Your Business – Points to Consider
While the tools of top home based business have been a central topic lately here at Fishing for Words, I wanted to take a look at the various businesses themselves.
When they reach a fundamental understanding concerning top home based business, many people realize that they are actually looking for the following:
- Profitability – something that pays the bills, all of them, continuously and without interruption
- Scalability – a business that can be started on a shoestring AND “scaled-up” to do more than just pay for survival
- Diversity – a business that challenges the mind, expands in complexity, and offers greater opportunity
While not essential to each and every person, many feel these are parts of the successful business pie:
- Low Overhead – a business structure that does not have an increasing cost of operations while decreasing profitability
- Simple Structure – a business that can operate with flexibility as a sole proprietorship or Limited Liability Company.
- Limited or no product inventory – a business that has no need to store boxes and boxes of product or “Stuff.”
- Limited Staff – a business where the central operator is both the owner and manager. While hiring staff is inevitable for certain business types, being the owner and go-to-guy is sometimes the most enviable ownership position.
Business Concepts that Fit
Keeping the above points in mind, just what top home based businesses fit those conditions?
Answer: very few.
- Information Broker
- Digital Product Reseller
- Hard Goods Reseller
—INFORMATION BROKER
An information broker does just that, sells information…of any kind. In most cases online it takes the form of someone selling information of a “how-to” nature such as how to SEO your website or how to do research and where to go to find it. Any kind of how-to knowledge can be packaged and sold. DO YOU HAVE EXPERTISE THAT COULD BE SOLD ONLINE?
—DIGITAL PRODUCT RESELLER
A digital product reseller is a top home based business and most often is selling computer applications or programs that are delivered to the customer over the Internet. In effect, the reseller becomes a marketing/advertising company. When the reseller successfully convinces a customer to buy, the reseller is given a commission from the designer or his/her company.
—HARD GOODS RESELLER
The hard goods reseller is exactly like the digital goods reseller except that he is trying to convince people to buy/order physical goods like televisions, gift baskets, hand tools, computers, etc from a third party. When a sale is made the company provides the reseller a commission.
These three online business concepts all adhere to the 7 points listed above. While each is a top home based business, they are no easier to operate than a conventional business. Each takes a minimum of cash to start, a reasonable on-going investment, dedication, and most of all time. But the greatest advantage they have over traditional business is the shoe string start up and the flexibility in operating.
In PART 2 of Making Money Online … Top Home Based Business, we’ll begin to discuss how you establish your fledgling business and push yourself out onto the Internet.
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