Why Start a Home Based Business Online?
OK, so you have decided that you want to work from home and you think you may want to start a home based business online…
…the first thing that you may want to ask yourself is why?
Why do you want to start a business online?
Are you looking to supplement your income? Are you looking to earn some money for your son or daughter’s college fund? Maybe you want to build a big enough business that you want to fire your boss and be an Internet entrepreneur. Whatever it is, make sure YOU know why you want to start this business.
Now, before you start dreaming of living in the wild with that new “Internet Marketing” lifestyle or spending all of the money that you are going to make from your awesome Internet business, there are some very specific tasks and skills that you will want to develop.
Start a Home Based Business Online with a Built in Customer Base
Seasoned Internet marketing professionals can generally have some idea as to the odds of their ability to generate income in a specific niche by doing just a little research.
What type of research?
Keyword Research and before you start a home based business online, you will want to fully develop this skill or at the very least have a solid idea what keyword research is.
So what is it?
The very first action most people engage in when “surfing” the Internet is to go to their favorite search engine and type in a phrase that has something to do with what they are looking for.
The results show up and the surfer will then choose which sites are most likely to answer a question, solve a problem or provide a product that they are looking for.
Those marketers that work hard on SEO (search engine optimization) in order to help their content achieve higher rankings within these search engines are engaged in search engine marketing.
While I will not get into the ins and outs of on-page or off-page SEO, I would like to point out that while the search engines do a phenomenal job of information retrieval, they are also great at keeping tabs of just what people are searching for.
As a marketer, this information is huge and the more of this type of information we can get our hands on the better and when you want to start a home based business online you are going to want as much of this information as possible.
Because knowing how many people are looking for specific information or for a specific item to buy is huge and will – or at least should – help determine if you are going to get involved with the right business or opportunity.
In other words, this information can be used to measure whether or not you will make money at all!
Keyword research is all about finding and exposing those markets, those folks that are looking to get involved with you in business or determining if a market even exists out there.
For example, let’s say I came across a product that I wanted to get involved with that helped people relieve symptoms of plantar fasciitis.
The very first step I would take is to find out if there are people out there looking for plantar fasciitis products and I would do this by doing a little keyword research. For me, keyword research is easily done using my Jaaxy software. Below are a few screenshots.
Above is a screenshot of the sign-in page for Jaaxy…
Just looking at the image shows you that there are plenty of folks out there looking for information about plantar fasciitis. Does this mean we can do something?
You see, you want to make sure that you have something that people aren’t only looking for information about, but ALSO are looking to buy a product associated with that topic.
So even though there are a lot of people looking for information about plantar fasciitis, it doesn’t mean that there is a lot of money to be made.
The next step?
More research, of course!
In the above image, we find that there are almost 800 searches per month with the phrase “shoe inserts plantar fasciitis.” This is a good thing, it means that there are folks out there looking for some type of a product – shoe inserts – that are directly related to plantar fasciitis.
This is also a pretty motivated market, if you have ever experienced the pleasure of this particular condition, you will know exactly what I mean.
When looking to start a home based business online, keyword research like that conducted above is crucial for your success.
Most of the time I can determine if I am going to make money with a product like the one above just by conducting this quick research. With the above example I could probably sell 10 units a month, which isn’t setting the world on fire, but is a good start.
…the income that will come in from this one product…an income of about $200 a month or so…is passive. That means that once your site is set up with the right affiliate program or with a manufacturer that supplies the inserts, your income virtually arrives without any additional work!
When you are looking to set up a home based business online, automation and passive income are Kings!
Can You Start a Home Based Business Online in Any Niche?
Let’s say you have no interest what so ever in serving the world via foot care.
If you are like me, I love helping people discover ways to make money online or start businesses online as well.
In such a case, you will still conduct research, just research based on your specific niche or business model.
A quick search using my Jaaxy keyword tool again shows that there is a key phrase that receives almost 4000 searches per month, home based business income.
You can also see that there are a .net and a .org available to purchase each for less than 12 dollars per year. This would allow you to gain excellent exposure for this exact key phrase by purchasing this domain name, setting up a blog site using the domain name and placing some decent content on the site.
*Note: if the domain name is not available, it’s probably because I have purchased it!
Start a Home Based Business Online is Easily Done
One of the greatest things about starting your home based business on the Internet has to do with the fact that it is so cost effective.
For those of you that have started other businesses, online or offline, in the past, you know exactly what I am referring to!
Typically, starting a business online is very inexpensive, this allows more accessibility for more people. There are no guarantees though and you shouldn’t think that there will be.
There are skills that you will have to develop, there are investments that you will need to make, but compared to a typical, traditional offline, brick and mortar business starting a business online is significantly less expensive.
A domain name may run you $10 or $11 dollars.
A hosting account may run you a few dollars a month.
You can create digital products for pennies. You can even get involved with an existing referral or affiliate business for a few thousand or even a few hundred dollars and be able to operate your business in the “black” in a very short period of time.
There are many, many good reasons to start a home based business online and cost is just one factor, but maybe the biggest one for any would be entrepreneur. There are many other factors to consider, but with the cost of starting an online business at a more than reasonable level, skill development and additional costs to purchase tools or training are within the grasp of anyone ready to get started.