Now that you’ve had that home internet based business idea and decided to start a home business, 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 internet home based business idea you should develop, just think about this for a minute: every time someone gets out of bed every day and goes to work, someone is making money. Every time you pick up the phone, someone makes money. Every time you eat, turn on the faucet, start the car, use a bar of soap, get a haircut, or go on vacation, someone is making money. Imagine transactions of hundreds or even thousands of dollars and also $3 or $4 million in sales several times a month, year after year, after year.
The ideal internet home based business idea that turns into a turnkey home business is one that markets consumable products or services in such a way that after your initial effort is made; repeat orders, sales and commissions come to you for that effort on an ongoing basis.
2. Stay ahead of major market trends
A “market trend” is really an economic movement, which means that the consumption habits of large masses of people are moving in a uniform direction. The effect that the baby boomers have had and will have in the coming years on the US economy is a good example.
A leading economist liked the effect baby boomers have had on the economy since they were born like a basketball running down a garden hose! That fact can be an important factor in generating profitable home-based businesses and should certainly be taken into account when developing our home-based internet business idea.
When developing our business idea from home on the Internet, 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 can create abundant wealth for themselves. In essence, you get in front of an economic wave and ride it to financial freedom!
The key is time. Get ahead of the wave and take the ride of your life.
Current research shows that what most people want out of life is to feed current market trends and should be considered in your home based internet business idea:
1. Own your own business
2. Have tax advantages
3. Be financially independent
4. Be healthy
5. Be more aware of the environment
6. Have a rewarding career
7. Own your own healthy home
8. Look and feel younger
9. Lose weight
10. Travel
11. Improve your lifestyle
12. Training and support for personal development
Mega-Trends
These are the wants and needs of some very large consumer groups. In fact, some very big trends are gathering momentum as you read this. They are so big that they can be accurately called “Mega-Trends”.
One of the megatrends is in the area of health and wellness: a home based internet business idea. years. Paul Zane Pilzer, an internationally renowned author, university professor, and economic adviser to two presidents, predicts that there will be 10 million new millionaires in the health and wellness Internet-based network marketing industry in the next 10 years. Now that could be the foundation for a home based internet business idea!
I guess the question we need to ask ourselves is: Will we be one of them?
Another such trend is in travel: an internet-based business idea and recreation. Some estimate that this industry is worth 7 trillion worldwide and is expected to double in the next 6-7 years, which is 20% faster than the US economy. Other experts estimate that travel in the United States exceeds 1.3 billion.
I have read that more cruise ships will be built in the next 5 years than in the previous 45 years in total. Baby boomers are swarming luxury resorts around the world and this activity is expected to increase as they experience the inheritance of their parents’ money and also begin to draw on their own retirement plans.
With baby boomers currently retiring at a rate of about 1 per second and rising, the rise in travel could very well be the biggest megatrend we’ll ever experience!
The combination of these megatrends is causing one of the most explosive economic waves in history. Now there is another potential home based internet business idea! All Wealth is first created in the Mind and then transformed into reality through the application of known Principles! – Think and Grow Rich! -Napoleon Hill
3. Take advantage of your time
Leverage, through the process of duplication and multiplication, allows us as entrepreneurs to build a successful part-time internet home based business idea around our busy lifestyle. In essence, making the most of our time allows us to get more done in less time and with less effort. This concept applied in your home business means that you can achieve more than you normally could on your own.
When effectively incorporated into a home based Internet business idea, computer technology and the Internet can multiply leverage thousands of times. That means that in the right system, Internet and network technology can do the work of thousands of people, and you get paid for that work! Imagine building a part-time business, which can turn into a full-time career, that doesn’t disrupt your current circumstances and provides you with an income stream while you spend time with your family, travel, go to the beach, or even sleep! That is the power of leverage.
4. Market selection
Before choosing the right home based internet business idea, the fastest growing industries as well as the most profitable home based businesses should first be identified. Some of the fastest growing industries today are:
Greeting card industry: 7 billion greeting cards are purchased each year. Annual retail sales of greeting cards are estimated at more than $7.5 billion. Nine out of ten households buy greeting cards each year.
Working from home – $401 billion dollar industry.
Internet Marketing: Exceeds $523 billion according to a study conducted by the McCombs School of Business and is expected to reach 7 billion in 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 explosion.
Weight Management Industry – $33 billion dollar industry fueled by epidemic-sized levels of obesity. It is estimated that 70% of the US population needs to lose between 10 and 50 pounds.
Personal Care Industry – $72 billion dollar industry.
Cosmetics industry – 8 billion dollar industry – and constantly growing.
Travel and vacations: $860 billion and growing.
When developing a home based internet business idea into profitable home based businesses, it is not necessary to choose an industry that we already have an affinity for, although it is certainly desirable. However, as you will see in the next few pages, if you have the Desire to build a business and a new lifestyle, there is an option for you. Again, the challenge is selecting the right business and company when starting a home business.
Not only the concept of market and marketing must fit with you, but for a business to be real it must have the right: Product, Market, Moment, Management, Company, Compensation and Benefits and Rewards.
We should not look for schemes to enrich ourselves! If you take your personal development goals seriously and build long-term residual income and work diligently to achieve your goals, you will succeed.