Now that you have had that home based business idea and have decided to start a business from home, selecting the right business opportunities is as easy as 1-2-3, well maybe 1-2-3-4!
1. Decide to Market a “Consumable” product
When trying to decide which home based business idea you should develop, just think about this for a minute – every time anyone gets out of bed each day and goes to work, someone makes money. Every time you pick up the telephone, someone makes money. Every time you eat, turn on the water, start your car, use a bar of soap, or get a haircut, or go on a vacation, someone makes money.
Imagine transactions of hundreds or even thousands of dollars and also millions of $3 or $4 sales several times a month, year after year, after year.
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!.
Duplication and Multiplication is Golden!
2. Be ahead of the major Market Trends
A “Market Trend” is really an economic movement, meaning that large masses of people’s spending habits are moving in a uniform direction. The effect the baby-boomers have had and will have for years to come on the American economy is a good example.
One leading economists likened the effect the baby-boomers have had on the economy since birth to a basketball running through a garden hose! That fact along can be a major factor in generating profitable home based businesses and should certainly be considered when developing our internet home based business idea.
When developing our internet home based business idea, the question we must ask ourselves is: Are we positioned in front of the basketball or behind it?
History shows that those who identify these trends early, and are able to meet the needs of these trends, are able to create abundant wealth for themselves. In essence, they get in front of an economic wave and ride it to financial freedom!
The key is timing. Get in front of the wave and take the ride of a lifetime.
Current research shows, that what most people want out of life is feeding the current market trends and should be considered in your internet home based business idea:
1. Owning Their Own Business
2. Having Tax Advantages
3. Being Financially Independent
4. Being Healthy
5. Being more environmentally conscious
6. Having A Rewarding Career
7. Owning Their Own Healthy Home
8. Looking & Feeling Younger
9. Losing Weight
11. Improving Their Lifestyle
12. Personal Development Training and Support
These are the wants and needs of some very large consumer groups. In fact, some very large trends are gathering momentum as you read this. They are so large that they can accurately be called “Mega-Trends”.
One of the mega trends is in the area of
Health and Wellness – An Internet Home Based Business Idea
Because of the economic influence of the Baby-Boomers, economists are predicting that this industry will be the next Trillion dollar industry within the next ten years.
Paul Zane Pilzer, an internationally known author, college professor and economic advisor to two presidents, predicts that there will be 10 million new millionaires in the Health & Wellness internet home based Network Marketing industry within the next 10 years. Now that could be a basis for an internet home based business idea!
I guess the question we need to ask ourselves is:
Will we be one of them?
Another of those trends is in Travel – An Internet Home Based Business Idea and recreation. Some estimate this industry to be 7 trillion worldwide with expectations to double within the next 6 or 7 years which is over 20% faster than the US economy. Other experts estimate that travel in the US along exceeds 1.3 trillion.
I have read that there are more cruise ships to be built in the next 5 years than in the previous 45 years.
Baby-boomers are swarming to the luxury resorts around the world and this activity is expected to increase as the boomers experience the inheritance of their parents money and also begin to draw on their own retirement plans.
With the baby boomers currently retiring at the rate of about 1 per second and increasing, increase in travel could very well be the largest mega-trend we will experience in our lifetime!
The combination of these Mega-Trends is causing one of the most explosive economic waves in history. Now there is another potential internet home based business idea!
All Wealth is first created in the Mind and then transformed into reality by the application of known Principles! -Think and Grow Rich! -Napoleon Hill
To be continued.