Previously we said that the “ideal” home based business idea which develops into a turnkey home business is one that markets consumable products or services in such a way that after your initial effort is done; repeat orders, sales and commissions come to you for that effort on a continuing basis.
The “Perfect” business is one where you also get this type of compensation, not only on your own efforts, but on the efforts of thousands of other people who are not employees!
We also stated that selecting the right business opportunities is as easy as 1-2-3, well maybe 1-2-3-4, with tongue in cheek.
We addressed “Consumable Products” and “Market Trends”. Now it is time to follow up with issues 3 and 4.
3. Leverage your time
Leverage, through the process of duplication and multiplication, allows us as entrepreneurs to develop a successful internet home based business idea, part time, around our busy lifestyle. In essence, leveraging our time allows us to get more done in a shorter period of time with less effort. This concept applied in your home based business means you can accomplish more than you could normally accomplish on your own.
When effectively incorporated into a internet home based business idea, computer and internet technology can multiply leverage thousands of times.
That means in the right system, networking and internet technology can do the work of thousands of people, and you get paid on that work! Imagine developing a business part-time, which can grow to a full time career, that wouldn’t interrupt your present circumstances, and provides you a flow of income while you spend time with your family, travel, go to the beach, or even sleep! That’s the power of leverage via the processes of Duplication and Multiplication.
4. Market Selection
Before choosing the right internet home based business idea, one must first identify the fastest growing industries as well as the most profitable home based businesses. Some of the fastest growing industries today are:
Working From Home – $401 Billion Dollar Industry
Internet Marketing – exceeds $523 Billion according to a study done by the McCombs School of Business and is expected to reach 7 Trillion within the next 3 years.
Mail Order Marketing – $350 Billion Dollar Industry and growing.
Wellness Industry – $200 Billion Dollar Industry and expected to reach $1 Trillion within 10 years.
Nutrition Industry – $4.2 Billion Dollar Industry and exploding.
Weight Control Industry – $33 Billion Dollar Industry fueled by epidemic size obesity levels. An estimated 70% of the U.S. population needs to lose 10 – 50 pounds.
Personal Care Industry – $72 Billion Dollar Industry.
Cosmetics Industry – 8 Billion Dollar Industry – and steadily growing.
Travel and Vacation – $860 Billion and growing
When developing a internet home based business idea into profitable home based businesses, it is not necessary to pick an industry which we already have an affinity for, although it certainly is desirable.
However, as you will see in upcoming pages, if you have the Desire to build a business and new lifestyle, there is a fit for you out there. Again, the challenge is to select the right business and company when you start a business from home.
Not only should the market and marketing concept fit you, but in order for a business to be real it must have the right: Product, Market, Timing, Management, Company, Compensation, and Benefits and Rewards.
These issues will be discussed in future blogs.
Thank you for visiting www.GeorgeSims.com