjoy mentoring and coaching individuals that are looking to start their own business or improve the profitability of their small business. The income potential is unlimited for the at-home-entrepreneur.
Financial experts say working from home is “recession proof” and that micro businesses are going to see tremendous growth in the next 10-15 years.
The Internet has completely changed every industry and the typical “entrepreneur’s” ability to grow a business. With Facebook, blogs etc. you can build massive networks online which equals large businesses and more income.
If you are on the fence on whether starting a business is right for you just believe you CAN be an at-home-entrepreneur.