I will give you 5 ideas for a home-based business that is easy to start, and it doesn’t make much money, don’t require a lot of skills, and can be turned into a profit centre very quickly.
Starting a home-based business is so much easier today than it used to be in the past.
This is particularly the case if you start a home-based business that focuses primarily on using the Internet to market your products or services.
Here are Ideas For a Home Based Business
The problem that people are starting a home-based business has run into in the past is where they are going to inventory their products. A way to overcome that is to start your own dropshipping business and use an offline supplier for customer fulfilment.
Popular drop shipping companies include Doba, Salehoo, World Wide Brands, Drop Ship Direct, and Inventory Source. You could even strike up a deal of your own with a local supplier if you live in an area where you have access to wholesale drop shippers.
2. Network Marketing
In the past network marketing companies used to be referred to as multilevel marketing, or MLM business opportunities. These have continued to grow in popularity because the Internet is making it possible to build vast network marketing businesses 100% online.
There are thousands of these available that you can get started with quickly and for very little money out of your pocket. Some of the old standby companies continue to do very well including Amway, Avon, Herbalife, Mary Kay, and Tupperware. A good source for finding MLM businesses to join is an article on Business For Home titled 100 Solid Top MLM Companies.
3. Big Ticket Product Sales
One business idea that has grown in popularity recently is to sell big-ticket or high ticket products online.
These are also referred to as top-tier business opportunities because the cost of the goods run several thousand dollars and up.
With 100% commission rates, it is possible to earn up to $20,000 on one sale once you have satisfied the requirements in purchases and passed up sales.
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Popular top-tier businesses include Prepaid Legal Services, MOBE, and TiDom.
4. Affiliate Marketing
I’m going to spend a little more time on this home-based business idea because it is my personal favourite. It’s easy to start an affiliate marketing business because everything you need to get started, is supplied by the affiliate merchant.
There are three primary ways to make money in affiliate marketing.
1. Pay per click.
2. Pay per lead.
3. Pay per sale.
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Pay Per Click
Let’s start with pay per click. One of the best ways to start making money with this type of business is to start your blog and join the Google AdSense PPC affiliate program.
You have probably been on websites or blogs where there have been Google ads matching the content of the page you’re on. Whenever you click on one of these ads, Google pays 68% back to the publisher.
Blogging is an excellent way to get into affiliate marketing and pay per click programs do not require any sales for you to make money. To give you an idea of the amount of money we’re talking about Google pays out over $1 billion a year in commissions every year to their affiliates. You could be one of them.
Pay Per Lead
Get leads for affiliate merchants and earn money for every lead you get. This is also sometimes referred to as cost per action affiliate marketing.
This also doesn’t require anything to be sold for you to earn money. Offer Vault is a great website where you can learn everything you need to know about this type of affiliate marketing.
You can also find affiliate merchant programs to join here. I will just say that some of the top affiliate merchant programs to get involved in the pay per lead field include Max Bounty, CJ Affiliate, and Peer Fly.
Pay Per Sale
In the early days of affiliate marketing, Amazon had a program that would pay you to sell books, and this is credited with launching the affiliate pay per sale business model. Some affiliate marketing trainers referred to this as getting paid to sell other people’s stuff.
Today you can start your own home-based business selling both physical and digital products and getting paid a commission to do so. Amazon continues to provide an excellent affiliate program for this.
Clickbank has a great digital information affiliate marketing program. You can earn commissions as high as 75% selling ebooks and other digital information as an affiliate.
5. Membership Programs
Included in the pay per sale business model is one of my favourite ways to make money and that is membership programs.
I focus on selling the Wealthy Affiliate membership program.
This is an excellent way to earn residual income selling a product that people pay a monthly fee for its membership.
I like this program because it teaches people how to do affiliate marketing which as you have seen is my favourite home-based business idea.
Many membership affiliate programs bill on a monthly, quarterly or yearly basis. Earning residual income is where you do your work once and continue to get paid over and over in the future for it. It’s a good feeling to see the income coming in every month long after the initial sale was made.
Final Thoughts On Ideas For A Home Based Business
I have just listed five ideas for a home-based business that anyone can quickly get started in with little out-of-pocket expenses or knowledge. The hard part is doing the work to get traffic to your website or blog where you can monetize the different product and services you’re selling.
This is where you will spend most of your time so plan on becoming an expert in Internet marketing, or at the very least outsourcing the marketing somebody who does know what they’re doing.
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